The Emergency Liquidity Facility (ELF)
is a fund located in San Jose, Costa Rica with
operations throughout Latin America and the Caribbean. ELF has more than $35 million available to
assist in emergencies and was created with the participation of bilateral and multilateral
institutions, as well as private investors. Its purpose is to serve as a lender of last resort to
microfinance institutions (MFIs) affected by natural disasters or man-made crises.