Media Development Investment Fund (MDIF), formerly Media Development Loan Fund, is a New York-registered not-for-profit corporation with 501(c)(3) public charity status founded in 1995 by Saša Vučinić and Stuart Auerbach. The organization specializes in impact investing, providing low-cost debt, equity, and quasi-equity financing to independent news and information businesses in countries with a history of media oppression. Over 30 years, MDIF has provided 330.5 million dollars in total financing and currently manages 125.8 million in assets, having invested in 158 media companies across 50 countries. The fund helps journalists build sustainable businesses around professional, quality journalism. In 2016, Russia declared MDIF an “undesirable” organization and banned it.