Global Partnerships (GP), a microfinance organization with offices in the United States and Nicaragua, recently reported to MicroCapital that the Netherlands Development Finance Company (FMO) has invested USD 4.4 million in the Global Partnerships Social Investment Fund (SIF) 2010, raising the fund’s capital to USD 25 million. SIF 2010 is a five-year debt fund created by GP to provide loans to microfinance institutions (MFIs) that provide preventative health care, business education and agricultural training in addition to financial services. As of March 31, 2011, SIF 2010 has disbursed USD 9 million to eleven organizations in seven Latin American countries. GP aims to disburse the remainder of SIF 2010’s capital by early 2012. FMO’s chief investment officer, Jurgen Rigterink, was quoted as saying, “SIF 2010 helps fill the financing gap for smaller Latin American microfinance institutions, for which funding remains scarce despite large inflows in the microfinance sector at large.”
By Julie Moksim, Research Associate
About Global Partnerships: Global Partnerships (GP) raises capital through a microfinance investment fund strategy. The company has staff based in Seattle, in the US state of Washington, and Managua, Nicaragua. As of June 30, 2010, GP invests in 27 microfinance institutions that serve a total of 845,000 borrowers in seven Latin American countries.
About Global Partnerships Social Investment Fund 2010: Social Investment Fund 2010 (SIF 2010) is a USD 25 million, five-year debt fund created by Global Partnerships (GP), a microfinance organization based in the United States, which aims to provide affordable loan capital to select microfinance institutions in Latin America. The goals of the fund are to increase access to microcredit for people living in poverty in Latin America; to support the growth and development of microfinance institutions (MFIs) that are achieving exceptional levels of social impact; and to return capital to investors with fixed-income returns. Forty investors are participating in SIF 2010, including the Inter-American Development Bank (IDB) and Overseas Private Investment Corporation (OPIC); foundations including Linked Foundation, Perls Foundation and the Brown Family Private Foundation; Seattle University; faith-based institutions such as the Mercy Partnership Fund; and 23 accredited individual investors.
About Netherlands Development Finance Company (FMO): The Netherlands Development Finance Company (FMO) is a Dutch public-private partnership that aims to promote developing international economies. Founded in 1970, FMO aims to encourage development by promoting entrepreneurship. FMO has an investment portfolio of EUR 5.04 billion (the equivalent of USD 6.5 billion) as of 2009. FMO operates in Africa, Asia, Eastern Europe, and Latin America. FMO’s investment portfolio is USD 4.6 billion.
Sources and Additional Resources:
Global Partnerships Press Release: “Dutch Development Bank FMO Invests $4.4 million in Global Partnerships’ Social Investment Fund”, April 14, 2011, information provided by Global Partnerships to MicroCapital
MicroCapital.org Brief, April 11, 2011: Global Partnerships (GP) Microfinance Funds Loans $1m to Enlace of El Salvador, Cafe y Desarrollo of Mexico, https://www.microcapital.org/microcapital-brief-global-partnerships-gp-microfinance-funds-loan-1m-to-enlace-of-el-salvador-cafe-y-desarrollo-of-mexico/
MicroCapital.org Brief, April 7, 2011: Global Partnerships Social Investment Fund (SIF) 2010 Loans $3m to Sartawi, FONDECO of Bolivia and Espoir of Ecuador for Microfinance, https://www.microcapital.org/microcapital-brief-global-partnerships-social-investment-fund-sif-2010-loans-3m-to-sartawi-fondeco-of-bolivia-and-espoir-of-ecuador-for-microfinance/
Meet the Boss: Nanno Kleiterp of Netherlands Development Finance Company (FMO)
MicroCapital’s Microfinance Universe Profile: Global Partnerships
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Global+Partnerships
MicroCapital’s Microfinance Universe Profile: Global Partnerships Social Investment Fund 2010
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Global+Partnerships+Social+Investment+Fund+2010
MicroCapital’s Microfinance Universe Profile: Netherlands Development Finance Company (FMO)
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Global Partnerships, Goodwell, Oikocredit Invest $8.5m in Equity in Good Nature Agro to Boost Profits of Small Farms in Southern Africa
- MICROFINANCE EVENT: Social Enterprise World Forum (SEWF23); October 11-12, 2023; Amsterdam, the Netherlands
- MICROFINANCE EVENT: 5th Annual CLIIQ Nexus Latam; September 26-28, 2023; Cuenca, Ecuador
- MICROFINANCE EVENT: Africa Impact Summit; July 13-14, 2023; Cape Town, South Africa
- MICROCAPITAL BRIEF: MSMEs in Amazon to Access $900m Loan Pool from IDB, BNDES of Brazil
