CGAP (Consultative Group to Assist the Poor) reported in its recent list of transactions that Dexia Microcredit Fund, a Luxembourg investment fund, lent USD 3 million to Fund for Local Development Nitlapán (FDL Nitlapán), USD 1.6 million to Mikrofin and USD 1.3 million to Fundación para el Apoyo a la Microempresa (FAMA), microfinance institutions (MFIs) in Latin America and Eastern Europe.
Dexia Microcredit Fund is a Luxembourg-based commercial investment fund launched in 1998 to invest specifically in microfinance institutions (MFIs). Dexia Microcredit was launched by Dexia Banque Internationale, a retail bank formed in 1996 by the merger of Crédit Communal de Belgique and Crédit Local de France. The fund was created to provide investors with both a socially responsible investment opportunity and an attractive investment return. The 2008 financial data provided by the Microfinance Information Exchange (MIX) shows that Dexia Microcredit has total assets of USD 298.5 million with USD 284.9 million being allocated towards microfinance investments. Dexia Microcredit fund is currently active in 19 nations and finances 30 MFIs.
FDL Nitlapán is a Nicaraguan MFI that started in 1992 under Nitlapán, a research and development institution founded at the Central American University in 1990. In addition to financial services, FDL Nitlapán also offers its clients advisory services regarding the production and administrative aspects of microenterprises’ business projects. As of 2007, FDL Nitlapán had a loan portfolio of USD 53.4 million and a client base of 72,000. This organization does not report to the MIX Market and no other financial information is available regarding FDL Nitlapán.
Mikrofin is a for-profit, micro-credit company founded in 1997 and based in Bosnia and Herzegovina. The company originated from World Bank Local Initiatives, a microenterprise lending project supported by the Bosnian government and the World Bank, a development organization providing financial and technical support to developing nations. Mikrofin was created to promote self-employment and lower unemployment in post-war Bosnia. At the end of 2007, Mikrofin reported total assets of USD 151.7 million and a gross loan portfolio of USD 143.2 million. The company’s return on assets was 4.9 percent, and its return on equity was 21.68 percent, as reported by the MIX. At the end of 2007, Mikrofin had 51,508 borrowers with the average loan per borrower being USD 2,780.
Founded in 1992 and based in Nicaragua, FAMA was created with the support of ACCION International, a nonprofit organization founded in 1961, which mainly operates in South America. FAMA still remains under the ACCION network. According to the 2007 financial data provided by the MIX, FAMA had total assets of USD 33.9 million and a gross loan portfolio of USD 31.4 million. Its most recent return on assets was 3.65 percent while its return on equity was 11.01 percent. At the end of 2007, FAMA had 42,918 active borrowers and claimed female micro-entrepreneurs to be its main clients, with 72.7 percent of borrowers being women.
Additional Resources:
ACCION International: Home, History, FAMA – Fundación para el Apoyo a la Microempresa
Dexia: Dexia Microcredit Fund, Home, About
FAMA: Home
FDL Nitlapán: Home, Financial Data
MIX Market: Profile for Dexia Microcredit Fund
MIX Market: Profile for FAMA
MIX Market: Profile for Mikrofin
Nitlapán: Home
Revista Envio (Central American University): The IDB Reward the FDL for Excellence
World Bank: World Bank Local Initatives, Home
Similar Posts:
- MICROCAPITAL BRIEF: Impact Asset Management’s Dual Return Vision Microfinance Funds Issue Loans to MFIs in Ecuador, Georgia, Kyrgyzstan, Paraguay
- MICROCAPITAL BRIEF: Incofin Places $4.3m in Equity in Varashakti Housing Finance via India Progress Fund
- MICROFINANCE PAPER WRAP-UP: “The Relationship Between Financial and Social Performances in Microfinance: Insights from the Provision of Agricultural Loans in Cambodia,” by Tristan Caballero-Montes
- MICROCAPITAL BRIEF: Agents for Impact Disburses $8m from Invest in Visions (IIV) to Microfinance Institutions Digamber of India, Imon of Tajikistan
- MICROFINANCE PAPER WRAP-UP: “The Global State of Financial Inclusion and Consumer Protection 2022,” by Buddy Buruku et al, published by the World Bank Group
