Inter-American Investment Corporation Makes $1 Million Microfinance Investment into Paraguayan Microfinance Institution Financiera Familiar

The Inter-American Investment Corporation (IIC), a super-national quasi-governmental institution based in the U.S., loaned $1 million to “Financiera Familiar”, a Paraguayan Microfinance Institution (MFI). Established in 1986, the IIC invests in financial institutions that promote small and medium enterprises in Latin America and the Caribbean. With 43 member countries, the IIC has more than $487.3 million in total assets.

MFI Financiera Familiar, established in 1967 to make small consumer loans, became the first for-profit MFI in Paraguay in 1994 “specializing in micro-credit loans to low-income persons”. The latest available information from 2001 indicates that since then 10 other organizations have started up as micro-lenders. As of 2005, the MFI has loaned $9.3 million to over 45,000 customers.

Additional Resources

1) Consultative Group to Assist the Poor (CGAP): “Microfinance Capital Markets Update” is the best source for monthly updates on debt and equity deals in microfinance.
2) Inter-American Investment Corporation (IIC): “Agreement Establishing the Inter-American Investment Corporation.”
3) IIC: “The IIC’s Mission.”
4) IIC: “Member Countries.”
5) IIC: “Inter-American Investment Corporation 2004 Annual Report.”
6) “Microfinance Enters the Marketplace.”