A microfinance institution (MFI) in El Salvador has borrowed an unspecified amount of cash from the Dual Return Vision Microfinance Fund of Austria-based C-Quadrat. C-Quadrat Asset Management (AM), the unit of C-Quadrat that manages the fund, has declined to identify the MFI. However, C-Quadrat AM tells MicroCapital that the MFI was founded in 1995, and its “Client protection is very strong, as the institution utilizes respected community leaders as intermediaries and first contacts for clients. They have a good personal knowledge of their clients and can thus prevent over-indebtedness.” The MFI also is active in community projects such as the construction of schools and infrastructure.
As of November 2018, the Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency sub-funds hold assets valued at a total of USD 587 million. C-Quadrat manages EUR 10 billion (USD 12 billion) in assets as of 2017.
Sources and Additional Resources:
Information provided directly to MicroCapital by C-Quadrat AM
Background on C-Quadrat
https://www.c-quadrat.com/en/company/history/
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