Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Fondo de Desarrollo para la Mujer (FODEM) a Nicaraguan based microfinance institution, received a USD 800,000 loan from Oikocredit. Created in 2001, FODEM’s mission is to offer financial services to female entrepreneurs throughout Nicaragua, in order to contribute to the nation’s growth and economic independence. As stated on the MIX Market, the microfinance institution informational clearinghouse, as of December 2005, FODEM had 48,261 active borrowers, a gross loan portfolio of USD 2,857,568, and total assets of USD 2,981,017. Its debt to equity ratio was 152.68%, its return on assets was 8.82%, and its return on equity was 21.03%.
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