This story comes to us courtesy of the CGAP-MIX newsletter. ResponsAbility Global Microfinance fund provided a loan of the equivalent of USD 3.9 mn to Serbian Microfinance Institution (MFI) AgroInvest Holding. AgroInvest was founded in 1999 with the mission of “serving and empowering rural families with high-quality financial services.” It began as a microfinance initiative of the NGO World Vision of Montenegro, but now is a for-profit, multinational non-bank financial institution. AgroInvest reports to MIX market, the microfinance information clearinghouse, as having 14,679 active borrowers, a gross loan portfolio of USD 18 mn and USD 21 mn in total assets as of 31 December 2005. ResponsAbility was created in 2003 by several large Swiss financial institutions. It has USD 96 mn in fund assets as of 31 January 2007 and also reports that USD 89 mn of its fund assets were allocated to microfinance investments during the same period.
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