Overview:
The Investment Fund for international Development (FONIDI) invests in financing institutions or specialized funds within the financial sector in developing countries.
Description:
FONIDI was created by DID (Développement International Desjardins) in 2003, a company that provides technical support to microfinance institutions (MFIs). FONIDI invests in MFIs, which are retail micro-lenders, in the form of ordinary or privileged shares, options, shares in limited partnerships, and financing through loans and debentures. The capital injection or loan ranges from CAN 500 thousand to CAN 1.5 million. In 2006, FONIDI invested in ASP Financiera of Mexico and the SOLIDUS Fund of Latin America.
Microfinance Information Exchange (MIX) Profile:
http://www.mixmarket.org/funders/did-fonidi
Organization’s Website:
http://www.did.qc.ca/en/services/investissement/fonidi.html
Just the Facts:
Year Founded: 2003
Country of Incorporation: Canada
Legal Status: Limited Partnership
Fund Assets (as of day/month/year): CAD 5 million (as of 04/November/2009)
Assets allocated to MFIs: CAD 2.36 million (as of)
Number of MFI investments (as of day/month/year): 3 (as of )
Participant(s)/Backer(s)/Investor(s): DID (Développement International Desjardins)
Area of Operation: Global
Currency: CAD
Instrument Type: Loans and Debt Securities, Equity
Investment Horizon: 5-7 years
Fund Manager: Gestion FONIDI
Contact Information:
E-mail:info@did.qc.ca
Développement international Desjardins
150, avenue des Commandeurs
Lévis (Québec) Canada
G6V 6P8
Tel: +1 418 835-2400
Fax: +1 418 833-0742
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Additional Resources:
IDB, CAF, OPIC, BlueOrchard, ACCION, FONIDI, FMO Sign on to $250m Latin American Microfinance Fund (October 2009)
https://www.microcapital.org/press-release-idb-caf-opic-blueorchard-accio…
Two investments in Mexico for DID (December 2006)
http://did.qc.ca/en/salle-de-presse/communiques/comm643.html
Authored by Kenny Kline, Research Associate
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