The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund that mobilizes capital for microfinance institutions (MFIs), recently informed MicroCapital that it has loaned the local-currency equivalent of USD 453,000 to Opportunity Microcredit Romania (OMRO), a Romanian MFI that is a member of the US-based Opportunity International network.
As of 2011, OMRO reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 16.9 million, a gross loan portfolio of USD 14 million, approximately 2,000 borrowers, return on assets of -0.41 percent and return on equity of -3.05 percent. As of December 31, 2010, Opportunity International reported total assets of USD 150 million with an annual revenue of USD 32 million and operations in 24 countries. As of March 2012, EFSE has an outstanding investment portfolio of EUR 722 million (USD 885 million). As of 2012, EFSE holds a label from LuxFLAG, an organization that certifies that microfinance investment vehicles actually invest in the microfinance sector.
By Charlotte Newman, Research Associate
About the European Fund for Southeast Europe
Established in 2005, the European Fund for Southeast Europe aims to foster economic development in southeastern Europe and parts of Central Asia by supporting the provision of financial services to low-income households and micro- and small enterprises via local financial institutions. EFSE was initiated by KfW Entwicklungsbank, a German development bank, with support from the German Federal Ministry for Economic Cooperation and Development (BMZ in German) and the European Commission. EFSE is privately managed, with Oppenheim Asset Management Services of Luxembourg acting as fund manager and Finance in Motion GmbH of Germany acting as fund advisor. As of March 2012, EFSE has an outstanding investment portfolio of EUR 722.8 million (USD 885 million). As of 2012, EFSE holds a label from LuxFLAG, an organization that certifies that microfinance investment vehicles actually invest in the microfinance sector.
About Opportunity MicroCredit Romania
Established in 2000, Opportunity Microcredit Romania (OMRO) is a microfinance institution that offers loans, training and consulting services to support micro- and small-scale entrepreneurs in Romania. It is a member of the Opportunity International Network, a network of microfinance organizations operating in 24 countries. As of 2011, OMRO reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 16.9 million, a gross loan portfolio of USD 14 million, approximately 2,000 borrowers, return on assets of -0.41 percent and return on equity of -3.05 percent.
About Opportunity International
Based in the United States, Opportunity International is a nonprofit organization that was founded in 1971. Opportunity International provides small business loans, savings, insurance and training to approximately two million poor people in 24 countries in Africa, Asia, South America and Eastern Europe. As of December 31, 2010, Opportunity International reported total assets of USD 150 million with annual revenue of USD 32 million.
Sources and Additional Resources:
Information sent to MicroCapital.org.
MicroCapital.org story, October 14, 2012, “MICROCAPITAL BRIEF: European Fund for Southeast Europe(EFSE) Loans $19m to Sekerbank of Turkey,” https://www.microcapital.org/microcapital-brief-european-fund-for-southeast-europe-efse-loans-19m-to-sekerbank-of-turkey/
MicroCapital.org story, November 15, 2011, “MICROCAPITAL BRIEF: responsAbility Lends $8.2m to Microfinance Institutions (MFIs) FINCA DRC, Bandhan of India, Opportunity Microcredit Romania,” https://www.microcapital.org/microcapital-brief-responsability-lends-8-2m-to-microfinance-institutions-mfis-finca-drc-bandhan-of-india-opportunity-microcredit-romania/
MicroCapital Universe Profile: Opportunity Microcredit Romania
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Opportunity+Microcredit+Romania
MicroCapital Universe Profile: European Fund for Southeast Europe
http://microcapital.org/microfinanceuniverse/tiki-index.php?
page=European+Fund+for+Southeast+Europe+%28EFSE%29
MicroCapital Universe Profile: Opportunity International
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Opportunity+International
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