Global Partnerships (GP), a US-based nonprofit organization that supports microfinance institutions (MFIs) in Latin America, recently reported to MicroCapital that it disbursed loans totaling USD 3 million from its Social Investment Fund 2010 (SIF 2010) to four MFIs in Latin America. GP provided a loan of USD 500,000 to Crediflorida and USD 1 million to Fondo de Desarrollo Regional (Fondesurco), both of Peru; USD 500,000 to Fundación Realidad Asociación Civil (FRAC) of Mexico; and USD 1 million to Fundación para el Desarrollo Microempresarial (D-Miro) of Ecuador.
SIF 2010 is a five-year debt fund that uses social criteria for investment selection, requiring that MFIs prioritize sustainability, financial access for the rural poor and “microfinance plus” programs such as health services or business training [2]. As of June 30, 2010, GP had USD 37.7 million invested in 27 microfinance institutions that serve 845,000 borrowers in seven Latin American countries.
In its 2009 financial report, Crediflorida reported total assets of PEN 13.5 million (USD 4.88 million), gross loan portfolio of PEN 11.7 million (USD 4.2 million), return on equity of 0.17 percent, and approximately 1,900 borrowers. Crediflorida does not report to US-based data provider Microfinance Information Exchange (MIX). For 2009, Fondesurco reported to MIX total assets of USD 17.1 million, gross loan portfolio of USD 12.4 million, return on assets of 5.13 percent, return on equity of 27.2 percent and approximately 9,850 borrowers. For 2009, FRAC reported to MIX total assets of USD 6.83 million, gross loan portfolio of USD 6.25 million, return on assets of 2.85 percent, return on equity of 8.59 percent and approximately 17,100 borrowers. For 2009, D-Miro reported to MIX total assets of USD 23.6 million, gross loan portfolio of USD 19.8 million, return on assets of -2.88 percent, return on equity of -11.8 percent, and approximately 29,400 borrowers.
By: Jacqueline Foelster, Research Associate
About Global Partnerships: Established in 1994, Global Partnerships (GP) is a US-based nonprofit organization that supports microfinance institutions in Latin America via a microfinance investment fund strategy. The company has staff based in Seattle, Washington, and Managua, Nicaragua. As of June 30, 2010, GP had USD 37.7 million invested in 27 microfinance institutions that serve 845,000 borrowers in seven Latin American countries.
About Crediflorida: Crediflorida was founded in 1966 as a nongovernmental organization in Peru to provide technical assistance and in-kind support to rural communities. In 2003, Crediflorida was registered as a cooperative to provide financial services to microentrepreneurs in the coffee industry. Crediflorida does not report to US-based data provider Microfinance Information Exchange (MIX). In its 2009 annual report, Crediflorida reported total assets of PEN 13.5 million (USD 4.88 million), gross loan portfolio of PEN 11.7 million (USD 4.2 million), return on equity of 0.17 percent and approximately 1,900 borrowers with an average loan balance of PEN 6,160 (USD 2,220).
About Fondo de Desarrollo Regional (Fondesurco): Fondesurco is a microfinance institution (MFI) that was established in Peru in 1994. The organization’s mission is to improve the economic status of poor individuals living in remote rural villages. For 2009, Fondesurco reported to US-based data provider Microfinance Information Exchange (MIX) total assets of USD 17.1 million, gross loan portfolio of USD 12.4 million, return on assets of 5.13 percent, return on equity of 27.2 percent and approximately 9,850 borrowers with an average loan balance of USD 1,260 per borrower.
About Fundación Realidad Asociación Civil (FRAC): FRAC is a nonprofit microfinance institution (MFI) located in Mexico. It was founded in 1997 and offers loans in rural and semi-urban areas of Mexico. Its partners include World Vision International, a charitable organization with operations in approximately 100 countries and Kiva, a microfinance fundraising website. For 2009, FRAC reported to US-based data provider Microfinance Information Exchange (MIX) total assets of USD 6.83 million, gross loan portfolio of USD 6.25 million, return on assets of 2.85 percent, return on equity of 8.59 percent and approximately 17,100 borrowers with an average loan balance of USD 366 per borrower.
About Fundación para el Desarrollo Microempresarial (D-Miro): D-Miro was started by Norway-based Mision Alianza in Ecuador in 1997 and has operated as an independent microfinance organization since 2006. For 2009, D-Miro reported to the US-based data provider Microfinance Information Exchange (MIX) total assets of USD 23.6 million, gross loan portfolio of USD 19.8 million, return on assets of -2.88 percent, return on equity of -11.8 percent, approximately 29,400 borrowers with an average loan balance of USD 674 per borrower.
Sources and Additional Resources:
[1] Data reported by Global Partnerships to MicroCapital, January 2011
[2] Global Partnerships, “Global Partnerships Closes $20 Million Fund Aimed at ‘Microfinance Plus’”, September 30, 2010, http://www.globalpartnerships.org/sections/newsinfo/newsinfo_nr_GP_sif_2010.htm
MicroCapital’s Microfinance Universe Profile: Global Partnerships (GP)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Global+Partnerships
MicroCapital’s Microfinance Universe Profile: Crediflorida
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Crediflorida
MicroCapital’s Microfinance Universe Profile: Fondo de Desarrollo Regional (Fondesurco) https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fondo+de+Desarrollo+Regional+%28Fondesurco%29
MicroCapital’s Microfinance Universe Profile: Fundación Realidad Asocación Civil (FRAC)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fundaci%C3%B3n+Realidad+%28FRAC%29
MicroCapital’s Microfinance Universe Profile: Fundación para el Desarrollo Microempresarial (D-Miro)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fundaci%C3%B3n+para+el+Desarrollo+Microempresarial#Fundaci_n_para_el_Desarrollo_Microempresarial_D_Miro_
MicroCapital.org Article, February 5, 2011: “Global Partnerships (GP) Loans a Total of $1.5m to Fondo de Desarrollo Comunal (FONDECO) of Bolivia and Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras”, https://www.microcapital.org/microcapital-brief-global-partnerships-gp-loans-a-total-of-1-5m-to-fondo-de-desarrollo-comunal-fondeco-of-bolivia-and-cooperativa-mixta-mujeres-unidas-limitada-comixmul-of-honduras/
MicroCapital.org Article, October 18, 2010: “United States Nonprofit Global Partnerships Closes Social Investment Fund 2010, Will Invest $20m in Latin American Microfinance Institutions Over Five Years”, https://www.microcapital.org/microcapital-brief-united-states-nonprofit-global-partnerships-closes-social-investment-fund-2010-will-invest-20m-in-latin-american-microfinance-institutions-over-five-years/
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Agents for Impact Disburses $8m from Invest in Visions (IIV) to Microfinance Institutions Digamber of India, Imon of Tajikistan
- MICROFINANCE PAPER WRAP-UP: “Private Asset Impact Fund Report 2022;” by Anne Estoppey, Ramkumar Narayanan; Published by Tameo
- MICROCAPITAL BRIEF: Global Partnerships, Goodwell, Oikocredit Invest $8.5m in Equity in Good Nature Agro to Boost Profits of Small Farms in Southern Africa
- MICROCAPITAL BRIEF: Annapurna of India Borrows $10m from MicroVest to Expand Microfinance for Rural Women
- MICROCAPITAL BRIEF: Stanbic Bank Uganda, IFAD Seek to Reduce Costs of Remittances via FlexiPay E-wallet, Encourage Adoption via SACCOs
