Incofin Investment Management (Incofin), a Belgian company that develops and manages microfinance investment funds, and the Belgian Investment Company for Developing Countries (BIO in Dutch), a state-owned development finance institution, recently signed a EUR 10 million (USD 12.6 million) agreement intending to assist in developing early-stage microfinance institutions (MFIs) in Africa, Latin America and Asia. Further details on the agreement have not been released.
In 2007, BIO invested EUR 3.5 million (USD 4.3 million) in Incofin’s Rural Impulse Fund I, and in 2010 it invested an undisclosed amount in the launch of Rural Impulse Fund II. Both funds are microfinance investment vehicles that mobilize capital for rural microfinance institutions (MFIs). BIO has also previously invested in Incofin’s Impulse Microfinance Investment Fund, which supports MFIs at later growth stages.
By Charlotte Newman, Research Associate
About Incofin Investment Management
Incofin Investment Management is a private Belgian company that develops and manages funds investing in microfinance institutions (MFIs) in developing countries. As of year-end 2011, Incofin held total assets of USD 38 million and was working with 30 partner institutions in 21 countries that reach 1.8 million microentrepreneurs.
About Belgian Investment Company
The Belgian Investment Company for Developing Countries, also known by the Dutch acronym BIO, was established in 2001 by the Belgian government to promote the creation of a strong private sector in developing countries in an effort to enable them to achieve sustainable development and prosperity. BIO has invested in approximately 90 private sector projects and is present in nearly 60 countries. At fiscal year-end 2010, BIO had EUR 377 million (USD 498 million) in total assets, a 3 percent increase from 2009. The Belgian government has committed to allocating EUR 105 million (USD 138 million) to BIO in 2011.
Sources and Additional Resources:
Belgian Investment Company: “Incofin IM and BIO Join Forces to Broaden Outreach Towards the Less Mature Microfinance Institutions,” http://www.bio-invest.be/en/news/42-incofin-im-and-bio-join-forces-to-broaden-outreach-towards-the-less-mature-microfinance-institutions.html
MicroCapital.org story, January 26, 2012, “MICROCAPITAL BRIEF: Incofin Rural Impulse Fund II, Triple Jump’s ASN-Novib Microkredietfonds Acquire Shares of AzerCredit of Azerbaijan,” https://www.microcapital.org/microcapital-brief-incofin-rural-impulse-fund-ii-triple-jumps-asn-novib-microkredietfonds-acquire-shares-of-azercredit-of-azerbaijan/
MicroCapital.org story, December 14, 2011, “MICROCAPITAL BRIEF: Incofin Lends $6m to Microfinance Institution Vision Banco of Paraguay, Lazika Capital of Georgia, Credit Mongol of Mongolia, Forus Bank of Russia,” https://www.microcapital.org/microcapital-brief-incofin-lends-6m-to-microfinance-institutions-vision-banco-of-paraguay-lazika-capital-of-georgia-credit-mongol-of-mongolia-forus-bank-of-russia/
MicroCapital Universe Profile: Incofin Investment Management
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Incofin+Investment+Management+%28Incofin+IM%29
MicroCapital Universe Profile: Belgian Investment Company
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Belgian+Investment+Company+for+Developing+Countries+%28BIO%29
MicroCapital Universe Profile: Incofin Rural Impulse Funds
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Incofin+Rural+Impulse+Funds+%28RIFs%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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