Recently, 
Belgium-based Incofin Investment Management (IM) lent USD 2 million from its Incofin CVSO fund to Bina Artha, a microfinance institution (MFI) in Indonesia. Incofin IM acknowledges that, due to the COVID-19 pandemic, the loan comes “at a time of tight liquidity management and operations stabilization efforts from the MFI.” Founded in 2011 as a venture capital firm, Bina Artha serves low-income women in rural areas. It lends to individuals and groups in amounts from IDR 2.5 million (USD 173) to IDR 50 million (USD 3,460) over periods of four months to three years. The vision of the MFI is “that providing access to finance to low-income households engaged in micro- and small enterprises in Indonesia gives them an important tool to achieve economic and social upliftment.” As of March 2021, Bina Artha has a portfolio of IDR 1.1 trillion (USD 78 million) outstanding to about 350,000 clients served via 345 branches in eight provinces in Indonesia. Bina Artha is owned by CreditAccess SEA, which also owns the MFI CreditAccess Philippines and has an operating agreement in place with CreditAccess India.
Founded in 2001, Incofin IM is a for-profit firm that seeks “to promote inclusive progress.” As of 2021, it has 320 investees in 66 countries, mostly active in financial inclusion and agriculture. Incofin IM’s portfolio is valued at USD 1 billion and comprises the following funds: agRIF, BRS Microfinance Coop Fund, Fairtrade Access Fund (FAF), Fonds pour l’Inclusion Financière en République Démocratique Congo, Incofin CVSO, Invest in Visions, Rural Impulse Fund II, Volksvermogen and a loan portfolio of vdk bank.
By Teo Lin-Bianco, Research Associate
Sources and Additional Resources
Direct contact with Incofin IM
Bina Artha homepage
https://bina-artha.com/
Previous MicroCapital Article on Incofin IM
https://www.microcapital.org/microcapital-brief-incofin-assists-soprocopiv-coffee-cooperative-with-fairtrade-certification-covid-19-adjustment-in-democratic-republic-of-congo-drc/
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