The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, in partnership with the Multilateral Investment Fund, an investment fund administered by the Inter-American Development Bank (IDB), have recently published the “2010 Microfinance Americas: The Top 100”.
The study finds that “even in the wake of an international financial crisis microfinance in Latin America and the Caribbean continues to excel with growing portfolios and acceptable level of arrears”.
Return on assets of the top 100 microfinance institutions (MFI) have gone down from 2.9 percent in 2008 to 2.2 percent by the end of 2009, due mainly to decreased portfolio incomes and increased reserves. The ranking also shows a marked absence of institutions from Central America primarily because they did not achieve the minimum levels of sustainability required to be condsidered in the study.
The top-ranked MFIs in Latin America and the Caribbean were CrediAmigo of Brazil, Fundación ESPOIR of Bolivia, the Bolivian arm of Pro Mujer, Banco ADOPEM of the Dominican Republic and Banco Caja Social of Colombia.
By Witt Gatchell, Research Associate
About the Microfinance Information Exchange:
Established in 2002, Microfinance Information Exchange (MIX) is a nonprofit organization with headquarters in Washington, DC, and regional offices in Peru, Senegal, India and Indonesia. MIX provides financial and social performance information from microfinance institutions (MFIs), as well as business information from market facilitators and donor organizations and investors in microfinance. MIX Market provides data on approximately 1800 MFIs and 100 investors as of September 2010. MIX was founded by CGAP (Consultative Group to Assist the Poor) and is sponsored by Citi Foundation, Deutsche Bank Americas Foundation, International Fund for Agricultural Development (IFAD) and the Bill & Melinda Gates Foundation.
About Multilateral Investment Fund (MIF):
The Multilateral Investment Fund (MIF) was founded in 1993 by the Inter-American Development Bank (IDB) to promote broad-based economic growth through private sector development, particularly microenterprises and small businesses. The fund partners with small businesses via grants and investment. MIF reports having approved more than 1000 projects, mainly grants, with over 800 civil society, private sector and government partners since its founding. The fund has recently started decentralizing its operations, giving IDB country offices more autonomy to distribute “mini-loans,” with the idea that a greater amount of smaller projects will reach more people. The MIF has 38 donating member countries from Latin America, the Caribbean, North America, Europe and Asia. The United States and Japan, each having contributed USD 500 million, play leading roles in the organization.
About Fundación ESPOIR:
Fundación ESPOIR is an Ecuadorian non-governmental organization (NGO) founded in 1992 that specializes in communal banking for women. The organization is based in Quito, Ecuador, and has several branch offices across the country. As of year-end 2009, Fundación ESPOIR has 43,360 active borrowers, a gross loan portfolio of USD 20.5 million and USD 22.6 million in total assets.
About Pro Mujer:
Pro Mujer is a women’s development and microfinance organization, established in 1990, that provides microfinance services, healthcare and training to 202,000 women in Latin America. These services are delivered through communal banks, or peer groups, of 20 to 30 women who support each other and guarantee each other’s loans. Pro Mujer has a presence in Argentina, Bolivia, Mexico, Nicaragua, Peru and THE US. As of 2008 Pro Mujer reported total assets of USD 62.5 million.
Sources and Additional Resources:
[1] MIX Press Release: “2010 Microfinance Americas: The Top 100 Released” http://www.themix.org/press-release/2010-microfinance-americas-top-100-released
2010 Microfinance Americas: The Top 100 http://www.themix.org/sites/default/files/2010%20Microfinance%20Americas%20-%20The%20Top%20100%20-%20EN.pdf
MicroCapital’s Microfinance Universe profile: Microfinance Information Exchange:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microfinance+Information+Exchange+%28MIX%29
MicroCapital’s Microfinance Universe profile: Multilateral Investment Fund (MIF):
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Multilateral+Investment+Fund+%28MIF%29
MicroCapital’s Microfinance Universe profile: Pro Mujer
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pro+Mujer
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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