Société de Promotion et de Participation pour La Coopération Economique (PROPARCO), a French public-private development finance institution, reportedly has opened a credit line of HTG 178 million (USD 4.1 million) for Association pour la Cooperation avec la Micro Enterprise (ACME), a Haitian microfinance institution (MFI), to increase its lending portfolio. Further information on the loan- such as the interest rate- is unavailable.
As of 2012, ACME reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 29.3 million, a gross loan portfolio of USD 23.7 million, return on assets (ROA) of 2.53 percent, return on equity (ROE) of 8.9 percent and approximately 33,100 borrowers. ACME does not accept deposits. In 2012, PROPARCO reported a loan portfolio of EUR 3.1 billion (USD 4.1 billion) disbursed to 63 projects in 60 countries.
By Megan McGowan, Research Associate
About Association pour la Cooperation avec la Micro Enterprise (ACME):
Association pour la Cooperation avec la Micro Enterprise (ACME) is a microfinance institution that was established in Port-au-Prince, Haiti in 1997. ACME provides microloans to individuals in the “medium and lower part of the informal sector.” As of 2012, ACME reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 29.3 million, a gross loan portfolio of USD 23.7 million, return on assets (ROA) of 2.53 percent, return on equity (ROE) of 8.9 percent and approximately 33,100 borrowers. ACME does not accept deposits.
About PROPARCO:
Established in 1977, Société de Promotion et de Participation pour La Coopération Economique (PROPARCO – The Investment and Promotions Company for Economic Cooperation) is a development finance institution based in Paris, France, that is jointly held by private shareholders and the Agence Francaise de Developpement (AFD), an institution of the French government. PROPARCO’s mission is “to be a catalyst for private investment in developing countries which targets growth, sustainable development and reaching the United Nation’s Millennium Development Goals (MDGs).” In 2012, PROPARCO reported a loan portfolio of EUR 3.1 billion (USD 4.1 billion) disbursed to 63 projects in 60 countries.
Sources and Additional Resources:
[1] Haiti Libre: “Haiti- Economy: 3 Million Euros for Micro-finance,” http://www.haitilibre.com/en/news-10049-haiti-economy-3-million-euros-for-micro-finance.html
MicroCapital: “Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO) to Loan $10m to Societe Generale Ghana, Part for Small, Medium-Sized Enterprises (SMEs),” June 28, 2013, https://www.microcapital.org/microcapital-brief-societe-de-promotion-et-de-participation-pour-la-cooperation-economique-sa-proparco-to-loan-10m-to-societe-generale-ghana-part-for-smallmedium-sized-enterprises-smes/
MicroCapital: “Multilateral Investment Fund (MIF) to Place Equity Investment, Grant in Microfinance Institution ACME of Haiti,” August 6, 2012, https://www.microcapital.org/microcapital-brief-multilateral-investment-fund-mif-to-place-equity-investment-grant-in-microfinance-institution-acme-of-haiti/
MicroCapital Universe Profile: Association pour la Cooperation avec la Micro Enterprise ?http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Association+pour+la+Cooperation+avec+la+Micro+Enterprise+%28ACME%29
MicroCapital Universe Profile: PROPARCO ?https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=PROPARCO
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