The Consultative Group to Assist the Poor (CGAP) recently reported International Microloan Fund (IMON), a non-bank microfinance institution based in Tajikistan, received loan investments of USD 500 thousand from US-based MicroCredit Enterprises and USD 1 million from Incofin of Belgium this past February 2008.
International Microloan Fund (IMON) is a microfinance institution based in Tajikistan offering micro-loans, leasing, and training and consulting services. Established in 1999 as the National Association of Business Women of Tajikistan (NABWT) in partnership with Mercy Corps International, a US-based international refugee organization, IMON targets small and medium enterprises in an effort to promote economic development and poverty alleviation in the region. IMON currently serves nearly 20 thousand active borrowers with a total loan portfolio of USD 15.2 million as of December 2007.
Founded in 1992, Incofin is a co-operative Socially Responsible Investment (SRI) fund based in Belgium, investing globally in sustainable microfinance institutions to support local entrepreneurship in developing countries. Incofin invests in equity, quasi-equity, debt securities, and guarantees. The fund currently has USD 10.1 million in capital allocated to microfinance institutions worldwide and a projected USD 5.3 million to be invested in the next 12 months.
MicroCredit Enterprises is a non-profit, public US-based charity fund that invests in creditworthy, locally run, locally controlled microfinance institutions in the form of debt-capital. Incepted in 2005, MicroCredit Enterprises currently has USD 23.5 million invested in 26 Microfinance institutions in 13 different countries. They have allocated USD 10 million to be invested in microfinance institutions worldwide in the next twelve months.
By Melissa Duscha
Additional Resources:
The Consultative Group to Assist the Poor (CGAP)
The Consultative Group to Assist the Poor (CGAP) recent list of transactions
International Microloan Fund (IMON)
International Microloan Fund (IMON) Mix Market Profile
WHO’S WHO IN MICROFINANCE: MicroCredit Enterprises
Similar Posts:
- MICROCAPITAL BRIEF: Agents for Impact Disburses $8m from Invest in Visions (IIV) to Microfinance Institutions Digamber of India, Imon of Tajikistan
- MICROCAPITAL BRIEF: Incofin Places $4.3m in Equity in Varashakti Housing Finance via India Progress Fund
- MICROCAPITAL BRIEF: Microfinance Institution PEBCo-Bethesda of Benin Borrows $2m from Incofin via Agricultural Liquidity Fund
- MICROCAPITAL BRIEF: Rite Water of India Nets $8m in Equity from Incofin via Water Access Acceleration Fund
- MICROCAPITAL BRIEF: LOLC Buys 28% Equity Stake in Unguka Bank, Provider of Microfinance in Rwanda, from Incofin
