Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, ACCOVI (Asociación Cooperativa de Ahorro y Crédito Vincentina de R.L.) based in El Salvador, received a USD 2 mm loan from Oikocredit. Established in 1965, ACCOVI’s mission is to provide financial services in order to strengthen the social-economic development of the Paracentral zone in an effort to assist the development of the country. According to the MIX Market, the microfinance clearing house, as of December 31st 2005, ACCOVI had a gross loan portfolio of USD 26,343,180, total assets of 34,339,300, a return on assets of 0.07% and a debt to equity ratio of 391.71%.
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