Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Fundación para el Desarrollo de la Microempresa (FUDEMI) received a USD 300,000 loan from Oikocredit. FUDEMI was created in 1991 in Managua, Nicaragua, with the vision of contributing to the economic and social development of micro-entrepreneurs by means of credit necessities and other financial services. According to the MIX Market, the microfinance clearing house, as of December 31st 2005, FUDEMI had a gross loan portfolio of USD 2,116,235, total assets of 2,270,996, a return on assets of 3.97% and a debt to equity ratio of 345.56%.
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