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MICROCAPITAL STORY: responsAbility Mikrofinanz-Fonds Loans $1m to Eastern Europe Microenterprise Development Fund Kamurj and $2.5m to Eastern Europe Azerdemiryolbank
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported Swiss Microfinanz-Fonds issued a loan of USD 1 million to Microenterprise Development Fund Kamurj and a loan of USD 2.5 million to microfinance institution (MFI) Azerdemiryolbank of Azerbaijan.
MICROCAPITAL STORY: Eastern Europe Microfinance Institution LOKMicro Receives Over $6m in Loans from responsAbility Mikrofinanz-Fonds, responsAbility Microfinance Leaders Fund and VDK MFI Loan Portfolio
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported LOKMicro, a Eastern Europe microfinance institution (MFI), received a loan of USD 1.4 million from responsAbility Mikrofinanz-Fonds, a loan of USD 2.0 million from responsAbility Microfinance Leaders Fund and a loan of USD 2.8 million from the VDK MFI Loan Portfolio.
MICROCAPITAL STORY: responsAbility Global Microfinance Fund of Switzerland Lends $500k to Microfinance Institution ENLACE and $487k to Microfinance Institution EDPYME Confianza
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported responsAbility Global Microfinance Fund, a Luxembourg-based fund, issued a loan of USD 500,000 to ENLACE and a loan of USD 487,439 to EDPYME Confianza, both Latin America microfinance institutions (MFIs).
MICROCAPITAL STORY: Swiss responsAbility Microfinanz-Fonds Loans over $1.3m to Eastern Europe Microfinance Institution MIKROFIN
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported responsAbility Microfinanz-Fonds, a Luxembourg-based fund, has issued a loan of USD 1.36 million to MIKROFIN, an Eastern Europe microfinance institution (MFI).
MICROCAPITAL STORY: Swiss responsAbility Microfinanz-Fonds Loans over $953k to Latin America Microfinance Institutions Fundación CAMPO and COOPROGRESO
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported responsAbility Microfinanz-Fonds, a Luxembourg-based fund, has granted a loan of USD 219,997 to Fundación CAMPO, a Latin America microfinance institution (MFI) and a loan of USD 733,326 to another Latin America MFI, COOPROGRESO.
MICROCAPITAL STORY: responsAbility Global Microfinance Fund of Switzerland Lends $500k to Microfinance Institution Thaneakea Phum (Cambodia) LTD and $4m to Microfinance Institution PRASAC MFI LTD
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported responsAbility Global Microfinance Fund, a Luxembourg-based fund, has issued a loan of USD 500,000 to microfinance institution (MFI) Thaneakea Phum (Cambodia) Ltd and a loan of USD 4 million to PRASAC MFI Ltd.
MICROCAPITAL STORY: ResponsAbility Global Microfinance Fund of Switzerland Lends over $1m to Peru-based Edpymes Proempresa
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported responsAbility Global Microfinance Fund, a Luxembourg-based fund, has granted a loan of USD 1.02 million to Edpymes Proempresa, a Latin America microfinance institution (MFI).
MICROCAPITAL STORY: ResponsAbility Global Microfinance Fund of Switzerland Lends over USD 2.1 Million to Fondesurco, Fundación ESPOIR and LOKMicro
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported responsAbility Global Microfinance Fund, a Luxembourg-based fund, has booked a series of loans totaling over USD 2.1 million to three microfinance institutions (MFIs). Fondo de Desarrollo Regional (Fondesurco) and Fundación ESPOIR, two Latin American MFIs, borrowed USD 200,000 each. LOKMicro, a MFI based in Eastern Europe, received a loan of approximately USD 1.7 million. The three separate transactions occurred in August of this year.
MICROCAPITAL STORY: ResponsAbility Global Microfinance Fund of Switzerland Loans over USD 1.1 Million to Unión de Crédito Interestatal Chiapas (Unicreich) of Mexico and PRESTANIC of Nicaragua
Here is yet another story coming courtesy from the latest issue of the Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse. ResponsAbility Global Microfinance Fund has made a series of loans totaling over USD 1.1 million to two Latin American microfinance institutions (MFIs). The two MFIs—Unión de Crédito Interestatal Chiapas (Unicreich) and PRESTANIC—received USD 462,800, USD and USD 500,000, respectively. The loans took place in July of this year, two of the seven loan investments undertaken by the microfinance fund. The Latin American loans consist of 13.3 percent of the fund’s July microfinance investments, which totaled over USD 7.2 million.
MICROCAPITAL STORY: Swiss ResponsAbility Microfinanz-Fonds Begins Microfinance Investing and Loans USD 500,000 and USD 344,456 Respectively to PRESTANIC in Latin America and Al Karama in Middle East
This story comes courtesy of the latest issue of the Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse. The responsAbility Microfinanz-Fonds, a microfinance investment vehicle launched this month, has begun its investment business with two loans of USD 500,000 and USD 344,456 to microfinance institutions (MFIs) PRESTANIC and the Association Al Karama de Micro Credit (Al Karama), respectively. Microfinanz-Fonds is managed by responsAbility Social Investment Services Ltd., a Swiss investment firm founded in 2003 specializing in social investment in the developing world. Now the third microfinance investment fund managed by responsAbility, Microfinanz-Fonds has a loan investment portfolio of USD 27.0 million. The fund’s portfolio is financed by its shareholders, Bank im Bistum Essen, a German cooperative financial institution, and Stadtsparkasse Düsseldorf, a German bank.
responsAbility Global Microfinance Fund Makes Loans Totaling over USD 2.2 mn to Microfinance Institutinos in the Philippines, Peru, Nicaragua and Moldova
This story comes to us courtesy of the CGAP-MIX newsletter. In the wake of several other microfinance investments this month, responsAbility Global Microfinance Fund continues its streak with four additional loans ranging from USD 200,000 to USD 1 mn, totaling USD 2.2 mn. The first of the loans is a USD 200,000 investment going to the Cooperative Rural Bank of Bulacan of the Philippines. The Cooperative Rural Bank of the Bulacan does not report to MIX market, the microfinance information clearinghouse, nor does it make its financial data available to the public.
ResponsAbility Global Microfinance Fund Provides USD 500,000 to Jordan-based National Microfinance Bank (Alwatani)
responsAbility Global Microfinance Fund, a Luxembourg-based microfinance fund, provided a loan totaling USD 0.5 mn to the National Microfinance Bank (Alwatani) of Jordan. Alwatani is a private shareholding of a non-profit company with the mission of delivering “sustainable financial services to micro and small entrepreneurs in Jordan, particularly women.” It was created as a partnership between King Abdullah II Fund for Development, AGFUND, a nonprofit regional development program, and two private sector investors. As of 31 December 2006, Alwatani has 9,048 active clients, of which 7,179 are female, and reports 9,738 total loans disbursed totaling to the equivalent of USD 10.2 mn. Alwatani reports covering 56% of its costs with operating revenue.
responsAbility lends USD 3.9 to 7 Latin American Microbanks: FDL, ADMIC, Prestanic, ProCredit Ecuador, AMC-SV, Fundación Campo, Corporación de Productores Café
ResponsAbility Global Microfinance Fund, a Luxembourg-based fund, provided loans to 7 Latin American microfinance institutions (MFIs) totaling over USD 3.9 mn. The first USD 1 mn loan went to Nicaraguan nonprofit MFI Fondo de Desarrollo Local (FDL). FDL reported to MIX market, the microfinance information clearinghouse, to having a gross loan portfolio of USD 43.8 mn at the end of 2006 and USD 55.2 mn in total assets during the same period. It has USD 9.7 mn in total equity and 61,555 active borrowers. ResponsAbility lent USD 981,600 to Mexican MFI AsesorÌÐa Dinámica a Microempresas (ADMIC), which most recently reported to MIX market on 31 December 2002. At that point, ADMIC had 6,630 active borrowers, a gross loan portfolio of USD 3.1 mn and USD 4.9 mn in total assets. The next loan of USD 600,000 went to Nicaraguan MFI Prestanic. As of 31 December 2005, Prestanic has 5,968 active borrowers, a gross loan portfolio of USD 6.9 mn and USD 8.8 mn in total assets. Banco ProCredit of Ecuador received at USD 500,000 loan. As of 31 December 2006, Banco ProCredit reported to MIX market as having 39,350 active borrowers, a gross loan portfolio of USD 117.4 mn and USD 136.9 in total assets. A USD 400,000 loan went to Sociedad Cooperativa de Ahorra y Crédito of El Salvador, which, as of 31 December 2005, has 8,783 active borrowers, a gross loan portfolio of over USD 6.5 mn and USD 8.56 mn in total assets. Another MFI from El Salvador, Fundación Campo, received a loan of USD 200,000. It reported at the end of 2005 to having 2,962 active borrowers, a gross loan portfolio of USD 2.1 mn and over USD 2.5 mn in total assets. The Peruvian MFI Corporación de Productores Café, which does not report to MIX market, rounds out the group by receiving USD 250,000 in loans.
Continue reading “responsAbility lends USD 3.9 to 7 Latin American Microbanks: FDL, ADMIC, Prestanic, ProCredit Ecuador, AMC-SV, Fundación Campo, Corporación de Productores Café”
responsAbility Global Microfinance Fund provides USD 3.9 mn in loans to Serbian Microfinance Institution AgroInvest Holding
This story comes to us courtesy of the CGAP-MIX newsletter. ResponsAbility Global Microfinance fund provided a loan of the equivalent of USD 3.9 mn to Serbian Microfinance Institution (MFI) AgroInvest Holding. AgroInvest was founded in 1999 with the mission of “serving and empowering rural families with high-quality financial services.” It began as a microfinance initiative of the NGO World Vision of Montenegro, but now is a for-profit, multinational non-bank financial institution. AgroInvest reports to MIX market, the microfinance information clearinghouse, as having 14,679 active borrowers, a gross loan portfolio of USD 18 mn and USD 21 mn in total assets as of 31 December 2005. ResponsAbility was created in 2003 by several large Swiss financial institutions. It has USD 96 mn in fund assets as of 31 January 2007 and also reports that USD 89 mn of its fund assets were allocated to microfinance investments during the same period.
Cambodian Microfinance Institution Thaneakea Phum Cambodia receives USD 1.57 mn in Loans from ResponsAbility Global Microfinance Fund
Cambodian microfinance institution (MFI) Thaneakea Phum (Cambodia) Ltd. (TPC) received a USD 1.57 loan from the responsAbility Global Microfinance Fund. TPC began as part of the Small Enterprise Development program of the Catholic Relief Services in Cambodia, but has since evolved into a limited liability company licensed as a microfinance institution by the National Bank of Cambodia. MIX market, the microfinance information clearinghouse, reports that THC has 55,870 active borrowers, a gross loan portfolio of USD 7.3 mn and USD 7.7 mn in total assets as of 31 December 2006. ResponsAbility was created in 2003 by several large Swiss financial institutions. It has USD 96 mn in fund assets as of 31 January 2007 and also reports that USD 89 mn of its fund assets were allocated to microfinance investments during the same period.
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Pro Mujer Bolivia Receives 1 Million in Microfinance Loans from Hivos-Triodos and responsAbility Global Microfinance
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Pro Mujer Bolivia received a USD 500,000 loan from Hivos-Triodos Fund and a USD 500, 000 loan from responsAbility Global Microfinance Fund. Pro Mujer is an international microfinance network which offers an integrated package of services including loans, savings, business training, healthcare and education to Latin America’s poorest female entrepreneurs. Established in Bolivia in 1990, Pro Mujer also operates in Argentina, Mexico, Nicaragua and Peru. Pro Mujer Bolivia is Pro Mujer’s pilot program, and has been the model on which all the other country programs have been built. As of December 2006 Pro Mujer Bolivia had 74,106 active borrowers. Its gross loan portfolio equaled USD 13,588,275, total assets equaled USD 18,320,623, total equity equaled USD 8,573,644 and its debt to equity ratio was 113.69%.
Microfund for Women Receives $350,000 Loan from the ResponsAbility Global Microfinance Fund
Another deal coming to us courtesy of the CGAP-MIX MCM Newsletter, the Jordan based Microfund for Women received a USD 350,000 loan from responsAbility Global Microfinance Fund. Established in 1994, this not-for-profit Microfinance institution mission is to provide sustainable financial and non-financial services to micro-entrepreneurs in Jordan. According to the MIX Market, the microfinance clearing house, as of December 31st 2006, its gross loan portfolio equaled USD 8,803,185 and its total assets were USD 9,481,823. Its debt to equity ratio was 62.90%, and as of December 2006 Microfund for Women had 23,501 active borrowers.