Another deal coming to us courtesy of the CGAP-MIX MCM Newsletter, the Morocco based Association Al Karama de Micro Credit, received a USD 155, 700 loan from responsAbility Global Microfinance Fund. Creates in 1999, Al Karma mission is to help fight poverty by providing financial services to micro-enterprises. According to the MIX Market, the microfinance clearing house, as of December 31st 2006, its gross loan portfolio equaled USD 1,741,806 and its total assets were USD 2,140,920. Its debt to equity ratio was 3.96%, and as of December 2006, Al Karama had 8,071 active borrowers.
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Fundación Campo of El Salvador Receives $100,000 Loan from the ResponsAbility Global Microfinance Fund
Another deal coming to us courtesy of the CGAP-MIX MCM Newsletter, the El Salvador based Fundación Campo received a USD 100,000 loan from responsAbility Global Microfinance Fund. Created in 1996, Fundación Campo goal is to provide financial services to the micro- and small- business sector in order to create sustainable development. According to the MIX Market, the microfinance clearing house, as of December 31st 2005, its gross loan portfolio equaled USD 2,141,731 and its total assets were USD 2,592,520. Its debt to equity ratio was 17.94%, its return on assets was 6.42% and its return on equity was 7.07%. In addition, as of December 2005, Fundación Campo had 2,962 active borrowers.
AMC de R.L of El Salvador Receives $100,000 Loan from the ResponsAbility Global Microfinance Fund
Another deal coming to us courtesy of the CGAP-MIX MCM Newsletter, Sociedad Cooperativa de Ahorro y Crédito AMC de R.L., better known as AMC de R.L, received a USD 100,000 loan from the responsAbility Global Microfinance Fund. Created in 2001, this El Salvador based institution’s goal is to provide financial services to the micro- and small- business sector in order to create sustainable development. According to the MIX Market, the microfinance clearing house, as of December 31st 2005, its gross loan portfolio equaled USD 6,573,232 and its total assets were USD 8,560,858. Its debt to equity ratio was 242.76% , its return on assets was 2.41% and its return on equity was 8.40%. In addition, as of December 2005, AMC de R.L. had 8,783 active borrowers.
responsAbility Global Microfinance invests 500,000 in the Nicaraguan Microfinance Institution Fundeser
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, responsAbility Global Microfinance Fund loans USD 500,000 in the Nicaraguan based microfinance institution, Fundeser. Fundeser (Fundación para el Desarrollo Socioeconómico Rural) began as a credit and training program for small agricultural producers in Nicaragua in 1997 and became legally established as a non-governmental organization in 2000. According to the MIX Market, the microfinance clearing house, at the end of 2005, its gross loan portfolio equaled USD 4,294,195 and its total assets were USD 4,982,614. Its debt to equity ratio was 329.83%, its return on assets was 2.25% and its return on equity was 9.09%. In addition, as of December 2005, Fundeser had 7,244 active borrowers.
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Luxembourg Fund Labeling Agency Luxflag Grants Microfinance Labels to Dexia Micro-Credit Fund, European Fund for Southeast Europe and responsAbility Micro-Credit Fund
The Luxembourg Fund Labeling Agency (LuxFLAG) announced its granting of the first LuxFLAG Microfinance labels to three funds: Dexia Micro-Credit Fund, European Fund for Southeast Europe, responsAbility Global Micro-Credit Fund. The official certificates were granted at a ceremony in Luxembourg on 31 January 2007 in the presence of the Minister for Development Cooperation and Humanitarian Action, Mr. Jean-Louis Schiltz.
MicroFinance Securities XXEB Sells USD 225,000 in Equity to the ResponsAbility Global Microfinance Fund
The MCM newsletter recently announced that the microfinance investment fund responsAbility Global Microfinance Fund bought USD 225,000 in shares of Microfinance Securities XXEB, a USD60 million securitization of microfinance institutions’ loans.
ResponsAbility Global Microfinance Fund Lends to TPC of Cambodia and PRASAC of Cambodia
As reported in this edition of the CGAP-MIX MCM Newsletter, TPC of Cambodia borrowed THB 9,63 million (USD 263,862) from the responsAbility Global Microfinance Fund. Also, PRASAC of Cambodia, borrowed USD 500,000 from the responsAbility Global Microfinance Fund.
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The ResponsAbility Global Microfinance Fund Distributes Loans to Various Organizations in Latin America
As reported in this edition of the CGAP-MIX MCM Newsletter, the responsAbility Global Microfinance Fund has made several loans recently to various organizations in Latin America: Edpyme Crear Arequipa of Peru ($1 million), AgroCapital of Bolivia ($500,000), Compartamos of Mexico ($1.47 million), Banco ProCredit of Ecuador ($1 million), Cecocafen of Nicaragua ($500,000), and Credivision of Peru ($300,000).
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ResponsAbility of Switzerland Launches ResponsAbility Microfinance Leaders Fund
ResponsAbility has launched its second microfinance fund, the ResponsAbility Microfinance Leaders Fund. The fund has an initial volume of $100 million and will be directed specifically towards the microfinance market. As stated in the press release, “The fund’s primary purpose is to offer debt capital to leading microfinance institutions (MFIs) in the form of loans with maturities of up to five years. It may also invest in MFI equity to a limited extent. The new vehicle is a response to the growing need for local currency financing, also providing local currency funding and hedging options often not available to MFIs. In addition, the fund’s flexible investment concept enables it to participate in securitizations, bond issues and other financial instruments. The fund may also buy different types of securities on the secondary market.”
Continue reading “ResponsAbility of Switzerland Launches ResponsAbility Microfinance Leaders Fund”The ResponsAbility Global Microfinance Fund Distributes Loans to Various Microfinance Institutions in Latin America
As reported in this edition of the CGAP-MIX MCM Newsletter, the responsAbility Global Microfinance Fund has made several loans recently to various microfinance institutions in Latin America: EcoFuturo of Bolivia ($500,000), FIMEDER of Mexico ($1,955,000), Edpyme Nueva Vision of Peru ($250,000), Fondesurco of Peru ($180,000), Edpyme Confianza of Peru ($1 million), and Unicreich of Mexico ($453,310).
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FADES of Bolivia Receives $500,000 Loan from the ResponsAbility Global Microfinance Fund.
Another deal coming to us this month courtesy of the CGAP-MIX MCM Newsletter, the Fundación para Alternativas de Desarrollo (FADES) of Bolivia received a $500,000 loan from the responsAbility Global Microfinance Fund.
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Prestanic of Nicaragua Receives $400,000 Loan from the ResponsAbility Global Microfinance Fund.
Another deal coming to us this month courtesy of the CGAP-MIX MCM Newsletter, the Asociación Fondo Nicaraguense Para el Desarollo Comunitario, better known as Prestanic, Nicaragua, received a $400,000 loan from the responsAbility Global Microfinance Fund.
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Global Microfinance Fund responsAbility Buys Equity in ProCredit Holding
Another deal coming to us this month courtesy of the CGAP-MIX MCM Newsletter, the Europe based fund responsAbility bought shares worth EUR 2.7 million (USD 3.43 million) from ProCredit Holding A.G. ProCredit was recently in the news when TIAA-CREF bought USD 43 million worth of preference shares in ProCredit.
Continue reading “Global Microfinance Fund responsAbility Buys Equity in ProCredit Holding”responsAbility Global Microfinance Fund Makes Nearly $3 Million Microfinance Investment: Loans to FINCA Azerbaijan, Credo Foundation of Georgia, Constanta Foundation of Georgia, MicroInvest of Moldova
responsAbility Global Microfinance Fund loaned $2,902,000 to microfinance institutions in Eastern Europe and Central Asia. responsAbility, established in 2003 under Luxembourg law, is classified as a private investor and open-ended investment fund. In July 2006, it reported a total fund volume of $70.2 million as well as microfinance and free trade investments of $65.5 million. MicroCapital recently reported on responsAbility’s $800,000 investment in BlueOrchard Loans for Development.
responsAbility Global Microfinance Fund Makes $800,000 Microfinance Investment in BlueOrchard Loans for Development
responsAbility Global Microfinance Fund loaned $800,000 to BlueOrchard Loans for Development (Bold) 2006, Worldwide.
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responsAbility Pursues Further Microfinance Investment in Cambodia with $1 million to PRASAC
A Swiss microfinance investment fund founded in 2003, responsAbility Global Microfinance Fund reported over $70 million in total assets as of July 31, 2006, with $65.6 million allocated to microfinance investments.
Cambodia’s Hattha Kaksekar receives $250,000 Microfinance Investment from responsAbility
Hattha Kaksekar Limited (HKL), a Cambodian microfinance institution (MFI), was established in 1996. Total assets reported to the MIX Market were $4.2 million with a return of 5.12% as of year end 2005. The gross loan portfolio totaled $3.8 million, serving 8,475 active borrowers. Total equity was reported at $1.6 million, with a debt to equity ratio of 169.19%.
responsAbility Global Microfinance Fund Loans $750,000 to Microfinance Institution (MFI) Fundacion Nieborowski in Nicaragua
responsAbility Global Microfinance Fund loaned $750,000 to Fundacion Jose Nieborowski, a non-profit established in 1993 to promote development in the province of Boaca, Nicarauga. Fundacion Nieborowski reported a gross loan portfolio of $15.6 million, total assets of $17.7 million, total equity of $4 million, return on assets of 4.21%, and return on equity of 19.4% to the MIX Market. MicroCapital recently reported on the $1 million syndicated loan it received from the Triodos-Doen fudn.