In its list of recent transactions, CGAP (Consultative Group to Assist the Poor) reported that Austrian investment firm Dual Return loaned USD 1,000,000 through its Vision Microfinance Fund to nonprofit microlender FINCA Armenia.
Search Results for: "FINCA Azerbaijan"
MICROCAPITAL STORY: responsAbility Global Microfinance Fund (rAGMF) of Luxembourg Lends a Total of $3.25m to the Foundation for International Community Assistance (FINCA) in Azerbaijan, Kyrgyzstan, and Georgia
The Consultative Group to Assist the Poor (CGAP) reports in its list of recent transactions that the responsAbility Global Microfinance Fund (rAGMF) financed USD 750,000 in loans to the Foundation for International Community Assistance Azerbaijan (FINCA Azerbaijan) on February 27, 2008, USD 1 million to FINCA MicroCredit Company (FMCC) of Kyrgyzstan on March 17, 2008, and USD 1.5 million to FINCA Georgia on March 19, 2008. The transaction to FINCA Azerbaijan is not to be confused with a separate responsAbility Microfinance Leaders Fund (rAMLF) loan taking place on the same date for the exact same amount, which was reported on by MicroCapital here.
NEWS WIRE: Azerbaijan: Local FINCA Microfinance Institution to Convert to Bank
Source: Abc.az.
MICROCAPITAL STORY: Finethic Microfinance S.C.A. of Luxembourg Lends $1m to Microfinance Institution (MFI) FINCA Armenia and $1m to MFI FINCA Kyrgyzstan
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) reports that Finethic Microfinance S.C.A., a Luxembourg-based microfinance investment company, has issued loans of USD 1 million to microfinance institution (MFI) FINCA Armenia and USD 1 million to MFI FINCA Kyrgyzstan.
MICROCAPITAL STORY: Three Microfinance Institutions (MFIs) Account for Over Half of Azerbaijan Micro-finance Association’s (AMFA) Total Loan Portfolio for the First Quarter of 2008
According to ABC.AZ, a business information portal, the Azerbaijan Micro-finance Association (AMFA), a supportive organization for a network of 22 microfinance institutions (MFIs) and downscaling commercial banks in the country, has released first quarter 2008 performance statistics for its members. Accounting for 53 percent of AMFA’s total loan portfolio of USD 424.3 million were CredAgro, the Foundation for International Community Assistance Azerbaijan (FINCA Azerbaijan), and the Micro Finance Bank of Azerbaijan (MFBA) whose combined portfolios totaled USD 228.1 million.
PAPER WRAP-UP: Benchmarking Azerbaijan Microfinance 2006, Nigar Pirmamedova
Authored by Nigar Pirmamedova, the Chief Accountant and Financial Manager for the Azerbaijan Micro-finance Association (AMFA), a Baku-based institution with 22 member organizations, in partnership with the Microfinance Information eXchange (MIX), released January 2008, nine pages, available at http://www.mixmbb.org/Publications/002-REG/EASTERN%20EUROPE%20AND%20CENTRAL%20ASIA%20(ECA)/04-Azerbaijan%20Benchmarking%20Reports/Azerbaijan%20Benchmarking%20Report%202006.pdf
Switzerland-based Symbiotics Intermediates a USD 3 mn Loan from Microfinance Loan Obligations to Foundation for International Community Assistance (FINCA) Azerbaijan
Another story courtesy of the CGAP/MIX Capital Markets newsletter. The Foundation for International Community Assistance (FINCA) in Azerbaijan received a USD 3 mn loan from the Microfinance Loan Obligations, S.A. through the intermediary of the Switzerland-based facilitator, Symbiotics. FINCA Azerbaijan is a microfinance institution (MFI) that was established in 1998 to “provide financial services to the world’s poorest families.” According to MIX market, the microfinance information clearinghouse, FINCA Azerbaijan has USD 20.9 mn in total assets and a gross loan portfolio of USD 19.2 mn spread throughout nearly 50,000 active borrowers (as of 31 December 2006). Microfinance Loan Obligations does not report to the MIX market. Symbiotics is an investment intermediary that has facilitated over USD 150 mn in loans. Symbiotics also provides investment services to fund managers and investors specializing in microfinance.
responsAbility Global Microfinance Fund Loans Over $1 Million to MFLO Opportunity Eastern Europe, Bai Tushum, Russian Women Microfinance Network and Agency for Finance in Kosovo
In addition to its recent $900,000 investment in FINCA Azerbaijan, responsAbility Global Microfinance Fund loaned over $1 million to microfinance institutions in Eastern Europe. responsAbility, established in 2003 under Luxembourg law, is classified as a private investor and open-ended investment fund. In May 2006, it reported a total fund volume of $57 million and microfinance investments of $53 million.