Nicaragua-based ACODEP received a USD 2 mm loan from Oikocredit and a USD 500,000 loan from responsAbility Global Microfinance Fund. ACODEP intends to use the funds to build its client base from the current 51,444 to 118,000 by 2009. ACODEP, or Asociación de Consultores para el Desarrollo de la Peque̱a, Mediana y Microempresa, began in 1990 with a focus on providing microloans to Nicaragua’s urban poor. According to the MIX Market, the microfinance clearing house, ACODEP had assets of USD 19.5 million and a loan portfolio worth USD 15.8 million. In addition, its debt to equity was 309% and return on assets stood at 8.9 %.
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Fondo de Desarrollo para la Mujer Receives $800,000 Loan from Oikocredit
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Fondo de Desarrollo para la Mujer (FODEM) a Nicaraguan based microfinance institution, received a USD 800,000 loan from Oikocredit. Created in 2001, FODEM’s mission is to offer financial services to female entrepreneurs throughout Nicaragua, in order to contribute to the nation’s growth and economic independence. As stated on the MIX Market, the microfinance institution informational clearinghouse, as of December 2005, FODEM had 48,261 active borrowers, a gross loan portfolio of USD 2,857,568, and total assets of USD 2,981,017. Its debt to equity ratio was 152.68%, its return on assets was 8.82%, and its return on equity was 21.03%.
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Oikocredit Invests 1 million in Union de Credito Monarca SA de C.V.
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter, Oikocredit loans USD 1 mm to the Mexican based microfinance institution, Union de Credito Monarca SA de C.V. Union de Credito Monarca, does not report to the MIX Market, the microfinance clearing house, and no further information about its performance is currently available.
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Oikocredit Invests 2 million in the El Salvador based Microfinance Institution ACCOVI
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%.
Oikocredit Invests 650,400 in the Senegalese Institution Mutualiste Communautaire d’Epargne et de Credit THIES
Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter. Institution Mutualiste Communautaire d’Epargne et de Credit THIES (IMCEC) based in Senegal, Africa, received a USD 650, 400 investment from Oikocredit. Founded in 2001, IMCEC’s goal is to provide families with appropriate access to financial services so that they obtain a stable income. According to the MIX Market, the microfinance clearing house, as of December 31st 2003, IMCEC had a gross loan portfolio of USD 571,122, total assets of 907,359, a return on assets of -8.01% and a debt to equity ratio of 147.07%.
Dutch Oikocredit Lends USD 2 Million to Cambodian Microfinance Institution PRASAC
Another story coming to us courtesy of the MCM newsletter: PRASAC, a microfinance institution (MFI) based in Cambodia recently received a USD 2 million, 5-year loan from microfinance investment fund Oikocredit.
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Uganda Microfinance Limited Receives USD 1.1mn loan from Oikocredit
News coming to us courtesy the MCM newsletter, Uganda Microfinance Ltd has received a UGX 2bn (about USD 1.1 mn) loan from Oikocredit. In October, Uganda Microfinance had been the recipient of a USD 240,000 credit line from Incofin.
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Dutch Oikocredit Lends to the Cooperativa de Desarrollo Comunal IndÌÐgena of Ecuador, Enlace of El Salvador, Fundeser of Nicaragua, and the Cooperativa de Servicios M̼ltiples 20 de Abril of Nicaragua
More news coming to us courtesy of this edition of the CGAP-MIX MCM Newsletter, Oikocredit has written the Cooperativa de Desarrollo Comunal IndÌÐgena of Ecuador a 4-year $300,000 loan, Enlace of El Salvador a 5-year $400,000 loan, Fundeser of Nicaragua a 5-year $600,000 loan, and the Cooperativa de Servicios M̼ltiples 20 de Abril of Nicaragua a $500,000 loan.
Bosnian Microfinance Institution Mikronfin Receives USD 2.85 Million Loan from Dutch Oikocredit
The CGAP-MCM Newsletter reported recently that Dutch Oikocredit signed a 2-year USD2.85 million loan agreement with Bosnian microfinance institution (MFI) Mikrofin. Oikocredit has previously lent to other Bosnian MFIs such as PRIZMA.
Oikocredit grants 6yr USD 654,600 Loan to Indian Microfinance Organization Pragathi Mutually Aided Cooperative Credit and Marketing Federation Ltd
News coming to us courtesy of the CGAP-MIX MCM Newsletter, Pragathi Mutually Aided Cooperative Credit and Marketing Federation Ltd, a India based Non Governmental Organization received a 6yr USD 654,600 loan from Oikocredit.
Oikocredit Grants 6 Year USD 436,400 Loan to Indian Microfinance NGO Adarsha Welfare Society
News coming to us courtesy of the CGAP-MIX MCM Newsletter, Adarsha Welfare Society, an Indian Non Governmental Organization received a 6yr USD436,400 loan from Oikocredit.
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Oikocredit Lends $1.9 Million to Bosnian Microfinance Institution PRIZMA
Oikocredit made a three-year, $1.9 million loan to Bosnia-based PRIZMA. PRIZMA was established in 1997, following a long conflict with Serbia. The microfinance institution provides loans averaging $707 to 15,805 clients, according to MIX Markets’ 2005 data. In addition, it had assets of $11.5 million and a loan portfolio totaling $11.2 million, with a debt to equity ratio of 96% and return on assets of 2.7%.
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Indian Microfinance InstitutionåöESAF receives USD 1 million loan from Oikocredit
News coming to us courtesy of the CGAP-MIX MCM Newsletter, Evangelical Social Action Forum (ESAF), a Christian NGO with 81-90% percent of its operations in microfinance, was granted a 6 year, USD 1 million loan by Oikocredit.
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Mali Microfinance Institution Soro Yiriwaso Loaned $581,400 from Oikocredit
News coming to us courtesy of the CGAP-MIX MCM October Newsletter, Mali’s Soro Yiriwaso was extended a three-year, $580,000 loan from Oikocredit. Soro Yiriwaso was established in 2000 as a microfinance institution to provide women in Sikasso province with credit. According to year end 2005 Microfinance Information eXchange (MIX) data, its 18,574 borrowers make up a total loan portfolio of $1.3 million. In addition, it has assets worth $1.6 million, return on assets of -17.5% and debt to equity ratio of 54.5%. Soro Yiriwaso’s primary funders are Save the Children (a charity with $396 million 2005 revenue) and APIM-Mali (Association Professionnelle des Institutions de la Microfinance au Mali), a Mali nongovernmental organization.
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Banco Opportunidade de Mozambique Sells Shares Worth $274,000 in Microfinance Investment Deal with Oikocredit
Banco Oportunidade de Mozambique (BOM) was founded in 2004, part of the Opportunity International Network. As of year end 2005, the bank’s outreach extended to 2,611 active borrowers. No other information on its financial performance is currently available.
Oikocredit Microfinance Investment in Samoa: $256,100 to South Pacific Business Development
The South Pacific Business Development (SPBD) is a non-profit organization founded in 2000 in Samoa. Year end total assets were $750,286 with a reported return of -9.10%. The gross loan portfolio totaled $506,012 and was composed of 2,331 active borrowers. Since inception, SPBD has issued 11,176 loans, totaling $3.5 million. SPBD is an affiliate of the Grameen Bank worldwide microfinance network based in Bangladesh and is partially funded by Grameen Trust, a US-based non-profit.
Oikocredit Grants Loan of $1.04 million in Microfinance Investment Deal with Phillipines’ ASKI
ASKI (Alalay Sa Kaunlaran Sa Gitnang Luzon, Inc.), a non-profit organization founded in 1987 in the Philippines recently received a loan valued at 55 million Phillipine pesos (PHP) from Oikocredit. The loan is repayable in 5 years and equivalent to about US$1.04 million.
Thanks to a Series of Microfinance Investments from Oikocredit, Triodos-Doen & Hivos-Triodos, Dignity Fund and Microvest, Kazakhstan Loan Fund Receives $4.38 Million
The Kazakhstan Loan Fund (KLF), an NGO working to provide financing to small-scale entrepreneurs throughout Kazakhstan, recently received a series of loans from a number of Microfinance Investment funds. Founded in 1997, KLF had 16,436 active borrowers at the end of 2005, with a gross loan portfolio of $11.2 million out of $14.4 million in total assets. Return on assets was 8.98%. Total Equity was reported at $5.02 million, with a debt to equity ratio of 186.73%.