In 2010, Triodos Bank reported total assets of EUR 3.4 million (USD 4.4 million). In the same year, FMO disbursed approximately EUR 2.5 million (USD 3.3 million) in loans.

About Triodos
Based in the Netherlands, Triodos Investment Management manages several funds that provide risk capital including Triodos Venture Capital Fund BV and Triodos Ventures BV. The firm invests in financial sector development in developing countries, renewable energy finance and venture capital. Triodos also manages four microfinance investment funds: the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and Triodos Microfinance Fund. As of December 31, 2010, Triodos’ four microfinance funds had USD 338 million in assets under management.

About Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV
The Netherlands Development Finance Company (FMO) is a public-private development bank which supports financial institutions and countries through “loans, participations, guarantees and other investment promotion activities.” It was founded in 1970 by the “Dutch government, private sector, employers and employee organizations.” It has access to government funds and therefore can take higher risks with their investments including long-term finance. It also specializes in local-currency finance. In 2010, FMO distributed approximately EUR 2.5 million (USD 3.3 million) in loans.

By Charlotte Newman, Research Associate

Sources and Additional Resources:

Information sent to MicroCapital from Triodos Bank, “Press Release: FMO and Triodos Bank Launch Upsides.com”

Triodos Bank: Annual Report 2010: http://report.triodos.co.uk/en/2010/financials/consolidatedfinancialstatements/balancesheet.html?cat=m

MicroCapital.org story, October 15, 2011, “MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) Advans Ghana, KixiCrédito of Angola, TYM Fund of Vietnam, Belarusian Bank for Small Business,” http://www.microcapital.org/microcapital-brief-triodos-invests-in-microfinance-institutions-mfis-advans-ghana-kixicredito-of-angola-tym-fund-of-vietnam-belarusian-bank-for-small-business/

MicroCapital Universe Profile: Triodos Investment Management
http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triodos+Investment+Management

MicroCapital Universe Profile: Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV
http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Nederlandse+Financierings-Maatschappijvoor+Ontwikkelingslanden+N.V.+%28Netherlands+Development+Finance+Company%2C+FMO%29

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

By Ariana Malushi, Research Associate

Sources and Additional Resources

[1] Information submitted to MicroCapital by Convergences 2015, January 2012

MicroCapital.org Article, January 26, 2012, “MICROCAPITAL BRIEF: Microfinance CEO Working Group Issues Road Map for Microfinance Industry Promoting Smart Campaign, Microfinance Transparency, Social Performance Task Force,” http://www.microcapital.org/microcapital-brief-microfinance-ceo-working-…

MicroCapital.org Article, “MICROCAPITAL EVENT: Fourth Annual Convergences 2015 – Working Towards the Millennium Development Goals, Paris, France, May 3-5, 2011,” http://www.microcapital.org/microcapital-event-fourth-annual-convergences-2015-–-working-towards-the-millennium-development-goals-paris-france-may-3-5-2011/

MicroCapital.org Article, “MICROFINANCE EVENT: Convergences 2015, Conference to Design Road Map for Microfinance In Next Decade, May 25 to May 26, 2010, Paris, France,” http://www.microcapital.org/microfinance-event-convergences-2015-confere…

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

While existing investors including Lok Capital, India Financial Inclusion Fund, Sequoia Capital, Mauritius Unitus Corporation and Elevar Equity have participated in this round of funding, the majority of the new funds came from two institutions that are investing in Ujjivan for the first time: INR 326 million (USD 6.37 million) from the Netherlands Development Finance Company (FMO in Dutch) and INR 400 million (USD 7.82 million) from Wolfensohn Capital Partners (WCP) Mauritius Holdings III. FMO, a public-private development bank, supports financial institutions and countries through “loans, participations, guarantees and other investment promotion activities.” WCP Maurituis Holdings III is an affiliate of Wolfensohn Capital Partners, a US-based private investment fund that specializes in growth equity investments in emerging markets.

Sanjiv Kapur, managing director of Wolfensohn India Advisors, said, “This is the first investment for Wolfensohn in the Indian microfinance sector, endorsing our faith in the sector and in Ujjivan’s financial inclusion model.”

Mohit Bhatnagar, managing director of Sequoia Capital, Ujjivan’s largest stakeholder, said, “India continues to be a preferred investment destination for [foreign institutional investors,] and it is heartening to see that fundamentally strong organisations in the microfinance sector are a key focus.”

As of September 30, 2011, Ujjivan reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 129 million, a gross loan portfolio of USD 121 million, return on assets (ROA) of -1.86 percent and 744,000 active borrowers.

By Kristha Abores, Research Associate

About Ujjivan Financial Services:

Ujjivan Financial Services is a microfinance institution (MFI) based in Bangalore, India, that offers loans and insurance products. It was founded in 2004 and focuses on low-income women in urban and semi-urban areas. Its products include business loans, educational loans, emergency loans and life insurance. As of September 30, 2011, Ujjivan reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 129 million, a gross loan portfolio of USD 121 million, return on assets (ROA) of -1.86 percent and 744,000 active borrowers.

About Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden N.V. (Netherlands Development Finance Company, FMO):

The Netherlands Development Finance Company (FMO in Dutch) is a public-private development bank which supports financial institutions and countries through “loans, participations, guarantees and other investment promotion activities.” It was founded in 1970 by the “Dutch government, private sector, employers and employee organizations.” It has access to government funds and therefore can take higher risks with its investments including long-term finance. It also specializes in local-currency finance. In 2010, FMO distributed approximately EUR 2.5 million (USD 3.3 million) in loans.

About Wolfensohn Capital Partners:

Wolfensohn Capital Partners is a New York-based private investment fund that specializes in growth equity investments in emerging markets. Founded in 2005 by James D Wolfensohn, who served as president of the World Bank from 1995 to 2005, it seeks to provide financial returns to its clients while supporting sustainability and poverty alleviation. Financial information on the organization is not available.

Sources and Additional Resources:

[1] “Ujjivan raises Rs.127.9 Crores (USD 25.5 Mn.) equity ,” http://www.ujjivan.com/news_ujjivan_raises_127_crores_equity.htm

MicroCapital.org article, September 16, 2011, “MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Ujjivan Looking to Raise $138m from Private, Public Sector Banks,” http://www.microcapital.org/microcapital-brief-indian-microfinance-institution-mfi-ujjivan-looking-to-raise-138m-from-private-public-sector-banks/

MicroCapital.org article, January 10, 2011, “MICROCAPITAL BRIEF: Ujjivan Financial Services Raises $8.8m of Debt Capital Through Non-Convertible Debenture (NCD) Issuance to Developing World Market’s Member Company DWM (Cyprus) Limited,” http://www.microcapital.org/microcapital-brief-ujjivan-financial-service…

MicroCapital Universe Profile: Ujjivan Financial Services, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ujj…

MicroCapital Universe Profile: Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden N.V. (Netherlands Development Finance Company, FMO), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Nederlandse+Financierings-Maatschappijvoor+Ontwikkelingslanden+N.V.+%28Netherlands+Development+Finance+Company%2C+FMO%29…

MicroCapital Universe Profile: Wolfensohn Capital Partners (WCP), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Wolfensohn+Capital+Partners

MicroCapital Universe Profile: Lok Capital LLC, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Lok+Capital+LLC…

MicroCapital Universe Profile: The India Financial Inclusion Fund (IFIF), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=India+Financial+Inclusion+Fund+%28IFIF%29…

MicroCapital Universe Profile: Sequoia Capital, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Seq…

MicroCapital Universe Profile: Unitus Equity Fund I, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Uni…

MicroCapital Universe Profile: Elevar Equity Advisors, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ele…

MicroCapital Universe Profile: Reserve Bank of India, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Reserve+Bank+of+India+%28RBI%29…

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/

As reported in a MicroCapital story in January, Kiva has recently piloted a peer-to-peer platform called Kiva Zip in Kenya and the US city of San Francisco. In 2011, approximately USD 90 million in loans were made via Kiva and its 146 partner microfinance institutions (MFIs) to borrowers in 60 countries. As of June 2010, United Prosperity reports working with 850 families that have received total loans worth USD 165,000. Zidisha reports that it has facilitated approximately USD 50,000 in loans from 250 lenders to 80 low-income entrepreneurs in Kenya and Senegal as of 2011.

By Nisha Koul, Research Associate

About Kiva: Incorporated in 2005, Kiva is a US-based online portal allowing individuals to make loans to microfinance institutions (MFIs), which then make loans to people with low incomes. As of September 2011, Kiva reports that: it has engaged 990,000 users, 625,000 of whom have funded a loan; 81 percent of loans have been made to women entrepreneurs; the repayment rate on these loans is 98.9 percent; and the average loan size is USD 385. In 2011, approximately USD 90 million in loans was funded through Kiva and Kiva’s field partner MFIs to microentrepreneurs in 60 developing and rich countries.

About United Prosperity: Launched in May 2009 in the US as an NGO, United Prosperity aims to help entrepreneurs and “transform the lives of their families and communities.” It uses a variation of the microlending model of crowdfunding wherein the money contributed by lenders is used as collateral or a loan guarantee with a local bank which then lends double the amount to the microentrepreneur through a local microfinance institution (MFI). United Prosperity claims that this helps the microentrepreneur build a strong relationship and credit history with the MFI and the local banking system. As of June 2010, United Prosperity reports working with 850 families that have received total loans worth USD 165,000.

About Zidisha: Zidisha is a nonprofit organization that was launched in 2009 in the US by Julia Kurney, a founding partner of Senegal Ecovillage Microfinance (SEM). Zidisha intermediates loans from individuals to entrepreneurs with credit histories in Senegal and Kenya. Lenders are able to browse listings written by the entrepreneurs themselves and then bid on interest rates with the entrepreneur able to select the lowest offered rate. As of 2011, Zidisha has facilitated approximately USD 50,000 in loans from 250 lenders to 80 low-income entrepreneurs in Kenya and Senegal. As of 2011, Zidisha reports a 100 percent repayment rate.

Sources and Additional Resources:

[1] Social Media Week, “Crowdfunding Platforms: To Each Their Own,” http://socialmediaweek.org/blog/2012/01/02/crowdfunding-platforms-to-each-their-own/

MicroCapital.org story, January 26, 2012, “MICROCAPITAL BRIEF: Kiva Piloting Peer-to-Peer Microfinance Lending Platform Kiva Zip in Kenya, San Francisco,” http://www.microcapital.org/microcapital-brief-kiva-piloting-peer-to-peer-microfinance-lending-platform-kiva-zip-in-kenya-san-francisco/

MicroCapital.org story, January 22, 2012, “MICROFINANCE OPINION: Crowdfunding May Be Next Frontier for Microenterpirse Funding,” http://www.microcapital.org/microfinance-opinion-crowdfunding-may-be-next-frontier-for-microenterpirse-funding/

MicroCapital.org story, September 8, 2011, “MICROCAPITAL BRIEF: Microfinance Institutions (MFIs) in India Attempt to Raise Funds Using “Crowd Sourcing,” http://www.microcapital.org/microcapital-brief-microfinance-institutions-mfis-in-india-attempt-to-raise-funds-using-%E2%80%9Ccrowd-sourcing%E2%80%9D/

MicroCapital.org story, May 5, 2011, “MICROCAPITAL BRIEF: 17 Websites Now Allow Individuals to Commit as Little as USD 20 as Microfinance Loans,” http://www.microcapital.org/microcapital-brief-17-websites-now-allow-individuals-to-commit-as-little-as-usd-20-as-microfinance-loans/

MicroCapital Universe Profile: Kiva, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kiva

MicroCapital Universe Profile: United Prosperity, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=United+Prosperity

MicroCapital Universe Profile: Zidisha, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Zidisha.org

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

TPC was launched in 1994 in Cambodia as part of the Small Enterprise Development program of US-based nonprofit organization Catholic Relief Services (CRS). In 2002, the initiative was incorporated as a limited liability company and given the name Thaneakea Phum (Cambodia) Limited. In 2003, TPC received its license from the National Bank of Cambodia to operate officially as a microfinance institution. As of December 2010, TPC reported to US-based data provider Microfinance Information Exchange (MIX) return on assets (ROA) of 2.78 percent and return on equity (ROE) of 14.7 percent. As of September 30, 2011, it reported to MIX a gross loan portfolio of USD 29.2 million and 91,033 active borrowers.

By Kristha Abores, Research Associate

About United States Agency for International Development (USAID): The United States Agency for International Development (USAID) is a government agency that provides international economic and humanitarian assistance. It focuses on areas such as economic growth, agriculture, trade, health, democracy, conflict prevention and humanitarian assistance. Under the Development Credit Authority (DCA), it provides credit guarantees that cover up to 50 percent of defaults on wholesale loans made by private financial institutions to institutions that lend on a retail basis to underserved borrowers. USAID had a total of USD 23.8 billion in budgetary resources in 2011.

About Thaneakea Phum (Cambodia) Limited (TPC): TPC was launched in 1994 in Cambodia as part of the Small Enterprise Development program of US-based nonprofit organization Catholic Relief Services (CRS). In 2002, the initiative was incorporated as a limited liability company and given the name Thaneakea Phum (Cambodia) Limited. In 2003, TPC received its license from the National Bank of Cambodia to operate as an official microfinance institution. As of September 30, 2011, it reported to US-based data provider Microfinance Information Exchange (MIX) a gross loan portfolio of USD 29.2 million and 91,033 active borrowers. As of December 2010, it reported to MIX return on assets (ROA) of 2.78 percent and return on equity (ROE) of 14.7 percent.

Sources and Additional Resources:

[1] The Phnom Penh Post: “USAID injects cash in MFI,” http://www.phnompenhpost.com/index.php/2012013054210/Business/usaid-inje…

MicroCapital.org article, January 3, 2011, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Makes $1.8m Local-Currency Loan to Koperasi Mitra Dhuafa (Komida) of Indonesia and Thaneakea Phum Cambodia (TPC), Chamroeun Microfinance of Cambodia,”http://www.microcapital.org/microcapital-brief-grameen-credit-agricole-m…

MicroCapital.org article, June 27, 2011, “MICROCAPITAL BRIEF: USAID, VEGA/IESC Announce Second Phase of “Lebanon Investment in Microfinance” Program,” http://www.microcapital.org/microcapital-brief-usaid-vegaiesc-announce-s…

MicroCapital Universe Profile: United States Agency for International Development (USAID), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Uni…

MicroCapital Universe Profile: Thaneakea Phum (Cambodia) Limited (TPC), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tha…

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/

Ms Walker is the deputy director of the “Urban Development Special Initiative” of the Bill and Melinda Gates Foundation that is supporting efforts to identify sustainable approaches to metafinance. Acknowledging that metafinance cannot substitute for needed city-wide investments, she believes that metafinance, just like microfinance once did, “will likely need strong support from philanthropic organizations as it establishes itself as a mainstream and financially sustainable service.”

By Nisha Koul, Research Associate

About Bill and Melinda Gates Foundation: Based in the US, the Bill and Melinda Gates Foundation provides grants to organizations in approximately 100 countries with the aim of enhancing health care, reducing poverty and expanding access to education and information technology. The Bill and Melinda Gates Foundation’s Financial Services for the Poor initiative focuses on providing people with secure places to save money. To support this initiative, the foundation works with financial organizations to increase access to technology (point-of-sales devices, automated teller machines, etc.) and to forge partnerships among mobile phone companies, banks and microfinance institutions. It also supports the startup and growth of new banks in “difficult markets”. As of June 30, 2011, the Bill and Melinda Gates Foundation reported an asset trust endowment of USD 36.3 billion. In 2010, the Foundation awarded USD 2.6 billion in grants.

Sources and Additional Resources:

[1] “Towards Metafinance Slum Dwellers around the World Need Financing Options beyond What Microfinance and Traditional Banking Can Offer: Metafinance Shows the Way Forward By Melanie Walker and Franck Daphnis,” http://www.metafinance.org/

[2] Huffington Post, “From Microfinance to Metafinance: A New Tool to Fight Global Poverty,” http://www.huffingtonpost.com/melanie-walker/metafinance_b_1223712.html

MicroCapital.org story, September 19, 2011, “MICROCAPITAL BRIEF: Housing Microfinance Not a Viable Solution for Slums, Opines Ruban Selvanayagam,” http://www.microcapital.org/microcapital-brief-housing-microfinance-not-a-viable-solution-for-slums-opines-ruban-selvanayagam/

MicroCapital Universe Profile:  Bill and Melinda Gates Foundation, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bill+and+Melinda+Gates+Foundation

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

Mr Jack Lowe co-founded Azure Partners with Mr Vincent Oswald, both of whom were formerly with Geneva-based microfinance investment company Blue Orchard. Mr Lowe argues that “Microfinance has three distinct advantages for the investor: negative correlation with most other asset classes, extremely low volatility and enormous geographic diversification in emerging markets…. This combination of factors has provided historic returns of 4-8 per cent for debt funds and 12-18 per cent for private equity funds. The sector has never experienced a negative yearly performance.”

As of January 2012, the Azure Global Microfinance Fund has made three investments and reports a “pipeline of 10 investable funds” [2]. The amount of funds raised by Azure Global Microfinance Fund has not been made public. The fund received the LuxFLAG Microfinance Label from Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. Company wide, Azure Partners has invested in 74 microfinance funds, 36 fund managers, 10 microfinance networks and 10 development banks as of 2011.

By Nisha Koul, Research Associate

About Azure Partners: Azure Partners is a Swiss company specializing in socially responsible investments. It focuses mainly on microfinance and acts as investment advisor to the Azure Global Microfinance Fund. As of January 2012, the Azure Global Microfinance Fund has made three investments and reports a “pipeline of 10 investable funds.” Company wide, Azure Partners has invested in 74 microfinance funds, 36 fund managers, 10 microfinance networks and 10 development banks as of 2011.

Sources and Additional Resources:

[1] Financial Times, “Microfinance men launch fund of funds,” http://www.ft.com/intl/cms/s/0/cf573ec0-42c3-11e1-93ea-00144feab49a.html#axzz1kUrKPJZS

[2] Azure Partners, “Azure Global Microfinance Fund,” http://www.azure-partners.com/docs/Azure_partners.pdf

MicroCapital.org story, January 18, 2012, “MICROCAPITAL BRIEF: FINCA International Launches For-Profit Subsidiary: FINCA Microfinance Holdings LLC,” http://www.microcapital.org/microcapital-brief-finca-international-launches-for-profit-subsidiary-finca-microfinance-holdings-llc/

MicroCapital.org story, January 10, 2012, “MICROCAPITAL BRIEF: Private Equity Investors Wary As Return on Equity for Indian Microfinance Institutions Drops from Over 45% to Under 20%,” http://www.microcapital.org/microcapital-brief-private-equity-investors-wary-as-return-on-equity-for-indian-microfinance-institutions-drops-from-over-45-to-under-20/

MicroCapital Universe Profile: Azure Partners, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Azure+Partners

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

The target size of SEIIF, which will invest in debt and equity instruments, is USD 100 million after three years. The fund aims to create 100,000 jobs in five years.

By Nisha Koul, Research Associate

About Oxfam International: Oxfam International was established in 1995 as a confederation of 15 organizations working to reduce poverty. Oxfam’s name is derived from its founding member, the Oxford Committee for Famine Relief, which began operating in Britain in 1942 by advocating for food supplies to be sent to women and children in Greece during the Second World War. Oxfam International since has grown into a network of member organizations serving 99 countries with disaster relief, advocacy and policy research with the aim of providing long-term solutions for poverty eradication. As of March 2011, Oxfam International reports GBP 2.8 million (USD 4.4 million) in assets.

About Symbiotics: Founded in 2005, Symbiotics provides for-profit investment intermediary services to the microfinance industry as well as business services to investors and practitioners of micro- and small enterprise (MSE) development. Symbiotics works with approximately twenty investment funds (MIVs) and a dozen institutional investors. It has facilitated the provision of USD 895 million in capital to about half a million micro-, small and medium-sized enterprises (MSMEs) through 150 financial institutions in approximately 35 emerging economies. The company also offers Syminvest, a microfinance investment intelligence platform designed to increase transparency and enhance investment capacity in the industry by monitoring regional markets and specific institutions.

Sources and Additional Resources:

[1] Symbiotics News, “SEIIF – Oxfam and Symbiotics target investment industry with new SME fund,” http://www.symbioticsgroup.com/news/latest-news/seiif-oxfam-and-symbiotics-target-investment-industry-with-new-sme-fund

MicroCapital.org story, December 28, 2010, “MICROCAPITAL BRIEF: Symbiotics Launches Micro-, Small & Medium-Sized Enterprise Bonds Electronic Platform, Closes Two Deals for Mutual Cartago de Ahorro y Prestamo (MUCAP) and Microfinance Institution (MFI) Lanka ORIX MicroCredit (LOMC),” http://www.microcapital.org/microcapital-brief-symbiotics-launches-micro-small-medium-sized-enterprise-bonds-electronic-platform-closes-two-deals-for-mutual-cartago-de-ahorro-y-prestamo-mucap-and-microfinance-institu/

MicroCapital.org story, November 1, 2010, “MICROCAPITAL BRIEF: CARE, Barclay’s, Oxfam, EcoBank, Others Collaborate to Expand Financial Services to Sub-Saharan Africa’s Poor,” http://www.microcapital.org/microcapital-brief-care-barclays-oxfam-ecobank-others-collaborate-to-expand-financial-services-to-sub-saharan-africas-poor/

MicroCapital Universe Profile: Oxfam International, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oxfam+International

MicroCapital Universe Profile: Symbiotics, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Symbiotics+Group

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

The two organizations plan to pilot the program in India before growing to a global scale.

As of 2012, Freedom from Hunger has 26 partner microfinance organizations serving 2 million families.

About Microcredit Summit Campaign
Microcredit Summit Campaign is a project that was launched in 1997 by RESULTS Educational Fund (REF), a nonprofit advocacy group that is based in Washington, DC. The Campaign’s mission is to help 100 million people rise above the international poverty line of USD 1.25 a day by 2015. The campaign also aims to bring financial and business services to 175 million people, especially women, by 2015.

About Freedom from Hunger
Freedom from Hunger is based in Davis in the US state of California. Formerly called “Meals for Millions,” it is an international development NGO that operates in 19 countries with the aim of alleviating hunger and poverty. Its microfinance programs service approximately 2 million families through 26 partner microfinance institutions. At the end of 2011, Freedom from Hunger was working with 150 partners and reaching approximately 3.9 million women plus their families.

By Charlotte Newman, Research Associate

Sources and Additional Resources:

Information sent from the Microcredit Summit Campaign to MicroCapital, January 23, 2012, “Microcredit Summit Campaign and Freedom from Hunger Form Alliance to Benefit 3.7 Million of the World’s Poor Through Combining Microfinance and Health”

MicroCapital.org story, November 18, 2011, “MICROCAPITAL BRIEF: Microcredit Summit Campaign Report: 137 Million People Received Microloans in 2010,” http://www.microcapital.org/microcapital-brief-microcredit-summit-campaign-report-137-million-people-received-microloans-in-2010/

MicroCapital.org story, March 28, 2011, “MICROCAPITAL BRIEF: Freedom from Hunger Staff Co-author ‘Integrating microfinance and health strategies: examining the evidence to inform policy and practice,’” http://www.microcapital.org/microcapital-brief-freedom-from-hunger-staff-co-author-integrating-microfinance-and-health-strategies-examining-the-evidence-to-inform-policy-and-practice/

MicroCapital Universe Profile: Microcredit Summit Campaign http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microcredit+Summit+Campaign

MicroCapital Universe Profile: Freedom from Hunger http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=freedom+from+hunger

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

The LuxFLAG Microfinance Label is granted to MIVs in an effort to “reassure investors that the MIV actually invests, directly or indirectly, in the microfinance sector.” The role of the eligibility committee is to examine applications for the label and recommend to the Board of Directors of LuxFLAG whether or not the label should be awarded to the applicant.

By Nisha Koul, Research Associate

About MicroRate: MicroRate is a microfinance rating agency formally approved by CGAP (Consultative Group to Assist the Poor); the Inter-American Development Bank; and Peru’s Superintendency of Banking, Insurance and Pension Fund Managers (SBS). It was founded in the US in 1997 with the intent of objectively evaluating microfinance institutions (MFIs), thereby increasing transparency and driving additional funding into microfinance. MicroRate has completed approximately 600 ratings of approximately 200 MFIs worldwide as of 2012 and claims to perform its evaluations not through “rigid rating formulas,” but through the “evaluation of critical risk.” A private company, MicroRate is based in Washington, DC, with offices in Peru and Morocco.

About Luxembourg Fund Labeling Agency (LuxFLAG): Established in 2006, the Luxembourg Fund Labeling Agency (LuxFLAG) aims to “promote the raising of capital for Microfinance and Environment related sectors by awarding a recognizable label to eligible microfinance investment vehicles (MIVs) and environment-related investment vehicles (EIVs).” Its objective is to reassure investors that the MIV or EIV actually invests, directly or indirectly, in the microfinance or environment sector. LuxFLAG only certifies MIVs and EIVs that are either subject to European Union member state supervision or located in nations with financial supervision on par with countries in the European Union. As of 2011, 20 MIVs and three EIVs hold current LuxFLAG labels.

Sources and Additional Resources:

[1] Press release submitted to MicroCapital, January 2012.

[2] Email conversation between MicroCapital and LuxFLAG representatives.

MicroCapital.org story, January 13, 2012, “MICROCAPITAL BRIEF: MicroRate, LuxFlag Launch Luminis Looking to Increase Transparency of Microfinance Funds,” http://www.microcapital.org/microcapital-brief-microrate-luxflag-launch-luminis-looking-to-increase-transparency-of-microfinance-funds/

MicroCapital.org story, October 10, 2011, “MICROCAPITAL BRIEF: LuxFLAG Grants Microfinance Label to Microfinance Enhancement Facility, Selectum, Etimos Fund, Dual Return Fund Vision Microfinance Local Currency; Renews Label for Six Other Microfinance Investment Vehicles (MIVs),” http://www.microcapital.org/microcapital-brief-luxflag-grants-microfinance-label-to-microfinance-enhancement-facility-selectum-etimos-fund-dual-return-fund-vision-microfinance-local-currency-renews-label-for-six-other-micro/

MicroCapital.org story, May 18, 2010, “MICROCAPITAL BRIEF: LuxFLAG and MicroRate Announce LUMINIS Microfinance, Internet-Based Microfinance Investment Vehicle Information Service,” http://www.microcapital.org/microcapital-brief-luxflag-and-microrate-announce-luminis-microfinance-internet-based-microfinance-investment-vehicle-information-service/

MicroCapital Universe Profile: MicroRate,
http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MicroRate

MicroCapital Universe Profile: Luxembourg Fund Labeling Agency (LuxFLAG), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=LuxFLAG

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/