Another story coming to us courtesy of the CGAP-MIX Capital Markets Update newsletter. Hivos-Triodos Fund invested USD 300,000 in Fundación José Nieborowski, based in Nicaragua. The investment by Hivos-Triodos Fund hopes to encurage growth in the foundation by providing the means for new loans. Fundación José Nieborowski is a non-regulated financial institution, created in Boaco, a town in the interior of Nicaragua. The organisation is specifically active in cattle breeding areas of Nicaragua. Fundación José Nieborowski goal is to alleviate poverty by providing services for small entrepreneurs of both rural and urban sectors. According to the MIX Market, as of December 31^st 2005, Fundación José Nieborowski had a gross loan portfolio of USD 15,590,101 total assets of 17,669,008, a return on assets of 4.21% and a debt to equity ratio of 338.75%. Micro-Rate, a rating agency of microfinance, has given Fundación José Nieborowski a rating of B + for 2004.

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