The Netherlands Development Finance Company (FMO in Dutch), a public-private partnership, has signed an agreement to loan the equivalent of USD 10 million to Vision Banco, a microfinance institution (MFI) in Paraguay [1]. The four-year loan will be used to finance micro- and small enterprises in Paraguay. Half of the USD 10 million will be provided in local currency, and half will be provided in USD.
As of September 2011, Vision Banco reported USD 652 million in total assets, a gross loan portfolio of USD 457 million, return on assets of 2.02 percent and return on equity of 25.2 percent. As of December 31, 2010, FMO reports total assets of EUR 4.3 billion (USD 5.5 billion), including investments in Africa, Asia, Eastern Europe and Latin America.
By Nisha Koul, Research Associate
About Vision Banco: Founded in 1992, Vision Banco is a microfinance institution (MFI) based in Asunción, Paraguay. It aims to contribute to economic development, job creation and poverty alleviation. As of September 2011, Vision Banco reported USD 652 million in total assets, a gross loan portfolio of USD 457 million, return on assets of 2.02 percent and return on equity of 25.2 percent.
About the Netherlands Development Finance Company (FMO): The Netherlands Development Finance Company (FMO in Dutch) is a Dutch public-private partnership that aims to promote growth in the economies of developing countries by promoting entrepreneurship. Founded in 1970, FMO reports total assets of EUR 4.3 billion (USD 5.5 billion), including investments in Africa, Asia, Eastern Europe and Latin America, as of December 31, 2010.
Sources and Additional Resources:
[1] Press release submitted to MicroCapital, January 2012.
MicroCapital.org story, December 14, 2011, “MICROCAPITAL BRIEF: Incofin Lends $6m to Microfinance Institutions Vision Banco of Paraguay, Lazika Capital of Georgia, Credit Mongol of Mongolia, Forus Bank of Russia,” https://www.microcapital.org/microcapital-brief-incofin-lends-6m-to-microfinance-institutions-vision-banco-of-paraguay-lazika-capital-of-georgia-credit-mongol-of-mongolia-forus-bank-of-russia/
MicroCapital.org story, April 15, 2011, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $30m to Banco Regional of Paraguay to Improve Access to Financial Services for Small and Medium-Sized Enterprises (SMEs),” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-loans-30m-to-banco-regional-of-paraguay-to-improve-access-to-financial-services-for-small-and-medium-sized-enterprises-smes/MicroCapital Universe Profile:
MicroCapital Universe Profile: Vision Banco, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Vision+Banco
MicroCapital Universe Profile: Netherlands Development Finance Company (FMO), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Netherlands+Development+Finance+Company+%28FMO%29#Description
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