The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently loaned USD 500,000 to Tuba Rai Metin (TRM), a microfinance institution that serves women and small businesses in Timor-Leste. This convertible loan will help TRM to transform from a nonprofit organization into a regulated financial institution, as well as increase access to financial services for Timorese and support micro-, small and medium-sized businesses [1]. Further information on this loan, which is the first of its kind made in Timor-Leste by IFC, is not available.
At the end of the first quarter of fiscal year 2012, TRM reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 2.8 million, a gross loan portfolio of USD 1.9 million and approximately 7,000 clients. At fiscal year-end 2012, IFC reported 184 member countries, total assets of USD 76 billion and return on equity of approximately 5 percent.
By Megan McGowan, Research Associate
About Tuba Rai Metin (TRM):
Tuba Rai Metin (TRM) of Timor-Leste is a nonprofit microfinance institution that aims to provide “microfinance and allied services for a large number of poor in a sustainable and regulated manner to improve the quality of lives of families and empower women.” At the end of the first quarter of fiscal year 2012, TRM reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 2.8 million, a gross loan portfolio of USD 1.9 million and approximately 7,000 clients.
About International Finance Corporation (IFC):
A member of the US-based World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. At fiscal year-end 2012, IFC reported 184 member countries, total assets of USD 76 billion and return on equity of approximately 5 percent.
Sources and Additional Resources:
[1] International Finance Corporation Press Release, “IFC Makes First-Ever Investment in Timor-Leste, Helps Women in Business”, September 11, 2013, http://ifcext.ifc.org/ifcext/pressroom/IFCPressRoom.nsf/0/189E38908F262A3185257BE30018DC77
MicroCapital.org Article, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $28m in Trustco of Namibia for Higher Education, Insurance in Africa,” August 30, 2012, https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-to-invest-28m-in-trustco-of-namibia-for-higher-education-insurance-in-africa/
MicroCapital.org Article, MICROCAPITAL BRIEF: “National Insurance Timor-Leste (NITL), Tuba Rei Metin, Moris Rasik Introduce Life Microinsurance Products”, May 14, 2012, https://www.microcapital.org/microcapital-brief-national-insurance-timor-leste-nitl-tuba-rei-metin-moris-rasik-introduce-life-microinsurance-products/
MicroCapital Universe: International Finance Corporation: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
MicroCapital Universe: Tuba Rai Metin: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tuba+Rai+Metin
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