Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution providing group loans to women in Indonesia, recently borrowed USD 15 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Netherlands-based development finance institution. This is the third loan FMO has provided to MBK, which has grown from serving approximately 200,000 people with a loan portfolio of USD 23 million as of 2011 to serving 900,000 people with a portfolio of USD 136 million as of 2017. MBK’s loans to borrowers average USD 200 per client.
MBK, whose name translates to “Family Business Partners,” is licensed as a not-for-profit, non-bank finance company and is regulated by the Indonesian Financial Services Authority.
Founded in 1970, FMO is 51-percent owned by the Dutch government. Its other stakeholders are commercial banks, trade unions, employers’ associations and individual investors. FMO supports governments and invests in financial institutions, energy firms and agribusiness operators in developing countries through loans, guarantees and other investment promotion activities. As of 2016, FMO reported total assets of EUR 8.6 billion (USD 9.3 billion).
By Phoebe Rorke, Research Associate
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