MICROCAPITAL BRIEF: Oikocredit Invests $6.8m in Local-currency Loans in Three Indian Microfinance Institutions

Oikocredit, a microfinance investment fund in the Netherlands with assets of USD 665 million, recently loaned INR 315 million (USD 6.8 million) to three Indian microfinance institutions (MFIs): Cashpor, SMILE and Grameen FSPL (Grameen Koota).

Cashpor, which had 314,000 borrowers and USD 29.3 million in total assets as of 2008, received INR 100 million (USD 2.2 million). SMILE, which had 130,000 borrowers and total assets of USD 12.5 million as of 2008, received INR 100 million (USD 2.2 million). Grameen FSPL (Grameen Koota), which had 423,000 borrowers and a loan portfolio of USD 65.5 million as of March 2010, received INR 115 million (USD 2.4 million).

By Stefanie Rubin, Research Associate

About Oikocredit:

Oikocredit is a Dutch cooperative investment fund comprised of church groups, social support groups and individual investors. Established in 1975, it works in 70 countries worldwide, investing mainly in microfinance institutions (MFIs), as well as trade cooperatives, fair trade organizations and small and medium-sized enterprises (SMEs) in the developing world. As of year-end 2009 it had USD 665 million in total assets with 790 active investments, of which 543 were in MFIs.

About Grameen Koota

Grameen Koota is a microfinance institution (MFI) based in Bangalore, India, that was founded in 1999. It is a division of Grameen Financial Services Private Limited, and began its operation with funding from Grameen Trust, a non-government organization that supports microfinance globally through funding, training and technical assistance. As of December 12, 2009, Grameen Koota provides credit to low-income households through 117 branches in Karnataka and Maharashtra. It is one of the first MFIs in the world to use Mifos, an open source management information system that aids in monitoring of borrowers and portfolios.

Additional Resources:

Source Article: E-mail correspondence with MicroCapital, June 7, 2010

Microcapital Universe: Oikocredit: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oikocredit

Microcapital Universe: Grameen Koota: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Koota

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

Similar Posts: