Oikocredit, a microfinance investment fund in the Netherlands with assets of USD 665 million, recently loaned INR 145 million (USD 3.14 million) to nine Indian microfinance institutions (MFIs).
Oikocredit loaned INR 10 million (USD 217,000) to the Guidance Society for Labour Orphans & Women (GLOW), which, as of March 2009, had total assets of INR 17.8 million (USD 390,000). Oikocredit loaned INR 30 million (USD 657,000) to the Network of Entrepreneurship and Economic Development (NEED). As of 2009, NEED had 25,000 active borrowers, a return on assets of 2.84 percent, a return on equity of 26.5 percent and total assets of USD 3.7 million. INR 10 million (USD 219,000) was loaned to DISHA, which, as of May 2010, served 8,956 clients and had disbursed a total of INR 1.16 billion (USD 25.5 million) in loans. Hope International, a Christian faith-based MFI with reported total assets of USD 7.5 million in 2009, received INR 5 million (USD 110,000). Oikocredit loaned INR 30 million (USD 657,000) to Asomi Finance Pvt Ltd (AFPL), an MFI with 17,500 active borrowers and a current portfolio of INR 186 million (USD 4 million)
Oikocredit loaned INR 20 million (USD 438,000) to both MSFSL and Mahila Vikasa, and INR 10 million (USD 219,000) to both Partner and SMVP. Financial data on these organizations is unavailable.
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.
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
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