MICROCAPITAL BRIEF: Oikocredit Loans $1.37m to Seven Microfinance Institutions in Bulgaria, Asia and Africa

Oikocredit, a microfinance investment fund in the Netherlands with assets of USD 665 million, recently loaned USD 1.37 million to seven microfinance institutions (MFI) in Bulgaria, Tajikistan, Benin, the Philippines and Ghana.

General Toshevo, a Bulgarian MFI with USD 963,000 in total assets, a return on assets (ROA) of 3.61 percent and a return on equity (ROE) of 4.5 percent as of 2008, received EUR 50,000 (USD 62,000). Stopanin, a Bulgarian MFI with total assets of 420,000, an ROA of 1.2 percent and an ROE of 3.4 percent as of 2008, received EUR 80,000 (USD 99,000).

Oikocredit loaned TJS 2.4 million (USD 550,000) to OXUS, an MFI in Tajikistan with total assets of USD 8.1 million, an ROA of 4.1 percent, an ROE of 22.5 percent and 8,840 active borrowers as of 2008.

ALIDé, an MFI in Benin with USD 3.1 million in total assets, an ROA of -7.86 percent, an ROE of -23.7 and 12,379 borrowers as of 2009, received XOF 75 million (USD 141,000).

Paglaum Multi-purpose Cooperative (PMPC), an MFI in the Philippines with PHP 173.8 million (USD 3.8 million) in total assets and 25,833 clients as of 2008, received PHP 5.5 million (USD 121,000). Gata Daku Multi-purpose Cooperative (GDMPC) of the Philippines received PHP 15 million (USD 330,000). Financial data on GDMPC is unavailable.

Nsoatreman Rural Bank of Ghana received GHS 100,000 (USD 70,000). Financial data on Nsoatreman 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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