The responsAbility Global Microfinance Fund, headquartered in Switzerland and founded in 2003, has executed debt investments totaling the equivalent of USD 2.76 million to three microfinance banks, according to a report submitted by responsAbility to MicroCapital. The microfinance investment vehicle (MIV) reports total assets of USD 358 million as of 2009 and is one of four funds operated by responsAbility, the others being responsAbility Base of the Pyramid, responsAbility Mikrofinanz-Fonds and responsAbility Microfinance Leaders Fund.
The largest amount, COP 2.87 billion (USD 1.47 million) in local currency, was dispersed to Coomuldesa, a Columbian microfinance bank founded in 1962. Coomuldesa has total assets of COP 136 billion (USD 67 million). Coomuldesa does not report to MIX Market, the microfinance information clearinghouse.
Crezcamos Colombia received COP 1.91 billion (USD 981,000) in local currency. Crezcamos Colombia, founded in 2008, reports total assets as of 2009 of USD 8.29 million, a gross loan portfolio of USD 6.29 million and return on assets of 0.02 percent [1].
Finally, Nueva Vision received PEN 848,000 (USD 299,000) in a local currency investment. The MFI was formed in Peru in 1998. In December 2005, MicroRate assigned Nueva Vision a ‘B’ rating, compared to a ‘C’ rating by Equilibrium in June 2006. Nueva Vision does not report to MIX Market, the microfinance information clearinghouse.
By Matthew Castner, Research Assistant
About responsAbility Global Microfinance Fund:
The responsAbility Global Microfinance Fund (rAGMF) invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. Its annual LuxFLAG label was renewed as of April 2010.
About Coomuldesa:
Coomuldesa was founded in Columbia in 1962 to support farmers and small businesses. Coomuldesa has total assets of COP 136 billion (USD 67 million). Coomuldesa does not report to MIX Market, the microfinance information clearinghouse.
About Crezcamos Colombia:
Crezcamos Colombia started as a pilot program run by FUNDACOOP (Fundacion Cooprefesores) in Aguachica in 2006. Crezcamos Colombia became an independent microfinance institution in 2008 focusing on rural areas of Columbia. Since that time, the organization has diversified to provide loans to urban clients as well. The MFI reports total assets of USD 8.29 million, a gross loan portfolio of USD 6.29 million and return on assets of 0.02 percent.
About Nueva Vision:
Nueva Vision is a Peruvian microfinance bank formed in 1998. In December 2005, MicroRate assigned Nueva Vision a ‘B’ rating, compared to a ‘C’ rating by Equilibrium in June 2006. Nueva Vision does not report to MIX Market, the microfinance information clearinghouse.
Additional Resources:
[1] Crezcamos: “Perfil Institucional e Historia de Crezcamos S.A.” http://www.crezcamos.com/historia.php
[2] MicroCapital: “The ResponsAbility Global Microfinance Fund Distributes Loans to Various Microfinance Institutes in Latin America,” by Lori Chang, November 3, 2006, http://microcapitalmonitor.com/cblog/index.php?/archives/457-The-ResponsAbility-Global-Microfinance-Fund-Distributes-Loans-to-Various-Microfinance-Institutions-in-Latin-America.html
MicroCapital’s Microfinance Universe profile: responsAbility Global Microfinance Fund: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital’s Microfinance Universe profile: Coomuldesa: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Coomuldesa
MicroCapital’s Microfinance Universe profile: Crezcamos Colombia: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Crezcamos+Colombia
MicroCapital’s Microfinance Universe profile: Nueva Vision: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Nueva+Vision
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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