Triple Jump, a microfinance fund manager based in the Netherlands and established in 1998, recently reported to MicroCapital that one of the five funds it manages, ASN-Novib Fund, has executed debt investments totaling USD 6.5 million in four microfinance banks [1]. The largest amount, USD 2.5 million, went to Procredit Bank of Macedonia, a Macedonian bank founded in 2003 with a gross loan portfolio of USD 185 million [2]. Procredit Bank of Macedonia’s parent organization, Procredit Holding, has 21 banking institutions worldwide with total assets of EUR 4.9 billion (equivalent to USD 6 billion).
Triple Jump also released USD 2.3 million to The Foundation for International Community Assistance (FINCA) Azerbaijan, a loaning institution based in Azerbaijan with a gross loan portfolio of USD 66.8 million [4]. FINCA Azerbaijan’s parent organization, FINCA International, is a global microfinance network operating in 21 countries with total assets of USD 450 million as of 2008.
Crezcamos, a microfinance institution (MFI) based in Colombia with a gross loan portfolio of USD 2.8 million, will receive USD 1 million [5].
Lastly, the fund has committed USD 750,000 to Fundacion Campo, an MFI based in El Salvador with a gross loan portfolio of USD 6.9 million [6].
ASN-Novib Fund reports total assets of EUR 60 million (equivalent to USD 74 million). The other four funds managed by Triple Jump are Oxfam Novib Fund, SNS Institutional Microfinance Fund (IMF), Calvert and Not One the Same (NOTS) Fund [3].
By Julia Korn, Research Associate
About Triple Jump:
Triple Jump was founded in 1998 to support the expansion of microfinance institutions (MFIs) by providing capital and advisory services. At the start of 2010, Triple Jump managed five microfinance investment funds, worth a total of approximately EUR 170 million (USD 247 million). Its investments span 90 MFIs in 37 emerging markets in Latin America, Eastern Europe, Africa and Asia. Triple Jump was established by the Not One the Same (NOTS) Foundation, a Dutch development organization; Oxfam Novib, a Dutch organization for international cooperation and development; and ASN Bank, a “sustainability-driven” Dutch bank. Its shares are divided among these organizations and Triple Jump’s management team.Triple Jump is comprised of Triple Jump Fund Management (TJFM) and Triple Jump Advisory Services (TJAS). TJFM provides its clients with four investment options: hard and local currency loans, equity, guarantees and subordinated loans. TJAS is an independent foundation that provides consulting services and technical assistance to tier-3 and tier-4 MFIs.
About Procredit Bank of Macedonia:
ProCredit Bank of Macedonia, established in 2003, is a development bank that focuses on lending to micro-, small and medium-sized enterprises. As of 2008 it had a gross loan portfolio of USD 185 million, 33,984 active borrowers, an average loan balance per borrower of USD 5,439, deposits of USD 184 million, total assets of USD 263 million and 129,687 depositors. Its main funding sources are loans, savings and shareholder capital. 51 to 60 percent of its operations are comprised by microfinance. Procredit Bank of Macedonia’s parent organization, Procredit Holding, has 21 banking institutions worldwide with total assets of USD 50.9 million.
About FINCA Azerbaijan:
FINCA Azerbaijan, a microfinance institution (MFI) established in 1998, aims to provide financial services to the world’s lowest-income entrepreneurs so they can create jobs, build assets and improve their standard of living. As of 2008 it had a gross loan portfolio of USD 66.8 million, 83,948 active borrowers, an average loan balance per borrower of USD 796 and total assets of USD 76 million. FINCA Azerbaijan’s parent organization, FINCA International, is a global microfinance network operating in 21 countries with total assets of USD 450 million as of 2008.
About Crezcamos:
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 Colombia. Since that time, the organization has diversified to provide loans to urban clients as well. The microfinance institution (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 Fundacion Campo:
Fundacion Campo, established in 1996, is a microfinance institution (MFI) based in El Salvador. As of 2008 it had a gross loan portfolio of USD 6.9 million, 5,716 active borrowers, an average loan balance per borrower of USD 1,204 and total assets of USD 7.7 million.
About FINCA International:
The Foundation for International Community Assistance (FINCA) International is a global microfinance network serving over 700,000 people through its subsidiaries in 21 countries. As of 2008, it had total assets of USD 450 million, with an operating profit of USD 8.6 million.
About Procredit Holding:
Based in Germany, Procredit Holding consists of 21 banks operating in transition economies and developing countries in Eastern Europe, Latin America and Africa. It provides credit and other banking services to small and medium-sized enterprises and lower and middle income savers who have previously had limited access to formal financial services. As of 2009 it had total assets of EUR 4.9 billion (equivalent to USD 6 billion) and a gross loan portfolio of EUR 3.3 billion (equivalent to USD 4 billion).
Sources and Additional Resources:
[1] Submitted to MicroCapital by Triple Jump
[2] MicroCapital Universe. Procredit Bank of Macedonia. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pro…
[3] Triple Jump. “Investment Funds.” http://www.triplejump.eu/page/Investment+Funds/1933/
[4] MicroCapital Universe. FINCA Azerbaijan. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fin…
[5] MicroCapital Universe: Crezcamos. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Cre…
[6] MicroCapital Universe: Fundacion Campo. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fun…
MicroCapital Universe. Triple Jump. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tri…
MicroCapital Universe: Procredit Bank of Kosovo. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pro…
MicroCapital Universe: FINCA International. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FIN…
MicroCapital Universe. Procredit Holding. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pro…
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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