MICROCAPITAL STORY: Oikocredit of the Netherlands Lends $1m to Latin America Microfinance Promoter Pro Mujer

The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported Oikocredit, a co-operative financial development institution in the Netherlands, issued a loan to the Pro Mujer Network.  The network reported that the loan was extended to Pro Mujer Peru in the amount of 3.2 million nuevos soles (USD 1 million).

The Pro Mujer network is a Latin American development organization that facilitates the growth of sustainable microfinance institutions. Founded in Bolivia in 1990, it now also operates in Argentina, Mexico, Nicaragua, and Peru. Pro Mujer’s most recent combined financial statement, published in 2006, revealed assets in excess of USD 25 million and a loan portfolio over USD 19 million. With an estimated client base of over 200,000, Pro Mujer helps thousands of poor, uneducated women to escape poverty by encouraging entrepreneurial pursuits through financial services and training.

Oikocredit, established in 1975, is co-operative financial development institution that provides credit to credit cooperatives, MFIs and other viable enterprises that assist the poor. As of December 2006, Oikocredit had total fund assets of equivalent USD 455.7 million of which USD 198 million was allocated to 306 MFI investments. Oikocredit offers assistance via loans and debt securities, equity investments, guarantees, and technical assistance.

Additional Resources:

CGAP: “List of Recent Transactions”

MIX Market: “Profile for Pro Mujer Network”

MIX Market: “Profile for Oikocredit”

MicroCapital.org article, October 15, 2007: “MICROCAPITAL STORY: Oikocredit of the Netherlands Lends $1.3m to Eastern Europe Microfinance Institution PRIZMA and $2.1m to East Asia Microfinance Institution Cambodian Entrepreneur Building Limited”

MicroCapital.org article, August 14, 2007: MICROCAPITAL STORY: Oikocredit Loans USD 514,028 to Hermandad de Honduras

MicroCapital article, March 29, 2007: “Pro Mujer Bolivia Receives 1 Million in Microfinance Loans from Hivos-Triodos and responsibility Microfinance.”

MicroCapital article, August 15, 2007: “MICROCAPITAL STORY: Global Partnerships Microfinance Fund Lends USD 750,000 to Microfinance Institution (MFI) Pro Mujer Bolivia”

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