The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported Swiss Microfinanz-Fonds issued a loan of USD 1 million to Microenterprise Development Fund Kamurj and a loan of USD 2.5 million to microfinance institution (MFI) Azerdemiryolbank of Azerbaijan.
Microenterprise Development Fund Kamurj, founded in 1998, is based in Armenia. Kamurj provides accessible long-term financial and non-financial services to low-income families to improve their well-being. According to its 2006 year end financial data on MIX, the institution had total assets of equivalent USD 6.5 million and a total loan portfolio of equivalent USD 5.4 million. The institution’s return on assets was 21.04 percent and its return on equity was 23.50 percent. At the end of 2006, outreach data revealed Kamurj supported 9,913 active borrowers with an average loan balance of equivalent USD 552.
Azerdemiryolbank is a bank in Azerbaijan founded in 1989. Azerdemiryolbank fosters the development of start-ups and privately owned enterprises by offering them a range of financial services. According to its MIX profile, at the end of 2006 Azerdemiryolbank had over 12,000 active borrowers and over 5,000 savers. The institution had equivalent USD 101.2 million in assets and a total loan portfolio of equivalent USD 67.6 million. Its 2006 year end return on assets was 3.36 percent and its return on equity was 17.89 percent.
The Microfinanz-Fonds fund is managed by responsAbility Social Investment Services Ltd., a Swiss investment firm founded in 2003 that specializes in microfinance investments. The fund’s portfolio is financed by its shareholders, Bank im Bistum Essen, a German cooperative financial institution, and Stadtsparkasse Düsseldorf, a German bank. At its creation in August 2007, the Microfinanz-Fonds fund had total capital of USD 27 million. More current financial data was not available.
Additional Resources:
CGAP: “List of Recent Transactions”
MicroCapital.org article, October 18, 2007: “MICROCAPITAL STORY: Swiss responsAbility Microfinanz-Fonds Loans over $953k to Latin America Microfinance Institutions Fundación CAMPO and COOPROGRESO“
MicroCapital.org article, August 29, 2007: “MICROCAPITAL STORY: Swiss ResponsAbility Microfinanz-Fonds Begins Microfinance Investing and Loans USD 500,000 and USD 344,456 Respectively to PRESTANIC in Latin America and Al Karama in Middle East”
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