MICROCAPITAL STORY: Triodos Bank Invests USD 900,000 in Microfinance Institutions in May

Triodos Bank has reported to the CGAP Microfinance Dealbook investments totaling approximately USD 900,000 this month.  The bank has invested 834,000 in IMON International in Tajikistan through the Triodos-Doen Foundation, and has loaned 61,000 to BICC in Honduras through the Hivos-Triodos Fund.

Triodos Bank was established as a commercial bank by the Triodos Foundation in 1980 and provides finance for socially beneficial and environmentally sustainable enterprises. Triodos has participated in microfinance activities since 1994, when it founded the Hivos-Triodos Fund and the Triodos-Doen Foundation.  The Hivos-Triodos Fund is a joint initiative with the Humanist Institute for Development Cooperation (Hivos). As of December 2008, the fund had a portfolio of EUR 43.6 million (USD 60.9 million). The Triodos-Doen Foundation is administered in cooperation with the DOEN Foundation, which is funded by the proceeds from the National Postal Code Lottery and the Sponsor Lottery. As of December 2008, Triodos-Doen’s portfolio amounted to EUR 55 million (USD 76.8 million).

IMON International is a microfinance institution (MFI) that seeks to provide access to financial services to entrepreneurs in Tajikistan.  IMON has 8 branches, reaching 27,000 clients as of December 2008.  The institution has a gross loan portfolio of USD 30.5 million. According to the Association of Microfinance Organizations in Tajikistan (AMFOT), IMON’s portfolio accounts for 31 percent of all microfinance clients in the country.  The USD 834,000 loan from Triodos Bank will go toward expanding services across Tajikistan. Read about other recent investments in IMON International in this MicroCapital article.

Triodos Bank also reported a USD 61,000 loan to BICC, a microfinance institution in Honduras. BICC does not report to the MIX Market, the microfinance information clearing house, and no additional information was provided.

Triodos Bank recently won the Sustainable Bank of the Year Award, presented by the Financial Times and the International Finance Corporation. Read more about the awards in this MicroCapital story.

By Jaclyn Berfond, Research Assistant

Additional Resources:

CGAP Microfinance Dealbook

Triodos Bank: Homepage

MIX Market: Homepage

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MicroCapital Story: Pioneer in Microfinance Investing, Triodos Bank, Wins 2009 Sustainable Banking Award by Financial Times (FT) and International Finance Corporation (IFC); MicroEnsure and Root Capital Also Take Prizes

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