Another story courtesy of the CGAP/MIX Capital Markets newsletter. The Foundation for International Community Assistance (FINCA) in Azerbaijan received a USD 3 mn loan from the Microfinance Loan Obligations, S.A. through the intermediary of the Switzerland-based facilitator, Symbiotics. FINCA Azerbaijan is a microfinance institution (MFI) that was established in 1998 to “provide financial services to the world’s poorest families.” According to MIX market, the microfinance information clearinghouse, FINCA Azerbaijan has USD 20.9 mn in total assets and a gross loan portfolio of USD 19.2 mn spread throughout nearly 50,000 active borrowers (as of 31 December 2006). Microfinance Loan Obligations does not report to the MIX market. Symbiotics is an investment intermediary that has facilitated over USD 150 mn in loans. Symbiotics also provides investment services to fund managers and investors specializing in microfinance.
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