The U.S. Overseas Private Investment Corporation (OPIC) and Citigroup recently provided $30 million in financing to German headquartered international development holding company ProCredit Holding AG. ProCredit Holding will consequently disburse the money to its 19 subsidiaries in Latin America, Eastern Europe, and Africa. Last week, MicroCapital posted a blog entry about an investment made by ProCredit Holding. For more information about the company, please visit the blog dated October 25, 2005.

OPIC is a U.S. based international development agency established in 1971, which by the end of 2004 had over $5.9 billion in total assets. Citigroup, which has a history dating back to 1812, is a financial services company. It had over $1.5 trillion in assets at 2004’s year end, during which time Citigroup established Global Microfinance, a business group focused on providing financial resources to microfinance institutions (MFIs).

1) Main article discussed in entry, USINFO: “U.S. Agency to Provide $30 Million for Loans in 19 Countries.”
2) “ProCredit Holding: ProCredit Institutions.”
3) MicroCapital Blog: “German ProCredit Holding Makes $8 Million Microfinance Investment into ProCredit Ukraine.”
4) Overseas Private Investment Corporation (OPIC): “Expanding Horizons: Annual Report 2004.”
5) “About Citigroup.”
6) “2004 Annual Report.”