The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported responsAbility Microfinanz-Fonds, a Luxembourg-based fund, has granted a loan of USD 219,997 to Fundación CAMPO, a Latin America microfinance institution (MFI) and a loan of USD 733,326 to another Latin America MFI, COOPROGRESO.
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.
Fundación CAMPO, based in San Miguel, El Salvador, was founded in 1996 as a non-profit organization. According to its most recent “financial data” on the MIX, the MFI had total assets of equivalent USD 3.33 million which consisted of a gross loan portfolio of equivalent USD 2.65 million. Return on assets for the MFI was 4.86% and it had return on equity of 6.39%. At the end of 2006, the MFI serviced 2,912 active borrowers of which approximately 37.10% are women. The average loan balance for each borrower is equivalent USD 913.
COOPROGRESO, based in Ecuador, is a credit cooperative founded in 2003. As of December 2006, the MFI’s MIX profile indicates 16,648 active borrowers representing a total loan portfolio of equivalent USD 50.5 million and an average loan balance of equivalent USD 3,037. The MFI had total assets of equivalent USD 61 million. Return on assets was 4.05% and return on equity was 22.21%. COOPROGRESO had approximately 48,049 savers with an average savings balance of equivalent USD 748.
Additional Resources:
CGAP: “List of Microfinance Investment Vehicles created in 2007 & 2006”
CGAP: “List of Recent Transactions”
MIX Market: “Profile for COOPROGRESO”
MIX Market: “Profile for Fundacisón CAMPO”
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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