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In 2003, Credit Suisse co-founded the responsAbility Global Microfinance Fund along with Raiffeisen Banking Group, Baumann & Cie Banquiers, and the Andromeda Fund. This fund provides investors with a combination of moderate financial returns coupled with social benefits. responsAbility loans between $50,000 and $1.5 million to MFIs for a maximum of 5 years at a rate equal to LIBOR plus full cost plus full risk. As of March 31, 2006 the funds total assets reached $50 million with over $45 million allocated to microfinance investments. In addition, investment advisory services to the responsAbility Fund are provided by BlueOrchard, IPC/ProCredit, FINCA International, Symbiotics, Opportunity International, and PlaNet Finance.
Additional Resources
1. ING A Billion to Gain? A study on global financial institutions and microfinance, February, 2006
2. ResponsAbility
3. MIX Market: responsAbility4. MIcrocapital Blog: Best in Class Just Keeps Getting Better: Swiss responsAbility Microfinance Investment Fund Lends $1,755,095 to German ProCredit Holding. February 16, 20065. Microcapital Blog: Microfinance Investment Funds Ranked by Size and Microcredit Allocation January 13, 20066. Microcapital Blog: ResponsAbility Global Microfinance Fund Investing More than $7m in 11 Microfinance Institutions in Jordan, Benin, Ecuador, Nicaragua, Bosnia and Herzegovina, and Peru January 6, 2006
7. Credit Suisse
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