BlueOrchard Finance and Morgan Stanley concluded a $106 million structured finance deal, backed by a pool of loans to 22 microfinance institutions (MFIs) from 13 different nations: Mongolia, Bosnia, Colombia, Peru, Bolivia, Mexico, Nicaragua, Ecuador, Azerbaijan, Albania, Georgia, Russia and Cambodia. These BlueOrchard Loans for Development (BOLD) represent the first public collateralized debt obligation (CDO) of loans for MFIs; before now, most MFIs subsisted on charitable donations from the West.
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