BlueOrchard, a Switzerland-based commercial microfinance intermediary, recently reported to MicroCapital the details of two debt investments made during the month of August 2010, totaling the equivalent of USD 8.74 million, to microfinance institutions (MFIs) KEP Trust of Kosovo and ProCredit Bank of Romania. The details of these transactions are as follows [1].
BlueOrchard loaned the equivalent of USD 2.6 million to KEP Trust, a microfinance institution in Kosovo. BlueOrchard made the original loan in euros through Dexia Microcredit Fund (DMCF), a microfinance investment vehicle managed by BlueOrchard Finance SA. As of year-end 2009, KEP Trust reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, total assets of USD 70 million, a gross loan portfolio of USD 60 million and 19,366 active borrowers.
BlueOrchard loaned the equivalent of USD 6.14 million to ProCredit Bank of Romania, a “full-service” Romanian bank. BlueOrchard also made this loan in euros through DMCF. As of year-end 2009, PCBR reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, total assets of USD 370 million, a gross loan portfolio of USD 258 million and 35,533 active borrowers.
By Lindsey Shaughnessy, Research Associate
About BlueOrchard: BlueOrchard is a Switzerland-based, commercial microfinance intermediary that provides loans to microfinance institutions through its subsidiary BlueOrchard Finance S.A. and invests in the equity of microfinance institutions and microfinance network funds through its subsidiary BlueOrchard Investments S.A. BlueOrchard had approximately USD 980 million under management as of June 2009.
About Dexia Microcredit Fund (DMCF): The Dexia Micro-Credit Fund (DMCF) invests in debt instruments issued by microfinance institutions (MFIs), which are retail micro-lenders. DMCF finances 88 institutions in 33 developing countries in Africa, Asia, Eastern and Central Europe and Latin America. DMCF is managed by BlueOrchard Finance SA. It is also certified by LuxFLAG.
About the KEP Trust: KEP Trust, founded in 1999 as the Kosovo Enterprise Program, is a microfinance institution that operates 33 branches across Kosovo. KEP Trust offers microloans and training services to small and medium-sized enterprises in Kosovo and is in the process of becoming a fully regulated bank. As of year-end 2009, KEP Trust reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, total assets of USD 70 million, a gross loan portfolio of USD 60 million and 19,366 active borrowers.
About ProCredit Bank Romania: ProCredit Bank Romania (PCBR), a member of the ProCredit Group, is a “full-service” bank that operates in Romania. PCBR defines itself as “development-oriented” and works especially with micro-, small and medium- sized enterprises. As of year-end 2009, PCBR reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, total assets of USD 370 million, a gross loan portfolio of USD 258 million and 35,533 active borrowers.
About ProCredit Holding: Procredit Holding consists of 21 banks operating in transition economies and developing countries in Eastern Europe, Latin America and Africa. It provides credit and other banking services to small and medium-sized enterprises and lower and middle income savers who have previously had limited access to formal financial services. As of 2009 ProCredit Holding reports total assets of EUR 4.9 billion (the equivalent of USD 6 billion) and a gross loan portfolio of EUR 3.3 billion (the equivalent of USD 4 billion).
Sources and Additional Resources:
[1] Per data submitted by BlueOrchard to MicroCapital August 2010
MicroCapital’s Microfinance Universe profile: BlueOrchard
MicroCapital’s Microfinance Universe profile: Dexia Microcredit Fund (DMCF)
MicroCapital’s Microfinance Universe profile: KEP Trust
MicroCapital’s Microfinance Universe profile: ProCredit Bank Romania
MicroCapital’s Microfinance Universe profile: ProCredit Holding
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/.
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