BlueOrchard Finance SA, a subsidiary of Switzerland-based commercial microfinance intermediary BlueOrchard, recently reported to MicroCapital the following two loans it made to Cambodian microfinance institutions (MFIs):
BlueOrchard loaned Prasac USD 2 million from the Microfinance Enhancement Facility (MEF), a microfinance investment vehicle that was established in 2009 by the World Bank Group’s International Finance Corporation and German deelopment bank KfW Entwicklungsbank to refinance loans to well-established MFIs to mitigate the effects of the global credit crunch. According to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, Prasac reported a gross loan portfolio of USD 64.4 million, total assets of USD 71.3 million and 87,945 active borrowers as of 2009.
BlueOrchard also loaned the local-currency equivalent of USD 515,000 from MEF to Hattha Kaksekar Limited (HKL), which reports total assets of USD 33.4 million, a gross loan portfolio of USD 31.2 million, 41,000 active borrowers, return on assets of 3.45 percent and return on equity of 16.57 percent as of 2009.
About BlueOrchard: BlueOrchard is a Switzerland-based, commercial microfinance intermediary that provides loans to microfinance institutions through its subsidiary BlueOrchard Finance SA and invests in the equity of microfinance institutions and microfinance network funds through its subsidiary BlueOrchard Investments SA. BlueOrchard had approximately USD 895 million assets under management and a microfinance portfolio of USD 715 million as of year-end 2009.
About Prasac: Prasac, formerly a credit component of the “Prasac Project,” funded by the European Union and implemented by the Royal Government of Cambodia, is a microfinance institution (MFI) in Cambodia. It was officially registered in 2004 with the Ministry of Commerce as a private limited liability company. According to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, Prasac reported a gross loan portfolio of USD 64.4 million, total assets of USD 71.3 million and 87,945 active borrowers as of 2009.
About Hattha Kaksekar Limited (HKL): Hattha Kaksekar Limited is a microfinance institution (MFI) based in Phnom Penh, Cambodia. It was founded in 1994 by two charitable organizations, the Organisation Canadienne pour la Solidarit? et le D?veloppement (OCSD) and Oxfam International. It was transformed into a non-governmental organization in 1996 and a private liability company in 2001. Its financial supporters have included Oikocredit, Norfund, Triple Jump, the French Development Agency (AFD), and Deutsche Gesellschaft f?r Technische Zusammenarbeit (GTZ). HKL reports total assets of USD 33.4 million, a gross loan portfolio of USD 31.2 million, 41,000 active borrowers, return on assets of 3.45 percent and return on equity of 16.57 percent as of 2009.
Source: Data submitted by BlueOrchard to MicroCapital November 2010
KNOW A FUND: Microfinance Enhancement Facility: https://www.microcapital.org/know-a-fund-microfinance-enhancement-facility-an-interview-with-mark-berryman-of-the-international-finance-corporation-ifc/
MicroCapital’s Microfinance Universe profile: BlueOrchard, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BlueOrchard
MicroCapital’s Microfinance Universe profile: Prasac, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Prasac
MicroCapital’s Microfinance Universe profile: Hattha Kaksekar Limited (HKL), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Hattha+Kaksekar+Limited
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