C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance funds extended loans totaling USD 10 million during June. The borrowing microfinance institutions (MFIs) were in countries such as Armenia, Bosnia and Herzegovina, China, Colombia, El Salvador, India and Indonesia.
The Salvadoran lender was founded in 1995 and will use the loan proceeds to finance micro-, small and medium-sized enterprises, particularly in rural areas. The company endeavors to support “social projects, good labor relations, outreach to remote areas” and provides financial education during community meetings to reduce the risk of over-indebtedness. The name of the MFI and the amount it borrowed remain confidential.
As of June 2017, the two Dual Return Funds manage assets valued at a total of USD 580 million. C-Quadrat Asset Management is a unit of Austrian fund manager C-Quadrat, which manages assets equivalent to EUR 5.3 billion (USD 5.9 billion) as of 2016.
By the MicroCapital Team
Sources and Additional Resources
Information provided directly to MicroCapital by C-Quadrat [http://c-quadrat.com/].
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