Developing World Markets (DWM), a fund manager based in the US state of Connecticut, recently announced that three DWM-managed funds internally syndicated a debt package totaling USD 32 million for Lanka Orix Leasing Company (LOLC) Micro Credit, which is located in Sri Lanka. Founded in 2009, LOLC Micro Credit provides both group and individual loans to rural micro-, small and medium-sized enterprises via 130 service centers. As of 2017, LOLC, which is a member of the Japanese conglomerate Orix, reported pre-tax profits of USD 21 million. As of April 2016, LOLC Micro Credit reported assets worth USD 319 million.
DWM, which was founded in 1994, has approximately USD 1 billion invested in approximately 50 countries. The firm exclusively invests in emerging and frontier markets with the goal of addressing both economic and social needs. The funds involved in this transaction are based in Germany, Luxembourg and the Netherlands.
By Ryan Gauthier, Research Associate
Sources and Additional Resources
Information provided directly to MicroCapital by DWM.
LOLC Micro Credit:
MICROCAPITAL BRIEF: Microbank LOLC (Cambodia) Authorized to Offer Leasing Services:
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