Global Partnerships (GP), a microfinance organization with offices in the United States and Nicaragua, recently reported to MicroCapital that it made new loans and renewed existing loans to microfinance institutions (MFIs) in Latin America worth USD 2.3 million.
In Nicaragua, the Global Partnerships Social Investment Fund (SIF) 2010, a microfinance investment vehicle (MIV) managed by GP, made a new debt investment of USD 500,000 in Pro Mujer Nicaragua, a branch of Pro Mujer, an MFI that was established in 1990 with the mission of empowering women through access to financial services, business training and health services. The Global Partnerships Microfinance Fund 2008, another MIV managed by GP also renewed an existing loan to Pro Mujer Nicaragua of USD 600,000. As of 2009, Pro Mujer Nicaragua reported to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, total assets of USD 6.5 million, a gross loan portfolio (GLP) of USD 3.7 million and 18,200 active borrowers. As of 2009, Pro Mujer reported total assets of USD 70.3 million.
In Peru, the Global Partnerships Microfinance Fund 2008 converted an existing USD 1.25 million loan into local currency for Edpyme Credivision, an MFI that was established in 2000. As of 2009, Credivision reported to MIX total assets of USD 13.5 million, GLP of USD 9.5 million and 12,200 active borrowers.
By Julie Moksim, Research Associate
About Global Partnerships (GP): Global Partnerships (GP) raises capital through a microfinance investment fund strategy. The company has staff based in Seattle, in the US state of Washington and Managua, Nicaragua. As of June 30, 2010, GP invests in 27 microfinance institutions that serve a total of 845,000 borrowers in seven Latin American countries.
About Global Partnerships Social Investment Fund (2010): Social Investment Fund 2010 (SIF 2010) is a USD 20 million, five-year debt fund created by Global Partnerships (GP), a microfinance organization based in the United States, which aims to provide affordable loan capital to up to 20 microfinance institutions in Latin America. The goals of the fund are to increase access to microcredit for people living in poverty in Latin America; to support the growth and development of microfinance institutions (MFIs) that are achieving exceptional levels of social impact; and to return capital to investors with fixed-income returns. Forty-one investors are participating in SIF 2010, including the Inter-American Development Bank (IDB); Overseas Private Investment Corporation (OPIC); Seattle University; foundations including Linked Foundation, Perls Foundation and the Brown Family Private Foundation; faith-based institutions such as the Mercy Partnership Fund; and 23 accredited individual investors.
About Global Partnerships Microfinance Fund 2008: Global Partnerships Microfinance Fund 2008 (MFF 2008) is a USD 20 million fund composed of USD 1.5 million in philanthropic capital as equity leveraged by USD 18.5 million in socially motivated investments of debt and equity capital from qualified individual and institutional investors. The fund closed in November 2008 and has helped to expand the support of all three Global Partnerships funds to a total of 28 microfinance institutions serving 812,000 borrowers.
About Pro Mujer: Pro Mujer is a women’s development and microfinance organization, established in Bolivia in 1990, that provides microfinance services, healthcare and business training to 202,000 women in Latin America. These services are delivered through communal banks, or peer groups, of 20 to 30 women who support each other and guarantee each other’s loans. As of 2009, Pro Mujer reported total assets of USD 70.3 million.
About Edpyme Credivision Peru: Credivision Peru is a microfinance organization whose mission is to contribute to the development of small businesses and to improve the lives of poor people by providing access to financial services. Credivision Peru is a Christian organization and was established in 2000. As of 2009, Credivision reported to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, total assets of USD 13.5 million, a gross loan portfolio of USD 9.5 million and 12,200 active borrowers.
Sources and Additional Resources:
Information provided to MicroCapital by Global Partnerships
MicroCapital.org Brief, April 11, 2011: Global Partnerships (GP) Microfinance Funds Loans $1m to Enlace of El Salvador, Cafe y Desarrollo of Mexico, https://www.microcapital.org/microcapital-brief-global-partnerships-gp-microfinance-funds-loan-1m-to-enlace-of-el-salvador-cafe-y-desarrollo-of-mexico/
MicroCapital.org Brief, April 7, 2011: Global Partnerships Social Investment Fund (SIF) 2010 Loans $3m to Sartawi, FONDECO of Bolivia and Espoir of Ecuador for Microfinance, https://www.microcapital.org/microcapital-brief-global-partnerships-social-investment-fund-sif-2010-loans-3m-to-sartawi-fondeco-of-bolivia-and-espoir-of-ecuador-for-microfinance/
MicroCapital’s Microfinance Universe Profile: Global Partnerships (GP)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Global+Partnerships
MicroCapital’s Microfinance Universe Profile: Global Partnerships Social Investment Fund (2010)
MicroCapital’s Microfinance Universe Profile: Global Partnerships Microfinance Fund 2008
MicroCapital’s Microfinance Universe Profile: Pro Mujer
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pro+Mujer
MicroCapital’s Microfinance Universe Profile: Edpyme Credivision Peru
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Edpyme+Credivision+Peru
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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