In January 2011, the Inter-American Development Bank (IDB) provided MicroCapital with data pertaining to debt and equity investments made during 2010 via the Multilateral Investment Fund (MIF) and the Social Entrepreneurship Program (SEP). The investments are covered by MicroCapital in three separate briefs. Links to the other two briefs are provided at the end of this brief.
The Inter-American Development Bank (IDB), a multilateral, development organization based in the United States that operates in Latin America and the Caribbean reported that it made local-currency debt investments totaling USD 1.6 million in December through the Multilateral Investment Fund (MIF), an autonomous fund managed by IDB. Fondo Esperanza (FE), a nonprofit organization based in Chile, received a loan equivalent to USD 500,000. FE’s mission is to improve the economic status of poor individuals by giving them access to loans and skills training. As of 2009, FE reported to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, a gross loan portfolio (GLP) of USD 9.1 million, total assets of USD 10.5 million, return on assets (ROA) of -26.88 percent and return on equity of -59.3 percent. During this time, FE reported having 38,000 active borrowers.
MIF also loaned a total of USD 1.1 million to three credit unions in Haiti that are part of the Association Nationale des Caisses Populaires Haitiennes (ANACAPH), an association of Haitian credit unions that was established in 1996. Caisse Populaires Kotelam received a loan equivalent to USD 200,000, Caisse Populaires Marigot received a loan equivalent to USD 300,000 and Caisse Populaire Fraternite received a loan equivalent to USD 600,000. ANACAPH’s mission is to consolidate all the credit unions in Haiti in order to represent and defend their interests. ANACAPH’s member institutions serve 309,000 individual members and reported aggregate assets of HTG 2 billion (USD 57 million) as of December 31, 2009 [1].
By Julie Moksim, Research Associate
About the Inter-American Development Bank (IDB): IDB is a US-based multilateral finance institution established in 1959 that operates in Latin America and the Caribbean. IDB works with governments, companies and non-governmental organizations (NGOs) to provide both loans and grants to support small and medium-sized enterprises (SMEs), health and education, among other sectors. IDB also provides technical assistance and research in these areas. Its Board of Executives is elected by forty-eight member countries, twenty-six of which are located in Latin America and the Caribbean. IDB reported total assets of USD 84 billion as of December 31, 2009.
About the Multilateral Investment Fund (MIF): MIF is an autonomous fund administered by the Inter-American Development Bank (IDB), a multilateral development finance organization. The fund has recently started decentralizing its operations, giving IDB country offices more autonomy to distribute “mini-loans,” with the idea that a greater amount of smaller projects will reach more people. MIF has thirty-eight donating member countries from Latin America, the Caribbean, North America, Europe and Asia. The United States and Japan play leading roles in the organization.
About Fondo Esperanza (FE): FE is a nonprofit organization based in Chile whose mission is to improve the economic status of poor individuals by giving them access to loans and skills training. FE was established in 1966 by Fundacion de Beneficencia Ayuda y Esperanza, a Chilean charitable organization. In 2000, FE became a subsidiary of Hogar de Cristo, a Christian, nonprofit organization based in Chile, but maintained its own legal status and board of directors. FE offers group loans through Village Banks (VB), which are groups of eighteen to twenty-five people who develop their businesses independently, but who are jointly responsible for loan payments. As of 2009, FE reported to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, a gross loan portfolio (GLP) of USD 9.1 million, total assets of USD 10.5 million, return on assets (ROA) of -26.88 percent and return on equity of -59.3 percent. During this time, FE reported having 38,000 active borrowers.
About Association Nationale des Caisses Populaires Haitiennes (ANACAPH): ANACAPH is an association of credit unions that was established in Haiti in 1996. ANACAPH’s mission is to represent and defend the interests of credit unions that operate in Haiti. The organization promotes strict observance of the law and transparency principles. ANACAPH member institutions have 309,000 individual members throughout Haiti including those working directly with Caisse Populaire Marigot, Caisse Populaire Kotelam and Caisse Populaire Fraternite. As of December 2009, ANACAPH member institutions reported aggregate assets of HTG 2 billion (USD 57 million). ANACAPH and its member credit unions do not report to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse.
[1] Data submitted by Inter-American Development Bank to MicroCapital January 2011
MicroCapital.org Brief, January 12, 2011: Inter-American Development Bank (IDB) Makes $4m in Equity Investments in Solutiones de MicroFinanzas SA (Microserfin) of Panama, Banco ProCredit Honduras, enConfianza Microfinanciera of Mexico and $3.5m in Loans to Fondo de Desarrollo Regional (Fondesurco) of Peru, IFD Sembrar Sartawi of Bolivia, https://www.microcapital.org/microcapital-brief-inter-american-development-bank-idb-makes-4m-in-equity-investments-in-solutiones-de-microfinanzas-sa-microserfin-of-panama-banco-procredit-honduras-enconfianza-microfinancie-2/
MicroCapital.org Brief, January 12, 2011: Multilateral Investment Fund (MIF) and Social Entrepreneurship Program (PES) of Inter-American Development Bank (IDB) Make $3.6m Debt Investment in Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras, Fondo de Desarrollo Comunal (FONDECO) of Bolivia, Fundacion de Apoyo Comunitario y Social del Ecuador (FACES), Alternativa Solidaria Chiapas (ALSOL) of Mexico, https://www.microcapital.org/microcapital-brief-multilateral-investment-fund-mif-and-social-entrepreneurship-program-pes-of-inter-american-development-bank-idb-make-3-6m-debt-investment-in-cooperativa-mixta-mujeres-unidas/
MicroCapital’s Microfinance Universe Profile: Inter-American Development Bank (IDB)
MicroCapital’s Microfinance Universe Profile: Multilateral Investment Fund (MIF)
MicroCapital’s Microfinance Universe Profile: Fondo Esperanza (FE)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fondo+Esperanza
MicroCapital’s Microfinance Universe Profile: Association Nationale des Caisses Populaires Haitiennes (ANACAPH)
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