Germany-based Invest in Visions (IIV) recently announced that it loaned USD 1.5 million to Joint Stock Company (JSC) Georgian Credit, a microfinance institution (MFI) in Georgia. IIV disbursed the loan from its microfinance investment vehicle IIV Mikrofinanzfonds, which lends to MFIs in developing countries. Including this loan, IIV Mikrofinanzfonds loaned USD 12.8 million during the month to otherwise undisclosed MFIs in Ecuador, Georgia, El Salvador and Mongolia.
The mission of Georgian Credit is to “create new possibilities for micro businesses and to contribute to the sustainable development of the country’s economy.” The MFI began operations in 2010, and it operates 14 branches as of 2018. Georgian Credit has a gross loan portfolio of approximately USD 16.7 million outstanding to roughly 8,400 borrowers as of August 2018. The institution does not accept deposits.
IIV was founded in 2006, and it launched IIV Mikrofinanzfonds in 2011. The fund, which focuses on investing in small and medium-sized MFIs in rural areas, accepts investments as small as EUR 100 (USD 118). As of June 2018, it has a volume of EUR 576 million (USD 671 million). Since its inception, IIV Mikrofinanzfonds has produced annualized returns averaging around 2.4 percent, depending on share class. In addition to microfinance, IIV offers services in sectors such as “sustainable” agriculture and social enterprises.
By Erik McDonald, Research Associate
Sources and Additional Resources
IIV August factsheet
https://www.investinvisions.com/files/8_august_iiv_mikrofinanzfonds_factsheet_englisch_8.pdf
IIV background
https://www.investinvisions.com/en/about-us.html
JSC Georgian Credit
http://georgiancredit.ge
MicroCapital Brief; August 10, 2018; Invest in Visions’ IIV Mikrofinanzfonds Lends $4.7m to Microfinance Institution ASA Pakistan
https://www.microcapital.org/microcapital-brief-invest-in-visions-iiv-mikrofinanzfonds-lends-4-7m-to-microfinance-institution-asa-pakistan/
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