MICROCAPITAL BRIEF: MFIs in Ecuador, Kosovo, Kyrgyzstan Borrow from C-Quadrat Dual Return Vision Microfinance Fund

Microfinance institutions (MFIs) in Ecuador, Kosovo and Kyrgyzstan have borrowed unspecified amounts of funding from the Dual Return Vision Microfinance Fund, which is managed by Austria-based C-Quadrat Asset Management (AM). C-Quadrat AM, a member of the C-Quadrat Investment Group, told MicroCapital hours ago that the transactions occurred during March. While declining to name the MFIs, the firm described two of the institutions in Ecuador, a cooperative and a bank, each of which have worked with C-Quadrat for “many years.”

In addition to microfinance, the cooperative, which was founded in 1963, engages in non-financial services such as reforestation programs and providing dental treatments in rural schools. The bank, which was founded in 1996, has been improving its client protection efforts and thereby recently earned certification from the Smart Campaign of the US-based nonprofit Center for Financial Inclusion.

As of March 2019, the Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency sub-funds hold assets valued at an aggregate of USD 588 million. The C-Quadrat Investment Group, which was founded in 1991, manages EUR 10 billion (USD 12 billion) in assets as of 2017. It has operations in 20 countries in Eurasia.

Sources and Additional Resources

Information provided directly to MicroCapital by C-Quadrat

Background on C-Quadrat Investment Group
https://www.c-quadrat.com/en/company/history/

Center for Financial Inclusion home page
https://www.centerforfinancialinclusion.org/

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