A unit of Austrian fund manager C-Quadrat, C-Quadrat Asset Management, recently informed MicroCapital that a Nicaraguan microfinance institution (MFI) was among the beneficiaries of the equivalent of USD 12 million that its Dual Return Vision Microfinance funds lent during October. The other borrowers are located elsewhere in Central and South America as well as Bosnia and Herzegovina and India. The identities of the MFIs and the amounts borrowed by each remain confidential.
The Nicaraguan MFI has been lending since the early 1990s and mostly serves the northwestern part of the country. C-Quadrat describes its approach as “focusing on the bottom of the pyramid in rural areas” and “conservative” with “very high portfolio quality.” The MFI is monitored by local authorities to verify client protection practices. It also supports the use of solar panels and reforestation efforts.
As of October 2017, the Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds manage assets valued at a total of USD 641 million. C-Quadrat manages assets equivalent to EUR 5.3 billion (USD 5.9 billion) as of 2016.
Sources and Additional Resources:
Information provided directly to MicroCapital by C-Quadrat
MicroCapital: MFIs in Asia, Central America Borrow $10m from C-Quadrat’s Dual Return Vision Microfinance Funds
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