responsAbility Social Investment Services, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has executed debt investments totaling USD 2 million to the microfinance institution (MFI), Eskhata Bank, in Tajikistan.
Eskhata Bank, an MFI in Tajikistan, will receive USD 1.5 million from responsAbility Global Microfinance Fund (rAGMF) and USD 500,000 from responsAbility Mikrofinanz-Fonds. Both loans are at a floating interest rate of 5.5 percent for a term of 35 months. Planis, a subsidiary of the French PlaNet Finance that advises microfinance investment funds, served as a partner organization in the deal.
About Eskhata Bank:
Eskhata Bank is a regulated commercial bank in Tajikistan, founded in 1993. It provides loans, savings and money transfer services to its customers. According to the MIX Market, the microfinance information clearing house, Eskhata Bank had total assets of USD 75.5 million, a gross loan portfolio of USD 43.8 million, return on assets (ROA) of 3.37 percent and return on equity (ROE) of 21.44 percent as of 2008.
About responsAbility Global Microfinance Fund:
The responsAbility Global Microfinance Fund (rAGMF) invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. As of April 2010, it has been certified by the Luxemburg Funding Labeling Agency (LuxFLAG), an independent nonprofit that certifies MIVs based on their direct or indirect investment in the microfinance sector. According to the MIX Market, the microfinance information clearing house, as of 2009, responsAbility Global Microfinance Fund had total assets of USD 353.8 million, USD 283.8 million of which were allocated to MFI investments.
About responsAbility Mikrofinanz-Fonds:
The responsAbility Mikrofinanz-Fonds invests in microfinance institutions (MFIs) through debt securities and equity investments. The fund was created in 2007 by responsAbility of Luxemburg, and is financed by Bank im Bistum Essen, a German cooperative financial institution, and Stadtsparkasse D’sseldorf, a German bank. As of April 2010, it has been certified by the Luxemburg Funding Labeling Agency (LuxFLAG), an independent nonprofit, which certifies MIVs based on their direct or indirect investment in the microfinance sector. According to the MIX Market, the microfinance information clearing house, as of 2009, responsAbility Mikrofinanz-Fonds had total assets of USD 108.5 million, USD 66.4 million of which were allocated to MFI investments.
About PlaNet Finance:
PlaNet Finance Group is an international organization with the mission of developing microfinance to alleviate poverty. It was founded in 1998 in Paris, France, and is currently active in 80 countries. PlaNet Finance is comprised of eight independent nonprofit and for-profit units: PlaNet Finance Advisory Services, which provides technical and advisory services; Planet Rating, a microfinance rating agency; Planis, which specializes in advisory services, structuring and managing microfinance funds; MicroCred, an investment company in microfinance; PlaNet Guarantee, which specializes in microinsurance; FinanCites, a social venture capital company; MicroFit, a microfinance software unit; and PlaNet University, a microfinance training center.
By Matthew Fox, Research Assistant
Sources and Additional Resources
E-mail correspondence with MicroCapital.
MicroCapital Universe: Eskhata Bank: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=the+eskhata+bank
MicroCapital Universe: responsAbility Global Microfinance Fund: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+(rAGMF)
MicroCapital Universe: responsAbility Mikrofinanz-Fonds: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
MicroCapital Universe: PlaNet Finance: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=PlaNet+Finance
Browse the MicroCapital Universe and add your entry to the wiki at:?https://www.microcapital.org/microfinanceuniverse/
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