The responsAbility Global Microfinance Fund, a microfinance investment vehicle (MIV) founded in 2003, recently reported to MicroCapital that it has provided debt financing totaling USD 2.5 million to AgroInvest Holding of Montenegro. The fund reports total assets of USD 358.3 million as of March 31, 2009, and is one of four funds operated by responsAbility Social Investments AG of Switzerland, the others being responsAbility Base of the Pyramid, responsAbility Mikrofinanz-Fonds and responsAbility Microfinance Leaders Fund. According to Microfinance Information Exchange (MIX), for fiscal 2008 AgroInvest’s total gross loan portfolio was USD 91.2 million and total assets were USD 97.9 million.
By Jennifer Shevock, Research Associate
About responsAbility Social Investments AG:
responsAbility Social Investments AG (responsAbility) is a Swiss social investment company. With its investments, responsAbility aims to enable people in developing countries and emerging markets to access markets, information and other services important for their development in sectors such as microfinance, SME (small and medium enterprises) financing, fair trade and independent media. The company’s investment products promise private and institutional investors the opportunity to contribute to positive social development while earning a financial return. responsAbility is backed by a social venture capital company and Swiss financial institutions including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG and George Avenue.
About responsAbility Global Microfinance Fund:
The responsAbility Global Microfinance Fund was created in 2003 by responsAbility Social Investments AG and invests in microfinance institutions and microfinance investment vehicles mostly through short- to medium-term debt securities. As of March 31, 2009, fund assets were USD 358.3 million and USD 283.8 million were invested in microfinance institution investments.
About AgroInvest:
AgroInvest is a microfinance institution that offers financial services to rural people in Montenegro and provides consultancy services to rural households in Serbia with the goal of supporting economic development. Most of AgroInvest’s clients use loans for start-up businesses, and the majority of AgroInvest’s portfolio is used for agriculture. Over 60 percent of its clients are women. In fiscal 2008, its total gross loan portfolio was USD 91.2 million and total assets were USD 97.9 million, according to Microfinance Information Exchange (MIX).
Sources and Additional Resources:
MicroCapital Universe. responsAbility Social Investments AG. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital Universe. responsAbility Global Microfinance Fund. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+(rAGMF)
MicroCapital Universe. AgroInvest. https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=AgroInvest
Microfinance Information Exchange (MIX): http://www.mixmarket.org/mfi/agroinvest
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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