MICROCAPITAL BRIEF: ResponsAbility to Loan Additional $3m to Bolivian Microfinance Institution Diaconia FRIF

ResponsAbility, a Switzerland-based asset management firm specializing in development investments, recently informed MicroCapital that it is lending an additional USD 3 million to Diaconia Fondo Rotativo de Inversion y Fomento (FRIF), a non-banking financial institution based in Bolivia. The total loan amount now outstanding from responsAbility to Diaconia is USD 5.9 million [1].

Founded in 1991, Diaconia FRIF became a regulated institution in September 2014. As of December 2015, it reported a total loan portfolio of USD 114 million with 67,000 borrowers served via 58 branches.

By Sharanya Madhavan, Research Associate

About Diaconia FRIF

Established in 1991, Diaconia FRIF (Fondo Rotativo de Inversion y Fomento) is a Bolivian microfinance institution (MFI) that provides individual and group microfinance loans. As of December 2015, Diaconia had a total loan portfolio of USD 114 million and 67,000 borrowers. It does not accept deposits.

About responsAbility Investments

Founded in 2003, responsAbility Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and services in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade, and independent media. 70 percent of the share capital of ResponsAbility is held by Swiss financial institutions Baumann & Cie, Raiffeisen Schweiz, Swiss Re and Bank Vontobel AG while the remaining 30 percent is held by the employees. Credit Suisse is a founding parner of the firm. Among other entities, responsAbility Investments manages responsAbility Participations AG, a public limited investment company that was founded in 2012. ResponsAbility Participations’ shareholders include German development bank Kreditanstalt für Wiederaufbau (KfW) and unspecified pension funds and Swiss banks. As of December 2015, responsAbility reported total assets under management of approximately USD 3 billion and had invested directly in 338 companies.
Sources and Additional Resources:

[1] Direct contact with responsAbility

MicroCapital Universe: responsAbilty

MicroCapital Universe: Diaconia FRIF

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