The Netherlands Development Finance Company (FMO), founded by the Dutch government in 1970 to support the private sector in developing countries, invests in microfinance as a way to stimulate sustainable economic growth. Between January 2007 and March 2009, FMO has invested at least USD 160 million in microfinance services around the world.
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NEWS WIRE: United States: In Harvard International Review, Eric Thurman Argues “Africa Needs Microfinance”
Source: Harvard International Review.
MICROCAPITAL STORY: Microfinance Investor Netherlands Development Finance Company (FMO) to Establish $125m Fund to Support Small and Medium-sized Enterprises (SMEs) in India
The Netherlands Development Finance Company (FMO), a development bank founded by the Dutch government and business community in 1970, plans to establish a USD 125 million fund in India which will finance family-owned small and medium-sized enterprises (SMEs). The proposed Banyan Tree Fund will receive a USD 25 million contribution from FMO. The bank is in talks with Indian investors and other international development finance institutions to fund the balance amount.
MICROCAPITAL STORY: A Leading Group of Microfinance Players, including Microrate, Global Partnerships, ACCION International, the Calvert Foundation and Calmeadow, Create The FX Consortium, A Foreign Exchange Risk Mitigation Service
The FX Consortium has been founded by a group of leading players in the US microfinance industry to provide a “Foreign Exchange Risk Mitigation Service”. Its aim is to help microfinance institutions (MFIs) that want to use complex financial processes, such as hedging, to manage their hard currency foreign debt obligations.
MICROCAPITAL STORY: Lonrho to Acquire 51% Stake and Control of Mozambican Microfinance Bank, Socremo Banco de Microfinancas
Lonrho, the British conglomerate that is rapidly growing a portfolio of investments in Africa, has announced that it has signed a letter of intent to acquire 51% and board control of the second largest bank in Mozambique, Socremo Banco de Microfinancas (Socremo). The transaction is subject to Reserve Bank of Mozambique approval.
WHO’S WHO IN MICROFINANCE: Hivos-Triodos Fund Foundation
Founded in 1994, the Hivos-Triodos Fund Foundation, a microfinance investment vehicle, was created out of a joint partnership between Triodos Bank, a private bank of the Netherlands investing in social investment, and the Humanist Institute for Development Cooperation (Hivos), a non-government organization (NGO) also based in the Netherlands. The Hivos-Triodos Fund Foundation is managed externally by Triodos Investment Management, a fund management division with Triodos Bank, and internally by a Supervisory Board that is appointed by Hivos.