Huruma Fund, a Spain-based vehicle supporting rural financial services providers in low- and moderate-income countries, recently received a donation of EUR 7.7 million (USD 8.9 million) from the EU for a technical assistance facility (TAF) set up by the two primary entities behind Huruma, Gawa Capital Partners and Compañia Española de Financiación del Desarrollo (COFIDES), both of Spain. The TAF will support companies, such as
Tag: COFIDES
MICROCAPITAL BRIEF: Allianz Commits $24m to Final Close of Huruma Fund, Investor in Rural Microfinance
Huruma Fund, a public-private partnership that invests in lenders to smallholder farmers in low- and middle-income countries, recently accepted an investment of EUR 20 million (USD 23.7 million) from German financial services firm Allianz Group as part of the fund’s final closing, bringing its total size to
MICROCAPITAL BRIEF: Huruma Fund to Issue Loan of $3.6m, Technical Assistance to COOPAC Norandino to Expand Agricultural Microfinance in Northern Peru
The Huruma Fund, a public-private impact investment vehicle with commitments of EUR 120 million (USD 145 million), recently issued a three-year loan of EUR 3 million (USD 3.58 million) to Cooperativo de Ahorro y Crédito (COOPAC) Norandino of Peru, a microfinance institution (MFI) aiming to provide services such as “tailored credit and savings products, at interest rates that are lower than market average” to the agrarian sector in northern Peru. To complement the loan, various partners of Huruma will support COOPAC Norandino “with projects to improve social performance, digitisation and
MICROCAPITAL BRIEF: AECID, COFIDES Launch $71m TIF Program Targeting Financial Inclusion, Sustainability in Latin America
Compañia Española de Financiación del Desarrollo (COFIDES), a development finance institution controlled by the Spanish government, recently unveiled a new program called Triple Bottom Line Inclusive Finance in Latin America (TIF), in collaboration with the Agencia Española de Cooperación Internacional para el Desarrollo (AECID), a unit of the government of Spain. TIF aims to support low-income populations in Latin America by increasing access to loans while
MICROCAPITAL BRIEF: COFIDES Launches $145m Huruma Fund to Deliver Microfinance to 45k Farmers on 4 Continents
Compañia Española de Financiación del Desarrollo (COFIDES), a development finance institution controlled by the Spanish government, recently launched the Huruma Fund, an investment vehicle with commitments of EUR 120 million (USD 145 million) to assist rural farmers in Asia, sub-Saharan Africa, and Latin America and the Caribbean via a range of intermediaries. Seventy percent of Huruma’s portfolio will be deployed via