ResponsAbility made local-currency loans
A Swiss asset management company that manages four microfinance investment vehicles (MIVs) responsAbility Social Investments AG (responsAbility) made local-currency loans equivalent to the following amounts through its MIVs: USD 2.05 million to Financiera Confianza; USD 2.97 million to ProCredit Mexico; USD 2 million to ProCredit Ecuador and USD 3.5 million to Edpyme Crear Arequipa.
The MIV Mikrofinanz-Fonds wasan MFI established in 2007 that is a member of Germany’s ProCredit Holding It was the source of the debt investment in ProCredit Ecuador. ProCredit Ecuador reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 334 million, return on assets (ROA) of 2.24 percent, a gross loan portfolio of USD 273 million, and return on equity (ROE) of 16.3 percent. On December 31, 2010, ProCredit Holding reported operations in 21 countries. It has a gross loan portfolio of EUR 3.6 billion and assets of EUR 5.2 billion.
ProCredit Mexico established in 2007. It is also held by ProCredit Holding. It received debt investments from responsAbility Mikrofinanz-Fonds and responsAbility Global Microfinance Fund (rAGMF). ProCredit Mexico reported equity of EUR 7.05 million on December 31, 2010. The MIV rAGMF made the debt investment in Financiera Confianza. It was established in 1992 and reports to a gross loan portfolio of USD 141 million, MIX total assets of USD 178 million, ROE of 19.9 percent , ROA of 2.84 percent, and on March 31, 2011 approximately 80,000 active borrowers.