NITLAPAN UCA
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Our client is Nitlapan, an institute of the Catholic University Nicaragua. Nitlapan is not a microfinance institution, but it has a strong history in microfinance and close ties to the microfinance industry. Nitlapan has been in charge of administrating the microfinance scheme for Nicaragua Sugar’s former sugar cane workers (“ASOCHIVIDA members”) suffering from chronic kidney disease (“CKD”) while providing technical assistance and training that is crucial for the CKD victims and/or their family to set up a viable business. Their services include orientation about the feasibility of the type of business activity, the evaluation of business ideas, the formulation of a business plan, and the elaboration of financial plans.
What is our funding objective?
The objective of the funding is to support the entrepreneurial microfinance program for ASOCHIVIDA members managed by Nitlapan on its path to sustainability. The program provides loans and technical assistance to promote livelihood opportunities for families, whose main income earner has fallen ill to CKD. CKD is an epidemic affecting manual workers in Central America.
Why do we fund this investment?
FMO is financing this initiative, because it is aligned with the MASSIF strategy to foster entrepreneurship and increase access to finance at the Base of the Pyramid. FMO is joining DEG to support this microfinance initiative. So far, DEG has been an important partner to support Nicaragua Sugar to address CKD.
What is the Environmental and Social categorization rationale?
N/A
- Region
- Latin America & The Caribbean
- Country
- Nicaragua
- Sector
- Agribusiness, Food & Water
- Publication date
- 12/31/2018
- Effective date
- 7/30/2019
- End date
- 2/24/2022
- Total FMO financing
- EUR 0.13 MLN
- Funding
- MASSIF