BIM MICROFINANCE II LLC
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
Locfund II is a follow-up fund of Locfund L.P., a microfinance fund that has extended local currency loans to Tier II/III MFIs in Latin America and the Caribbean since 2007. Locfund was established by Bolivia Investment Management (BIM). Locfund II, a US$60 million fund, is expected to continue and improve the success of Locfund.
What is our funding objective?
The aim of the capacity development funding is to support the Locfund II's clients (Tier II/III MFIs in LAC) in their development by providing targeted consultancy and training. The areas of support are divided into 4 components: accessing the capital markets, risk management, social and environmental performance (including Client Protection Principles and governance) and knowledge dissemination.
Why do we fund this investment?
Through Locfund II FMO is able to support multiple microfinance institutions that we would otherwise not be able to support. This provides greater reach and potential for not only economic but also inclusive and green development impact (taking into account rural and gender issues that Locfund II targets, their environmental, social and governance agenda and the contribution to strengthening the institutions that serve the working poor).
More investments
| Date | Total FMO financing |
|---|---|
| 12/16/2022 | EUR 0.15 MLN |
- Region
- Latin America & The Caribbean
- Country
- Bolivia, Plurinational State of
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 8/6/2014
- End date
- 11/6/2018
- Total FMO financing
- EUR 0.11 MLN
- Funding
- MASSIF