Financiera FAMA, S.A.
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
Financiera FAMA is the second largest microfinance institution (MFI) in Nicaragua. FAMA was founded in 1991 by ten entrepreneurs with the aim of establishing and/or improving access to finance for micro-entrepreneurs in Nicaragua's urban areas. FAMA has been a client of FMO since 2007, when they transitioned from NGO to regulated MFI.
What is our funding objective?
FAMA will use the new facility to continue funding clients in underserved areas of Nicaragua. The objective of these funds is to extend access to finance for micro-, small- and medium-sized enterprises.
Why do we fund this investment?
FMO believes that stable access to finance for micro and small enterprises contributes to economic development. With this long-term financing FMO supports Financiera FAMA in its mission to extend access to small enterprises and contributes to the stability of the Nicaraguan financial sector.
What is the Environmental and Social categorization rationale?
The project has been categorised as Category C in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, Financiera FAMA will be required to apply the EDFI Exclusion List and Nicaragua E&S laws and regulations.
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| 2/1/2024 | USD 5.00 MLN |
| 12/20/2021 | EUR 0.07 MLN |
| 7/18/2017 | NIO 23.73 MLN |
| 7/18/2018 | EUR 0.16 MLN |
| 9/11/2020 | USD 6.00 MLN |
- Website customer/investment
- http://www.financierafama.com.ni/
- Region
- Latin America & The Caribbean
- Country
- Nicaragua
- Sector
- Financial Institutions
- Publication date
- 4/17/2019
- Effective date
- 7/8/2019
- End date
- 7/19/2023
- Total FMO financing
- USD 4.50 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C