Alterfin

Subsidy : August 2021

BIO has given 20,125 EUR Technical Assistance to Alterfin, a Belgian social investor to improve its ESMS capacities

Amount

€ 20,125.00

Type of investment

Subsidy

Beneficiary locations

Asia: Cambodia
Latin America and Caribbean: Nicaragua
Sub-Saharan Africa: Côte d'Ivoire, Kenya

Investment field

Investment Companies & Funds

Activity

MFI Fund

Organisation

Alterfin

Domicile

Belgium

More investments in

Alterfin

  • Debt € 3,000,000.00 (2020)
  • Equity € 250,000.00 (2002)

Alterfin is a Belgian financial cooperative created in 1994 which invests in smallholder farming in developing countries via microfinance institutions, small and medium enterprises (SMEs) and producer’s organisations. Alterfin’s goal is to improve the livelihoods and living conditions of socially and economically disadvantaged people and communities, predominantly in rural areas in low and middle-income countries.

Active in 31 countries with 5 regional offices, Alterfin has currently a 55% exposure of its portfolio in Latin America, 21% in Africa and 23% in Asia. Alterfin is particularly committed to finance the “missing middle” by offering smaller loans on shorter terms.

Technical Assistance

Upgrading and Implementing an Environmental and Social Management System

Having a well-functioning and upgraded ESMS in line with BIO standards, including the procedures and practical tools that ensure integration of E&S management in the existing credit procedure and risk management system

Expected impact

  • Every credit transaction will be screened through an efficient E&S management system. It will improve the E&S risk mitigation and will provide guidance to improve E&S practices of Alterfin’s portfolio companies.
  • It could also reduce reputational risks by identifiying potential E&S failure before realizing the investment into the company.
  • Furthermore, the TA project aims to provide Alterfin an understanding of the business-case of E&S management, and that they receive training on how to apply the E&S procedures and tools throughout the investment cycle

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

Chamroeun

Cambodia

Chamroeun is a microfinance institution (MFI) in Cambodia. It grants micro-loans to about 50,000 people, 85% of whom are women. Chamroeun targets the most disadvantaged and issues tiny micro-loans: the average loan is EUR 160.

Divisoria

Peru

The Divisoria Coffee Producers' Cooperative offers fair-trade and organic cocoa and organice fertilisers.

Ecookim

Côte d'Ivoire

This union of eight Ivorian cocoa cooperatives numbers more than 2,800 farmers. The main target of Ecookim is selling cocoa beans along with its mission to increase farmers' incomes and improve the position of small farmers in the cocoa sector. The organization groups its purchases of inputs (fertilizers, pesticides, bags, etc.) and services (transport, treatment plant, etc.). The union also provides operational support to cooperatives and technical assistance to producers.

Vert Ltd

Kenya

Vert is a Kenyan business that exports fresh fruit and vegetables to Europe. Vert has introduced a more sustainable model, working directly with small, local farmers who are organised in small groups. Vert provides farmers with technical assistance to improve the quality of their products and ensure that they are better equipped to deal with any problems that arise. Finally, Vert takes care of the ‘fair trade’ and ‘global gap’ certification (standard criteria for exporting fresh fruit and vegetables to Europe) for the products it exports.

FDL

Nicaragua

‘Fondo para el Desarrollo Local’ , or FDL, is a Nicaraguan microfinance institution (MFI) that has been granting since 1997 microcredit facilities in rural areas where there were no financial services available to the local communities. FDL’s clients are small businesses, small traders and service providers, mainly run by women (54%) living in rural areas.

Musoni

Kenya

Read impact and news about this project

EDFI AgriFI and BIO contract €6M with Alterfin

News

EDFI AgriFI and BIO contract €6M with Alterfin

17-08-2020

EDFI AgriFI and BIO each commit to finance the equivalent of EUR 3 million in USD to reinforce Alterfin’s sustainable agriculture and microfinance portfolios. The combined investment will provide Alterfin with long-term financing to support its expansion in Africa, Latin-America and Asia. The financing from BIO will likely also be accompanied by technical assistance, a first for Alterfin.

Read more

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