Fondo de Desarrollo Local

Debt : May 2021

BIO has granted a EUR 2 M loan to Financiera FDL, a microfinance institution in Nicaragua, focused mainly on MSMEs.

Amount

€ 2,000,000.00

Type of investment

Debt

Development impacts

  • Local economic growth
  • Financial inclusion

Beneficiary locations

Latin America and Caribbean: Nicaragua

Investment field

Financial Institutions

Activity

Microfinance Institution

Organisation

Fondo de Desarrollo Local

Domicile

Nicaragua

More investments in

Fondo de Desarrollo Local

  • Debt € 3,674,000.00 (2017)
  • Debt € 3,031,680.00 (2013-2017)

FDL is a leading MFI in Nicaragua with 22% of market share.

The institution was created in 1997 with a focus on micro and small enterprises in rural areas. It is a non-deposit-taking institution offering credit, insurance, and payment services to more than 45,500 clients (49% women) with an average loan size of USD1,250.

FDL has been BIO’s client since 2013, supporting the institution with two loans with the objective to finance its loan portfolio growth, first, as an NGO and second, in 2016 during its transformation into a regulated institution as a Financiera.

The purpose of this new facility is to support FDL to continue accompanying its clients, as well to contribute to the stability of the Nicaraguan financial sector.

Development impacts

  • Local economic growth

    Support the growth of MSMEs (45,500 active clients) that are key drivers for local economic activity, jobs creation and poverty alleviation, by providing access to banking services for highly underserved micro and SME segment (66% of GLP). The remaining balance is mainly destined for housing and consumer activities.

    FDL is the largest MFI in Nicaragua that contribute to consolidating the microfinance and NBFI industry in Nicaragua;

  • Financial inclusion

    Strong focus on microentrepreneurs, smallholder farmers and disadvantaged women. Loans for microentrepreneurs represent 55% of GLP and women 49%.

    Non-financial services such as technical assistance and training for end borrowers.

Read impact and news about this project

An impact on families

Impact Story

An impact on families

22-01-2020

BIO has given 2 loans of USD 4 M to FDL, a Nicaraguan MFI.

Mr Julio Flores Coca is the Vice President of FDL. This is his story

Read more

View more of our investments in this region

Alterfin

Investment Companies & Funds

Alterfin

  20,125.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  03/08/2021

  Subsidy

Local Currency Microfinance Fund II

Investment Companies & Funds

Local Currency Microfinance Fund II

  3,031,680.00

  Bolivia, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru

  11/11/2013

  Equity

Local Currency Microfinance Fund II

Investment Companies & Funds

Local Currency Microfinance Fund II

  725,111.00

  Bolivia, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru

  05/06/2014

  Debt

The Currency Exchange Fund n.v.

Financial Institutions

The Currency Exchange Fund n.v.

  7,091,000.00

  Bangladesh, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Vietnam, Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Syria, Tunisia, Palestinian Territories, Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia

  05/09/2007

  Equity

Consorcio Eólico Amayo (fase 2), S.A.

Infrastructure

Consorcio Eólico Amayo (fase 2), S.A.

  6,686,000.00

  Nicaragua

  11/10/2010

  Debt

CoreCo Central America Fund I LP

Investment Companies & Funds

CoreCo Central America Fund I LP

  3,210,320.00

  Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua

  28/06/2012

  Equity

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  105,000.00

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  11/09/2018

  Subsidy

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  5,438,332.50

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  18/06/2015

  Equity

Local Currency Microfinance Fund II

Investment Companies & Funds

Local Currency Microfinance Fund II

  113,688.00

  Bolivia, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru

  25/06/2014

  Subsidy

Local Currency Microfinance Fund II

Investment Companies & Funds

Local Currency Microfinance Fund II

  143,535.00

  Bolivia, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru

  28/01/2019

  Subsidy

Alterfin

Financial Institutions

Alterfin

  3,000,000.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  15/07/2020

  Debt

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  350,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  07/04/2020

  Subsidy

Polaris Energy Nicaragua

Infrastructure

Polaris Energy Nicaragua

  8,091,000.00

  Nicaragua

  01/11/2010

  Debt

Fondo de Desarrollo Local

Financial Institutions

Fondo de Desarrollo Local

  3,674,000.00

  Nicaragua

  16/05/2017

  Debt

Fondo de Desarrollo Local

Financial Institutions

Fondo de Desarrollo Local

  3,031,680.00

  Nicaragua

  14/10/2013

  Debt

San Martin Hydro

Infrastructure

San Martin Hydro

  6,421,625.00

  Nicaragua

  04/10/2017

  Debt

Alterfin

Investment Companies & Funds

Alterfin

  250,000.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  13/12/2002

  Equity

EcoEnterprises Partners III

Investment Companies & Funds

EcoEnterprises Partners III

  6,208,300.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Nicaragua, Paraguay, Peru

  22/05/2019

  Equity

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  3,000,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  24/10/2019

  Equity