Fondo de Desarrollo Local
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
Investment field
Financial Institutions
Activity
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.
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Subsidy
