Local Currency Microfinance Fund II

Equity : November 2013

BIO has invested USD 4 M in equity in LocFund II, an MFI fund providing midterm local currency loans to smaller MFIs in Latin America.

Amount

€ 3,031,680.00

Type of investment

Equity

Development impacts

  • Financial inclusion
  • Gender

Beneficiary locations

Latin America and Caribbean: Bolivia, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru

Investment field

Investment Companies & Funds

Activity

MFI Fund

Organisation

Local Currency Microfinance Fund II

Domicile

Canada

More investments in

Local Currency Microfinance Fund II

  • Debt € 725,111.00 (2014)
  • Subsidy € 113,688.00 (2014-2018)
  • Subsidy € 143,535.00 (2019)

Local Currency Microfinance Fund (Locfund) II is active in 15 countries in Latin America and the Caribbean and has a total fund size of USD 79 million. The fund is managed by Bolivian Investment Management Limited (BIM Ltd.), headquartered in La Paz (Bolivia) and local offices in Lima (Peru) and San José (Costa Rica). BIM has extensive experience and has managed seven investment vehicles so far.

The main purpose of Locfund II is to:

  • offer local currency-denominated debt instruments to microfinance institutions in Latin America and the Caribbean,
  • provide support, through its Technical Support Facility, for specific institutional development activities at selected MFIs and
  • stimulate Investee companies’ access to the local securities market by acting as underwriter for fixed income instruments issued by the MFIs.

Development impacts

  • Financial inclusion

    Locfund II is expected to improve the population’s access to financial services by providing funding in local currency to small MFIs.

  • Gender

    At least 50% of final clients are expected to be women, mainly in rural areas.

Made possible through this investment

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

Adicla

Guatemala

Microfinance

Adisa

Guatemala

MFI

Acceso Crediticio

Peru

MFI

Alternativa

Peru

Microfinance

AHSETFIN

Honduras

Microfinance

AMC El Salvador

El Salvador

Microfinance

AMC Honduras

Honduras

Microfinance

Apoyo Integral

El Salvador

Microfinance

Arariwa

Peru

Microfinance

ASEI

El Salvador

Microfinance

ASPIRE

Dominican Republic

Microfinance

Banco D-Miro

Ecuador

Microfinance

Banco Popular

Honduras

Microfinance

Comixmul

Honduras

Microfinance

Contactar

El Salvador

Microfinance

Credicampo

El Salvador

Microfinance

Credisol

Honduras

Microfinance

Diaconia

Bolivia

Microfinance

Espoir

Ecuador

Microfinance

F. Paraguay

Paraguay

Microfinance

FACES

Ecuador

Microfinance

Fafidess

Guatemala

Microfinance

FAMA

Nicaragua

Microfinance

Fama OPDF

Honduras

Microfinance

FDD

Dominican Republic

Microfinance

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.

Finca Nicaragua

Nicaragua

Microfinance

Fondesurco

Peru

Microfinance

Fubode

Bolivia

Microfinance

Genesis

Guatemala

Microfinance

IDH

Honduras

Microfinance

Impro

Bolivia

Microfinance

Inversiones Confianza

El Salvador

Microfinance

Insotec

Ecuador

Microfinance

Micredito

Nicaragua

Microfinance

ODEF

Honduras

Microfinance

Optima

El Salvador

Microfinance

Padecomsmcredito

El Salvador

Microfinance

Prisma HON

Honduras

Microfinance

Pro Mujer Bolivia

Bolivia

Microfinance

Pro Mujer Nicaragua

Nicaragua

Microfinance

Proempresa

Peru

Microfinance

Sembrar Sartawi

Bolivia

Microfinance

Share

Guatemala

Microfinance

Read impact and news about this project

Women continue to rise

Impact Story

Women continue to rise

03-05-2021

BIO has invested - through equity, loans and technical assistance - in the Local Currency Microfinance Fund II - LocfundII. This fund has, in turn, invested in Fundación Espoir.

Claudia Moreno is the Deputy Executive Director of Fundación Espoir. This is her story.

Read more

View more of our investments in this region

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

ProCredit Holding AG & Co. KGaA

Financial Institutions

ProCredit Holding AG & Co. KGaA

  3,000,000.00

  Ecuador

  16/12/2004

  Equity

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

Latam Growth Fund Ltd.

Investment Companies & Funds

Latam Growth Fund Ltd.

  3,665,000.00

  Colombia, Peru

  27/05/2008

  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

Interact Climate Change Facility

Investment Companies & Funds

Interact Climate Change Facility

  6,000.00

  India, Mongolia, Honduras, Côte d'Ivoire, Ghana

  23/02/2011

  Equity

Interact Climate Change Facility

Investment Companies & Funds

Interact Climate Change Facility

  10,000,000.00

  India, Mongolia, Honduras, Côte d'Ivoire, Ghana

  23/02/2011

  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

Banco para la produccion y la comercializacion SA

Financial Institutions

Banco para la produccion y la comercializacion SA

  3,362,807.00

  Paraguay

  06/03/2014

  Debt

Hidronormandia

Infrastructure

Hidronormandia

  8,460,000.00

  Ecuador

  13/01/2017

  Debt

TransAndean Early Stage Equity Fund LLC.

Investment Companies & Funds

TransAndean Early Stage Equity Fund LLC.

  3,752,000.00

  Bolivia, Brazil, Colombia, Peru

  09/06/2003

  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

Asociacion Hondurena de Instituciones Bancarias

Financial Institutions

Asociacion Hondurena de Instituciones Bancarias

  29,426.60

  Honduras

  18/12/2020

  Subsidy

Productora Cartonera Procarsa & Surpapelcorp

Enterprises

Productora Cartonera Procarsa & Surpapelcorp

  7,121,232.00

  Ecuador

  16/10/2020

  Debt

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

Sociedad de Ahorro y Crédito Apoyo Integral

Financial Institutions

Sociedad de Ahorro y Crédito Apoyo Integral

  8,733,600.00

  El Salvador

  28/10/2020

  Debt

Darby Latin American Private Debt Fund III

Investment Companies & Funds

Darby Latin American Private Debt Fund III

  8,570,582.00

  Brazil, Colombia, Dominican Republic, Ecuador, Peru

  01/08/2018

  Equity

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

Banco Popular

Financial Institutions

Banco Popular

  4,494,000.00

  Honduras

  19/12/2019

  Debt

Banco Solidario

Financial Institutions

Banco Solidario

  12,290.60

  Ecuador

  07/10/2019

  Subsidy

Banco Regional

Financial Institutions

Banco Regional

  13,718,675.69

  Paraguay

  27/05/2014

  Debt

Banco Pichincha

Financial Institutions

Banco Pichincha

  13,254,016.72

  Ecuador

  09/06/2016

  Debt

San Martin Hydro

Infrastructure

San Martin Hydro

  6,421,625.00

  Nicaragua

  04/10/2017

  Debt

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

Comercial Administradora S.A.

Financial Institutions

Comercial Administradora S.A.

  3,962,250.00

  Honduras

  03/12/2018

  Debt

Comercial Administradora S.A.

Financial Institutions

Comercial Administradora S.A.

  1,320,750.00

  El Salvador

  03/12/2018

  Debt

Comercial Administradora S.A.

Financial Institutions

Comercial Administradora S.A.

  3,522,000.00

  Guatemala

  03/12/2018

  Debt

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

Hidrosierra

Infrastructure

Hidrosierra

  19,650.60

  Ecuador

  24/06/2019

  Subsidy

Hidrosierra

Infrastructure

Hidrosierra

  5,240,160.00

  Ecuador

  24/07/2019

  Debt

Montecristi Solar FV SAS

Infrastructure

Montecristi Solar FV SAS

  14,230,155.00

  Dominican Republic

  02/11/2017

  Debt

Banco Popular

Financial Institutions

Banco Popular

  121,408.00

  Honduras

  18/09/2017

  Equity

Banco Popular

Financial Institutions

Banco Popular

  200,374.59

  Honduras

  29/04/2015

  Equity

Banco Popular

Financial Institutions

Banco Popular

  1,364,000.00

  Honduras

  17/05/2010

  Equity

Banco Popular

Financial Institutions

Banco Popular

  1,357,000.00

  Honduras

  07/12/2007

  Equity

Banco Continental S.A.E.C.A.

Financial Institutions

Banco Continental S.A.E.C.A.

  13,777,500.00

  Paraguay

  25/07/2016

  Debt

Banco D-Miro

Financial Institutions

Banco D-Miro

  4,372,500.00

  Ecuador

  14/10/2015

  Debt

Cooperativo Pacifico

Financial Institutions

Cooperativo Pacifico

  9,185,000.00

  Peru

  30/10/2017

  Debt

Acceso Crediticio

Financial Institutions

Acceso Crediticio

  8,521,516.83

  Peru

  04/10/2016

  Debt

Banco Visionfund Ecuador

Financial Institutions

Banco Visionfund Ecuador

  6,113,520.00

  Ecuador

  07/08/2019

  Debt

MSEF II

Investment Companies & Funds

MSEF II

  8,966,382.00

  Brazil, Colombia

  31/05/2019

  Equity

Banco Solidario

Financial Institutions

Banco Solidario

  8,338,200.00

  Ecuador

  27/06/2019

  Debt

Banco Solidario

Financial Institutions

Banco Solidario

  77,220.00

  Ecuador

  10/09/2012

  Subsidy

Banco Solidario

Financial Institutions

Banco Solidario

  5,987,000.00

  Ecuador

  15/05/2012

  Debt

Banco Guayaquil

Financial Institutions

Banco Guayaquil

  13,100,400.00

  Ecuador

  07/05/2019

  Debt

Bósforo

Infrastructure

Bòsforo

  14,230,155.00

  El Salvador

  25/01/2018

  Debt