New investments
Our additions to the portfolio in 2017
Accesso Crediticio, Peru (new debt)
Accesso Crediticio provides automotive financing in Peru with a specialisation in compressed natural gas (CNG) taxi car financing. CNG-based vehicles are a cleaner and more efficient alternative to fossil fuels. The institution plays a strong role in financial inclusion, with 70% of its clients not having accounts at other financial institutions and 20% opening an account for the first time. The majority of the institution’s clients are independent low-income taxi drivers that otherwise would have limited options to own their vehicles.
The loan provided by Triodos Microfinance Fund and Triodos Fair Share Fund will enable Acceso to reach many more people in the future and contribute to a cleaner air quality in Lima.
ACLEDA MFI Myanmar (new debt)
Headquartered in Yangon, ACLEDA MFI Myanmar serves over 32,000 borrowers, mostly through group loans, from its branches in Yangon, Bago, and the Mon region. As part of ACLEDA Bank in Cambodia, ACLEDA MFI Myanmar inherits the parent company’s strong practice of responsible finance and the protection of the environment.
Triodos Fair Share Fund and Triodos Microfinance Fund have provided a loan to ACLEDA MFI Myanmar to increase its outreach.
Advans Cote d’Ivoire, Ivory Coast (new debt)
Advans Cote d’Ivoire is one of the largest microfinance institution in Ivory Coast, offering credit and savings products and other related financial services. Through its 14 branches, Advans serves over 13,000 borrowers, mainly in the trading sector. To support cacao farmers and cooperatives, Advans has pioneered the development of financial products for loans, savings, and trade finance.
Al Majmoua, Lebanon (new debt)
Triodos Fair Share Fund and Triodos Microfinance Fund have provided a loan to Al Majmoua, a leading microfinance institution in Lebanon. This institutions issues both individual and group loans to approximately 70,000 low-income individuals, largely micro entrepreneurs and women.
Its commitment to promoting sustainable development is amplified by its service to refugees through a refugee loan product that was designed in partnership with the International Rescue Committee (IRC) and based on the experience gained during a programme with the UN High Commissioner for Refugees (UNHCR). Currently 3% of its active borrowers are refugees, of which 89% are women.
Aye Finance, India (new debt)
Aye Finance focuses on serving micro, small and medium-sized businesses in manufacturing, trade, livestock, and service sectors that require working capital loans. The institution distinguishes itself by implementing a strong creditworthiness assessment method that allows them to serve clients with limited or no formal documentation. Aye Finance currently operates out of 39 branches across the country, with the majority in the north of India, serving 26,000 clients. Triodos Microfinance Fund and Triodos Fair Share Fund have provided a loan to Aye Finance.
Banco de la Produccion, Nicaragua (new debt)
Banco de la Produccion (Banpro) is the largest bank in Nicaragua and a leader in agricultural SME finance. The bank offers a diverse range of banking products and services and operates the largest number of bank branches in the country. Its green credit product has so far achieved energy and water savings equal to the consumption of 83,000 households and 3,250 households respectively through lending to energy efficiency, renewable energy, efficient irrigation, and water capturing system projects.
Triodos Fair Share Fund and Triodos Microfinance Fund have provided a loan to Banrpo to realise its growth ambition.
Banco De Desarrollo Rural Honduras (new debt)
Serving over 40,000 clients, Banco De Desarrollo Rural Honduras (BanRural) is a bank with a clear focus on reaching rural areas, particularly in sectors that are traditionally ignored by the financial sector. More than half of its loan portfolio is dedicated to financing the productive sector and micro, small, and medium-sized entrepreneurs.
Triodos Fair Share Fund and Triodos Microfinance Fund have provided a loan to BanRural.
Credisol, Honduras (new debt)
Credisol has a clear focus on serving the base of the pyramid, especially in the rural areas of Honduras, while caring for the environment. In line with Credisol’s mission to care for the environment they offer green products, specifically designed to finance solar panels and stoves that are less contaminating.
The loan provided by Hivos-Triodos Fund will enable Credisol to increase its outreach.
Fedecrédito, El Salvador (new debt)
Fedecrédito is a federation of financial cooperatives in El Salvador. Fedecrédito serves its 55 cooperative members by providing them with funding, supervision, training and consulting services. The institution reaches 934,000 low-to-mid income people and micro/small-entrepreneurs through its extensive network of branches, tellers, correspondents, and ATMs. The cooperatives offer diversified loans: working capital, agriculture, fixed asset, consumer, and credit card loans. In addition, they offer remittances and payment services as well as an array of insurance services (life, vehicles, damage). This includes a health care insurance which enables access to unlimited medical consultation for clients their families for a small fee of USD 2.25 per month.
Triodos Fair Share Fund and Triodos Microfinance Fund have provided a loan to Fedecrédito.
Grupo Factoring de Occidente, Colombia (new debt)
Grupo Factoring de Occidente (GFO) is a leading factoring company in Colombia. Through factoring, it allows small and medium-sized enterprises (SMEs) to sell their invoices at a discount to bigger companies. As a result, GFO relieves SMEs from the burden of managing collections, smooths their cashflows and allows them to focus on their core business. Environmental and social risk management systems are comprehensive, implemented both internally and in the credit process.
Triodos Microfinance Fund and Triodos Fair Share Fund have provided a loan to GFO.
Grassland Finance, China (new debt)
Triodos Microfinance Fund and Triodos Fair Share Fund have provided a loan to Grassland Finance, a holding company of microcredit companies (MCC) in China with 16 branches in four regions: Chifeng, Chongqing, Jishou, and Urumqi. They serve over 5,000 micro, small and medium-sized enterprises.
Grassland is a frontrunner in using technology to advance financial inclusion, with internet-linked tablet solutions to improve loan officers’ efficiency and using WeChat to ease customers’ loan application processes.
LOLC Myanmar (new debt)
LOLC Myanmar Microfinance Company is a microfinance institution established by the LOLC Group from Sri Lanka. The institution is following Grameen style group lending methodology while preparing to offer individual loans. It serves over 40,000 clients who are largely engaged in trading and service sectors, out of its 18 branches spread across three provinces in Southern Myanmar.
Triodos Microfinance Fund and Triodos Fair Share Fund have provided a loan to LOLC Maynmar to increase its outreach.
Mikrofin, Bosnia and Herzegovina (new debt)
Triodos Fair Share Fund has provided a loan to microfinance institution Mikrofin that operates with a mission to provide appropriate financial services to economically active low-income population to enable them make an income. The credit-only institution has a network of 72 offices covering most of the territory of Bosnia and Herzegovina with a focus on small agricultural loans in rural areas. It serves close to 60,000 clients.
National Microfinance Bank, Tanzania (new debt)
National Microfinance Bank (NMB) is the largest microfinance and SME finance bank in Tanzania, serving close to 400,000 loan clients and 2 million savers. The bank pioneered mobile banking in the country, being the first bank to offer mobile banking service in 2008. Growing its presence in the small and medium-sized enterprises (SMEs) and the agriculture sector segments is the bank’s next ambition.
Triodos Microfinance Fund and Triodos Fair Share Fund have provided a loan to NMB.
Opportunity Bank Serbia (new debt)
In 2017, Triodos Microfinance Fund and Triodos Fair Share Fund provided a first loan in Serbia, to Opportunity Bank Serbia (OBS). OBS stands out in the Serbian financial sector by focusing on people and businesses that are underserved by the mainstream banks: micro and small entrepreneurs, farmers, low-income employees and pensioners. The bank serves over 40,000 clients with a variety of financial products and services, including loans and saving accounts.
Bancro Promerica de Costa Rica (new debt)
Banco Promerica is an SME-focused bank known for its relation-based approach. It is the leading bank in green finance, with a focus on renewable energy projects, zero-emission vehicles, sustainable construction, and solar panels.
Triodos Fair Share Fund and Triodos Microfinance Fund have provided a loan to Banco Promerica to increase its outreach.
Sathapana Myanmar (new debt)
Established by Maruhan Group, the holding company of Sathapana Bank Cambodia, Sathapana Myanmar is a fast-growing microfinance institution that offers both group and individual loans. The institution operates out of eight branches, reaching over 40,000 clients that mainly operate small trading and agriculture business. Triodos Fair Share Fund and Triodos Microfinance Fund have provided a loan to Sathapana Myanmar.
Twiga Foods, Kenya (new debt)
Twiga Foods enables the distribution of fruits and vegetables directly from farmers to vendors in Nairobi, allowing the vendors to access these products at a lower cost and better quality than those they get from the informal markets. This is done through a mobile application and payment is done cashless using mobile money. Through its effective practices, Twiga Foods is able to reduce its food waste to 7%, while the average food waste in the food value chain is around 40%. The loan provided by Hivos-Triodos Fund enables Twiga Foods to invest in cooled storage capacity and to expand its activities.
Varthana, India (new debt)
Varthana is a financial institution with a focus in improving the access to quality education for children from low-income families through the provision of short and long-term financing to affordable private schools. In India, affordable private schools play an important role in serving children that have no access to public schools while also delivering the same or even better quality of education.
Triodos Microfinance Fund has provided a loan to Varthana to enable them to further the access to quality education in India.
VisionFund Lanka, Sri Lanka (new debt)
VisionFund Lanka is part of the VisionFund International Network. The institution, which received a loan from Triodos Microfinance Fund and Triodos Fair Share Fund in 2017, offers group loans to entrepreneurial women in rural areas. The average loan amount is EUR 229 which indicates that VisionFund targets the lower-end of the microfinance market.