Austria’s C-Quadrat Asset Management informed MicroCapital yesterday that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 63.5 million during December to unspecified microfinance institutions (MFIs) in countries including Ghana, Indonesia, Kenya, Mongolia and Sri Lanka. The names of the MFIs and the other countries in which they are located have not been released.
Of this total, USD 1.5 million, part in local currency, was disbursed to an Indonesian cooperative that was founded in 2009. Although it is based in Jakarta, it focuses on delivering group loans in rural areas. The MFI also offers financial education and voluntary savings, and it is piloting a loan product specifically for agriculture.