ABC Fund Injects $3 Million into Microfinance Lending in Colombia
The Agri-Business Capital Fund (‘ABC Fund’) today announces that it has completed a USD 3 million loan to Colombia-based Finamiga, which focuses on lending to small farmers and independent workers.
The lending brings the Fund’s total number of investments to 23 companies worldwide, as it continues its missions to tackle poverty, improve the lives and livelihoods of smallholder farmers and increase opportunities for women and young people.
Established in 2014, Finamiga has been the fastest growing microfinance institution in Colombia for the past two years. Operating in 146 municipalities, among which 38 are post-conflict zones, it has disbursed more than 30,000 loans, and has and outstanding gross portfolio of over USD 13 million distributed in more than 10,000 active clients.
Source: Finextra (link opens in a new window)