Further expansion of ASN-Novib Fund

The ASN-Novib Fund, one of the five funds managed by Triple Jump, has executed debt investments totaling USD 6.5 million in four microfinance banks.

The largest amount, USD 2.5 million, went to Procredit Bank of Macedonia, a Macedonian bank founded in 2003 with a gross loan portfolio of USD 185 million. Procredit Bank of Macedonia’s parent organization, Procredit Holding, has 21 banking institutions worldwide with total assets of EUR 4.9 billion (equivalent to USD 6 billion).
Triple Jump also released USD 2.3 million to FINCA Azerbaijan, an MFI with a gross loan portfolio of USD 66.8 million. FINCA Azerbaijan’s parent organization, FINCA International, is a global microfinance network operating in 21 countries with total assets of USD 450 million as of 2008.
For further reading please go to MicroCapital.org.