Incofin Climate-Smart Microfinance Fund (ICMF)
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“Incofin keeps its word when it comes to their commitments. We are very grateful for this trusted partnership.”
Incofin is an active investor. We go beyond just providing capital – we work with our investees through their challenges and collaborate with them towards value creation. This is why Incofin refers to itself as “committed beyond investment”. We assist our clients before, during and after the investment as we provide advice, expertise and, where appropriate, Technical Assistance.
We are a hands-on investor, a “co-pilot” for the institutions we support. We share and encourage the entrepreneurial drive of our investees. We support, help develop and improve the performance of their businesses by sharing expertise that we have gathered from our years of global field experience. With more than 30 equity investments including a strong exit track record, we are proud to say that we have helped build and support solid institutions serving millions of clients globally.
“We believe Incofin provides a level of oversight and support that is crucial to AMK’s continued progress. Its imprint on AMK strategy is therefore quite clear and much appreciated by all stakeholders.”
Risk capital is the core of Incofin’s investment activities. We have an exceptional track record in providing debt and quasi-equity financing to over 300 investees across 65 countries.
We recognise that the nature of our business exposes our portfolio to various types of risks and we seek to minimise these through a combination of portfolio diversification, hedging instruments, insurance policies and strict due diligence processes. The average annual loan loss rate over the total loans disbursed is 0.04%, demonstrating the debt team’s ability to develop a high quality portfolio over a sustained period of time.
Smallholders represent 70% of the world’s poor and contribute more than 80% of total food production on our planet. Yet they are severely financially underserved due to market breakdowns and challenges in the value chain structures of smallholders. Because of this, agri-finance is central to Incofins long term vision.
At Incofin, we are addressing these big challenges by providing risk capital to sustainability focused producer cooperatives and agro SMEs. With a strong investment track record diversified across 14 countries and 10 different crops, the agrofinance portfolio has provided more than 48m USD in financing to smallholder farmers. Our dedicated investment team oversees a balanced portfolio of 36 clients serving local food chain systems as well as global food demands for exported products.
Technical Assistance is an important part of Incofins Capital Plus approach, whereby in addition to direct investments, Incofin provides tailored capacity building to its investees across funds and geographies.
We continuously work to mobilise donor funding to implement tailored, high quality capacity building programs that respond to the real needs of our investees. We work with a well-established network of service providers to ensure our clients get the right expertise and support. We continuously monitor the project development, evaluate results and measure impact for investees and for end clients.
“Through Technical Assistance, we seek to improve the living conditions of small entrepreneurs in developing countries.”
Fund type Debt
Fund duration 2024 – evergreen
Investment focus Climate-smart financial institutions
Fund status Open for investment
Dedicated to mitigating the social impacts of climate change, the Incofin Climate-Smart Microfinance Fund stands at the forefront of responsible investing. By partnering with reputable financial institutions, the fund is poised to champion climate-smart initiatives while promoting financial inclusion.
With a bold vision, the fund plans to deploy USD 550 million towards climate-smart activities, targeting an expansive yet underserved market. Through strategic investments, it aims to directly benefit 1.5 million individuals, empowering communities to adapt and thrive in the face of environmental challenges.
Fund type Debt
Fund duration 2012 – evergreen
Investment focus Agricultural traders, Agricultural producers, Financial intermediaries (limited)
Fund status Open for investment
The Fairtrade Access Fund aims to contribute to the development of a fair and sustainable agriculture sector. It addresses the financial and technical assistance needs of smallholder farmers by bridging the gap in working capital and providing long term financing.
Fund type Private Equity
Fund duration 2023-2030
Investment focus Safe drinking water
Fund status Open for investment
The blended fund aims to provide 20 billion liters of water to 30 million people, mainly in Africa and Asia. W2AF invests in innovative water businesses that provide affordable, safe drinking water to underserved populations.
Fund type Equity
Fund duration 2021 – 2031
Investment focus Indian agri food value chain and financial inclusion for rural India
Fund status Open for investment
The Incofin India Progress Fund is Incofin’s first country focused fund and will target financial inclusion of the underserved/underserviced end customer and sustainable development of the food and agricultural value chain in rural India. The fund invests in scalable companies with high social performance management practices that also generate a positive and measurable impact for their end clients.
Fund type Debt
Fund duration 2024 – evergreen
Investment focus Nutritious food in Sub-Saharan Africa
Fund status Open for investment
Dedicated to combating malnutrition and food insecurity in Sub-Saharan Africa, the Nutritious Foods Financing Facility Fund (N3F) stands at the forefront of impactful investing. By partnering with a reputable organization such as GAIN, with cornerstone investors such as USAID & SDC, the fund is poised to transform the nutrition landscape in Sub-Saharan Africa while promoting sustainable development.
N3F supports the production and distribution of nutritious foods, targeting an expansive yet underserved market. Through strategic investments in small and medium-sized enterprises (SMEs), it aims to directly benefit over 7 million lower-income individuals, providing over 514 million additional servings of nutritious food and empowering communities to lead healthier lives.
Fund type Debt
Fund duration 2020-2025
Investment focus Agricultural traders, Agricultural producers, Financial intermediaries (limited)
The ALF supports systemic actors of the sustainable agri-food value chains to enable their operation during and after the Covid-19 crisis.
Fund type Equity and debt, co-op fund
Fund duration 2001 – evergreen
Investment focus Financial intermediaries (institutions providing financial services and products such as microfinance products, MSME financing, affordable housing financing, educational finance, leasing, payment services, etc.)
Fund status Open for investment
Incofin CVSO specialises in debt and equity investments in sectors generally accepted to belong to the impact investments universe. The area of Financial Inclusion is the one where CVSO built up most experience and where a continued focus will lie. Furthermore, Incofin CVSO can make (direct and indirect) investments in companies (including SME’s) that pursue relevant impact objectives at the base of the pyramid in the areas of Food & Agriculture, Energy, Housing, Healthcare or Education. It is a cooperative fund and open to retail investors.
Fund type Closed end equity and debt fund
Duration 2010 – 2020
Investment focus Financial intermediaries, Rural areas
Rural Impulse Fund II (RIF II) is the successor of RIF I and invests in microfinance institutions that offer financial services in disadvantaged rural areas through debt and equity investments. RIF II focuses on investments in Africa, Asia, and Latin America.
Fund type Closed end equity and debt fund
Duration 2015 – 2024
Investment focus Financial intermediaries, Agricultural sector, Rural institutions
agRIF is a third generation fund, following on Rural Impulse Fund I and Rural Impulse Fund II, which also used closed-ended, leveraged private equity structures to support investments in financial inclusion for the rural sector. agRIF takes this model one step further by specifically targeting the agricultural sector and smallholder farmers, as well as rural micro-entrepreneurs. In addition to the equity investments targeted by the fund, agRIF provides debt investments in agricultural SMEs and agricultural focused financial intermediaries.
Microfinance Enhancement Facility (MEF) was initiated in 2009 by KfW Entwicklungsbank (“KfW”) and International Finance Corporation (“IFC”), a member of the World Bank Group as a joint intiative with OeEB (the Development Bank of Austria). Incofin IM is an Investment Advisor to the fund. MEF supports economic development and prosperity globally through the provision of additional development finance to micro-enterprises, via qualified financial institutions. In pursuing its development goal, MEF observes principles of sustainability and additionality, combining development and market orientations.
The IIV Mikrofinanzfonds by the Impact Asset Manager Invest in Visions (IIV) is Germany’s first microfinance fund for retail and institutional investors, specializing in financing sustainable investments. The fund provides loans to microfinance institutions in developing and emerging countries. Invest in Visions has contracted Incofin Investment Management (Incofin IM) to provide Professional Investment Services to identify, screen, structure, execute and monitor its investments.
Incofin IM has been an advisor to the IIV Mikrofinanzfonds since 2015.
BRS Microfinance Coop Fund is a Belgian cooperative fund that supports microfinance and micro insurance in order to sustainably improve the quality of life of the poorer population in the Global South. BRS Microfinance Coop Fund was launched in 2016 by BRS, CERA and KBC Group.
Incofin IM has been an advisor to BRS Microfinance Coop Fund since 2016.
FPM promotes financial inclusion in DR Congo by supporting financial institutions that target MSMEs and low-income working populations. It is composed of two entities: FPM SA which is dedicated to refinancing and the FPM ASBL, which technical assistance to financial institutions financing MSMEs. FPM was established in 2007 at the initiative of UNDP and UNCDF, in close collaboration with the Government of DR Congo.
Incofin IM has been an advisor to FPM SA since 2014.
Fund type Closed end equity and debt fund
Duration 2007 – 2017
Investment focus Microfinance institutions, targeting end customers in disadvantaged rural areas
Rural Impulse Fund I (RIF I) specialised in providing loan and equity to rural microfinance institutions and the rural poor. Its portfolio included countries in Africa (with a focus on Sub-Saharan Africa), Latin America, Central Asia, the Caribbean, Central and Eastern Europe, India and South East Asia.
3 equity and 113 debt investments made over the lifetime of the fund.
Equity investments & returns: Gross IRR equity portfolio 19,4% USD.
Fund type Closed end equity and debt fund
Duration 2004 – 2016
Investment focus Later stage investments in microfinance institutions
The Impulse Microfinance Investment Fund supported microfinance institutions at a later growth stage (Tier I and Tier II). Its portfolio included countries in Africa, Latin America, Newly Independ States, South-East Asia and East Asia.
5 equity and 139 debt investments made over the lifetime of the fund.
Equity investments & returns: Gross IRR equity portfolio 12,6% USD
Country India
Fund agRIF
Year 2017
Sohan Lal is a market disrupter in the agricultural value chain. Through the use of technology, it offers innovative logistic and financial solutions to smallholder farmers and SMEs. With a coverage of 20 Indian states and 29 locations in Myanmar, Sohan Lal operates over 2,500 warehouses and manages over 600 different commodities.
Country India
Fund agRIF
Year 2017
One of the largest banking Business Correspondent in India, disrupting traditional banking services via its process oriented and tech-enabled systems. With a focus on the rural and most financially excluded segments of society, SAVE services 24 India states and contributes to ~11m rural employment opportunities. agRIF is the sole series A-investor.
Country Pakistan
Fund RIF II
Year invested 2012
Khushhali is the leading Micro Finance Bank providing financial services to Micro, Small and Medium Enterprises and low income households across Pakistan. Its objective is to be a commercial based microfinance institution, by establishing a sustainable platform of financial services to the poor accompanied with retail delivery mechanisms. RIF II is part of the controlling shareholder consortium of the bank.
Country India
Fund RIF II
Year invested 2010
Fusion is a 100% women client based micro-credit and life insurance company, servicing those living in India’s rural and semi-urban areas. Through its products, Fusion promotes economic opportunities to transform the quality of the lives of the most underserved. Fusion has coverage in 13 states, 184 districts and extends to 39,245 villages. RIF II was the sole series A-investor.
Country India
Fund agRIF
Year 2017
Faircent is the #1 peer to peer lending platform in India, utilising technology and proprietary processes to make credit accessible to more people, easier, faster and fairer. It has coverage in 32 Indian states and targets the borrower segment who are not be serviced by traditional banks. agRIF is a series B-investor.
Country Haiti
Fund CVSO
Year 2009
ACME is one of the most prominent microfinance institutions in Haiti. It is a social and sustainable institution that focuses on small entrepreneurs in rural areas and targets the most vulnerable people in Haiti. Most branches of ACME are located in the rural regions. CVSO was the first institutional investor in ACME.
Country Tanzania
Fund CVSO
Year 2003
Akiba Bank caters to the banking needs of the poorest of Tanzanians, who are unbanked and not served by the large commercial banks. Its customers include college students, entire families, home owners, business owners, as well as private operations, who are serviced across its 14 branches.
Country El Salvador and Guatemala
Fund Impulse
Year 2010
Apoyo Integral is dedicated to providing accessible financial products and services that facilitate the socio-economic inclusion of people who lack access to the benefits of the country’s growing economy.
Country Armenia
Fund RIF II
Year 2012
Ararat Bank provides various banking products and services to commercial and retail customers primarily in the Republic of Armenia. Among its many products, it offers bank, escrow, social package, and unallocated bullion accounts. Ararat bank also offers term and accumulative deposits and other deposits products. Arat Bank has 47 branches in Yerevan and the regions.
Country Kazakhstan
Fund RIF II
Year 2012
Arnur Credit is one of the few microfinance institutions that provides financial services in order to support the development and growth of small business in rural areas of South Kazakhstan. The work of Arnur Credit is aimed at raising the living standards of the rural population and the improvement of its social status in modern society. It has 43 branches, 33 of which are located in rural areas.
Country Tajikistan
Fund RIF II
Year 2014
Arvand provides loans with no pledge, allowing low-income families and micro-entrepreneurs to increase their income and improve living standards. Other services offered by Arvand include deposit accounts, remittances, currency exchange and cash management services. Along with financial services Arvand also provides non-financial services such as trainings and consultations. Arvand has over 90 service points throughout Tajikistan.
Country Georgia
Fund agRIF
Year 2016
Crystal is a dynamic organisation catered to supporting development of micro and small business sectors in Georgia via financial inclusion. Crystal offers a wide range of high quality services including but not limited to agro loans, housing and consumption loans, currency exchange services, remittances and utility payment services. Over a third of the company’s portfolio targets those in rural areas.
Country Paraguay
Fund RIF II
Year 2014
Financiera El Comercio is a lending-financing institution, focusing on providing a range of services to rural and agricultural operations, as well as clients in urban areas in Paraguay. Its products include a range of farm credit solutions for activities including but not limited to operating capital, fixed assets, land, machinery, and irrigation system needs. Financiera El Comercio also provides personal loans, housing financing, car loans, and lending solutions to associations.
Country Uganda
Fund RIF II
Year 2013
Finance Trust Bank offers a broad range of financial solutions, including loans, deposit accounts, money transfer services, utility bills collection and insurance services to small and medium income people companies, SMEs, institutions and individuals. It operates a network of 36 branches. 70% of the bank’s branches are located in rural areas.
Country Nicaragua
Fund RIF II
Year 2014
Financiera Fundeser provides financial products and services to disadvantaged families living in rural areas of Nicaragua. It has a strong social focus and operates through a network of over 27 branches in 20 municipalities.
Country Kenya
Fund RIF II
Year 2014
KWFT is the sole womens bank in Africa, with deep penetration into remote, rural and peri-urban areas to ensure that women gain financial inclusion to uplift their living standards. With over 800,000 clients across Kenya, KWFT has invested in a vast branch network with over 245 offices spread out across 45 out of the 47 countries.
Country Peru
Fund CVSO
Year 2004
Financiera ProEmpresa is strongly focused on the underserved areas in Peru. It has a diverse produce range, including credit, debt, deposits and savings, with plans to offer agricultural loans and insurances. It operates 26 agencies, 4 special offices, 13 shared offices (with Banco de la Nación) and 14 information offices.
Country USA
Fund CVSO
Year 2008
MFX is a socially-oriented company that supports impact investing in emerging markets globally, with affordable hedging products and risk management education. By offering more local currency investments, the burden of the currency risk on the financial institution and the micro-entrepreneur is reduced. Over the years MFX has provided hedging for over 1.7 billon of USD. Incofin CVSO is a co-founder of the enterprise.
Country Colombia
Fund RIF I
Year invested 2009
Year of exit 2017
Crezcamos a leading rural microfinance institution providing financial products and services to MSME entrepreneurs. Incofin made its first equity infusion in 2009 when Crezcamos was a microfinance institution in its early stages. At the time of closing, Crezcamos was one of the leading rural microfinance institutions in Colombia in terms of profitability and social performance, managing a loan portfolio of COP 260,000 million (approx. USD 90 million) and providing financial products and services to more than 110,000 micro and small entrepreneurs in Colombia, through a network of over 60 branches.
Key achievements:
Crezcamos | Pre | Post |
Borrowers | 5.205 | 104.175 |
Personnel | 49 | 1.122 |
Branches | 3 | 63 |
Exit:
In May 2017 Rural Impulse Fund and Rural Impulse Fund II, both funds managed/advised by Incofin IM, jointly sold their entire 55.2% participation in Crezcamos, via a MBO transaction to the founder and general manager of the company, Mauricio Osorio.
Country Bolivia
Fund CVSO
Year invested 2007
Year of exit 2016
Banco FIE is one of the leading banks in Bolivia, with core activities in micro-lending, savings products, money transfers, social security payments, tax coverage, and facilitation of remittances. It contributes to the improvement of the economic conditions in rural zones, by promoting food security and sovereignty for the Bolivian people.
Key achievements:
Exit:
In September 2016 Impulse Microfinance Investment Fund, a fund advised by Incofin IM, sold its entire participation in the Bank, while Incofin cvso, another fund advised by Incofin IM, sold just under approximately half of its 10.5% in Banco FIE to other shareholders of the Bank.
Country Cambodia
Fund RIF II
Year invested 2013
AMK is one of the largest and most recognised rural servicing finance institutions in Cambodia. AMK works with over 524,000 clients, is known for its deep rural outreach, high levels of client satisfaction, flexible product offerings and high operational efficiency. It has evolved from a credit-heavy MFI to a more complete bank for the poor that now offers deposits and remittances at competitive rates.
Country Peru
Fund CVSO, Volksvermogen, RIF
Year invested 2003
Year of exit 2017
Financiera Confianza operates as a financial institution and offers SME and agricultural credit services, property services, personal and mortgage loans, savings products, CTS account, time deposits and insurance products. Today Financiera Confianza has a nationwide coverage and almost half a million customers.
Key achievements:
Incofin IM has played a key role in:
Financiera Confianza | Pre | Post |
Borrowers | 4.900 | 220.000 |
Depositors | 0 | 450.000 |
Branches | 4 | 149 |
Loan portfolio USD Mn | 8 | 500 |
Personnel | 40 | 2.137 |
Exit:
In May 2017 all 3 funds advised by Incofin IM made a full exit via a share sale to the majority shareholder of the company,which is a strategic investor that was brought on board in 2011.
Country India
Fund RIF II
Year invested 2012
Year of exit 2014
Annapurna offers financial and technical support to low income households, strengthening their entrepreneurial skills for efficient undertaking of business activities.
Key achievements:
Annapurna | Pre | Post |
Borrowers | 51,605 | 977,054 |
Branches | 30 | 264 |
Loan portfolio USD Mn | 6 | 177 |
Exit:
Successful partial exit in October 2016, by way of secondary sale to Women’s World Banking Capital Partners.
Country India
Fund Impulse
Year invested 2009
Year of exit 2014
Grameen Koota was born out of the need for timely and affordable credit to India’s poor and low-income households. It offers collateral-free loans as well as other services to women from poor and low-income households. These loans help the clients raise their standard of living and consequently help break themselves and their families out of poverty. It has coverage in 5 Indian states and services 1.8 M customers.
Key Achievements:
Grameen Koota | Pre | Post |
Borrowers | 117,747 | 1,864,424 |
Branches | 51 | 440 |
Loan portfolio USD Mn | 13 | 606 |
Exit:
In March 2014, fully exited by way of secondary sale to a strategic operator Microventures (now CreditAccess Asia).
Country India
Fund RIF I
Year invested 2008
Year of exit 2014
Asomi provides financial assistance to develop the economically weaker and underprivileged section of society. Via its loan products, it enables access to safe drinking water and water for agricultural purposes. Servicing the North Indian state of Asam, Asomi’s coverage spans over 20 districts and over 2,000 villages.
Country Burkina Faso
Fund CVSO
Year invested 2009
Year of exit 2022
ACEP Burkina is the second-largest microfinance institution in Burkina Faso by portfolio size (Gross loan portfolio of EUR 41.7 million as of December 2021) and offers a broad range of financial solutions, including loans, deposit accounts, money transfer services to SMEs, institutions and net-worthy individuals. The company serves over 32,000 customers. ACEP’s main focus are micro, small and medium enterprises.
Country India
Fund RIF II
Year invested 2011
Year of exit 2016
Arman Financial Services enables access to financial solutions via vehicle finance and microfinance products, enhancing the lives of those in overlooked geographies. It provides affordable financing with simple, no-hassle loan products.
Key Achievements:
Arman | Pre | Post |
Borrowers | 13,643 | 131,054 |
Branches | 8 | 93 |
Loan portfolio USD Mn | 7 | 29 |
Exit:
In July 2016, fully exited via an open (public) market sale which was led by Reliance Mutual Fund.
Country Peru
Fund RIF II
Year invested 2012
Year of exit 2016
EDPYME Solidaridad is a financial institution providing financing to entrepreneurs of small enterprises in Peru. It has a strong and genuine rural outreach, servicing the poorest of the country who are often overlooked by traditional financial institutions due to the higher costs of implementation.
Key achievements:
Consistent growth in terms of both portfolio and # of clients; this growth was achieved while keeping a significant participation of female clients and high rural outreach
EdPyme Solidaridad | 2012 | 2016 |
Portfolio value (USDm) | $ 84.70 | $ 114.80 |
# Customers | 21647 | 25376 |
Branches | 14 | 24 |
Country Rwanda
Fund RIF II
Year 2012
Unguka Bank is a dynamic microfinance bank that was founded by a group of local university students. Unguka serves more than 30,000 clients and operates through 18 branches and 2 outlets. It is present in 3 provinces, as well as Kigali City and 13 districts.
Country Bolivia
Since its origins in the 90s, as an NGO, Crecer has kept its mission and values aligned to reaching customers with microcredit products for productive purposes.
Crecer combines credit services with trainings on financial management and family finance administration.
Country Ecuador
Client since 2005
Banco Solidario aims to contribute to the development and quality of life of micro-entrepreneurs and salaried workers. It was the first bank in Latin America to be specialised in microcredit with 100% private capital, as well as the first in Ecuador to focus exclusively in this type of financial operation. Banco Solidario has been recognised as a clear innovator in microfinance due to its methodology, evaluation practices and risk management tools. It has disbursed USD 8.5b in productive and consumption microcredit loans to over 500,000 micro entrepreneurs and 1.3m salaried workers.
Country Burkina Faso
Client since 2017
Fidelis Finance is a leader in the financial leasing sector in Burkina Faso. Its operations specialise in financing the ‘missing middle’ of MSMEs, especially financing the productive equipment of companies. The Burkinabè company, which started its activities in 1998, controls over 70% of the market. Over the past twenty years, Fidelis Finance has expanded its product offerings to include not only equipment loans, but also lease credits, long term rentals, market caution and specialty loans.
Country Congo DRC
Client since 2015
ProCredit Bank aims to facilitate access to banking services for all, by financing Congolese businesses with a full range of innovative and adapted services. The institution promotes the culture of saving and a sense of responsibility that can help bring greater stability and security to ordinary households.
Country Kazakhstan
Client since 2006
Kazmicrofinance is one of the prominent leaders in microfinance in Central-Asia. The institution serves rural and urban micro entrepreneurs, with a focus on women and rural areas. Kazmicrofinance has a network of 12 offices in the economically most active regions of the country. From its strategy to provide financial services throughout Kazakhstan, KMF also established 21 branches in remote rural areas. Through its network, the institution offers various types of loans, including group loans, corporate loans and agricultural credits. The SMART campaign recognized the KMF approach as an example for other MFIs worldwide.
Country Colombia
Commodity Coffee
Certificates
Established in 1961 DelosAndes Cooperativa groups over 3,600 members of which more than 75% hold less than 5 ha. It is among the top coffee exporters in Colombia and it is one of the most innovative organizations in terms of members´ services, risk management and technology.
Country Brazil
Commodity Honey
Certificates
Casa Apis refers to the “Apiculture Cooperatives Center of the Brazilian Semi-Arid”, and uses principles of organic production, focusing on promoting the care for the environment. It promotes productive chains involving poor populations including family farmers via an innovative business model. Casa Apis has a strong impact in the development of Brazilian Semiarido region, not only through the honey business but also through the implementation of social projects in the 30 municipalities that compose the area of influence. Over 7800 families benefit from Casa Apis operation.
Country Cote d’Ivoire
Commodity Cocoa
Certificates
Ecookim is a union of 23 cooperatives that purchases, processes and exports cocoa beans from around 12,000 smallholder farmers (< 5ha per producer) in the Ivory Coast. It is the leading Fairtrade exporting organisation in the country (among the top 5 exporters of cocoa), with 41,436 hectares of cocoa sustainably cultivated with strict controls to guarantee a positive social and environmental impact. Ecookim has created over 200 permanent jobs with standards above local legal requirements.
Country Uganda
Commodity Coffee
Certificates
ACPCU is a coffee processer and exporter, 100% owned by over 8,650 smallholder farmers across 20 cooperatives. ACPCU is directly involved with the improvement of quality of life for its members and actively participates in community outreach projects. ACPCU also offers a wide variety of farmer capacity building programs such as educating in good agronomical practices and natural resource management.
Supports Incofin cvso investees and potential investees in improving their overall development with regard to financial, managerial and operational performance, as well as in maximising their impact in improving the living conditions of small entrepreneurs in developing countries. Since 2010, Incofin cvso has supported 14 projects with 17 investees in 11 countries.
Helps existing and potential FAF investees in addressing the challenges related to agricultural finance. With USD 1.1 million in secured donor funding, FAF TAF has supported 12 projects in 7 countries, as well as regional and global initiatives since 2015. The scope of the TA services includes improvement of the organisational, social and environmental performance of the FAF investees, improving the productivity and quality of smallholder agriculture, meeting certification requirements as well as sharing knowledge and best practices to promote sustainable agricultural finance.
FAF TAF aims to increase the available donor funding and is currently open for fundraising.
Aims to support the Fund’s investees (rural MFIs) in improving their outreach and impact and providing opportunities to the rural poor around the world. With nearly EUR 5 million donor funding, RIF II TA facility has supported 54 projects with 30 investees in 26 countries. The Facility has provided investees with TA support in product development, organisational strengthening, risk management, transformation, distribution channels and MIS improvement among other interventions.
Aimed at fostering the financial inclusion of smallholder farmers and rural entrepreneurs by improving the capacity and increasing the outreach of the Fund’s investees. With nearly EUR 2 million in secured donor funding, agTAF aims to support 15-20 institutions in its first years of operation.
AgTAF intervention areas include the development of innovative financial products for the benefit of rural and agricultural clients, introducing alternative delivery channels as well as strengthening of the financial, operational, social and environmental performance and risk management practices of the Fund’s investees.
agTAF aims to increase the available donor funding up to EUR 4.5 million in total and is currently open for fundraising.
Country Ecuador
Facility FAF TAF
Supporting Jardin Azuayo’s mission to combat rural poverty, the Fairtrade Access Fund provided a long-term loan along with advisory services to scale up the organisation’s Productive Credit and Technical Assistance (PCTA) program. This would allow Jardin Azuayo to reach farmers in 15 particularly underserved regions of Southern Ecuador with much-needed financial services and technical trainings.
With Incofin’s capacity building support, Jardin Azuayo has worked with 20 producers to design a tailored investment plan to renovate his or her farm, then to provide the financing and hands-on technical assistance to help make it a reality.
“Incofin’s support has been fundamental not only to the Cooperative’s financial management, but also in building skills of producers to farm in a more productive and environmentally sustainable way, which contributes to improving the quality of life for smallholders.” – Wilmer Yanez, Cooperative Services
Country Guatemala
Facility Rural Finance Partnership (IADB)
In 2013, as crop diseases caused coffee and cardamom prices to plummet, FUNDEA and Incofin developed a technical assistance program to help FUNDEA better manage agricultural and climate risks, ensuring greater security for its clients and financial sustainability for the institution itself. In addition to supporting FUNDEA to diversify its portfolio by financing new crops, Incofin’s TA facility helped FUNDEA to implement an innovative risk management software which uses geolocation technology along with climate and agricultural data to create customised “risk maps” that allow FUNDEA to pinpoint and respond quickly in areas of heightened risk.
“Incofin’s Technical Assistance has provided us with important tools for a more sustainable approach to agricultural financing.” – Edwin Sánchez, Director of Risk
Country Cambodia
Facility RIF II
With Incofin’s TA support, AMK conducted an extensive survey of rural households to understand their unique financial needs, better positioning AMK to design products and services that respond to real challenges its clients face. Upon discovering that many rural families have no means of saving for retirement (i.e. daily, medical and funeral expenses), Incofin supported AMK in developing a “Happy Old Age” pension product to provide greater income security for Cambodian families, which is now being rolled out across AMK’s nationwide network.
“The new Pension Fund Product, part of AMK’s savings product diversification strategy, could not have been created without the strong support of Incofin. Incofin does not only provide financial support to AMK, but has also connected us to consultants with wide-ranging expertise and effective project management abilities, enabling AMK to reach beyond expectation.” – Sophy Pum, Head of Deposit and Branchless Banking Product Development
Country Pakistan
Facility RIF II
Recognising the unique opportunity to support a growing institution with a strong social mission, Incofin designed a comprehensive TA program to help Khushhali transform from a mono-line business model with a single group lending product into a dynamic, full service bank supporting small business owners across the country. The program not only allowed Khushhali to develop new MSME products and build expertise within the organisation, but also to craft a new business strategy and brand identity, propelling Khushhali’s future growth as it strives toward greater financial inclusion in Pakistan.
“The Incofin Technical Assistance Grant was instrumental in the transformation of Khushhali from a micro to a small enterprise bank. A first mover advantage in a largely un-served market” – Ghalib Nishtar, President and Chief Executive Officer
Country Rwanda
Facility RIF II
Enabled via Incofin RIF II TA facility, Incofin has been working with Unguka Bank to develop an agricultural lending strategy, related products and methodologies as well as to migrate to a new, more efficient core banking management system. Three types of agricultural value chains have been identified as the most promising to be financed by Unguka Bank: egg, rice and Irish potato. The product prototypes and related methodologies are currently being piloted in three branches of Unguka Bank and are expected to be rolled out in early 2018. Unguka Bank aims to reach 15.000 new clients with the new products which will represent 20% of its total loan portfolio by 2018.