Growth of Microfinance in Nicaragua

The Financial company FAMA is to issue $4 million in bonds to be used to increase the microfinance portfolio.

Wednesday, March 5, 2014

Microfinance in Nicaragua continues to grow and one example is the issuance of $4 million in commercial paper or bonds held by Financiera FAMA in the local market.

In an article Elnuevodiario.com.ni Victor Tellería CEO of FAMA said "this is the first time that the Superintendent has authorized a financial institution specializing in microfinance to do this, here there are two banks that have already released their issue, but this is the first time for a financial institution like us."

"In 2013 , Financiera Fama granted $31 million in 60.489 loans. Upon completion of this year, the institution expects to reach 44,778 customers and increase its loan portfolio in excess of U.S. $6 million, to close with an active portfolio of U.S. $38 million."

"Any natural or legal person who has an interest in getting a return on their investment with a social impact can invest in these securities, in amounts from $1000 to $4 million, which is the amount we have been authorized" Tellería said.

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