FINCA Impact Finance (FIF), a network of 20 microfinance institutions and banks, announced today that it has secured a $15 million loan facility with a five-year tenor from Calvert Impact Capital.
In its recently released 2018 Annual Report, FIF provided an update of its 2.0 strategy that involves shifting to a “touch-tech” service delivery model
In 2018, FIF launched a diversity and inclusion (DI) strategy outlining 5 key pillars of focus for the company. These pillars emphasize an inclusive workplace, equal representation, equal opportunity, equal pay and increased outreach to women through specially-designed products and services.
Caren Robb will be responsible for overseeing the financial performance of FIF’s network of 20 community-based banks and microfinance institutions and the integration of digital technologies into its banking practices.
The USD 2.8 million bond issuance will support on-lending to small businesses. It is the third successful bond issuance by FINCA Armenia since 2017.
2017 was a turnaround year for FINCA Impact Finance. The company returned to profitability while launching new initiatives in client protection, Fintech, mobile banking and data analytics, among others.
Deetken Impact will provide a USD 1 million loan to FINCA Haiti SA for on-lending to individual, micro, small- and medium-sized businesses. The funds will support FINCA Haiti SA to grow its network of branches and digital financial services, including gender-sensitive financial products.
The Grameen Crédit Agricole Foundation will provide a USD 2 million loan to FINCA Microfinance Company Jordan (FINCA Jordan), a FINCA Impact Finance subsidiary, for on-lending to individual, micro, small and medium-sized businesses.
In a new article, “The Future of Responsible Financial Services”, FINCA Impact Finance Vice President and CFO Roman Hingorani discusses the company’s innovative strategy for delivering a double bottom line of social impact and financial sustainability.