MICROCAPITAL BRIEF: MicroVest Lending $3.4m to Financiera Finexpar for Agriculture, SME Lending in Paraguay
Summary
MicroVest, an asset management subsidiary of US-based DAI Global, recently issued a loan of USD 3.4 million to the Paraguay-based microfinance institution (MFI) Financiera Finexpar to support the MFIs lending activities, specifically the funding of small and medium-sized enterprises (SMEs) engaged in agricultural and livestock activities. Established in 1989, Financiera Finexpar offers savings, loans, payment cards and insurance services from 16 branches. As of March 2023, the firm reported total assets of PYG 2.6 trillion (USD 354 million). The MFI is owned by Banco Central del Paraguay.MicroVest was founded in 2003 and specializes in channeling wholesale loans to funders of micro-, small and medium-sized enterprises (MSMEs) in low- and middle-income countries. For 2022, the organization reported a 20-percent average return on assets, ending the period with a gross loan portfolio of USD 1 billion.DAI Global is an employee-owned firm that is active in 100 countries in areas such as economic development, sustainable business, climate change and the environment, governance, gender, and health.