MICROCAPITAL BRIEF: responsAbility Loans $3.9m to Microfinance Institutions (MFIs) Arvand of Tajikistan, Mol Bulak of Kyrgyzstan, Constanta and Lazika Capital, Both of Georgia

responsAbility Social Investments AG, a Swiss investment company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totalling USD 3.9 million in microfinance institutions (MFIs) Arvand of Tajikistan, Mol Bulak Finance of Kyrgyzstan, Joint Stock Company (

) Bank Constanta of Georgia and JSC Lazika Capital of Georgia. The investments have been made through two MIVs: the responsAbility Global Microfinance Fund (rAGMF) and responsAbility Microfinance Leaders Fund (rAMLF). In Tajikistan, rAGMF and rAMLF have made combined debt investments of USD 750,000 in Arvand, a deposit-taking MFI. As of December 2009, Arvand reported to the....

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