Who is our client
Our client is Nitlapan, an institute of the Catholic University Nicaragua. Nitlapan is not a microfinance institution, but it has a strong history in microfinance and close ties to the microfinance industry. Nitlapan has been in charge of administrating the microfinance scheme for Nicaragua Sugar’s former sugar cane workers (“ASOCHIVIDA members”) suffering from chronic kidney disease (“CKD”) while providing technical assistance and training that is crucial for the CKD victims and/or their family to set up a viable business. Their services include orientation about the feasibility of the type of business activity, the evaluation of business ideas, the formulation of a business plan, and the elaboration of financial plans.
The objective of the funding is to support the entrepreneurial microfinance program for ASOCHIVIDA members managed by Nitlapan on its path to sustainability. The program provides loans and technical assistance to promote livelihood opportunities for families, whose main income earner has fallen ill to CKD. CKD is an epidemic affecting manual workers in Central America.
Why we fund this project
FMO is financing this initiative, because it is aligned with the MASSIF strategy to foster entrepreneurship and increase access to finance at the Base of the Pyramid. FMO is joining DEG to support this microfinance initiative. So far, DEG has been an important partner to support Nicaragua Sugar to address CKD.
Environmental and social rationale
- Latin America & The Caribbean
- Agribusiness, Food & Water
- Signing date
- Total FMO financing
- EUR 0.13 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)