FDL

Latin America

Region

47.9

Commitment (MNOK)

Active

Status

Fondo de Desarrollo Local (FDL) began its operations in 1992 as a unit of the research and development department at a local university. In its early years, FDL operated mainly as a second-floor financial institution and in 1997 it restructured as an MFI providing loans directly. Today, FDL is a strong MFI that has emerged as a leader in the Nicaraguan Microfinance sector. Norfund's investment provides much-needed capital for the institution to continue increasing its customer base and providing more products within the sector.

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Key information

Sector:
Financial Inclusion
Commitment (MNOK):
47.9
Year:
2013
Region:
Latin America
Country:
Nicaragua
Domicile:
Nicaragua
Instrument:
Equity
Status:
Active
Mandate:
Development

A large portion of FDL’s clients are farmers. In addition to give microloans, FDL offers professional training to their clients in how to adapt to climate changes and do more climate resilient farming.

FDL and Vertical Agro are examples of Norfund investees that work strategically to be resilient to climate change