FDL

  • Active: Active
  • Region: Latin America
  • Country: Nicaragua
  • Sector: Microfinance
  • Year: 2013
  • Domicile: Nicaragua
  • Instrument: Equity and loan
  • Commitment (MNOK) as of 31.12.2019: 91.2
  • Original Commitment (MNOK): 131.9

female entrepreneur
A large proportion of FDL's clients are female

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 and becoming a regulated institution.

Financiera Fondo de Desarrollo Local (FDL) is the leading microfinance institution in Nicaragua. FDL began its operations in 1992 as an NGO to later emerge as a well functioning Nicaraguan microfinance institution. Its mandate is to provide financial services to micro and small enterprises in both rural and urban settings.

Norfund owns close to 11% of the company.  As Norfund provides equity to FDL, this mobilizes more capital on the debt side of the business as it provides comfort to lenders.

 

 

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo

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