MICROCAPITAL BRIEF: Incofin VDK MFI Loan Portfolio Loans $5m to Mongolian Microfinance Institution XacBank

Incofin Investment Management (Incofin), a Belgian fund manager that invests in microfinance, recently reported to MicroCapital that it loaned USD 5 million from the Incofin VDK MFI Loan Portfolio to XacBank, a community development microfinance institution (MFI) in Mongolia. Incofin VDK MFI Loan Portfolio is a microfinance investment vehicle that was launched in 2007 by Volksdepositokas (VDK) spaarbank, a Belgian savings bank and shareholder in Incofin. XacBank aims to provide “inclusive and value adding financial services to the citizens and expatriates, institutions and enterprises of Mongolia, while maintaining its leadership in the global microfinance industry.” According to Incofin, XabBank's mobile service and franchise models are expected to.... Continue reading here. Contact MicroCapital to receive a complete sample issue of the MicroCapital Monitor, the monthly microfinance newspaper.