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Consorzio Etimos JOIN FOR CHANGE

Consorzio Etimos JOIN FOR CHANGE. Table of contents. 1. Consorzio Etimos Introduction to Etimos Institutional Organization Operational Areas 2. Etimos in the world Latin America Africa Asia 3. Work in progress and goals Etimos - Fund Development of a Venture capital

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Consorzio Etimos JOIN FOR CHANGE

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  1. Consorzio Etimos JOIN FOR CHANGE

  2. Table of contents • 1. Consorzio Etimos • Introduction to Etimos • Institutional Organization • Operational Areas • 2. Etimos in the world • Latin America • Africa • Asia • 3. Work in progress and goals • Etimos - Fund • Development of a Venture capital • 4. Etimos in figures

  3. 1. Consorzio Etimos

  4. Introduction to Etimos • International financial consortium based in Italy • Specialized to offer financial products and services to microfinance programmes, producers’organizations • (POs), and social initiatives in developing and emerging markets • Origins in 1989 • As a civil association to sustain the development of fair trade and social economy in Italy • Founder of • Banca Etica, first Italian ethical bank (1999) • SEFEA, European Financial Fund composed by European ethical banks (2002) • Fefisol, investment fund focused on MFIs and POs in Africa (2009) • Meeting point of 278 organizations:113 Italian, 165 foreign organizations • Link between two complementary needs: • an efficient and responsible financial management • an effective social impact • Sister not-for-profit foundation, Etimos Foundation, focusing on: • research and training • technical assistance to enhance MFIs and POs • communication

  5. Introduction to Etimos • Key figures (as of 31 December 2009) • Team of 20 qualified and motivated professionals • 3 decentralised offices • Wide product range tailored to different financial needs and maturity of MFIs and POs • Total assets: Euro 34 M • Equity: Euro 6 M • Outstanding portfolio: Euro 23 M, directly invested in MFIs and POs • 3 funds under management: • - Fodima • - Plasepri • - Etimos Fund

  6. Institutional organization Consorzio Etimos Etimos Cono Sur Etimos Africa Etimos Lanka

  7. Operational areas • 1. Microfinance institutions Department • more than 100 MFIs financed; • working with a wide range of institutions: local associations, financial NGOs, savings and credit unions; • from solid, well managed, fast growing MFIs to small-scale, niche or start-ups; • focused on social impact. • 2. Producers organizations Department • in 2004, Etimos diversified the portfolio and included consortiums and producers’ co-operatives fair trade and/or organic oriented; • nowadays, finances 25 POs; • product range: advances on purchase contracts and long-term investments for infrastructures and transformation plants. • 3. Projects Department • Through subsidised funds, this department can: • support the development of Etimos financial offer; • offer technical assistance to enhance MFIs and POs: • - supporting the governance and institutional process; • - supporting and counselling in the internal organisation (business plan, staff training).

  8. 2. Etimos in the world

  9. Where Etimos is Etimos is present in 47 countries all around the world: Albania Argentina Benin Bolivia Bosnia and Herzegovina Brazil Bulgaria Burkina Faso Cambodia Camerun Canada Chile Congo Ivory Coast Ecuador El Salvador France Ghana Guatemala Guinea Honduras India Italy Kosovo Mali Malta Mexico Moldava Mozambique Nepal Nicaragua Palestine Panama Paraguay Peru Great Britain Dominican Republic South Africa Senegal Serbia Sri Lanka United States Switzerland Tanzania Togo Uganda Uruguay

  10. Where Etimos is

  11. Latin America • Starting point of Etimos’ activities, now present in almost all countries in the area. • Highly consolidated geographical area for Etimos investments, still offering many opportunities both in Microfinance and Producers’ sector. • Etimos Cono Sur • Since 2007, Etimos has a representative office based in Argentina. • Etimos Cono-Sur, as all the other representative offices based abroad, is in • charge to keep all the institutional relationships with national, international and • regional bodies and to carry out all the activities connected with the identification, • assessment and monitoring of the MFIs financed by Consorzio Etimos.

  12. Latin America • Focus on Fodima • Fodima is a trust fund created with the objective to enhance microfinance institutions based in Argentina. So far, the principal investors are Consortium Etimos, IBD (Interamerican Bank of Development) and CAF (Corporación Andina de Fomento). • Etimos Cono Sur has been appointed by the founders shareholders as managing company of the fund. • Few figures: • Starting amount of the Fund: 4 M Euro • Currency: Pesos Argentinos • Products: senior-debts and technical assistance • Beneficiaries: 35 Argentine MFIs • Term: 10 years

  13. Africa The area where investments are most needed and where is more difficult to attract financial resources. Etimos has expanded its presence in many countries especially targeting small MFIs and POs. This strategy has enabled Etimos to directly reach the poorest segments of the population, to strengthen the local economy and to improve the living standards. Etimos Africa Since last year, Etimos has been working in this region through its representative office based in Senegal.

  14. Africa • Focus on Plasepri • Plasepri is a fund constituted by the Italian and Senegalese Government for the development of small and micro-enterprises in Senegal. • Consorzio Etimos was appointed by Plasepri as consultant for the selection, the assessment and the monitoring activities of the microfinance institutions which will have access to this fund. • Few figures: • Starting amount of the Fund: 8 M Euro • Currency: FCFA • Products: senior-debts • Beneficiaries: Senegalese MFI investing in small and micro enterprises based in Senegal

  15. Africa • Focus on Fefisol • Fefisol is an investment fund focused on investments in African microfinance institutions and producers’ organizations. • It was created by Etimos in partnership with other European organizations (SIDI and Alterfin). The client identification, the due diligence and the field client follow up will be carried out by the fund founders. • Few figures: • Starting amount of the Fund: 15 M Euro • Currency: the majority of the fund will be invested in local currency • Products: 70% in senior-debts and 30% in equity • Beneficiaries: 80% MFIs and 20% producers’ organizations • Principal Investors: the founders, Agence Française de Développement, Proparco, Norway Microfinance Initiative, Caritas France

  16. Asia It is the last step in Etimos’ growth after Latin America, Africa and Eastern Europe. Etimos started its activities in Sri Lanka, where Microfinance played an essential role in the reconstruction of local economies affected by tsunami, and has expanded further the activities in Cambodia, Thailand, Nepal and India. Etimos Lanka Based in Sri Lanka since 2005, where Etimos run a project to enhance Microfinance institutions affected by tsunami. Etimos Lanka monitors and supervises the portfolio invested by Etimos, but also develops new relationships and investments in the island and in other countries in South-East Asia.

  17. Summarizing The success of Consorzio Etimos is the result of the 20 yearstrack record in financing with good performance over 100 microfinance institutionsacross more than 40 developing countries. Consorzio Etimos’ experience has been recognized last year by multilateral banks, Italian and foreign governments and international organizations.

  18. 3. Work in progress and goals

  19. Etimos Fund Etimos Fund is a Luxembourg Specialized Investment Found (SIF), established as an investment company with variable share capital (SICAV). It was formed as a public limited liability company, in accordance with the law of 2007. Etimos Global Microfinance debt is the first sub-fund mainly investing in microfinance institutions included in Tier 2 and Tier 3 level and up to 20% of its assets in producers organizations. Etimos Fund is aiming at combining an attractive and competitive financial return while delivering an effective social impact in developing countries.

  20. Development of a Venture Capital The next goal of Consorzio Etimos is the establishment of a Venture capital company. It aims at intervening directly into the equity of the companies, on one hand, to strengthen, from a financial point of view, their structure, and, on the other hand, to enhance human resources, know-how, expertise and new commercial markets. The first experience has been already realized. Aim of this year: 5 M Euro.

  21. 4. Etimos in figures

  22. Etimos in figures (data as of 31 December 2009, in Euro) Equity by organization’s type

  23. Etimos in figures (data as of 31 December 2009, in Euro) Equity by country

  24. Etimos in figures (data as of 31 December 2009, in Euro) Comparison between A & L Total assets: 34.051.200 Liabilities and equity 34.051.200

  25. Etimos in figures (data as of 31 December 2009, in Euro) Members Italian: 113 Foreign: 165

  26. Etimos in figures (data as of 31 December 2009, in Euro) Portfolio by sector

  27. Etimos in figures (data as of 31 December 2009, in Euro) Portfolio by geographical area

  28. Etimos in figures (data as of 31 December 2009, in Euro) Portfolio by currency

  29. Etimos in figures (data as of 31 December 2009, in Euro) Number of investments

  30. Etimos in figures (data as of 31 December 2009, in Euro) Largest outstanding positions

  31. Consorzio Etimos S.c. Via G. de Menabuoi, 25 35132 Padova - Italy

  32. Thanks for your attention

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