This report provides a preliminary quantitative analysis of the financial results of five organizations which are clients of FondoMicro. It also includes a qualitative assessment of the long-run vision held by these institutions' managers and of the organizations' ability to allow a transformation into self-sustainable institutions, whose financial contracts are useful to small and micro entrepreneurs.O54 H43

Claudio Gonzalez-Vega

Mark Schreiner

English

Research Papers in Economics

ADEMI was founded in 1983. By early 1995 it boasted 24 branches in 20 cities. Between

ADEPE was founded in 1975 in Moca. Its loan officers are university graduates in economics.

All the financial statements used in this analysis had been audited. Some information from statements prepared by FondoMicro was also used. The

Although the DLR as applied here and Rosenberg’s

Asociación para el Desarrollo de la Provincia Espaillat, Inc.

Asociación para el Desarrollo de Microempresas, Inc.

Do Financial Institutions have a Role

Executive Summary of the Association for the Development of Microenterprises, Inc.&quot;,

Figures pertain to lending activities only. b54 Table II.15. ADEPE: Analysis of Operational Cost Structure (percentages),

Fondo para el Financiamiento de la Microempresa, Inc.,

FondoMicro provided data for the cooperative for one year,

For reference, the proportion of each lender’s portfolio funded by FondoMicro appears in Table I.3. Table I.3. All Lenders: Proportion of the Portfolio Funded By FondoMicro (percent),

Informe Trimestral: Estadísticas al 1993&quot;, Santo Domingo.

Measure of Subsidy Dependency The Subsidy Dependency Index (SDI) was developed by Yaron

Memoria Anual: 1992-1993&quot;,

Memorias: Encuentro ADEMI ’94&quot;,

Outreach and Sustainability of Six Rural Finance Institutions in Sub-Saharan Africa,” World Bank Discussion Paper No.

Successful Rural Finance Institutions,” The World Bank

Table II.13. ADEPE: Profitability Analysis (percentages),

Table II.15. ADEPE: Analysis of Income Structure (percentages),

Table II.17. ADEPE: Analysis of Unadjusted Arrears,

Table II.2. ADEMI: Subsidy Dependency Index,

Table II.23. ADOPEM: Balance Sheet Distribution (percentages),

Table II.32. Candelaria: Analysis of Income Structure,

Table II.39. FONDESA: Balance Sheet Distribution (percentages),

Table II.6. ADEMI: Analysis of Income Structure,

Technical Guide for the Analysis of Microenterprise Finance Institutions,

that all equity for 1993 resulted from lending profits. This overestimates the implicit subsidy.52 Table II.12. ADEPE: Donor Leverage Ratio,

The Behavior and Performance of Credit Cooperatives: An Analysis of Cooperative Governance Rules,”

The hog and poultry farm lost DR$850,000 in 1994, a loss equal to about half of the profit generated by the lending operation.

This rate is known as the Internal Rate of Return on the sequence of cash flows. 17 Table I.2 presents

Dominican Republic: Analysis of the Clients of FondoMicro

http://128.118.178.162/eps/dev/papers/0109/0109008.pdf

Dominican Republic: Analysis of the Clients of FondoMicro

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