Triodos microfinance funds make equity investment in India

Frank Streppel, deputy managing director Triodos Investment Management and member of the Board of Directors of BSFL

14-06-2010 |

Triodos microfinance funds make equity investment in India

Triodos Fair Share Fund and Triodos Microfinance Fund have made an equity investment in Bhartiya Samruddhi Finance Ltd. (BSFL), the flagship company of the BASIX Group in India. The main goal of BSFL is to promote entrepreneurship among low-income people. BSFL mainly works with economically active rural households engaged in agriculture, livestock earning or household manufacturing activities. The company works in an integrated way providing microfinance, institutional development, and agricultural and business development services. BSFL currently has operations in 15 states, where it serves over a million credit, two million insurance and half a million agri/business services customers.

Frank Streppel, deputy managing director Triodos Investment Management and member of the Board of Directors of BSFL: 'With Hivos-Triodos Fund we have been a shareholder in BSFL since 2001. Over the past years the organisation has grown rapidly but has always kept its triple bottom line focus. In particular, the offer of services with a strong focus on livelihood development distinguishes BSFL from other microfinance providers in India. BSFL is ready for the next growth phase and there is still a huge need in India to access a diversified range of financial services to the underbanked population in underserved sates. With investments by Triodos Microfinance Fund and Triodos Fair Share Fund we can support this growth and continue contributing the experience and network of Triodos Group.'