MicroVest, an asset-management subsidiary of US-based Development Alternatives Incorporated (DAI), recently lent USD 5 million to Panama-based Banco Delta. The loan is meant to help Banco Delta “expand access to financial services for MSMEs [micro-, small and medium-sized enterprises] and reignite growth for businesses impacted by COVID-19.” Founded in 2006, Banco Delta provides – in-person and online – various types of insurance; savings services; and loans for purposes such as vehicle purchases and business expansion to individuals and companies of all sizes. As of December 2021, the bank reported assets of PAB 286 million (USD 286 million).
Started in 2003, MicroVest “specializes in allocating private debt capital to responsible microfinance and MSME finance institutions serving unbanked and underbanked microentrepreneurs and small businesses in emerging markets.” As of 2021, MicroVest had a gross loan portfolio of USD 519 million.
DAI is a US-based global development firm focused on “fundamental social and economic development problems caused by inefficient markets, ineffective governance and instability.”
By Ben Greissman, Research Associate
Sources and Additional Resources
Banco Delta homepage
Banco Delta financial statements
MicroVest 2021 impact report
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