A “capital plus” approach combining investment, governance guidance, support to the Board of Directors and matching grants for technical assistance to drive the transformation process of one of the most resilient MFIs in Nicaragua.

Fundación para el Desarrollo Socioeconómico Rural (Fundeser) has been a client of Incofin Investment Management since 2006. In 2014 the Rural Impulse Fund II (RIF II) became a shareholder of Fundeser. Despite being a minority shareholder, RIF II through Incofin IM staff has played an active role in providing strategic guidance throughout the transformation process.  Between 2012 and 2015, several grants amounting to 200,000 USD were assigned by Incofin IM (thanks to the support of BIO, FMO and RIF II own Contribution). The grants were used for TA services provided by external consultants to support Fundeser in its transformation into a regulated MFI. The TA intervention of RIF II focused on organizational development and strengthening of Fundeser’s human capital.