Corporación de Fomento a Iniciativas Económicas S.L. (CONFIE), was incorporated on June 12, 2008 by FIE NGO of Bolivia, as a holding vehicle to create sustainable synergies between microfinance entities in Latin America and the Caribbean, and to intensify the fight against poverty and exclusion, the main needs of our region. CONFIE will contribute to this objective by promoting the principles and values which originated microfinance throughout the world.
Pursuing its principles and purposes, and in the framework of its institutional mission, FIE NGO sought strategic partners with which to establish the Corporation as a leading provider of financial services for low income persons and groups.
BlueOrchard Private Equity Fund S.C.A., a fund specialized in microfinance, joins CONFIE as a partner acquiring 25% of CONFIE’s social capital. Mr. Vincent Burgi (2%) and Petterlaar Effectenbewaabedrijf N.V. (6%) shortly later join this initiative, offering each their own specific differentiating added values :
 FIE’s knowledge and experience as managing partner and “operator” of two successful and highly respected MFIs, in Bolivia and Argentina.
- BlueOrchard’s experience as a stable source of funding and shareholder in many MFIs worldwide, along with its networks of contacts and alliances.
- Mr. Burgi’s active intervention and support as committed investor, with ample knowledge of microfinance and its institutions; and
- Developing World Markets (administrators of Petterlaar Effectenbewaabedrijf N.V. funds) new participants in the sector.
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