Huruma Fund publishes the 2021 Annual Report
Madrid, December 22, 2022. The Huruma Fund has published the annual report for the year 2021 and is accessible at the bottom of this publication.
The investments (47.4 million euros) have been committed and made through ten financial institutions in five countries. Nine of them are focused on the financial inclusion of farmers and agribusinesses, enhancing supply and value chains.
Other key milestones include:
- More than 500,000 vulnerable people have been supported by the companies that have received investment from the Huruma Fund, with an average loan of 1,336 euros.
- More than 16,550 people have been directly impacted by the fund’s investments.
- 88,600 farmers benefited.
- 52% of female beneficiaries.
- 53% live in rural areas.
ABOUT THE HURUMA FUND
The Huruma Fund is the first project led by COFIDES within the framework of agriculture blending facilities in the European Union. Managed by GAWA Capital, it has 120 million euros contributed by the European Union, FONPRODE (the Development Promotion Fund) of the Spanish Agency for International Development Cooperation (AECID)COFIDES and private investors, thanks to the collaboration of CaixaBank Private Banking, which has distributed the fund through its national network. The objective is to provide access to loans to farmers in underserved rural areas in Latin America, the Caribbean, Sub-Saharan Africa and Asia. It includes a Technical Assistance Facility (TAF) to provide consulting services and training related to agriculture, and to help improve the entities the Fund invests in, enhancing the impact on excluded rural populations.
ABOUT GAWA CAPITAL
Established in 2010, GAWA Capital is the leading firm in impact investing in Spain, having mobilised over 204 million euros in public and private investments. Its objective is to improve the lives of low-income communities by promoting investing in social enterprises, while providing their investors with a financial return. GAWA was a pioneer in the introduction of impact investing in Spain, launching three funds which invest in emerging countries with an inclusive approach to market solutions for social issues.
COFIDES, a State-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).