Cablegate: Mozambique: Opic Guaranty to Calvert Social Investment

VZCZCXYZ0009
RR RUEHWEB

DE RUEHTO #0938 2201433
ZNR UUUUU ZZH
R 081433Z AUG 07
FM AMEMBASSY MAPUTO
TO SECSTATE WASHDC 7718

UNCLAS MAPUTO 000938

SIPDIS

SIPDIS

AF/S FOR HTREGER AND CKARBER
STATE PASS TO OPIC FOR LRODWIN
STATE PASS TO USAID FOR AFR/SA

E.O. 12958: N/A
TAGS: ECON EAID EINV ETRD MZ
SUBJECT: Mozambique: OPIC Guaranty to Calvert Social Investment

Ref: State 00103089

1. Socremo Banco de Microfinancas (Socremo MFB or Socremo) is one
of the largest Micro Finance Institutions (MFIs) in Mozambique.
Socremo received authorization to become a non-bank financial
intermediary from the Mozambican government in 1998. In May 2004,
Socremo obtained a license to operate as a Microfinance Bank (MFB).

2. Initially supported by the Deutsche Gesellschaft fuer Technische
Zusammenarbeit (GTZ), Socremo also has received support from Hivos,
MicroStart Mozambique (UNDP), the British Development Agency DFID,
the Swiss Development Agencies SECO and SIFEM, and others.

3. Socremo and its investors are not known to have any ties to
terrorism, money laundering, or corruption, or to have violated any
national or international laws.

4. Post will forward a 2006 independent analysis of Socremo to OPIC
via email.

Chapman

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