Organisation

Organisation general information
Organisation name: 
Consorzio Etimos S.C.
Founding year: 
1989
Country: 
Italy
Total number of staff: 
10
Resources dedicated to microfinance: 
6
Percentage of microfinance activities: 
Between 70 and 100%
Type of organisation: 
For profit
 
Financial institution, Fund management - 2nd level financial consortium
Organisation's contact person
Contact person: 
Mr. Paolo Nicoletti
Address: 
Via G. De Menabuoi 25
IT-35132
Padova
Italy
Phone: 
+39 (049) 875 5116
Fax: 
+39 (049) 875 5714
Organisation summary
Mission: 

Etimos is a transnational co-operative consortium including over 280 organisations in Italy, Europe and in developing countries: microfinance institutions, producer cooperatives, associations, universities, schools and social promotion institutes, cooperatives, fair trade shops, NGOs, banks, foundations, public authorities and religious
associations. The strength and specificity of Etimos are linked to this "consortium" based setup consisting of a network of different organisations by sector, size and geographical location, but all equally determined to promote a new development model. Etimos provides its members with the tools necessary to promote economic and social growth of local communities translating into capital, resources, knowledge, technical assistance, training, opportunities for dialogue.

The main objectives for the future are:

  • Keeping on supporting Etimos members across the world, also by elaborating new tools
  • Maintaining focus on small and medium MFIs and producers
  • Managing Etimos Fund, launched in May 2011, to raise funds and finance bigger and consolidated MFI and producers
  • Maintaining focus on South America (where Etimos has 60% of the portfolio) and Asia (30%)
  • Consolidating its experience in Africa thanks to Fefisol and Plasepri (later illustrated)
Type of intervention: 
  • Equity
  • Loans
  • Guarantees
Countries of intervention: 
Africa
Asia
Europe
South America
Areas of intervention: 
  • Macro level: Supporting networks and associations, Strengthening national/regional microfinance support sector, Capacity building (focused on all MFIs)
  • Intermediate level: Community-based finance solutions, Rural finance, Microfinance investment vehicules, Post-conflict/disaster microfinance, Business development services, Social impact/performance, Urban finance
  • Micro level: Capital/equity investments, Financial product development and innovation
Main competences: 

Etimos has more than 20 years experience in financing MFIs in Latin America, Eastern Europe and the Balkans and Africa. More recently, it also gained very important experience in financing in post-disaster contexts, with interventions in Sri Lanka (post-tsunami) and Italy (after Abruzzo (2009) and Emilia Romagna (2012) earthquakes), paying specific attention also to the smallest (Tier 3) MFIs in the areas, recognizing their potential and strong value, and helping them to face economic difficulties and boost their activities by financing producer cooperatives they finance.

Etimos in the last years acquired also an important experience in Microfinance Investments vehicle. It created in 2007 "Etimos Fund, a Luxembourg-based Specialized Investment Fund (SIF), with sub-funds Etimos Global Microfinance debt investing Tier 2 and 3 MFIs and producer organizations. Moreover, together with 2 European NGOs it established FEFISOL (European Solidarity Financing Fund for Africa), to invest in MFI equity, producer cooperatives and social enterprises. Lastly, as consultant of the project PLASEPRI, the "Financial and technical assistance platform to promote private sector development in Senegal", Etimos has been performing evaluation and monitoring work. These experiences built Etimos' knowledge of the African context.

Please indicate any innovations in your microfinance program planned for the coming year: 

IN THE FOLLOWING YEARS ETIMOS IS PLANNING TO CREATE SOME REGIONAL FUNDS (ASIA, CENTRAL AMERICA, SOTH AMERICA) TOGETHER WITH A LOCAL PARTNER, ALLOWING THE CONSORTIUM TO DIRECTLY MANAGE ITS MICROFINANCE ACTIVITIES ON A LOCAL LEVEL. ETIMOS WILL THEREFORE INVEST IN THE EQUITY OF THESE FUNDS AND WILL MANAGE THEM, IN ORDER TO BE ABLE TO OFFER MORE SERVICES TO ITS MEMBERS AND TO BE CLOSER [...]