Debt Investments

Our core business activity is providing inclusive financial institutions (IFINs) around the world with access to international capital markets by designing customized solutions to meet their capital needs. DWM's debt product offerings for IFINs include:

  • Senior and subordinated debt
  • Local and foreign currency loans
  • Bond issues
  • Syndications

Below is a summary of DWM's over $1 billion of impact debt investments in 40+ emerging market countries. You can also download DWM's list of debt investments from 2006 to 2016.

Region Principal (USD) % Avg. Tenor (Yrs.)
South, Southeast & East Asia 158,436,785 15.2% 2.7
Central America, Carrib. & Mexico 91,409,632 8.8% 2.9
South America 232,855,089 22.4% 3.2
Africa & Middle East 23,358,831 2.2% 2.2
Central Asia & Caucasus 357,806,531 34.4% 2.6
Eastern Europe 159,555,320 15.3% 4.0
Diversified 17,274,292 1.7% 3.9
Total 1,040,696,482 100.0% 3.0
Financial Institution Type Principal (USD) % Avg. Tenor (Yrs.)
Non-Bank Financial Inst. 437,702,537 42.1% 2.9
Bank 434,520,856 41.8% 3.0
Nonprofit 135,223,466 13.0% 3.3
Financial Holding Co. 27,274,292 2.6% 4.1
Cooperative 5,975,330 0.6% 2.8
Total 1,040,696,482 100.0% 3.0
DWM Clients with a Focus on Principal (USD) % Avg. Tenor (Yrs.)
Agricultural/Rural Communities 476,478,740 45.8% 3.0
Women Entrepreneurs 483,038,899 46.4% 2.7
Microfinance vs. SME Principal (USD) % Avg. Tenor (Yrs.)
Micro 855,884,113 82.2% 2.9
SME 184,812,368 17.8% 3.7
Total 1,040,696,482 100.0% 3.0

General Investment Criteria

Investments are made after rigorous financial analysis and on-the-ground due diligence of the inclusive financial institution's financial sustainability, operations, management, corporate governance and social values, as well as the macroeconomic landscape and operating environment of the country where the institution is located.

Other general characteristics that we consider are:

  • Audited financial statements
  • Clearly articulated mission and business plan
  • Stringent credit and control systems
  • Robust risk management and information systems
  • Clearly defined management roles and organizational structure
  • Board of Directors or oversight committee
  • Improving financial ratios
  • Network affiliation
  • Transparent and favorable regulatory environment
  • Rating from recognized microfinance or mainstream rating firm