Status Update - March 28, 2013


Kiva and Zene za Zene have agreed to end their partnership after more than five years. All outstanding loans have been repaid and no further loans from this partner will be posted to Kiva. We thank Zene za Zene for being a consistent and reliable partner.


Status update on Zene za Zene from Kiva Staff on September 28, 2009


Many countries in Eastern Europe have been hit particularly hard by the global economic crisis. Kiva's Field Partners in this region have struggled with increased delinquency, diminished remittances, and currency devaluation. In particular, Zene za Zene, a partner of Women for Women International and Kiva's field partner in Bosnia-Herzegovina, has experienced a significant increase in delinquency due to the over-indebted position of many of their borrowers.

While Zene za Zene works to correct their increased delinquency, Kiva believes it is necessary to place Zene za Zene in a "Paused" status. Kiva understands that Zene za Zene is working towards stabilizing its loan portfolio and once Kiva determines the situation is resolved, Kiva will consider restoring Zene za Zene to "Active" status.

Original Partner Description

Women for Women International helps women in war-torn regions by providing:

• financial and emotional support
• job skills training
• rights awareness
• micro-credit loans & small business assistance

Founded in 1993, Women for Women International began operations in Sarajevo, Bosnia and Herzegovina providing women victims of war with financial assistance and job skills training. In Bosnia and Herzegovina we are know as “Zene za zene International”.

Women for Women International’s micro-credit program was launched in Bosnia and Herzegovina in 1997. After the adoption of the Law on Micro-credit Organizations and legal regulation of their operations, MCO Zene za zene International was registered as a local micro-credit organization, furthering the goal and mission of Women for Women International to create sustainable communities.

Mission of Women for Women International

Provide tools and resources needed for moving from crisis and poverty into civil society which promotes and protects peace, stability and sustainability to women-victims of war, violence and other conflict.

Institutional Goals of the MCO Zene za zene International, B&H

Provide financial services to low-income women clients recovering from war in Bosnia and Herzegovina, maintain a strong, sustainable microfinance institution serving the long-term needs of women in B&H and in this way contribute to realization of Women for Women International's vision for peaceful and stable societies.

Purpose of the MCO Zene za zene International, B&H

Provide financial services to low income women entrepreneurs starting small businesses thereby helping them to increase their income, improve their living conditions and by doing so reduce poverty in the community.

The MCO Zene za zene International, B&H has also started using Social Performance Management (SPM) in order to measure the social impact of micro-credit on the target clients. SPM will help us to understand the level of changes we are making to clients lives and their families. Our Organization will benefit by providing transparent information to stakeholders and to public which will increase credibility to MCO Women for Women International.

The MCO's mission is transformed into action through the SPM as following:

• To maintain its reputation of strong sustainable microfinance institution
• To serve low-income women entrepreneurial clients starting up and developing their businesses
• Provide financial services & loans for start ups businesses loans
• Reduce poverty in the community though increasing income of low-income women improving their living condition
Learn More:

Kiva HelpRepayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 18, 2007 Oct 12, 2005
Total Loans $441,325 $536,584,175
Amount of Raised Inactive Loans $0 $240,350
Number Of Raised Inactive Loans 0 240
Amount of Paying Back Loans $0 $108,976,300
Number Of Paying Back Loans 0 112,332
Amount of Ended Loans $441,325 $427,367,525
Number Of Ended Loans 576 549,352
Delinquency Rate 0.00% 3.52%
Amount In Arrears $0 $2,470,527
Outstanding Portfolio $0 $70,115,648
Number of Loans Delinquent 0 10,959
Default Rate 0.00% 1.01%
Amount of Ended Loans Defaulted $0 $4,335,486
Amount of Ended Loans $441,325 $427,367,525
Number Of Ended Loans Defaulted 0 14,050
Currency Exchange Loss Rate 0.00% 0.06%
Amount of Currency Exchange Loss $0 $298,028
Refund Rate 8.14% 0.82%
Amount of Refunded Loans $35,925 $4,417,000
Number Of Refunded Loans 32 4,864

Kiva HelpLoan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans To Women Entrepreneurs 100.00% 74.09%
Average Loan Size $781 $417
Average Individual Loan Size $784 $656
Average Group Loan Size $963 $1,811
Average Number Of Entrepreneurs Per Group 2.5 8
Average GDP Per Capita (PPP) in Local Country $6,600 $3,463
Average Loan Size / GDP Per Capita (PPP) 11.83% 12.04%
Average Time To Fund A Loan 0.61 days 5.27 days
Average Dollars Raised Per Day Per Loan $1,275.12 $79.06
  Average Loan Term 12.79 months 10.04 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 435 268,469
  Journaling Rate 70.14% 42.12%
  Average Number Of Comments Per Journal 0.47 0.09
  Average Number Of Recommendations Per Journal 6.67 2.06

Kiva HelpBorrowing Cost Comparison (based on 2010 data)

    This Field Partner Median for MFI Peers in Country All Kiva Partners
  Portfolio Yield 25.23% 25.23% 34.93%
  Profitability (Return on Assets) -13.87% -13.87% -1.11%
  Average Loan Size (% of Per Capita Income) 18.55% 28.85% 42.70%

Kiva HelpCountry Fast Facts

Field Partner Staff

Nela Sinanovic