Kashf Foundation, a provider of microloans and microinsurance to women in Pakistan, recently secured a local-currency loan of undisclosed size from SEB Microfinance Funds, an offering of
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SPECIAL REPORT: Bancamía of Colombia, Banco FIE of Bolivia, Kashf Foundation of Pakistan Shortlisted for $100k European Microfinance Award on Financial Inclusion for Women
From the European Microfinance Platform (e-MFP): On the 21st and 22nd September 2022, the Selection Committee for the European Microfinance Award 2022 (EMA 2022) on “Financial Inclusion that Works for Women” chose the three finalists that will go on to compete for the EUR 100,000 (USD 100,000) prize: Bancamía from Colombia; Banco FIE from Bolivia; and Kashf Foundation from Pakistan.
For decades, financial inclusion has ostensibly been about women’s empowerment and autonomy. But too often the sector has paid only lip-service to what this means, focusing merely on
MICROCAPITAL BRIEF: CDC, FinnFund Lend $25m to Kashf Foundation for Microfinance for Women in Pakistan
The CDC Group, a development finance institution owned by the UK government, recently disbursed USD 25 million to Kashf Foundation, a Pakistani microfinance institution, in the form of a senior, unsecured term loan. The loan is 40-percent funded by FinnFund, a development finance institution controlled by the government of Finland.
Kashf Managing Director Roshaneh Zafar stated, “We are
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loans $25m to Kashf Foundation to Expand Microfinance for Women in Pakistan
The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently approved a loan of USD 25 million to support the operations of Kashf Foundation, a provider of microfinance services in Pakistan. The loan is intended to help expand access to
MICROCAPITAL BRIEF: Netherlands’ FMO Lending $5m to Kashf Foundation of Pakistan to Support Women Microentrepreneurs
The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently announced it will lend USD 5 million to the Pakistan-based Kashf Foundation in order to support
SPECIAL REPORT: Kashf Foundation of Pakistan Wins $106k European Microfinance Award for Supporting “Low-cost” Private Schools
The Kashf Foundation, a Pakistani nonprofit providing microfinance services and advocacy on social issues, won the seventh European Microfinance Award last night for its support of private schools that serve students from low-income families. In addition to financing the schools, Kashf provides training in areas ranging from classroom management to human resources. The organization also assists
MICROCAPITAL BRIEF: Guatemala’s Fundación Génesis Empresarial, Pakistan’s Kashf Foundation, Opportunity Bank of Uganda Named as Finalists for Education Edition of $112k European Microfinance Award
The European Microfinance Platform (e-MFP), a network of European microfinance stakeholders working in developing countries, recently announced that three finalists for the 7th European Microfinance Award have been selected from 30 applicants: (1) Fundación Génesis Empresarial of Guatemala; (2) Kashf Foundation of Pakistan; and (3) Opportunity Bank of Uganda.
MICROCAPITAL BRIEF: FINCA Becomes Majority Shareholder of Kashf Microfinance Bank of Pakistan with $8.4m Investment
Kashf Microfinance Bank Limited (KMBL), a Pakistan-based microfinance bank (MFB), recently announced an equity injection of PKR 824.7 million (USD 8.4 million) from FINCA Microfinance Coöperatief U.A., a Netherlands-based entity controlled by US-based NGO FINCA International.
MICROCAPITAL BRIEF: SME Business Support Fund, Kashf Microfinance Bank Partner
SME Business Support Fund, a nonprofit organisation that assists small and medium-sized enterprises (SMEs) as well as business development service providers (BDSPs), recently partnered with Kashf Microfinance Bank in an effort to create viable business support models that will encourage self employment in Pakistan.
MICROCAPITAL BRIEF: Obama Attends Sixth Annual Meeting of Clinton Global Initiative (CGI), Microfinance Initiative by Pakistan’s Kashf Foundation Announced
On September 21, 2010, US President Barack Obama and 64 current and former heads of state attended the opening of the sixth annual meeting of the Clinton Global Initiative (CGI), a forum on international development founded in 2005 by former US President Bill Clinton.
MICROCAPITAL BRIEF: Kashf Foundation and Kashf Microfinance Bank, Two Microfinance Institutions (MFIs) in Pakistan, Agree to Set Up Savings Kiosks at Kashf Foundation Branches
Kashf Foundation, a microfinance institution (MFI) in Pakistan, and Kashf Microfinance Bank, a full-service microfinance bank founded by the Kashf Foundation in 2008, have signed an agreement to begin setting up savings kiosks at Kashf Foundation branches.
MICROCAPITAL BRIEF: Standard Chartered Bank Pakistan Closes First Microfinance Deal, $4.2m to Kashf Foundation
Standard Chartered Bank Pakistan Ltd, a subsidiary of Standard Chartered PLC, has closed its first microfinance deal, a two-year term loan to Kashf Foundation worth PKR 350 million (USD 4.2 million).
PRESS RELEASE: Grameen Foundation Supports Landmark deal for Kashf Foundation in Pakistan
Kashf Foundation and Citibank Announce First Stage of USD 22mm Term Funding Structure Involving the US Overseas Private Investment Corporation åö A First for Microfinance in Pakistan
The Kashf Foundation, a Pakistani microfinance institution (MFI) founded in 1996, and Citibank Pakistan, a subsidiary of the Citigroup international financial services organisation, announced the first stage of a USD 22mm term financing package arranged by Citibank. It is the first commercial structured finance deal of its kind in the microfinance sector in Pakistan. In the first tranche Citibank will provide Kashf with a USD 6mm 5 year funding, with risk participation by the Overseas Private Investment Corporation (OPIC), a US government agency established in 1971 to help US business interests manage risk abroad. The next two tranches worth USD 8mm each will be announced in the near future and Citibank Pakistan will act as an advisor in arranging these term loans.
Government of Pakistan and Asian Development Bank (ADB) Sign Grant to Expand Outreach of Microfinance; First MicrofinanceBank and Kashf Foundation Help
The government of Pakistan and the ADB, a multilateral financial development foundation founded in 1966, have signed a USD 2mm grant agreement which plans to expand the outreach and services of microfinance in Pakistan. The grant comes from the ADB’s Japan Fund for Poverty Reduction (JFPR), a grant facility established in 2000 by the government of Japan and the ADB. The agreement was signed by Peter Fedon, the ADB Pakistan country director, and Muhammad Saleem Sethi, joint secretary for the Ministry of Economic Affairs and Statistics.
MICROCAPITAL BRIEF: Money Fellows of Egypt Borrowing $2.2m from Symbiotics to Support Digital ROSCAs
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle-income countries, recently issued a loan of USD 2.25 million to Egypt-based Money Fellows. Money Fellows plans to use the fresh capital to expand its digitization of rotating savings and credit associations (ROSCAs), also known as money circles, as well as to broaden
MICROCAPITAL BRIEF: DFIs Invest $109m in Horizon Capital IV to Support SMEs in Ukraine, Moldova
Six public-sector organizations recently invested in the second funding round of Horizon Capital IV with the goal of enabling the equity fund to supply more working capital to “fast-growing, technology-enabled small and medium-size businesses” in Ukraine and Moldova. The fund also seeks to
MICROCAPITAL BRIEF: FINCA Microfinance Bank, Millat Tractors Partner to Serve Farmers in Pakistan
Pakistan-based FINCA Microfinance Bank, a for-profit entity whose name derives from the US-based Foundation for International Community Assistance (FINCA International), recently announced a partnership with Pakistan-based Millat Tractors to increase the availability of machinery to farmers in the country. Under the new arrangement, customers of FINCA Pakistan are able to