The government of the Nigerian state of Lagos, in partnership with its Lagos State Microfinance Institution (LASMI), has reportedly established a microcredit fund for artisans with the aim of alleviating poverty in the state.
Category: Deals
MICROCAPITAL BRIEF: Clinton Bush Haiti Fund (CBHF) to Grant $850k to Rebuild Microfinance Institution Fonds Haïtien d’Aide à la Femme (FHAF)
The Clinton Bush Haiti Fund (CBHF), a US-based nonprofit organization, will provide a grant of USD 850,000 to Fonds Haïtien d’Aide à la Femme (FHAF), a Haitian microfinance institution (MFI), to help reinvigorate its lending operations.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $14m to Banca Intesa Beograd of Serbia for On-Lending to Small and Medium-Sized Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a development finance institution based in the United Kingdom, has agreed to loan EUR 10 million (USD 14 million) to Banca Intesa Beograd, a Serbian commercial bank, to facilitate on-lending to small and medium-sized enterprises (SMEs) in the country.
MICROCAPITAL BRIEF: Global Partnerships, Sustainable Harvest Collaborate to Provide $963k in Microloans to Coffee Cooperatives Aprocassi of Peru, Café y Desarrollo/REDCAFES of Mexico
Global Partnerships (GP), a US-based nonprofit investor in microfinance institutions (MFIs), recently announced that it partnered with Sustainable Harvest, a US-based specialty coffee importer focused on sustainable supply chain practice, to provide USD 963,000 in loans to two fair-trade coffee cooperatives based in Latin America: USD 465,000 to Aprocassi of Peru and USD 498,000 to Café y Desarrollo/REDCAFES of Mexico.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Funds $80m Liquidity Facility to Bangladeshi Local Banks to Meet Small and Medium-Sized Enterprise (SME) Funding Needs
The International Finance Corporation (IFC), the private investment arm of the World Bank Group, recently announced it has provided a USD 80 million short-term liquidity facility to local commercial banks in Bangladesh to meet the working capital and trade financing needs following recent market disruptions that have reportedly decreased the availability of foreign exchange in the country.
MICROCAPITAL BRIEF: Compartamos of Mexico Completes Acquisition of Majority Stake in Financiera Créditos Arequipa (Financiera Crear) of Peru
Compartamos, a holding company established in Mexico in 2010 with microfinance institution (MFI) Banco Compartamos as its only subsidiary, recently announced that upon receiving the approval of the Peruvian Securities and Exchange Commission, it settled the acquisition of an 82.7 percent stake in Financiera Créditos Arequipa SA (Financiera Crear), a Peruvian MFI, for USD 63 million. The transaction was initially announced by MicroCapital in March 2011. Banco Compartamos Director of Strategy Javier Fernández Cueto stated that this type of acquisition
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Provide $4.6m Equity Investment and $9m Loan to Caja Nuestra Gente of Peru
International Finance Corporation (IFC), the private investment-arm of the World Bank Group, recently announced it will make an equity investment of USD 4.6 million and a medium-term loan of USD 9 million in Caja Nuestra Gente, a microfinance institution (MFI) in Peru owned by Spain’s BBVA Microfinance Foundation (FMBBVA).
MICROCAPITAL BRIEF: IFC to Make Equity Investment of $1m in Microfinance Institution Advans Cote d’Ivoire
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, will invest USD 1 million in Advans Cote d’Ivoire, a member of the Advans SA group of microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Habitat for Humanity Receives $45m Loan from Overseas Private Investment Corporation (OPIC), to Be On-Lent to Microfinance Institutions Through Housing Finance Programs
The Overseas Private Investment Corporation (OPIC), a US government agency that supports private sector development, has approved a USD 45 million loan to Habitat for Humanity International (HFHI), a nonprofit, US-based Christian organization that builds homes for poor people, to promote and expand housing microfinance lending.
MICROCAPITAL BRIEF: responsAbility Loans $8m to Kompanion of Kyrgyz Republic, Eskhata of Tajikistan, XacBank of Mongolia
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it made debt investments totaling USD 8 million through MIVs it manages in the following institutions: USD 3 million to Kompanion Financial Group Microfinance Closed Joint Stock Company, an MFI in Kyrgyzstan; USD 2 million to Eskhata Bank, an institution in Tajikistan that lends to micro- and small businesses; and USD 3 million to XacBank, a community development MFI in Mongolia.
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) to Guarantee $500m in Loans to Microfinance Institutions (MFIs) for Lending to Small and Medium-Sized Enterprises (SMEs) in Egypt, Jordan; USAID to Fund Technical Assistance
The Overseas Private Investment Corporation (OPIC), a US government agency that supports private sector development, has approved USD 250 million in loan guarantee facilities each in Egypt and Jordan for local banks that lend to small and medium-sized enterprises (SMEs), microfinance institutions (MFIs), non-banking financial institutions (NBFIs) and “other approved borrowers.”
MICROCAPITAL BRIEF: responsAbility Loans $24m to Microfinance Institutions (MFIs) Inecobank, Agricultural Cooperative Bank of Armenia (ACBA), ACBA Leasing all of Armenia; DemirBank of Azerbaijan; Sekerbank of Turkey
responsAbility Social Investments AG, a Swiss investment company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totaling USD 24 million in microfinance institutions (MFIs) Inecobank, Agricultural Cooperative Bank of Armenia (ACBA) and ACBA leasing of Armenia; DemirBank of Azerbaijan; and Sekerbank of Turkey. The investments have been made through three MIVs: responsAbility Global Microfinance Fund (rAGMF), responsAbility Microfinance Leaders Fund (rAMLF) and responsAbility Mikrofinanz-Fonds.
MICROCAPITAL BRIEF: Working Capital for Community Needs (WCCN) Loans $902k to Fundación de Apoyo Comunitario y Social del Ecuador (FACES), Federación Regional de Asociaciones de Pequeños Cafetaleros Ecológicos del Sur del Ecuador (FAPECAFES), Asociación de Productores Agropecuarios del Valle Alto Mayo (APAVAM) of Peru
Working Capital for Community Needs Incorporated (WCCN), a nonprofit organization that organizes financial partnerships among individuals and organizations in Latin America and the US, recently reported to MicroCapital that it made debt investments totaling USD 902,000 to the following organizations: USD 400,000 to Fundación de Apoyo Comunitario y Social del Ecuador (FACES), an Ecuadorian microfinance institution (MFI); USD 370,600 to Federación Regional de Asociaciones de Pequeños Cafetaleros Ecológicos del Sur del Ecuador (FAPECAFES), a coffee cooperative in Ecuador; and USD 131,600 to Asociación de Productores Agropecuarios del Valle Alto Mayo (APAVAM), a coffee cooperative in Peru.
MICROCAPITAL BRIEF: Dual Return Fund of Vision Microfinance Loans $3m to Microfinance Institutions in Mongolia, Georgia, Azerbaijan, Kyrgyzstan, Ecuador
Absolute Portfolio Management GmbH, an Austrian investment company that specializes in microfinance, recently reported that its Dual Return Fund, a sub-fund of Vision Microfinance, made debt investments totaling USD 3 million in unnamed microfinance institutions (MFIs) in Mongolia, Georgia, Azerbaijan, Kyrgyzstan and Ecuador.
MICROCAPITAL BRIEF: responsAbility Loans $27m to Microfinance Institution Prizma of Bosnia and Herzegovina; Russia’s Forus Bank, NBD Bank, FINCA Russia
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments worth the equivalent of USD 27.4 million in NBD Bank, a commercial bank in Russia, and three microfinance institutions (MFIs): Microcredit Foundation Prizma of Bosnia and Herzegovina; FINCA Russia; and Forus Bank, also of Russia.
MICROCAPITAL BRIEF: Creation Investments, Promus Equity Partners Raise $5.5m in Equity For Mobile Banking Technology Provider Eko India
Eko India Financial Services Private Limited, a mobile banking technology provider and business correspondent (BC) for State Bank of India and India’s ICICI Bank, has raised USD 5.5 million in “growth equity” through an investment campaign led jointly by Creation Investments Capital Management LLC and Promus Equity Partners, two private investment funds based in the US.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to Microfinance Institution (MFI) Bai Tushum of Kyrgyz Republic
The European Bank for Reconstruction and Development (EBRD), a development finance institution, has agreed to make a three-year, local-currency loan of KGS 270 million (USD 6 million) to Bai Tushum and Partners, a non-banking microfinance institution (MFI) operating in the Kyrgyz Republic.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Commits $42m to UniCredit to Boost SMEs in Russia
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in the UK, recently announced that it will lend RUB 2.0 billion