Global Partnerships (GP), a microfinance organization with offices in the United States and Nicaragua, recently reported to MicroCapital that it made debt investments worth USD 1 million to microfinance institutions (MFIs) in El Salvador and Mexico.
Category: Deals
MICROCAPITAL BRIEF: MicroCred Holding, MicroCred China Receive Capital Increases Totaling $31m, Including Participation From AXA Belgium, Developing World Markets, IFC, KfW
MicroCred Holding, a microfinance investment company created by French nongovernmental organization (NGO) PlaNet Finance, and its subsidiary, MicroCred China, recently announced two capital increases totaling the equivalent of USD 31.1 million.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $21m to Microfinance Institution (MFI) ProCredit Bank Bulgaria
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, recently loaned USD 21.2 million in two segments to ProCredit Bank Bulgaria, a microfinance institution (MFI) that provides financing to micro-, small and medium-sized enterprises.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG) Subscribe to Convertible Bonds Issued by Azerbaijan’s Unibank, Provider of Microfinance and Traditional Banking
European development finance institutions, European Bank for Reconstruction and Development (EBRD) and Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG), have subscribed to convertible bonds issued by Unibank, a private commercial bank in Azerbaijan that provides microfinance and other services. EBRD has purchased USD 17.5 million in convertible bonds and DEG has committed to purchasing bonds worth USD 7.5 million [1]. The convertible bond facility was designed to support Unibank’s capital base as well as to provide long-term liquidity for continued lending to small and medium-sized enterprises and retail customers. The terms of the convertible bonds have not been reported.
MICROCAPITAL BRIEF: HSBC Allocates $2m for Distribution Via Shariah-Compliant Microfinance Branches of PT Permodalan Nasional Madani (PNM) of Indonesia
HSBC Amanah Shariah, the Islamic financial services division of the HSBC Group, a banking and financial services organization based in the United Kingdom, recently announced that it would allocate IDR 18.5 billion (USD 2.12 million) to the development of micro-, small and medium-sized enterprises (MSMEs) through PT Permodalan Nasional Madani (PNM), an Indonesian state financial institution, under an agreement that complies with Islamic law, also known as the Shariah.
MICROCAPITAL BRIEF: Global Partnerships Social Investment Fund (SIF) 2010 Loans $3m to Sartawi, FONDECO of Bolivia and Espoir of Ecuador for Microfinance
Global Partnerships (GP), a microfinance organization based in the United States, recently reported to MicroCapital that it made debt investments totaling USD 3 million in microfinance institutions in Latin America.
MICROCAPITAL BRIEF: Microinsurance Catastrophe Risk Organization (MiCRO) Created to Help Protect Microentrepreneurs in Haiti
A donor-capitalized insurance facility, Microinsurance Catastrophe Risk Organization (MiCRO), has been developed by a syndicate of stakeholders in an effort to empower Haiti’s microentrepreneurs to protect themselves against the economic aftermath of natural catastrophes.
MICROCAPITAL BRIEF: Microfinance Institution AccessBank of Azerbaijan Receives First $10m Tranche of $20m Loan From Netherlands Development Finance Company (FMO) and Oesterreichische Entwicklungsbank AG (OeEB)
AccessBank, a microfinance institution (MFI) based in Azerbaijan, has received the first tranche of USD 10 million as part of a USD 20 million syndicated loan from Netherlands Development Finance Company (FMO), a Dutch public-private partnership that aims to promote developing economies, and Oesterreichische Entwicklungsbank AG (OeEB), the development bank of Austria. The three-year syndicated loan was organized by FMO with participation from OeEB, with each institution contributing USD 10 million. The loan will be directed to financing micro- and small businesses in Azerbaijan.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $100m in Sagicor Financial of Barbados to Develop Caribbean Insurance Industry, Including Through Microfinance Institutions (MFIs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently agreed to invest up to USD 100 million in Sagicor Financial Corporation, a financial institution based in Barbados, to develop the market for insurance products in the Caribbean.
MICROCAPITAL BRIEF: Peruvian Microfinance Institution (MFI) Mibanco Seeks $60m Syndicated Loan from International Finance Corporation (IFC), Grupo ACP Issues $85m in Bonds
Mibanco, a Peruvian microfinance institution (MFI), is seeking a syndicated loan in an amount equivalent to USD 60 million from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group.
MICROCAPITAL BRIEF: responsAbility Makes Debt Investments Worth $7.5m in FINCA Kyrgyzstan, Mol Bulak of Kyrgyzstan, Constanta of Georgia, BZMF of Kosovo, GafGaz Leasing of Azerbaijan
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it invested the equivalent of USD 7.5 million in microfinance organizations in Kosovo and Central Asia.
MICROCAPITAL BRIEF: European Commission’s “European Progress Microfinance Facility” Looks to Ease Access to Credit for Small-business, Signs Agreement with Mikrofond AD of Bulgaria
The European Progress Microfinance Facility, which seeks to enable microfinance institutions (MFIs) within the European Union (EU) to increase lending to entrepreneurs by issuing guarantees, loans and equity financing to MFIs, has signed an agreement to supply Bulgarian MFI Mikrofond AD with an undisclosed amount of funding [1]. Mikrofond AD was established in 1999 with the goal of financing Bulgarian entrepreneurs who do not have access to the traditional banking system. As of 2010, Mikrofond reports 10 branches and having disbursed 9,000 loans with a total value of BGN 57 million (USD 41.3 million).
MICROCAPITAL BRIEF: Microfinance Investment Vehicle BlueOrchard Private Equity Fund Completes First Distribution to Investors of $7.5m
BlueOrchard Private Equity Fund (BOPE Fund), an investment vehicle of Switzerland-based, commercial microfinance intermediary Blue Orchard, has announced its first distribution to investors. The USD 7.5 million distribution comes three years after the fund’s first close and includes proceeds from a partial exit from indirect shareholding in TenGer Financial Group, the single owner of XacBank, a Mongolian community development bank and microfinance institution (MFI). BOPE Fund remains a direct shareholder of TenGer Financial Group which reported total assets of MNT 322 billion (USD 256 million).
MICROCAPITAL BRIEF: Standard Chartered Bank (Pakistan) Closes $6.9m Loan to Tameer Micro Finance Bank Limited (TMFB) With Support of State Bank of Pakistan’s Micro Finance Credit Guarantee Facility
Standard Chartered Bank (Pakistan) Limited, a subsidiary of UK-based Standard Chartered PLC, has closed a PKR 600 million (USD 6.95 million), two-year loan to Tameer Micro Finance Bank Limited, a licensed commercial bank that provides microfinance services in Pakistan. As of December 31, 2008, Tameer has total assets of USD 29.1 million, a gross loan portfolio of USD 11.5 million and 43,000 active borrowers.
MICROCAPITAL BRIEF: Belgium’s Incofin Loans $3.5m to Microfinance Institutions (MFIs) Forus Bank of Russia, CIDRE (Centro de Investigación y Desarrollo Regional) of Bolivia
Incofin Investment Management, a firm based in Belgium, recently made loans totaling the equivalent of USD 3.5 million to microfinance institutions (MFIs) in Russia and Bolivia.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) loans $9.8m to Romanian Microfinance Institution (MFI) Patria Credit
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, recently loaned the equivalent EUR 7 million (USD 9.86 million) to Romanian microfinance institution (MFI) Patria Credit, for on-lending to micro- and small enterprises (MSEs) in rural Romania.
MICROCAPITAL BRIEF: Mexican Microfinance Institution (MFI) Compartamos Banco to Acquire 82% Stake in Peruvian Lender Financiera Creditos Arequipa SA
Compartamos Banco, a Mexico-based microfinance institution (MFI), has announced that it plans to acquire an 82.7-percent stake in Financiera Creditos Arequipa SA (Financiera Crear), a Peruvian MFI, for USD 63 million. This acquisition is the first in Compartamos Banco’s expansion into international markets that was announced in MicroCapital stories dating back to April 2010.
MICROCAPITAL BRIEF: United Nations (UN) International Fund for Agricultural Development (IFAD) Loans $90m to Tanzanian Government to Boost Rural Microfinance, Private Sector Development
The International Fund for Agriculture and Development (IFAD), an agency of the United Nations, recently announced a USD 90 million loan to the Tanzanian government to strengthen access to finance in rural areas and to promote private sector development through its “Marketing Infrastructure, Value Addition and Rural Finance Support Program”. The loan agreement was signed in Rome by Kanayo F Nwanze, the President of IFAD and Mustafa Mkulo, the Tanzanian Minister for Finance and Economic Affairs.