International Finance Corporation (IFC), a member of the World Bank Group, is acquiring an 18 percent stake in the National Rural Support Programme Microfinance Bank (NRSP MF Bank), a Pakistani microfinance institution (MFI), in an effort to increase access to finance for farmers [1]. The investment will support the bank in its efforts to provide farmers with the access to crop and livestock loans and develop deposit products [1].
Category: Deals
MICROCAPITAL BRIEF: Promotion et Participation pour la Cooperation Economique (PROPARCO), Grameen Credit Agricole Microfinance (GCAMF) Loan $10m to Microfinance Institution (MFI) Kenya Women Finance Trust (KWFT)
Grameen Credit Agricole Microfinance Foundation (GCAMF), based in Luxembourg, recently reported to MicroCapital that it has partnered with Promotion et Participation pour la Cooperation Economique (PROPARCO), a development finance institution based in France, to provide a credit line of KES 750 million (USD 10 million) to Kenya Women Finance Trust (KWFT), a microfinance institution (MFI) that serves exclusively women microentrepreneurs.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $89m to Finance Small and Medium-Sized Enterprises (SMEs) Through ProCredit Bank Moldova and UniCredit Bank Serbia
The European Bank for Reconstruction and Development (EBRD), a multilateral finance institution based in London, is providing loans to banks in Serbia and Moldova in an effort to increase access to finance for micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: Canada’s Michael O’Brian Foundation Pledges $257,000 to Riskebiz Microfinance Fund
The Michael O’Brian Family Foundation, which is based in Vancouver, Canada, recently pledged CAD 250,000 (USD 257,000) to the Riskebiz Microfinance Fund (Riskebiz), a microfinance investment fund also based in Vancouver [1].
MICROCAPITAL BRIEF: ACCION International Issues Credit Guarantees Totaling $1.5m to Indian Microfinance Institutions (MFIs) Swadhaar FinServe, Saija
ACCION International (ACCION), a private, US-based nonprofit organization with a global network of microfinance institutions (MFIs), recently issued two standby letters of credit (SBLC) totaling USD 1.5 million for two of its Indian partner microfinance institutions (MFIs) to secure loan facilities.
MICROCAPITAL BRIEF: Mexican Microfinance Institution (MFI) Financiera Independencia Announces Completion of Acquisition of Apoyo Financiero Incorporated (AFI) of California
Financiera Independencia, a Mexican microfinance institution (MFI) recently announced the closure of its acquisition of 77 percent of the shares of Apoyo Financiero Incorporated (AFI), an MFI that serves the unbanked Hispanic community in the US State of California.
MICROCAPITAL BRIEF: responsAbility Social Investments of Loans $8m to Contactar of Colombia, Vision Banco of Paraguay, Forjadores de Negocios of Mexico and Ecuadorian Microfinance Institutions (MFIs) COAC Progreso, Fundación Alternativa
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made debt investments totaling the equivalent of approximately USD 8.25 million in microfinance institutions (MFIs) in Colombia, Ecuador, Paraguay and Mexico.
MICROCAPITAL BRIEF: The European Fund for Southeast Europe (EFSE) Lends $5m to Minsk Transit Bank of Belarus
Finance in Motion, a Frankfurt-based asset management firm focused on development finance, recently reported to MicroCapital that the European Fund for Southeast Europe (EFSE), a microfinance institution investment fund that it advises, made a debt investment of USD 5 million in Minsk Transit Bank, a joint stock company in Belarus [1].
MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $3m to Gata Daku of the Philippines; Koperasi Mitra Dhuafa (Komida) of Indonesia; and Cambodian Microfinance Institutions (MFIs) AMRET, Sathapana and Thaneakea Phum Cambodia Limited (TPC)
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made loans totaling the equivalent of USD 3.06 million to microfinance institutions (MFIs) in Cambodia, the Philippines and Indonesia [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Promote Energy Efficiency Through Memorandum of Understanding (MOU) with Government of Bulgaria, $9.7m Loan to Moldovan Bank BCR Chisinau
In its effort to boost energy efficiency in Eastern Europe, the European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, recently signed a memorandum of understanding (MOU) with the government of Bulgaria and loaned EUR 7 million (USD 9.7 million) to BCR Chisinau, a Moldovan commercial bank.
MICROCAPITAL BRIEF: Tajikistan Microfinance Institutions (MFIs) Arvand, Bank Eskhata, FINCA Tajikistan, Oxus Microfinance Borrow $4.7m From responsAbility Social Investments of Switzerland
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made loans totaling USD 4.7 million to microfinance institutions (MFIs) in Tajikistan.
MICROCAPITAL BRIEF: In Partnership with BlueOrchard and responsAbility Social Investments AG, Inter-American Development Bank (IDB) Syndicates $40m to Banco Continental of Paraguay to Support Small and Medium-Sized Enterprises (SMEs)
The Inter-American Development Bank (IDB), a US-based multilateral development organization operating in Latin America and the Caribbean, recently finalized a USD 40 million syndicated loan to Banco Continental, a commercial bank established in Paraguay in 1980, to help fund lending to small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), Crédit Agricole Serbia Accept Warehouse Receipts as Collateral for $27m in Loans to Agribusinesses
The European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, and Crédit Agricole Serbia, a subsidiary of financial institution Crédit Agricole of France, have recently partnered to accept warehouse receipts as collateral for loans totaling EUR 20 million (USD 27.4 million) to agribusinesses in Serbia.
MICROCAPITAL BRIEF: Daiwa Securities Group of Japan Raises $236m for Retail Microfinance Fund to Be Managed by Developing World Markets (DWM) Asset Management LLC of USA
Daiwa Securities Group Incorporated, a Tokyo-based financial services holding company, recently announced the opening of an investment trust fund in Japan that will invest directly in microfinance institutions (MFIs) in developing countries.
MICROCAPITAL BRIEF: Indian Microfinance Institution Grameen Koota Raises $8m through Nonconvertible Debentures
Grameen Koota, a division of Grameen Financial Services Private Limited, has raised INR 35 crore (USD 7.71 million) of debt capital through the issuance of secured, redeemable, nonconvertible debentures (NCDs) to Developing World Markets Limited, a member of US-based asset manager and investment bank Developing World Markets (DWM) Group.
MICROCAPITAL BRIEF: MicroCred Senegal, Middle East Micro Credit Company (MEMCC) of Jordan Borrow $2m From responsAbility Social Investments of Switzerland
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made local currency loans totaling the equivalent of USD 2 million to microfinance institutions (MFIs) in Senegal and Jordan.
MICROCAPITAL BRIEF: European Investment Fund (EIF) of Luxembourg Makes $1m Equity Investment in Italian Microfinance Institution (MFI) PerMicro
The European Investment Fund (EIF), a European Union agency that finances small and medium-sized enterprises (SMEs), recently made its first direct equity investment in a microfinance institution (MFI), thus acquiring 20.4 percent of the shares in PerMicro, an Italian MFI for EUR 1 million (USD 1.3 million) [1]. The investment is intended to facilitate the offering of loans of up to EUR 25,000 (USD 34,400) from PerMicro to microentrepreneurs to start or expand businesses.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB), Oikocredit, Incofin, Calvert Foundation Make Syndicated Loan of $9m to Cooperativa de Ahorro y Crédito (COAC) Jardín Azuayo of Ecuador
The Inter-American Development Bank (IDB), a US-based, multilateral, development finance organization, recently announced that it has syndicated a USD 9 million loan to Cooperativa de Ahorro y Crédito (COAC) Jardín Azuayo, a savings and credit cooperative in Ecuador. USD 3 million of the loan has been funded by IDB, the lead arranger in the transaction, through its “Opportunities for the Majority” initiative. The remaining USD 6 million was funded by the following three impact investors: Oikocredit, a Dutch cooperative investment fund that invested USD 3 million [2]; Incofin, a Belgian investment management firm that invested USD 2 million [3]; and Calvert Foundation, a private US foundation that invested the remaining USD 1 million [4].