responsAbility Social Investments AG, an investment company based in Switzerland, has recently reported to MicroCapital that it has made loans totaling the equivalent of USD 2.9 million to microfinance institutions (MFIs) in Cambodia, Tajikistan and the Philippines.
Category: Deals
MICROCAPITAL BRIEF: responsAbility Social Investments Loans Total of $5.8m to Banco Solidaro of Ecuador, Fundación de Apoyo Comunitario y Social del Ecuador (FACES) of Ecuador, Edpyme Alternativa of Peru, Apoyo Integral of El Salvador
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made loans totaling approximately USD 5.8 million to microfinance institutions (MFIs) in Ecuador, Peru and El Salvador.
MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Loans $11m to Indian Microfinance Institutions via UTI Fund
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it invested approximately USD 11 million in an unspecified Indian money market fund via the UTI Wealth Creator 4 fund, which is organized under UTI International Limited, a subsidiary of UTI Asset Management Company of India.
MICROCAPITAL BRIEF: East African Community (EAC), World Bank Sign $16m Grant Agreement for Financial Sector Development and Regionalization Project
The East African Community (EAC), an intergovernmental organization whose members include Kenya, Uganda, Tanzania, Rwanda and Burundi, recently announced that it received a USD 16 million grant from the World Bank, a multilateral development finance organization based in Washington, DC, for its Financial Sector Development and Regionalization Project (FSDRP).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Grants $771k to Bank South Pacific (BSP) Rural Through Pacific Microfinance Initiative to Bring Electronic Banking Services to Rural Entrepreneurs in Papua New Guinea
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington, DC, recently provided Bank South Pacific (BSP) Rural, a subsidiary of the privately-owned commercial bank BSP, a USD 771,000 “performance-based” grant through the Pacific Microfinance Initiative, a joint effort between the Australian government and IFC, to bring electronic banking services to small business owners in Papua New Guinea.
MICROCAPITAL BRIEF: Global Partnerships (GP) Loans Total of $3m to Crediflorida and Fondo de Desarrollo Regional (Fondesurco) of Peru, Fundación Realidad Asociación Civil (FRAC) of Mexico and Fundación para el Desarrollo Microempresarial (D-Miro) of Ecuador
Global Partnerships (GP), a US-based nonprofit organization that supports microfinance institutions (MFIs) in Latin America, recently reported to MicroCapital that it disbursed loans totaling USD 3 million from its Social Investment Fund 2010 (SIF 2010) to four MFIs in Latin America.
MICROCAPITAL BRIEF: SNS Asset Management of Netherlands Launches SNS Impact Investing with $400m Managed for Microfinance, Agriculture, Water
SNS Asset Management (SNS AM), a Dutch fund manager, has announced the launch of its impact investing unit, SNS Impact Investing, which will focus on investments in microfinance, sustainable agriculture and water. The new unit will consist of a team of ten people, headed by Harry Hummels, who serves as a board member of SNS AM, and Theo Brouwers, who is a director of SNS AM.
MICROCAPITAL BRIEF: Belgian Incofin Loans $1.5m to TenGer Financial Group of Mongolia
Incofin cvso, a Belgian cooperative company that invests in microfinance, recently loaned MNT 41 million (USD 1.5 million) to Tenger Financial Group, a Mongolian Company that controls XacBank LLC, XacLeasing LLC, Horus Nomadic Solutions LLC and TenGer Insurance LLC. Founded in 2001, the group was formed following the merger of Goviin Ehlel (renamed XAC-GE Holding) and X.A.C. (renamed XacBank), two non-bank financial institutions that focus on micro-, small and medium enterprises.
MICROCAPITAL BRIEF: Inter-American Investment Corporation (IIC) Approves $15m Loan for Microfinance Institutions in Peru
The Inter-American Investment Corporation (IIC), a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group, recently approved funding of up to USD 15 million for a program in Peru that is intended to expand lending to individuals for home purchases and remodeling and business lending to micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: State Bank of India, ICICI Bank Partnering With Mobile Providers Bharti Airtel, Vodafone Essar to Expand Banking Options
Indian mobile service provider Vodafone Essar will become a business correspondent of ICICI Bank, while competitor Bharti Airtel has announced a joint venture with the State Bank of India (SBI).
MICROCAPITAL BRIEF: responsAbility Social Investments Announces Equity Investment in PlaNet Finance Investment Services (PlaNIS)
responsAbility Social Investments AG, an investment company based in Switzerland, has recently invested an undisclosed amount in PlaNet Finance Investment Services (PlaNIS), a subsidiary of Paris-based nongovernmental organization(NGO) PlaNet Finance. PlaNIS is a limited liability company that advises social investment funds in the areas of sourcing, due diligence and risk assessment of microfinance investments. The subsidiary will now operate under the name PlaNIS responsAbility SAS.
MICROCAPITAL BRIEF: responsAbility Social Investments Makes Loans Totaling $12.5m to Belarusian Bank for Small Business (BBSB) of Belarus, Khan Bank of Mongolia, XacBank of Mongolia
responsAbility Social Investments AG, an investment company based in Switzerland, recently invested USD 12.5 million across three financial institutions based in Belarus and Mongolia.
MICROCAPITAL BRIEF: In Partnership With Banco Itaú Europa, Commerzbank, Israel Discount Bank and Banco Security, International Finance Corporation (IFC) Syndicates $45m to Banco Industrial do Brasil (BIB) to Support Small and Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington, DC, recently disbursed a syndicated loan equivalent to USD 45 million to Banco Industrial do Brasil (BIB), a commercial bank based in São Paulo, Brazil, with the intent of increasing financing initiatives for small and medium-sized enterprises (SMEs) in Brazil.
MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $2m to FINCA DRC of Democratic Republic of the Congo, First Allied Savings and Loans Limited (FASL) of Ghana
responsAbility Social Investments AG, an investment company based in Switzerland, has recently reported to MicroCapital that it has made loans totaling USD 2 million to microfinance institutions (MFIs) in Democratic Republic of the Congo and Ghana.
MICROCAPITAL BRIEF: Global Partnerships (GP) Loans a Total of $1.5m to Fondo de Desarrollo Comunal (FONDECO) of Bolivia and Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras
Global Partnerships (GP), a US-based nonprofit organization that supports microfinance institutions (MFIs) in Latin America, recently reported to MicroCapital that it disbursed loans from its Social Investment Fund 2010 (SIF 2010) totaling USD 1.5 million to two MFIs in Latin America.
MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $10m to FINCA International Subsidiaries in Azerbaijan, Russia, Ecuador and Mexico
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has invested loans approximately equivalent to USD 10.2 million to FINCA International subsidiaries in Azerbaijan, Russia, Ecuador and Mexico. FINCA International is a global microfinance network operating in 21 countries reporting total assets of USD 467 million as of 2009 [2].
MICROCAPITAL BRIEF: Citi Foundation, Russian Microfinance Center to Train MFIs to Train their Borrowers in Entrepreneurship
Citi Foundation, the charitable arm of global financial services provider Citigroup, has partnered with the Russian Microfinance Center (RMC), a professional association that supports microfinance operators in Russia, to facilitate business development for start-up entrepreneurs in Russia.
MICROCAPITAL BRIEF: Asian Development Bank, Government of Japan Invest $2m for Bangladeshi Remittance Service, Financial Literacy Training
The board of directors of the Asian Development Bank (ADB), a development finance organization based in Manila, Philippines, has approved a USD 2 million grant from the Japan Fund for Poverty Reduction, an investment fund that is administered by ADB and funded by the government of Japan, for the development of remittance services for Bangladeshi migrant workers.