In an effort to support local-currency lending to micro- and small enterprises (MSEs) in remote areas of Kyrgyzstan, the European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, has made a loan of approximately KGS 142 million (USD 3 million) to Kompanion Financial Group, a microfinance company specializing in community development in Kyrgyzstan. Established in 2004 by US-based nonprofit Mercy Corps, Kompanion Financial Group maintains a network of 90 branches across the seven regions of Kyrgyzstan with approximately 90 percent of the company’s clientele located outside of the country’s capital, Bishkek.
Category: Deals
MICROCAPITAL BRIEF: European Fund for Southeast Europe Loans $10m to Megabank of Ukraine with Focus on Microfinance
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg in 2005, recently reported to MicroCapital that it made a debt investment of USD 10 million in Megabank of Ukraine, a commercial bank serving both corporate and individual clients.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $3m to Mol Bulak Finance of the Kyrgyz Republic for On-Lending to Small and Medium Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, has agreed to provide a loan of approximately KGS 142 million (USD 3 million) to Mol Bulak Finance, a non-bank microfinance institution, to support small and medium enterprises (SMEs) in the Kyrgyz Republic.
MICROCAPITAL BRIEF: Corporacion Andina de Fomento (CAF) Approves Increase in Credit Line to Banco ProCredit Ecuador from $8m to $12m
Corporacion Andina de Fomento (CAF), a development finance organization that was founded in 1970 and is headquartered in Caracas, Venezuela, recently increased its credit line to Banco ProCredit Ecuador, a bank that provides financial services to micro-, small and medium-sized enterprises, from USD 8 million to USD 12 million.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $35m in Equity of Indian Microfinance Institution (MFI) Bandhan Financial Services
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington DC, will make an INR 1.6 billion (USD 35.1 million) equity investment in Bandhan Financial Services, a microfinance institution (MFI) based in Kolkata, India, to expand its operations in the country. The deal is reportedly the largest equity investment in an Indian MFI since the turmoil in the microfinance industry in Andhra Pradesh began in late 2010.
MICROCAPITAL BRIEF: Grameen Foundation Bankers Without Borders Initiative Provides $150,000 in Funding for Alliance Program to Expand Volunteer Work in Sub-Saharan Africa
Bankers Without Borders, which is an initiative of US-based nongovernmental organization (NGO) Grameen Foundation, recently announced a second round of funding for its Alliance Program in the amount of USD 150,000, which is intended to engage active and retired business professionals as a resource for microfinance and other development initiatives.
MICROCAPITAL BRIEF: BNP Paribas Loans $4.65m to The Lead Foundation to Support Microfinance in Egypt, United States Agency for International Development Egypt (USAID/Egypt) Guarantees 50% of Principal
The United States Agency for International Development’s Egypt branch (USAID/Egypt), a division of USAID aimed at supporting economic development in Egypt, and BNP Paribas, a financial services provider based in France, recently agreed to a deal that has BNP Paribas loaning EGP 27 million (USD 4.65 million) to The Lead Foundation (Lead), an Egyptian microfinance NGO that was founded in part by USAID. USAID/Egypt is guaranteeing 50 percent of the principal amount.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Proposes $10m Investment in Shree Mahila Self Employed Women’s Association (SEWA) Bank of Gujarat, India, for Microfinance
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington DC, has submitted a proposal to its board of directors for an investment of up to USD 10 million in Shree Mahila Self Employed Women’s Association (SEWA) Bank, subject to regulatory approval by the Reserve Bank of India (RBI).
MICROCAPITAL BRIEF: Inter-American Development Bank’s Multilateral Investment Fund Makes Local-Currency Debt Investment Worth $1.6m to Fondo Esperanza of Chile and Haitian Credit Unions Caisse Populaire Marigot, Caisse Populaire Kotelam, Caisse Populaire Fraternite
In January 2011, the Inter-American Development Bank (IDB) provided MicroCapital with data pertaining to debt and equity investments made during 2010 via the Multilateral Investment Fund (MIF) and the Social Entrepreneurship Program (SEP). The investments are covered by MicroCapital in three separate briefs.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Makes $4m in Equity Investments in Solutiones de MicroFinanzas SA (Microserfin) of Panama, Banco ProCredit Honduras, enConfianza Microfinanciera of Mexico and $3.5m in Loans to Fondo de Desarrollo Regional (Fondesurco) of Peru, IFD Sembrar Sartawi of Bolivia
In January 2011, the Inter-American Development Bank (IDB) provided MicroCapital with data pertaining to debt and equity investments made during 2010 via the Multilateral Investment Fund (MIF) and the Social Entrepreneurship Program (SEP). The investments are covered by MicroCapital in three separate briefs.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) and Social Entrepreneurship Program (PES) of Inter-American Development Bank (IDB) Make $3.6m Debt Investment in Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras, Fondo de Desarrollo Comunal (FONDECO) of Bolivia, Fundacion de Apoyo Comunitario y Social del Ecuador (FACES), Alternativa Solidaria Chiapas (ALSOL) of Mexico
In January 2011, the Inter-American Development Bank (IDB) provided MicroCapital with data pertaining to debt and equity investments made during 2010 via the Multilateral Investment Fund (MIF) and the Social Entrepreneurship Program (SEP). The investments are covered by MicroCapital in three separate briefs.
MICROCAPITAL BRIEF: West African Development Bank (WADB) Loans $3m to Kafo Jiginew, a Malian Microfinance Institution (MFI) and Funder of Credit Unions
The West African Development Bank (WADB), an international development bank based in Lomé, Togo, and Kafo Jiginew, a microfinance institution (MFI) based in Mali, have come to terms on a XOF 1.5 billion (USD 3.03 million) loan to Kafo Jiginew to expand its financing of local agricultural projects, including loans to cotton growers and credit unions.
MICROCAPITAL BRIEF: Leopard Capital Acquires Stake in Cambodian Microfinance Institution (MFI) Intean Poalroath RongRoeurng (IPR)
Leopard Capital, an investment management firm founded in 2007 that invests in developing countries within Asia, recently acquired a 33.7 percent stake in the Cambodian microfinance institution (MFI) Intean Poalroath RongRoeurng (IPR) for an undisclosed sum.
MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $13m to Banco Continental of Paraguay, Financiera Confianza of Peru
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it invested the equivalent of USD 13 million in two microfinance institutions (MFIs) in South America.
MICROCAPITAL BRIEF: Mexican Microfinance Lender Financiera Independencia Acquires Apoyo Economico Familiar (AEF) of Mexico, Apoyo Financiero Incorporated (AFI) of California
Financiera Independencia, a Mexican microfinance lender with MXN 8.6 billion (the equivalent of USD 703 million) in assets, recently announced that it will acquire all of the outstanding shares of Apoyo Economico Familiar (AEF), a Mexican provider of unsecured personal loans with MXN 951 million (the equivalent of USD 77.6 million) in total assets, and purchase a 77-percent ownership stake in Apoyo Financiero Incorporated (AFI), a microfinance lender serving the unbanked Hispanic community in San Francisco, California.
MICROCAPITAL BRIEF: responsAbility Loans $8m to Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras, Apoyo Integral of El Salvador, Mutual Cartago de Ahorro y Prestamo (MUCAP) of Costa Rica, Fondo de Desarrollo Local (FDL) of Nicaragua
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it invested a total of USD 8 million in microfinance institutions (MFIs) in Latin America.
MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Loans $11.3m to PRASAC, Thaneakea Phum Cambodia Limited (TPC) of Cambodia, LOLC Micro Credit Limited (LOMC) of Sri Lanka
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it made seven investments totaling USD 11.3 million to microfinance institutions (MFIs) in Asia.
MICROCAPITAL BRIEF: KDDI Invests $22m in Microfinance International Corporation (MFIC) to Develop Global Mobile Payment Platform
KDDI Corporation, a Japanese telecommunications company that was established in 1984, has partnered with Microfinance International Corporation (MFIC), a provider of financial solutions based in Washington DC, to jointly develop a global mobile payment platform.