The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has committed to issue a BRL 50 million (USD 29.1 million) guarantee for investors in a fund that securitizes loans originated by Banco Industrial Comercial S.A.
Category: Deals
MICROCAPITAL BRIEF: Social Investment Company responsAbility Makes Debt Investments Totaling $2.5m in FINCA Kosovo and fondiBESA of Albania
responsAbility Social Investments AG (responsAbility), a social investment company founded in 2003 in Switzerland, reported to MicroCapital that it made four debt investments during the month of August totaling EUR 2 million (USD 2.5 million) to microfinance institutions (MFIs) Foundation for International Community Assistance (FINCA) Kosovo and fondiBESA of Albania.
MICROCAPITAL BRIEF: Western Union Partners with Bandhan to Provide Money Transfer Services in Rural India
In an endeavor to tap into potential clients in rural India, Western Union (WU), a company based in the US providing financial and communication services worldwide, has partnered with Bandhan, a non-banking microfinance institution in India with 2.8 million clients, to provide money transfer services to Bandhan’s microloan borrowers.
MICROCAPITAL BRIEF: MicroSave and Microfinance Focus Form Strategic Alliance to Expand Microfinance Resources
MicroSave, a microfinance consulting company established in 1998, has partnered with the Microfinance Focus website in a strategic alliance to promote microfinance knowledge sharing and dissemination with an emphasis on engaging diverse and geographically dispersed practitioners.
MICROCAPITAL BRIEF: BlueOrchard Finance Loans $1.77m to Peruvian Microfinance Institution (MFI) EDPYME Alternativa
In August 2010, BlueOrchard Finance, a Swiss based commercial microfinance intermediary which manages 6 microfinance investment vehicles (MIVs), announced that it loaned PEN 4.94 million (the equivalent of USD 1.77 million) to the Peruvian microfinance institution EDPYME Alternativa, a microfinance institution (MFI) founded in 1993.
MICROCAPITAL BRIEF: India’s Suryoday Microfinance Raises $4.5m from Lok Capital and Aavishkaar Goodwell
Suryoday Microfinance Private Limited, an Indian non-banking financial company (NBFC), recently announced the closing of its Series B equity financing for a total of INR 175 million (USD 3.8 million), provided by Lok Capital, a new investor in the company, and Suryoday’s existing investor Aavishkaar Goodwell, both of which are social investment/microfinance equity funds operating in India.
MICROCAPITAL BRIEF: India’s SKS Microfinance’s Market Capitalization Reaches $2b Subsequent to Initial Public Offering
Indian microfinance institution SKS Microfinance’s market capitalization has reached the equivalent of USD 2 billion subsequent to the launch of its initial public offering (IPO) trading commencement on the Bombay Stock Exchange and the National Stock Exchange of India on August 16, 2010, as reported by MicroCapital on August 17, 2010.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $94m Loan to Credit Europe Bank of Russia for SMEs
The European Bank for Reconstruction and Development (EBRD), a London-based development finance institution, recently announced it is providing an unsecured, five-year loan of RUB 2.9 billion (USD 94 million) to Credit Europe Bank Limited of Russia.
MICROCAPITAL BRIEF: responsAbility Social Investments AG of Switzerland Invests $4.31m in Microfinance Institutions (MFIs) ProCredit Mexico and Pro Mujer
responsAbility Social Investments AG, a Swiss microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has executed debt investments totaling the equivalent of USD 4.31 million in microfinance institutions (MFIs) ProCredit Mexico and Pro Mujer, with the loan to Pro Mujer being directed to its operations in Mexico.
MICROCAPITAL BRIEF: BlueOrchard Finance Loans $1.77m to Peruvian Microfinance Institution (MFI) EDPYME Alternativa
In August 2010, BlueOrchard Finance, a Swiss based commercial microfinance intermediary which manages 6 microfinance investment vehicles (MIVs), announced that it loaned PEN 4.94 million (the equivalent of USD 1.77 million) to the Peruvian microfinance institution EDPYME Alternativa, a microfinance institution (MFI) founded in 1993.
MICROCAPITAL BRIEF: responsAbility Microfinanz-Fonds and responsAbility Global Microfinance Fund Loan $4m to Central Asian Microfinance Institutions Bank Eskhata of Tajikistan and VF AzerCredit LLC of Azerbaijan
responsAbility Microfinanz-Fonds and responsAbility Global Microfinance Fund (rAGMF), microfinance investment vehicles managed by responsAbility Social Investments AG of Switzerland, recently reported to MicroCapital the details of four debt investments made during the month of August 2010, totaling USD 4 million, to microfinance institutions (MFIs) Bank Eskhata of Tajikistan and VF AzerCredit LLC of Azerbaijan.
MICROCAPITAL BRIEF: BlueOrchard Invests $8.7m in Eastern European Microfinance Institutions KEP Trust of Kosovo and ProCredit Bank of Romania
BlueOrchard, a Switzerland-based commercial microfinance intermediary, recently reported to MicroCapital the details of two debt investments made during the month of August 2010, totaling the equivalent of USD 8.74 million, to microfinance institutions (MFIs) KEP Trust of Kosovo and ProCredit Bank of Romania.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC), Bank Sinar Harapan Bali and AXIS Launch Mobile-Banking Project to Expand Financial Access in Indonesia
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, together with Bank Sinar Harapan Bali, a subsidiary of the Indonesian Bank Mandiri, and AXIS, an Indonesian mobile phone service provider, have launched a mobile-banking project in an effort to establish low-cost banking that will help expand access to basic financial services.
MICROCAPITAL BRIEF: Dutch Government, Netherlands Development Finance Company (FMO) Loan $15.5m to The Not One The Same (NOTS) Microfinance Fund
Not One The Same (NOTS) Foundation, a Dutch non-governmental organization (NGO) established in 2003, has raised EUR 12 million (USD 15.5 million) from the Dutch government and its international development bank, the Netherlands Development Finance Company (FMO), to be invested in the NOTS Microfinance Fund. Triple Jump, a Dutch microfinance investment manager founded in 2006, is responsible for portfolio management, asset selection and deal execution of the NOTS Microfinance Fund.
MICROCAPITAL BRIEF: Turkish Microfinance Institutions (MFIs) Maya Enterprise for Microfinance and Turkish Grameen Microcredit Program (TGMP) Receive $5m from Grameen-Jameel
Grameen-Jameel, a joint venture founded in 2007 by the US-based Grameen Foundation and Grow Well Limited of Saudi Arabia, announced that it will provide technical assistance and financial support amounting to USD 5.2 million to Turkish microfinance institutions (MFIs) Turkish Grameen Microcredit Program (TGMP) and Maya Enterprise for Microfinance.
MICROCAPITAL BRIEF: Good Capital Invests $200,000 in Microfinance Services of Root Capital
Good Capital, a US-based firm that manages socially responsible investments, announced a USD 200,000 subordinated loan to Root Capital, a US-based nonprofit social investment fund that was founded in 1999.
MICROCAPITAL BRIEF: Microfin Private Limited Disburses $746,000 in Loans to Indian Microfinance Institution (MFI) Suryoday Micro Finance Private Limited
Microfin Private Limited, a Bangalore-based non-banking financial company (NBFC) that provides financial services to MicroVentures India, has announced the disbursement of a INR 35 million (USD 746,000) loan to Indian microfinance institution (MFI), Suryoday Micro Finance Private Limited.
MICROCAPITAL BRIEF: State Banks to Offer Microfinance Services at Post Offices in Thailand
Thailand post offices nationwide could be transformed into microfinance outlets as part of the government’s bid to extend financial services to lower-income groups, said Finance Minister Korn Chatikavan.