Mikrofin Banja Luka, a microfinance institution (MFI) based in Bosnia and Herzegovina with total assets of USD 169 million as of 2008, has reported to MicroCapital that on July 8 it purchased 99 percent of IEFK Banja AD Banja, a bank based in Southeastern Europe which targets economic development.
Category: Deals
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) to Invest $25m in Microfinance Institutions (MFIs) Belarusian Bank for Small Business (BBSB) in Belarus, NLB Tuzlanska Banka in Bosnia and Herzegovina, and NLB Montenegrobanka in Montenegro
European Fund for Southeast Europe (EFSE), a Luxemburg-based microfinance investment vehicle (MIV), recently reported to MicroCapital that it has executed debt investments totaling USD 25 million to three microfinance institutions (MFIs) in Southeast Europe.
MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Sanchetna Financial Services Receives $320,000 from Oikocredit’s Maanaveeya Holdings and Investments, Ananya Finance for Inclusive Growth and Trust MicroFin Network (TMN)
In its July 2010 newsletter, the Indian microfinance institution (MFI) Sanchetna Financial Services reported that it will be receiving a loan of INR 10 million (USD 211,000) from Maanaveeya Holdings and Investments, the Indian subsidiary of the Dutch cooperative investment fund Oikocredit. In addition, Sanchetna will receive INR 3 million (USD 64,000) from the microfinance investment vehicle (MIV), Ananya Finance for Inclusive Growth, and INR 2 million (USD 43,000) from the nonprofit trust, Trust MicroFin Network (TMN).
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Invest $200,000 in FASO Investments and Catalyst Microfinance Investors (CMI), Which Invest in Asia and Africa
responsAbility, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has invested USD 201,000 in equity financing from two of the funds it manages in two microfinance-focused investment firms.
MICROCAPITAL BRIEF: Microfinance Institution in India, SKS Microfinance, Reports NCDs, Commercial Paper Will Help Cut Lending Rates by 200 Basis Points
In a release from IndiaMicrofinance.com, it is reported that SKS Microfinance, an Indian microfinance institution (MFI) which claimed assets of USD 596 million for 2009, will be able to lower its retail lending rates by 200 basis points to 26.3 percent by lowering its costs of funds through the issuance of non-convertible debentures (NCDs) and commercial paper.
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Lend $1.5m to Arnur Credit of Kazakhstan, AfK of Kosovo and Arvand of Tajikistan
responsAbility, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has provided USD 1.5 million in debt financing from two of the funds it manages to three microfinance institutions (MFIs) in Kosovo and Central Asia.
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Disburse $72,000 to KapitalMujer and Te Creemos of Mexico
responsAbility Global Microfinance Fund, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has provided MXN 942,000 (USD 72,000) in debt financing to two Mexican microfinance institutions (MFIs).
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Commit $3.3m to Microfinance Institutions Agricultural Cooperative Bank of Armenia (ACBA) Credit Agricole Bank and Nor Horizon Universal Credit Organization (UCO) Limited Liability Company (LLC) of Armenia
responsAbility, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has executed debt investments totaling USD 3.3 million in two microfinance institutions (MFIs) in Armenia. Agricultural Cooperative Bank of Armenia (ACBA) Credit Agricole Bank, a microfinance bank that is partially held by Credit Agricole of France, will receive USD 1 million from responsAbility Mikrofinanz-Fonds and USD 2 million from the responsAbility Global Microfinance Fund. Nor Horizon United Credit Organization (UCO) Limited Liability Company (LLC), a regulated MFI, will receive USD 300,000 from responsAbility Global Microfinance. The investment funds are two of four funds operated by responsAbility, the others being responsAbility Base of the Pyramid and responsAbility Microfinance Leaders.
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Disburse $2.5m to Bank Constanta and Credo, Microfinance Institutions in Georgia
responsAbility, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has executed debt investments totaling USD 2.5 million in two microfinance institutions (MFIs) in Georgia. Joint Stock Company (JSC) Bank Constanta, a microfinance bank in Georgia, will receive USD 375,000 from responsAbility Mikrofinanz-Fonds and USD 1.25 million from the responsAbility Global Microfinance Fund. Limited Liability Company (LLC) Microfiance Organization (MFO) Credo, a non-bank financial institution, will receive USD 400,000 from responsAbility Mikrofinanz-Fonds and USD 600,000 from responsAbility Global Microfinance Fund. The investment funds are two of four funds operated by responsAbility, the others being responsAbility Base of the Pyramid and responsAbility Microfinance Leaders.
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund Disburses $2.5m to AgroInvest in Montenegro
The responsAbility Global Microfinance Fund, a microfinance investment vehicle (MIV) founded in 2003, recently reported to MicroCapital that it has provided debt financing totaling USD 2.5 million to AgroInvest Holding of Montenegro.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) and Global Impact Investing Network (GIIN) to Share Data With $187,000 Grant From Rockefeller Foundation
The Rockefeller Foundation, a US-based grantmaking organization, has awarded a USD 187,000 grant to two other US-based nonprofits, Microfinance Information Exchange (MIX) and the Global Impact Investing Network (GIIN), to “increase transparency and comparability across microfinance and the broader impact investing industry.” The grant will be used to develop a data feed that will allow GIIN’s Impact Reporting and Investment Standards (IRIS) project, which was created to develop a common framework for defining, tracking and reporting the performance of “impact capital,” to access data from MIX.
MICROCAPITAL BRIEF: responsAbility Mikrofinanz-Fonds and responsAbility Global Microfinance Fund Loan Total of $500,000 to Microfinance Institution Sinapi Aba Trust (SAT) in Ghana
responsAbility, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has executed debt investments totaling USD 500,000 in Ghana. Sinapi Aba Trust (SAT), a private non-governmental organization (NGO) established in Ghana in 1994, will receive USD 350,000 from responsAbility Global Microfinance Fund and USD 150,000 from responsAbility Mikrofinanz-Fonds. The investment funds are two of four funds operated by responsAbility, the others being responsAbility Base of the Pyramid and responsAbility Microfinance Leaders.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Arranges Syndicated Loan of $165m for Banco Daycoval to Improve Access to Finance for Small and Medium-Sized Enterprises in Brazil
The International Finance Corporation (IFC), a member of the World Bank Group, with the participation of 11 international banks, has arranged a syndicated loan of EUR 134 million (USD 165 million) for Banco Daycoval, a commercial bank based in Sao Paolo, with the aim of increasing access to finance for small and medium-sized enterprises in Brazil. The 11 international banks involved in the transaction are: Itau Europa, Standard Bank, HSBC, Calyon, Citibank, Oberbank, Banco Santander, Standard Chartered, WestLB, Commerzbank and ING.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Extends $24.6m Loan to ProCredit Bank Serbia to Improve Access to Finance for Small and Medium-Sized Enterprises
The International Finance Corporation, a member of the World Bank Group, has extended a EUR 20 million (USD 24.6 million) loan to ProCredit Bank Serbia, a private, development-oriented, full-service bank established in 2001, in an effort to increase access to loans for small and medium-sized enterprises in the country. According to Giovanni Daniele, IFC’s Resident Representative in Serbia, small and medium-sized enterprises are an important generator of employment in the country. However, the sector was severely hit by the recent global financial crisis, and companies are now experiencing problems in securing new financing.
MICROCAPITAL BRIEF: Oikocredit Lends $1.6m in Local-currency to Five Latin American Microfinance Institutions
Oikocredit, a microfinance investment fund in the Netherlands with assets of USD 665 million, recently loaned USD 1.6 million to five Latin American microfinance institutions (MFIs): Amanecer of Colombia, Coopesparta of Costa Rica, Proempresa of Peru, FINCA Peru and Norandino of Peru.
MICROCAPITAL BRIEF: Aditya Birla Finance (ABF) Enters Wholesale Microfinance Sector in India
Aditya Birla Finance (ABF), a non-banking financial company (NBFC) in India, has entered into the microfinance sector and has already closed a bulk financing deal with an unnamed Hyderabad-based microfinance institution (MFI). ABF is currently looking to form financing partnerships with other MFIs throughout the country.
MICROCAPITAL BRIEF: Philippines Partners with Key2Flex to Develop Microfinance Geographic Information System
The People’s Credit and Finance Corporation (PCFC), a Philippines government entity providing resources to retail microfinance institutions, has recently entered into a partnership with Key2Flex, an information technology company focused on rich internet applications, to assist with PCFC’s development of a geographic information system.
MICROCAPITAL BRIEF: International Finance Corporation to Acquire 20% Stake in India-Based Microfinance Institution Swadhaar FinServe (SPFL)
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced plans to acquire a 20 percent stake in Swadhaar FinServe (SPFL), a non banking financial company that caters to India’s urban poor, for USD 2.25 million.