The European Bank for Reconstruction and Development (EBRD) recently supplied a USD 2 million loan to Tajik agricultural bank Amonatbonk, founded in 1992 following Tajikistan’s independence [6]. The funds will be divided evenly between a revolving credit line administered through the Tajik Agricultural Finance Framework (TAFF) and a trade finance facility [1].
Category: Deals
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Provides $15m Equity Investment to Lok II, an $80m Microfinance Fund that will Invest in Microfinance Institutions (MFIs) in India
The International Finance Corporation (IFC), the investment arm of the World Bank, recently announced that it will provide an equity investment of USD 15 million in Lok II, a venture capital fund investing primarily in microfinance.
MICROCAPITAL BRIEF: Sequoia Capital Sells Stake in Manappuram General Finance and Leasing Ltd of India for $70m
Sequoia Capital, a venture capital firm that commits a portion of its portfolio to microfinance, recently sold its stake in Manappuram General Finance and Leasing Ltd, an India-based non-banking financial company (NBFC) that provides loans in exchange for gold, for USD 70 million.
MICROCAPITAL BRIEF: Asian Development Bank Announces $50m Loan for Three Commercial Banks in Uzbekistan, Ipak Yuli Bank, HamkorBank and Agrobank, to Expand Financing to Micro- and Small Enterprises (MSEs)
The Asian Development Bank, a Manila-based regional development bank, has agreed to loan three Uzbekistani banks a total of USD 50 million and provide a grant of USD 600,000 to grow their financing to micro- and small enterprises (MSEs). The three commercial banks receiving the credit line are Ipak Yuli Bank (IYB), HamkorBank and Agrobank. HamkorBank and Agrobank will each receive USD 20 million, and the remaining USD 10 million will go to IYB. The banks are matching the loan amount from ADB with their own resources on a one-to-one basis.
MICROCAPITAL BRIEF: Africa Capital and Business Support (ACBS) Limited of Nigeria Secures $400m from Mainsail Trading Limited of Dubai to be Provided to Microfinance Institutions (MFIs) in Nigeria Via Subordinated Convertible Debentures (SCDs)
Africa Capital and Business Support (ACBS) Limited, a Nigerian financial intermediary, has secured USD 400 million in funds for microfinance institutions (MFIs) in Nigeria.
MICROCAPITAL BRIEF: MasterCard Foundation Provides $4.5m Grant to Haitian Microfinance Institution (MFI) Fonkoze
The MasterCard Foundation, a private Canadian foundation that supports microfinance, recently announced it would provide a USD 4.5 million grant to Fonkoze, a Haitian microfinance institution (MFI) serving 200,000 borrowers and savers.
MICROCAPITAL BRIEF: US-based International Development Non-profit Organization CHF International Sets Up CHF Finance Group to House Its Commercial Microfinance Institution Subsidiaries
CHF International, a US-based international development and humanitarian assistance non-profit organization, has set up a private holding company, CHF Finance Group, to house its commercial microfinance institution (MFI) subsidiaries.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Provide $30m Loan to Banco Patagonia, a Commercial Bank in Argentina, to Lend to Farmers and Small and Medium-sized Agribusinesses
The International Finance Corporation (IFC), the investment arm of the World Bank, will provide a USD 30 million loan to Banco Patagonia S.A., a commercial bank in Argentina, to lend to farmers and small and medium-sized agribusinesses.
MICROCAPITAL BRIEF: Through its Dexia MicroCredit Fund (DMCF), Swiss Asset Manager BlueOrchard Finance to Provide $5m Loan to Microfinance Provider Belarusian Bank for Small Business (BBSB)
BlueOrchard Finance, a Swiss asset management company, will provide a USD 5 million loan from its Dexia MicroCredit Fund (DMCF) to the Belarusian Bank for Small Business (BBSB), a bank that focuses on micro- and small enterprises.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Provide $18.5m Loan to NBD Bank, a Commercial Bank in Russia that Specializes in Lending to Micro, Small, and Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), an international finance institution, will provide a RUB 450 million unsecured loan, the equivalent of over USD 18.5 million, to NBD Bank, a commercial bank in Russia that specializes in providing loans to micro, small, and medium-sized enterprises (MSMEs) and is minority-owned by EBRD.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) and Inter-American Investment Corporation (IIC), a Member of the Inter-American Development Bank (IDB), Provide $27m in Equity to QBE del Istmo Compañía de Reaseguros, a Panama-based Reinsurance Company, to Expand into Microinsurance and Health Insurance
The International Finance Corporation (IFC), the investment arm of the World Bank, and the Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) that helps small and medium-sized enterprises (SMEs) gain access to finance, will make equity investments totaling USD 27 million in QBE del Istmo Compañía de Reaseguros, a Panama-based reinsurance company, to cover new products such as microinsurance and health insurance as well as increase its capital base, improve corporate governance standards and expand operations.
MICROCAPITAL BRIEF: Grameen Foundation to Upgrade Mifos, an Open Source Microfinance Institution (MFI) Management Software with Grants of $500,000 from Cisco Foundation and $1.23m from MasterCard Foundation
The Grameen Foundation, an independent non-profit organization, has announced that it will add functionality to Mifos, a microfinance institution (MFI) management software package that is open source, meaning that it is free software that can be changed by users.
MEET THE BOSS: Discussions on Impact Investing and the Sarona Frontier Market Fund I, LP: An Interview with Serge LeVert-Chiasson, Vice President of Sarona Asset Management
Sarona Asset Management is a boutique investment firm with the goal of achieving triple bottom line targets: profit for its investors, economic benefit for developing countries and reduced impact on or improvement in a focus on the environment. Its newest fund, the Sarona Frontier Markets Fund, is focused on harnessing the growth and vitality of micro-, small and medium-sized enterprises (MSMEs) in developing countries.
MICROCAPITAL BRIEF: Investment Firms Matrix Partners India, Hivos-Triodos Fonds and Lok Capital LLC Invest $26.5m in Indian BASIX Microfinance Institution Bhartiya Samruddhi Finance Limited (BSFL)
Matrix Partners India, a Mumbai-based investment firm, is investing INR 1 billion (USD 22.5 million) in Bhartiya Samruddhi Finance Limited (BSFL), an Indian microfinance institution that is a member of the BASIX (Bhartiya Samruddhi Investment & Consulting Service) Group. Two existing investors, Europe-based Hivos-Triodos Fonds and dedicated microfinance institution (MFI) investor Lok Capital LLC, are contributing a further INR 127 million (USD 2.9 million) and INR 55 million (USD 1.2 million) respectively.
MICROCAPITAL BRIEF: India Business Excellence Fund (IBEF), a Private Equity Fund, Invests $4.4m of Equity in AU Financiers, a Non-banking Financial Company Located in India, to Increase Lending to Small Entrepreneurs
The India Business Excellence Fund (IBEF), a private equity fund, will invest INR 200 million of equity, the equivalent of over USD 4.4 million, in AU Financiers, a non-banking financial company located in India, in order to provide loans for “low-income, self-employed, first-venture, and small transport entrepreneurs” in rural and semi-urban areas of states including Rajasthan.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $26.9m Loan to Intesa Sanpaolo Banka d.d. BiH, a Commercial Bank in Bosnia and Herzegovina, to On-lend to Small and Medium-Sized Companies
The European Bank for Reconstruction and Development (EBRD), an international finance institution, has provided a EUR 20 million loan, the equivalent of over USD 26.9 million, to Intesa Sanpaolo Banka d.d. BiH, a commercial bank in Bosnia and Herzegovina that is majority-owned by Intesa Sanpaolo Group of Italy.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), the Investment Arm of the World Bank, Provides USD 300,000 Investment to Utkarsh Micro Finance, a Microfinance Start-Up Based in Varanasi, India
The International Finance Corporation (IFC), the investment arm of the World Bank, has provided a USD 300,000 investment to Utkarsh Micro Finance Private Limited, a microfinance start-up providing loans in Northern India.
MICROCAPITAL BRIEF: Unitus, US Overseas Private Investment Corporation (OPIC) and Citi Microfinance Finalize $15m Credit Facility for Microfinance Institutions
Unitus Inc., an international nonprofit organization that supports microfinance institutions (MFIs); the US Overseas Private Investment Corporation (OPIC), a US government agency that invests in international development projects; and Citi Microfinance, Citi’s organization that aims to support MFIs, recently finalized a USD 15 million credit facility that aims to help foster growth among MFIs.