Indian non-banking finance company, Grama Vidiyal Microfinance (GV), will look to increase its branches by 115 for its current 100. Currently GV operates in 18 districts of the southern state of Tamil Nadu. By December of 2009, the company expects to open branches in Andhra Pradesh and then in northern India.
Category: Deals
PRESS RELEASE: Benchmark Asset Managers Invests $1.35m in Microfinance Intermediary MicroVest
Source: MicroVest.
MICROCAPITAL STORY: ING Review of Deutsche Bank’s Microfinance Activities, the Microcredit Development Fund, and the Global Commercial Microfinance Consortium
The Dutch Bank ING published its updated 2008 study on commercial bank microfinance activity, called “A Billion to Gain? The Next Phase”. A MicroCapital summary of the paper can be read here. MicroCapital is reviewing the microfinance activities of several of large international banks covered in the study, such as Deutsche Bank (DB).
MICROCAPITAL STORY: Pakistan Poverty Alleviation Fund (PPAF) to Lend $3.4m to Microfinance Institution (MFI) BRAC Pakistan
The Pakistan Poverty Alleviation Fund (PPAF), a public-private partnership that promotes economic development, has signed an agreement with microfinance institution (MFI) BRAC Pakistan to provide it a loan facility of PKR 220 million (USD 3.4 million) for micro-lending activities.
MICROCAPITAL STORY: ING Review of Crédit Agricole’s Microfinance Activities and Its Partnerships with Grameen, ACBA, and Trade Associations in Madagascar
The Dutch Bank ING published its updated 2008 study on commercial bank microfinance activity, called “A Billion to Gain? The Next Phase”. A MicroCapital summary of the paper can be read here. MicroCapital is reviewing the microfinance activities of several of large international banks covered in the study, such as Crédit Agricole SA (CA).
MICROCAPITAL STORY: BMCE Bank of Morocco Lends $12.5m to Microfinance Institution (MFI) FONDEP
Moroccan microfinance institution (MFI) FONDEP is to receive a loan of MAD 100 million (USD 12.5 million) from commercial bank BMCE (Banque marocaine du commerce extérieur) of Morocco, with a USD 3 million guarantee split between Grameen-Jameel Pan-Arab Microfinance Ltd, a for-profit venture that provides capacity building and financing to Arab MFIs, and the Grameen Foundation’s Growth Guarantee. It is the largest leveraged commercial transaction for a Moroccan MFI.
MICROCAPITAL STORY: Société Générale de Banque Jordanie Lends $2.8m to Tamweelcom of Jordan
Société Générale de Banque – Jordanie has announced a loan of JOD 2 million (USD 2.8 million) to microfinance institution (MFI) Tamweelcom of Jordan, backed by a USD 846,000 guarantee from Grameen-Jameel Pan-Arab Microfinance Ltd, a for-profit venture that provides capacity building and financing to Arab MFIs.
NEWS WIRE: Kenya: Standard Chartered Arranges Currency Swap for Microfinance Institution Faulu Kenya
Source: Business Daily.
MICROCAPITAL STORY: Omidyar Network Granting $9m to Microfinance Non-Profit Unitus
Omidyar Network, a philanthropic investment firm begun by the founder of eBay, has announced a three-year grant of USD 9 million in Unitus, a Seattle-based non-profit that facilitates access to capital and consulting services to high-potential microfinance institutions (MFIs).
MICROCAPITAL STORY: French Bank BNP Paribas to Lend $10.4m to Microfinance Association ADIE This Year
Following up on MicroCapital’s review of the microfinance activities of French bank BNP Paribas earlier this month (from the findings of an ING Bank study), BNP Paribas will be lending EUR 6.6 million (USD 10.4 million) this year to ADIE (Association pour le droit à l’initiative économique), a microcredit association for start-up businesses in France and French territories who lack access to traditional finance. The bank will also seek to extend its international microfinance activities during 2008.
MICROCAPITAL STORY: ING Review of Citigroup’s Microfinance Activities and Its Syndicated Loan Securitizations for Compartamos, SKS Microfinance, and BRAC
The Dutch Bank ING published its updated 2008 study on commercial bank microfinance activity, called “A Billion to Gain? The Next Phase”. A MicroCapital summary of the paper can be read here. MicroCapital is reviewing the microfinance activities of several of large international banks covered in the study, such as Citigroup (Citi).
MICROCAPITAL STORY: The European Bank for Reconstruction and Development (EBRD) Extends a $1m loan to Norwegian Microcredit (Normicro) of Azerbaijan
The European Bank for Reconstruction and Development (EBRD), a London-based international bank utilizing investment tools to encourage democracy and market economies from central Asia to central Europe since 1991, is financing a USD 1 million loan to Baku-based Norwegian Microcredit (Normicro), a limited liability company (LLC) reporting 2007 total assets of nearly USD 7 million and a loan portfolio approaching USD 6.9 million. As reported by The Financial, a daily newspaper operating out of Georgia and Ukraine, “the financing will be used for on-lending to micro and small enterprises (MSEs) especially in rural areas of Azerbaijan.”
MICROCAPITAL STORY: Indian MFI BISWA Sells $5.9mn of its Agri-Assets to Indian Private Banks
East Indian microfinance institution (MFI) Bharat Integrated Social Welfare Agency (BISWA) sold USD 5.9 million of its agricultural assets, otherwise known as agri assets. The sale was arranged by Grameen Capital India (GCI), who was also responsible for identifying a pipeline of potential purchasers among domestic, private Indian banks.
MICROCAPITAL STORY: International Finance Corporation (IFC) to Invest $33m in Dominican Republic’s Centro Financiero BHD, a Provider of Microfinance and Other Financial Services
The International Finance Corporation (IFC), a member of the World Bank Group, will invest USD 33 million in return for a nine percent stake in Centro Financiero BHD, a financial services holding company in the Dominican Republic.
PRESS RELEASE: Micro Finance Bank of Azerbaijan (MFBA) Shareholders Agree to Increase Capital by $11m for Total Capitalization of $40m
Source: Micro Finance Bank of Azerbaijan.
MICROCAPITAL STORY: Equity Bank of Kenya to Acquire Microfinance Institution (MFI) Uganda Microfinance in $26.9m Deal
Equity Bank, a leading provider of microfinance services in Kenya, is acquiring Uganda Microfinance Ltd. (UML) in an all-share deal worth KES 1.7 billion, equivalent to USD 26.9 million.
MICROCAPITAL STORY: ING Review of American International Group (AIG) and Its Partnerships with ACCION, FINCA, MicroCred, Pro Mujer, and Pak-Oman Microfinance Bank
The Dutch Bank ING published its updated 2008 study on commercial bank microfinance activity, called “A Billion to Gain? The Next Phase”. A MicroCapital review of the paper can be read here. MicroCapital is reviewing the microfinance activities of several of large international banks covered in the study, such as American International Group (AIG).
MICROCAPITAL STORY: The European Bank for Reconstruction and Development (EBRD) will Extend a $30m Syndicated Loan to the Micro Finance Bank of Azerbaijan (MFBA) for On-lending to Micro Enterprises
The Board of Directors of the London-based European Bank for Reconstruction and Development (EBRD), an international bank utilizing investment tools to encourage democracy and market economies from central Asia to central Europe since 1991, will discuss an upcoming syndicated loan to the Micro Finance Bank of Azerbaijan (MFBA) on May 12th. The loan will be worth USD 30 million, as reported by the Azeri-Press Agency (APA). The EBRD will finance USD 10 million of the loan and the remaining USD 20 million will be offered to the syndication market on “B loan” terms.