Source: Grameen Koota.
Category: Deals
PRESS RELEASE: UK’s Blackstar Loans $13m to Kagisano of South Africa
Source: Blackstar Investors.
NEWS WIRE: United States: Microfinance International Expands Remittance Network With El Camino Transferencias Merger
Source: Washington Post.
MICROCAPITAL STORY: ING Review of Morgan Stanley, the First Investment Bank Microfinance-Oriented Group, and Prior Deals with Blue Orchard Finance
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 Morgan Stanley.
NEWS WIRE: India: Lok Capital Raises Fund Size to $22m With Investments from ACCION, responsAbility, Développement International Desjardins (DID)
Source: Business Standard.
PRESS RELEASE: Microfinance Venture Capital Fund Lok Capital to Invest $1.25m in India’s Satin Creditcare, With More to Come From Journalist Swaminathan Aiyar
Source: Lok Capital LLC.
MICROCAPITAL STORY: European Bank for Reconstruction and Development (EBRD) Doubles Support for Bosnian Microfinance Institution Mikrokreditna Organizacija EKI With Second $9m Loan
The European Bank for Reconstruction and Development (EBRD) is providing a new EUR 6 million (USD 9.1 million) loan to Mikrokreditna organizacija EKI (EKI), the third-largest microfinance institution in Bosnia and Herzegovina (BiH). The loan, which will be on-lent by EKI, is funded by the EUR 75 million (USD 114 million) EBRD Micro, Small and Medium Sized Enterprises Finance Framework for the Western Balkans and Croatia, which aims at facilitating access to finance for smaller business clients.
MICROCAPITAL STORY: Dutch Firm PGGM Commits $316m to Microfinance Investments
Dutch firm PGGM, the asset manager for the Netherlands’ healthcare pension fund, Pensioenfonds Zorg & Welzijn (PZW), has announced a EUR 200 million (USD 316 million) commitment to specialist fund managers affiliated with microfinance over the next few years.
PRESS RELEASE: Dutch Pension Manager PGGM Launches $304m Commitment to Microfinance with $41m Investment in BlueOrchard’s Dexia Micro Credit Fund (DMCF)
Source: BlueOrchard Finance.
MICROCAPITAL STORY: The Netherlands Development Finance Company (FMO) Lends $1.1m to Fundación Internacional para la Asistencia Comunitaria de Guatemala (FINCA Guatemala)
The Consultative Group to Assist the Poor (CGAP) reports in its list of recent transactions that the Netherlands Development Finance Company (FMO) financed USD 1,103,100 in loans to Fundación Internacional para la Asistencia Comunitaria de Guatemala (FINCA Guatemala) on January 21, 2008.
MICROCAPITAL STORY: Fundación BBVA para las Microfinanzas Will Acquire Edpyme Crear Tacna
The Fundación BBVA para las Microfinanzas (BBVA Foundation for Microfinance) received permission from Peru’s Superintendent of Banks, Insurance, and AFP (SBS) to acquire the Edpyme Crear Tacna. The Fundación BBVA can purchase more than 10 percent of the microfinance institution (MFI)’s capital stocks.
MICROCAPITAL STORY: Oikocredit of the Netherlands Invests USD 4.7 million in Microfinance Institutions in India and Ghana
The Consultative Group to Assist the Poor (CGAP) recently reported Oikocredit, a Dutch cooperative fund invested USD 4.7 million in loans to microfinance institutions in India and Ghana this past February 2008. A loan of USD 1.2 million went to Semam Microfinance Investment Literacy and Empowerment PVT (SMILE) of Madurai, India. Gram-Utthan, a CARE CASHE project in Orissa, India received a loan of USD 1.5 million, and Amalgamated Bank Limited of Ghana was granted a loan of USD 2 million.
MICROCAPITAL STORY: Oikocredit of the Netherlands Invests USD 6.4 Million in Latin American Microfinance Institutions
The Consultative Group to Assist the Poor (CGAP) recently reported Oikocredit, a Dutch cooperative investment fund, invested a total of USD 6.4 million in five microfinance institutions in Latin America. The largest investment was USD 4.4 million in loans to EDPYME Edyficar, a microfinance apex institution based in Santa Cruz Miraflores, Peru this past February 2008. Other investments in February went to Fundacion Campo of El Salvador (USD 1.05 million), Fundacion Ecuatoriana de Desarrollo (USD 500 thousand), Cooperativa San Antonio Ltd. of Nicaragua (USD 300 thousand), and Cooperativa de Servicios Multiples TEPEYAC also of Nicaragua (USD 200 thousand).
MICROCAPITAL STORY: MicroCredit Enterprises Invests USD 1.5 million in Normicro of Azerbaijan, CREDISOL of Honduras, and Lazika Capital of Georgia
The Consultative Group to Assist the Poor (CGAP) recently reported MicroCredit Enterprises of California invested loans in equal amounts of USD 500 thousand in microfinance institutions, Normicro of Azerbaijan (March 2008), CREDISOL of Honduras (February 2008), and Lazika Capital of Georgia (January 2008).
MICROCAPITAL STORY: Black Investors PLC of Britain Lends $13m to Microfinance Institution (MFI) Kagisano of South Africa
Black Investors PLC, a British investment company, has granted a ZAR 100 million (USD 13 million) long-term loan facility to Kagisano Financial Enterprises, a South African mass market credit provider.
MICROCAPITAL STORY: Banco Bilbao Vizcaya Argentaria (BBVA) of Spain Lends $2m to Financiera Solidaria (FINSOL) and $100k to the Asociación Alternativa Para el Desarrollo Integral de las Mujeres (ADIM)
The Consultative Group to Assist the Poor (CGAP) reports in its list of recent transactions that the second-largest bank in Spain and Latin America, Banco Bilbao Vizcaya Argentaria (BBVA) financed USD 2,017,400 in loans to Financiera Solidaria (FINSOL) on January 25, 2008 and USD 100,000 to Asociación Alternativa Para el Desarrollo Integral de las Mujeres (ADIM) on February 19, 2008.
MICROCAPITAL STORY: Norwegian Investment Fund for Developing Countries (Norfund) Invests USD 2.5 million in Cambodian Microfinance Institutions
The Consultative Group to Assist the Poor (CGAP) recently reported the Norwegian Investment Fund for Developing Countries (Norfund) invested loans totaling USD 2.5 million in Cambodian microfinance institutions, Hattha Kaksekar Ltd. (HKL) and Cambodian Entrepreneur Building (CEB). Hattha Kaksekar Ltd. received USD 1 million dollars in loans this past September 2007, and CEB received USD 1.5 million in January 2008.
MICROCAPITAL STORY: KfW Entwicklungsbank, Development Arm of German Bank, Lends $14.7m to Moroccan Microfinance Institution (MFI) Fondation pour le Développement Local et le Partenariat (FONDEP)
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) reported that KfW Entwicklungsbank, the emerging-economy financing arm of a German banking group, issued a loan of EUR 10 million (USD 14.7 million) to the Fondation pour le Développement Local et le Partenariat (FONDEP), a Morocco-based non-governmental organization (NGO).