The 
government-backed US International Development Finance Corporation (DFC) recently announced a set of initiatives to boost its promotion of gender equity, including: (1) an increased goal of investing USD 12 billion in women over five years through its 2X Women’s Initiative, which supports “investment in projects that are owned by women, led by women, or provide a product or service that empowers women;” (2)
Category: Deals
MICROCAPITAL BRIEF: IIV Disburses $18m to Khan Bank of Mongolia, Including for On-lending to MSMEs Developing Post-COVID Business Models
Germany’s Invest in Visions (IIV), under the advice of Belgium-based Incofin Investment Management, recently lent USD 18 million to Khan Bank of Mongolia from the fund IIV Mikrofinanzfonds. The proceeds primarily are slated for on-lending to micro-, small and medium-sized enterprises (MSMEs), especially
MICROCAPITAL BRIEF: Tanzania Mortgage Refinance Company (TMRC) Sells $3.8m in Bonds to Boost Access to Home Ownership
The Tanzania Mortgage Refinance Company (TMRC), an institution that refinances the portfolios of housing lenders, recently completed an issue of corporate bonds on the Dar es Salaam Stock Exchange. The bond listing had a target of
MICROCAPITAL BRIEF: Muthoot of India Raises $10m in MLDs for On-lending to Microfinance Borrowers
Muthoot Microfin Limited, a unit of Indian conglomerate Muthoot Pappachan Group whose focus is serving female entrepreneurs, recently raised INR 750 million (USD 10 million) via market-linked debentures (MLDs) that mature in 18 months. Muthoot Microfin CFO Praveen Thoroppady said, “[W]ith MLDs, we were able to raise
MICROCAPITAL BRIEF: EIB Lending Banca Intesa Beograd of Serbia $47m for SMEs, Mid-Caps Adjusting to COVID-19 Pandemic
Recently, the European Investment Bank (EIB), an entity of the EU, extended a credit line of EUR 40 million (USD 47 million) to Banca Intesa Beograd (BIB) in an effort to boost the Serbian economy in response to the downturn caused by the COVID-19 pandemic. The funds are for on-lending to small and medium-sized enterprises (SMEs) and mid-caps to support operations, job retention and
MICROCAPITAL BRIEF: ADA’s SSNUP, Incofin’s agTAF Supporting Mobile App from Sohan Lal Commodity Management (SLCM) of India, Easing Farmers’, Buyers’ Assessment of Seed Quality
Incofin Investment Management, which is based in Belgium, recently announced a grant of approximately EUR 125,000 (USD 147,000) from its agricultural technical assistance fund (agTAF) and the Smallholder Safety Net Upscaling Programme (SSNUP) to fund a mobile application for customers of Indian agricultural logistics firm Sohan Lal Commodity Management (SLCM). The app, which SLCM plans to launch by
MICROCAPITAL BRIEF: CredAvenue Issues $45m Market-linked Debenture for Spandana Sphoorty to Boost Microfinance for Women in Rural India
CredAvenue, an India-based firm that connects lenders and borrowers, recently issued a market-linked debenture valued at INR 3.38 billion (USD 45 million) for Spandana Sphoorty Financial Limited, a non-banking financial company (NBFC) providing microloans in India. The participating investors comprise
MICROCAPITAL BRIEF: EBRD Loans $2.4m to ProCredit Bank Bosnia and Herzegovina for Energy Efficiency, Homeowners Eligible for EU Grants
The UK-based European Bank for Reconstruction and Development (EBRD) recently announced it is lending EUR 2 million (USD 2.37 million) to ProCredit Bank Bosnia and Herzegovina (PCB BiH) to on-lend for residential “investments in insulation, windows, heat pumps, solar panels and other improvements” that reduce energy usage. PCB BiH is a member of Germany’s ProCredit Holding, whose members provide
MICROCAPITAL BRIEF: Arcadia Funds, Kayyak Ventures Lead $82m Credit, Equity Package for Marco, Financier of SME Exports from Latin America to US
US-based Arcadia Funds and Chile-based Kayyak Ventures recently led a funding package totaling USD 82 million in favor of Marco, a US-based company that funds exports to the US from small and medium-sized enterprises (SMEs) in Latin America. Twelve other investors also participated in the package, which consists of a
MICROCAPITAL BRIEF: IIV Mikrofinanzfonds Loans $2m to FINCA Tajikistan for Microfinance
German investment research firm Agents for Impact recently advised Germany-based Invest in Visions (IIV) on its disbursement of a loan in the amount of USD 2 million to FINCA Tajikistan, a microfinance institution (MFI) affiliated with the US-based for-profit
MICROCAPITAL BRIEF: CDC, Futuregrowth Participate in $36m Funding Package for Divercity Urban Property Fund to Build 2,500 Sustainable Housing Units in South Africa
The CDC Group, a development finance institution backed by the UK government, has announced a commitment of ZAR 500 million (USD 36 million) from it and other investors to the Divercity Urban Property Fund, a for-profit entity based in South Africa that invests in high-density urban areas. The funding is designated for
MICROCAPITAL BRIEF: EIB Lending Jordan Kuwait Bank $119m for SMEs Adjusting to COVID-19 Pandemic
Recently, the European Investment Bank (EIB), an entity of the EU, extended a credit line of EUR 100 million (USD 119 million) to Jordan Kuwait Bank in an effort to boost the Jordanian economy in response to the downturn caused by the COVID-19 pandemic. The funds are to be used for
MICROCAPITAL BRIEF: ANDE, IDB to Implement MSME Digital Transformation Program in Uruguay, Boosting Digital, Human Resources
The Inter-American Development Bank (IDB), a multilateral finance institution that promotes economic development in Latin America and the Caribbean, recently approved a loan of USD 15 million to support micro-, small and medium-sized enterprises (MSMEs) in Uruguay through the MSME Digital Transformation Program. The goal is to increase MSMEs’ adoption and awareness of “digital solutions, increase the supply of digital goods and services, and
MICROCAPITAL BRIEF: I&P Leads $8m Debt, Equity Funding Round for Zeepay to Expand Mobile Money Services in Africa
Investisseurs & Partenaires (I&P), a France-based investor in small and medium-sized enterprises (SMEs) in sub-Saharan Africa, recently led a funding round for Zeepay, a financial technology (fintech) company with offices in Ghana and the UK, to expand Zeepay’s digital wallet services to more countries in Africa. The funding round comprises USD 3 million in equity from I&P, USD 800,000 in equity from Ark Holdings, USD 800,000 in
MICROCAPITAL BRIEF: EBRD Boosts Loan Ceiling of Quds Bank to Support Cross-border Trade, MSMEs in West Bank, Gaza
Recently, the UK-based European Bank for Reconstruction and Development (EBRD) agreed to increase the credit line it has open for Quds Bank, a commercial bank operating in the West Bank and Gaza, by USD 10 million. Half of the new increment is for Quds Bank to use for
MICROCAPITAL BRIEF: FMO Announces $6m Loan for Microfinance Institution Sembrar Sartawi of Bolivia to Support Climate Resilience, Growth of Small-scale Farmers
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, recently announced a loan of USD 6 million to support Bolivia-based microfinance institution (MFI) Institución Financiera de Desarollo Sembrar Sartawi. The Dutch Fund for Climate and Development (DFCD), a private entity managed by FMO, will fund the facility, aiming to boost the “climate-resilient economic growth [of] vulnerable smallholder farmers” through
MICROCAPITAL BRIEF: IFC Approves $20m Loan to Agrofértil of Paraguay to Support Farming, Gender Equality Amid COVID-19 Downturn
The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to loan up to USD 20 million in working capital to Agrofértil, a company that provides credit, crop insurance, agricultural inputs and “agronomic services” to farmers and farmer cooperatives in Paraguay. Through the loan, which may be renewed yearly for five years, IFC aims to support Agrofértil in its work with farmers cultivating small and medium-sized plots including by endeavoring to “promote
MICROCAPITAL BRIEF: IFC, We-Fi Invest $2.5m in Flat6Labs to Support Entrepreneurship in Jordan
The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to invest USD 2 million in Flat6Labs Amman, a venture capital fund in Jordan, to support