A shareholder in Mobiasbanca since 2008, the UK-based European Bank for Reconstruction and Development (EBRD) recently exited its holding in Moldova’s Mobiasbanca. EBRD sold this 8.84-percent stake to
Category: Deals
MICROCAPITAL BRIEF: MFIs in Ecuador, Kosovo, Kyrgyzstan Borrow from C-Quadrat Dual Return Vision Microfinance Fund
Microfinance institutions (MFIs) in Ecuador, Kosovo and Kyrgyzstan have borrowed unspecified amounts of funding from the Dual Return Vision Microfinance Fund, which is managed by Austria-based C-Quadrat Asset Management (AM). C-Quadrat AM, a member of the C-Quadrat Investment Group, told MicroCapital hours ago that the transactions occurred during March. While declining to name the MFIs, the firm described
MICROCAPITAL BRIEF: Bereke Microfinance Organization of Kazakhstan Borrows $680k from Grameen Credit Agricole Foundation
Bereke Microfinance Organization, which is located in Kazakhstan, has received a loan in local currency approximately equivalent to USD 680,000 from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, to expand its loan portfolio. Bereke seeks to increase its clients’ standard of living by lending for microenterprise, small enterprise, agriculture, housing and consumption. The institution was founded in 2003 to serve the northern, eastern and central regions of Kazakhstan. As of 2017,
MICROCAPITAL BRIEF: BNP Paribas Lends to Satin Creditcare Network of India for Microfinance
France-based bank BNP Paribas has told MicroCapital that it lent an undisclosed sum today to Satin Creditcare Network, a microfinance institution (MFI) in India, to support the growth of its microcredit portfolio. Satin Creditcare serves 3.5 million customers in 18 states with a loan portfolio of approximately INR 62 billion (USD 900 million).
Established in 1990, Satin Creditcare is based in Delhi and lends to households as well as micro-, small and medium-sized enterprises. Its mission is to “provide financial assistance to a large number of households which are excluded from the ambit of mainstream financial service providers so as to enhance their livelihood and promote a productive environment.” While Satin Creditcare does not accept deposits, it operates
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $776k to Oxus Kyrgyzstan for Microfinance Lending
The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, has informed MicroCapital that it issued a three-year loan in local currency approximately equivalent to USD 776,000 in favor of Oxus Kyrgyzstan, a microfinance institution (MFI) that was founded in 2006. ACTED, a French NGO formerly known as the Agency for Technical Cooperation and Development, holds 50.2 percent of the shares of Oxus Kyrgyzstan.
As of 2018, Oxus Kyrgyzstan had a gross loan portfolio of EUR 6.6 million (USD 7.5 million) and 7,000 active clients. The MFI lends mostly for agriculture, livestock breeding and
MICROCAPITAL BRIEF: C-Quadrat Dual Return Vision Microfinance Fund Lends to Network Active in Kosovo
The Dual Return Vision Microfinance Fund of C-Quadrat Asset Management (AM), a member of the Austria-based C-Quadrat Investment Group, issued a euro-denominated loan of unspecified size during February to an unidentified network of microfinance institutions (MFIs) operating in Africa, China and Kosovo. The MFI in Kosovo was launched in 2000 with UN support and is working to boost the percentage of
MICROCAPITAL BRIEF: Berendina Micro Investments of Sri Lanka Receives $393k Guarantee from Grameen Credit Agricole Foundation for Microfinance Lending
Berendina Micro Investments Company (BMIC) of Sri Lanka has secured a loan guarantee of EUR 375,000 (USD 426,000) from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, allowing the microfinance institution to secure funding from an unidentified third party. BMIC will use the funding to boost its microlending in
MICROCAPITAL BRIEF: Investisseurs & Partenaires Raises $28m for I&P Afrique Entrepreneurs (IPAE) 2, an Equity Fund Investing in SMEs in Africa
Investisseurs & Partenaires (I&P), a France-based investor in small and medium-sized enterprises (SMEs) in sub-Saharan Africa, recently raised EUR 25 million (USD 28 million) for its I&P Afrique Entrepreneurs 2 (IPAE 2), bringing the fund’s volume to
MICROCAPITAL BRIEF: Invest In Visions’ IIV Mikrofinanzfonds Lends $3m to Armeconom Bank to Support Microfinance in Armenia
Germany-based Invest in Visions (IIV) recently announced that it has loaned USD 3 million to Armeconom Bank of Armenia from IIV Mikrofinanzfonds, a microfinance investment vehicle that lends to financial institutions in developing countries. Launched in 1991, Armeconom offers loans, credit lines, deposit services, payment cards, transfers and other services to individuals and businesses. It accepts deposits in four currencies, with rates ranging from 0.2 percent to 10 percent per year. Its lending products include
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Loans $815k to Baobab DRC for Microfinance in Democratic Republic of Congo
The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, has informed MicroCapital that it lent EUR 716,000 (USD 815,000) to Baobab DRC, a microfinance institution (MFI) operating in the Democratic Republic of Congo (DRC). The MFI is affiliated with Baobab, a France-based firm offering financial services in 10 countries. Baobab DRC
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Loans $10m to FinLux ELLEN Sarl to Promote Solar Electricity Access in Chad in Partnership with Bren-Tronics
The Overseas Private Investment Corporation (OPIC), the development finance institution of the US government, recently loaned USD 10 million to FinLux E Longlife Energies Nouvelles (ELLEN), a firm registered in France, to distribute solar-powered devices to households, small businesses, medical clinics and educational institutions in Chad. To minimize the upfront cost to users, “the Project Company will retain ownership” of the devices.
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $5m to Al Majmoua for Enterprise, Housing Microfinance in Lebanon
Sanad Fund for MSME, a Luxembourg-based investor in lenders to micro-, small and medium enterprises (MSMEs), recently loaned USD 5 million to Al Majmoua, a provider of financial and business development services to underserved groups in Lebanon. The funds are to be on-lent to low-income individuals for housing improvements and to very small enterprises for business needs.
MICROCAPITAL BRIEF: VisionFund DRC Borrows $1m from Grameen Credit Agricole Foundation for Rural Microenterprise Lending
VisionFund DRC, a microfinance institution (MFI) in the Democratic Republic of Congo, has secured a loan of approximately USD 1 million from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg. VisionFund DRC provides loans, savings and microinsurance to approximately 2,900
MICROCAPITAL BRIEF: SunFunder Raises $42.5m for Solar Energy Transformation Fund from OPIC, Calvert, Ceniarth, IKEA Foundation
SunFunder, a Kenya-based financier of solar energy firms, recently raised USD 37.5 million in debt for its new Solar Energy Transformation (SET) Fund as well as USD 5 million in first-loss grant funding from the IKEA Foundation, an affiliate of the Sweden-founded IKEA group of furniture companies. The goal of SET is to raise USD 85 million to fund the delivery of energy to 3 million people over
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Disburses Local-currency Loan Worth $2.8m to AMK Microfinance Institution of Cambodia
The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently informed MicroCapital that it has lent the equivalent of EUR 2.5 million (USD 2.8 million) in local currency to AMK Microfinance Institution, which was founded in Cambodia in 2003 under
MICROCAPITAL BRIEF: Oikocredit Buys $3.3m in Equity in Laudex, Education Lender in Mexico
The Netherlands’ Oikocredit recently paid USD 3.3 million to purchase an equity stake of unspecified size in Laudex, a lender to low- and moderate-income Mexican students pursuing undergraduate and graduate degrees around the world. The institution has an “online approval platform” and a “risk-based pricing model” with a maximum annual interest rate of 29.5
MICROCAPITAL BRIEF: Abaco Savings & Credit Cooperative of Peru Borrows $1.5m from Desjardins Fund for Inclusive Finance
Peru’s Abaco Savings & Credit Cooperative recently agreed to borrow USD 1.5 million for six years from the Desjardins Fund for Inclusive Finance, one of two funds of Développement international Desjardins (DiD), a member of the Canadian cooperative Desjardins Group. The subordinated loan is intended to support the growth of Abaco, as well as to
MICROCAPITAL BRIEF: KOMIDA of Indonesia Borrows $2.4m in Local Currency from Grameen Credit Agricole Foundation for Microenterprise Lending for Rural Women
Koperasi Mitra Dhuafa (KOMIDA), a savings and loan cooperative in Indonesia, has secured a three-year loan worth approximately USD 2.4 million in local currency from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg. KOMIDA was established in 2004 to provide collateral-free loans to low-income women in rural areas. As of 2019, it serves 598,000 members through 237 offices. In addition to loans and savings,