Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership that aims to promote growth in developing economies, recently announced that it will disburse a five-year loan of USD 10 million to VisionFund International, a US-based affiliate of the Christian humanitarian organization World Vision International, aiming to support female clients and clients in rural areas via microfinance organizations (MFIs) in VisionFund’s network.
Category: Deals
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Sells Dai-ichi Life Insurance $100m in Microfinance Bonds
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, recently announced that it has sold ten-year microfinance bonds valued at MXN 1.7 billion (USD 100 million) to Japan’s Dai-ichi Life Insurance Company, a firm that offers life, property and casualty insurance as well as investment trust and related services.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $22m to Odeabank to On-Lend to Micro-, Small Enterprises (MSEs) in Turkey
The European Fund for Southeast Europe (EFSE), a Luxembourg-based fund that invests in the development of Southeast Europe and Central Asia’s financial sectors, recently provided Odeabank, a private deposit bank in Turkey, a loan of EUR 20 million (USD 21.86 million) to on-lend to micro and small-sized enterprises (MSEs) in Turkey [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Acquires 15% Equity Stake in Myanmar-based Microfinance Institution (MFI) Fullerton Finance for $1.2m
The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, recently announced that it has made an equity investment of USD 1.2 million in Fullerton Finance (Myanmar) Company Limited, a microfinance institution (MFI) that lends to micro-, small and medium-sized enterprises (MSMEs) and low-income individuals in Myanmar.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), Tbilisi Business Center (TBC) Bank Georgia Partner to Fund Micro-, Small Enterprises (MSEs); Agricultural Producers
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a subordinated loan of USD 15 million to Tbilisi Business Center (TBC) Bank, a Tbilisi, Georgia-based commercial bank, to support access to financing for micro- and small enterprises (MSEs) as well as agricultural producers in rural areas of Georgia. TBC will be EFSE’s fifth partner lending institution in Georgia [1].
MICROCAPITAL BRIEF: Opportunity International Selling 6 Banks in Sub-Saharan Africa to Financial Technology Company MyBucks
Opportunity International, a microfinance NGO based in the US city of Chicago, has announced that it intends to sell six of its banks that are located in unspecified sub-Saharan Africa to MyBucks Group, a financial technology company in Luxembourg.
MICROCAPITAL BRIEF: Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise), Arab Tunisian Lease Partner to Mobilize $5m for 750 Firms in Tunisia
The Sanad Fund for MSME, a Luxembourg-based public-private partnership that provides medium- and long-term debt and equity financing in the Middle East and North Africa, and Arab Tunisian Lease (ATL), a Tunisia-based company that provides lease financing for equipment, vehicles and real estate, signed a senior loan agreement for USD 5 million to support micro-, small and medium-sized enterprises (MSMEs) in Tunisia. This funding is slated to expand ATL’s portfolio by an additional 750 MSMEs.
MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $11m to Banco Ademi for On-Lending to MSMEs in Dominican Republic; $139m to Caribbean Governments for Climate Finance, Energy Projects
The European Investment Bank (EIB), the long-term lending institution of the European Union (EU), recently has pledged to loan EUR 10 million (USD 10.8 million) to Banco Ademi, a banking institution in the Dominican Republic, for on-lending to micro-, small and medium-sized enterprises (MSMEs) in the country.
MICROCAPITAL BRIEF: International Labor Organization’s (ILO’s) Impact Insurance Facility, Africa Reinsurance Corporation (Africa Re) Partner to Promote African Microinsurance
The Impact Insurance Facility (IIF) of the International Labor Organization (ILO), an agency of the United Nations, and Africa Reinsurance Corporation (Africa Re), a Nigeria-based corporation that assists reinsurance institutions and invests in the African insurance sector, have agreed to partner to promote inclusive microinsurance markets for the financially excluded population in Africa[1].
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $3m to Microfinance Organization Crystal of Georgia for On-Lending to Smallholder Agricultural Producers; Rural Microenterprises
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a loan of USD 3 million to Joint Stock Company Microfinance Organization Crystal, a microfinance institution based in Kutaisi, Georgia.
MICROCAPITAL BRIEF: Italy’s Banca Etica, Cassa Padana, Federcasse Partner with Palestinian Government, Offer Microcredit in West Bank
Banca Etica, an Italian cooperative bank; Cassa Padana, an Italian cooperative lender; and Federcasse, a network of cooperative credit banks in Italy, have partnered with the Palestinian Monetary Authority (PMA), a public institution that regulates the banking industry in the Palestinian territories, and the Palestinian National Authority’s Finance Ministry to launch a three-year microcredit program in the West Bank.
MICROCAPITAL BRIEF: Banque Internationale Pour L’Afrique Au Congo (BIAC) Launches Heyano MasterCard Prepaid Card in Democratic Republic of Congo (DRC) to Promote Financial Inclusion, Transition to Formal Economy
Banque Internationale Pour L’Afrique Au Congo (BIAC), a commercial bank in the Democratic Republic of the Congo (DRC), and MasterCard, a US-based payments and technology company, recently launched a prepaid card called Heyano [1].
MICROCAPITAL BRIEF: C-Quadrat’s Vision Microfinance Funds Loan $13m to Microfinance Institutions (MFIs) in Ecuador, India, Kenya, Mauritius, Nicaragua, Romania
During November 2015, Austrian asset manager C-Quadrat Asset Management issued loans worth the equivalent of USD 13 million via its two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Ecuador, India, Kenya, Mauritius, Nicaragua and Romania.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $10m to Banco de Ahorro y Crédito ADOPEM for On-lending to Microentrepreneurs in Dominican Republic
The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, recently announced that it will loan DOP 450 million (approximately USD 10 million) to Banco de Ahorro y Crédito ADOPEM, a microfinance institution (MFI) in the Dominican Republic that was formerly known as Asociación Dominicana para el Desarrollo de la Mujer.
MICROCAPITAL BRIEF: Base of Pyramid Asia (BOPA) Raises Equity Stake in Alliance for Microfinance in Myanmar (AMFIM) from 33% to 49%
Base of Pyramid Asia (BOPA), a Singapore-based equity investor in small microfinance institutions (MFIs) in Asia, recently purchased an additional equity stake of 16-percent in Alliance for Microfinance in Myanmar (AMFIM), a deposit-taking microfinance institution (MFI) that was launched in Myanmar in 2014.
MICROCAPITAL BRIEF: Oesterreichische Entwicklungsbank (OeEB) Invests $11m in Sanad Fund for MSME for Lending to Micro-, Small, Medium-sized Enterprises (MSMEs) in Middle East, North Africa
Oesterreichische Entwicklungsbank (OeEB), the development bank of Austria, has invested EUR 10 million (USD 10.7 million) in Sanad Fund for MSME, a Luxembourg-based public-private partnership that provides medium- and long-term debt and equity financing in the Middle East and North Africa.
MICROCAPITAL BRIEF: ACTIAM-FMO SME Finance Fund Closes at $162m with New Investment from Pensioenfonds Vervoer; Increased Investments from Spoorwegpensioenfonds, Stichting Pensioenfonds Openbaar Vervoer
The ACTIAM-FMO SME Finance Fund, which is managed by Actiam, a Netherlands-based asset manager, and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently closed at approximately EUR 150 million (USD 162 million).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Lends $9m to Kyrgyzstan’s Kompanion; $5.4m to Morocco’s Albaraka to Finance Micro-, Small, Medium-Sized Enterprises (MSMEs)
The UK-based European Bank for Reconstruction and Development (EBRD) has lent the local-currency equivalent of USD 9 million to Kompanion Financial Group, a microfinance institution (MFI) based in Kyrgyzstan, and EUR 5 million (USD 5.4 million) to Albaraka, the first Moroccan MFI to partner with EBRD [1] [2].