The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a senior loan of EUR 7 million (USD 8.3 million) to Agricover Credit IFN SA (Non-banking Financial Institution Corporation), a lender to farmers in Romania.
Category: Deals
MICROCAPITAL BRIEF: European Investment Bank Signs $25m in Financing Agreements with Banque Tuniso-Koweitienne, Tunisian Microfinance Institution (MFI) Taysir
The European Investment Bank (EIB), the Luxembourg-based long-term lending bank of the European Union (EU), recently approved two financing agreements with a total value of EUR 21 million (USD 25.2 million).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Sells Dai-ichi Life Insurance Company of Japan $100m in “Inclusive Business Bonds”
The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it has sold five-year “inclusive business bonds” valued at MXN 1.5 billion (USD 100 million) to Japan’s Dai-ichi Life Insurance Company (Dai-ichi Life), 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 $600k to Macedonian Microfinance Institution (MFI) Horizonti to On-Lend to Small-Scale Farmers, Rural Microentrepreneurs
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced it will offer a senior loan of EUR 500,000 (USD 600,100) to the Foundation for Economic Development “Horizonti”, Skopje (Horizonti), a Macedonian microfinance institution (MFI).
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $30m to Finansbank of Turkey to Support Micro-, Small, Medium-sized Enterprises (MSMEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a senior loan of EUR 25 million (USD 30 million) to Finansbank, a commercial bank in Turkey that is a subsidiary of the National Bank of Greece Group, a Greek financial conglomerate.
MICROCAPITAL BRIEF: Développement international Desjardins (DID), Financière agricole du Québec-Développement international (FADQDI) to Offer Agricultural Microinsurance, Training in Colombia
Développement international Desjardins (DID), a Canadian nonprofit providing technical support and investment for the community finance sector in emerging economies, and Financière agricole du Québec – Développement international (FADQDI), a Canadian nonprofit that aims to promote rural economic development, recently announced that they will launch a joint project with the aim of supporting the agricultural sector in Colombia.
MICROCAPITAL BRIEF: Foundation for International Community Assistance (FINCA) Launches Microfinance Operations in Owerri, Nigeria
The Foundation for International Community Assistance (FINCA), a US-based nonprofit microfinance network, has formally launched the operations of FINCA Microfinance Bank (FINCA MfB) in Owerri, Imo, Nigeria, following the issuance of its license by the Central Bank of Nigeria (CBN) on October 30, 2014.
MICROCAPITAL BRIEF: Expanding M-Pesa Mobile Money to Europe, Vodafone Targets 35% of Romanians Without Bank Accounts
In Romania, UK-based telecommunications firm Vodafone has been expanding M-Pesa, its mobile money service that was first launched in 2007 in Kenya, from the pilot stage to a complete rollout.
MICROCAPITAL BRIEF: CDC, Creation Investments, DEG, International Finance Corporation (IFC), FMO Acquire 40% Equity Stake in India’s Equitas for $51.4m
The Commonwealth Development Corporation (CDC), which is owned by the UK government; Creation Investments Capital Management (Creation Investments), a US-based alternative investment management company; Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution offering long-term project and company financing; the International Finance Corporation (IFC), the private-investment arm of the World Bank Group; and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that they will invest a total of INR 325 cores (USD 51.4 million) to acquire 40 percent of the shares of Equitas Holdings, an Indian microfinance lender.
MICROCAPITAL BRIEF: Credit Suisse to Fund Opportunity International’s “Empowering Generational Change Through Education” in Africa, Asia, Latin America
Credit Suisse, a Swiss global financial services company with operations in 50 countries, has agreed to donate an undisclosed sum to Opportunity International, a US-based nonprofit providing microfinance in 22 countries, to launch a three-year program entitled “Empowering Generational Change Through Education” that focuses on lending for education initiatives.
MICROCAPITAL BRIEF: Millicom’s Tanzanian Arm Distributes Profits of $1.8m to Tigo Pesa Mobile Money Customers
Millicom International Cellular, a Luxembourg-based telecommunications company that operates the brand Tigo, recently announced that its Tanzanian unit will distribute third quarter profits of TZS 3 billion (USD 1.8 million) to users and agents of Tigo Pesa, a mobile money service accessed by 3.6 million customers.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $67m in Equity in Bank Alfalah of Pakistan to Promote Financial Access for Small, Medium-sized Enterprises (SMEs); Economic Growth; Job Creation
The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it will invest USD 67 million in Bank Alfalah (Alfalah), a Pakistan-based financial institution.
MICROCAPITAL BRIEF: UAE’s Khalifa Fund for Enterprise Development Loans $200m to Egyptian Government for Microfinance
The Khalifa Fund for Enterprise Development (Khalifa Fund), a fund backed by the government of the emirate of Abu Dhabi, has announced that it will loan USD 200 million to the government of Egypt to fund microfinance programs in that country.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $5m to Muganbank of Azerbaijan for On-lending to Rural Micro-, Small, Medium-sized Enterprises (MSMEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it has established a partnership with Muganbank Open Joint Stock Company (OJSC) (Muganbank), a retail and corporate bank in Azerbaijan.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Establish $99m Sustainable Energy Financing Facility for Morocco; to Loan $6m to Banque Marocaine du Commerce Extérieur (BMCE) of Morocco for On-Lending for Sustainable Energy Investments; to Establish $37m Sustainable Energy Financing Facility for Jordan
The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution headquartered in England, is considering the establishment of a EUR 80 million (USD 99.4 million) “Sustainable Energy Financing Facility for Morocco”[1] (MorSEFF) that would disburse loans to EBRD’s partner financial institutions in Morocco.
MICROCAPITAL BRIEF: FairTrade Access Fund (FAF) Issues Trade Finance Loan Worth $931k to Ecookim of Cote D’Ivoire
FairTrade Access Fund (FAF), an affiliate of German NGO Fairtrade International that provides loans to farmers in developing countries, recently announced that it has issued a trade finance loan of EUR 750,000 (USD 931,000) to Ecookim, a union of cooperatives based in Cote d’Ivoire, to support the purchase of cocoa beans from 3,700 local suppliers in Central and Western Cote d’Ivoire.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $30m to Rizal Commercial Banking Corporation (RCBC) of Philippines to Fund Small, Medium-sized Enterprises; Women-led Businesses
The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it has approved a “medium-term loan”[1] of up to USD 30 million to the Rizal Commercial Banking Corporation (RCBC), a commercial bank in the Philippines.
MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $24.8m to Cooperative Rural Development Bank (CRDB) of Tanzania, Announces $6.2m for Technical Assistance Programmes in East Africa
The European Investment Bank (EIB), the lending bank of the European Union, recently announced that it will issue a loan worth EUR 20 million (USD 24.8 million) to the Cooperative Rural Development Bank (CRDB), a commercial bank in Tanzania, to support small businesses in the agriculture, manufacturing and retail sectors in Tanzania.