Grama Vidiyal Microfinance, a microfinance institution (MFI) operating in the Indian state of Tamil Nadu, has raised an undisclosed amount of financing through both senior and subordinate loans from World Business Capital, a US-based lender to small and medium-sized enterprises (SMEs).
Category: Deals
MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $4m to Microfinance Institutions in Armenia, Honduras, Tajikistan
Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently disbursed loans totaling USD 4 million to microfinance institutions (MFIs) in Armenia, Honduras and Tajikistan [1].
MICROCAPITAL BRIEF: Belgazprombank (BGPB) of Belarus to Receive $41m Syndicated Loan from European Bank for Reconstruction and Development (EBRD), European Fund for Southeast Europe (EFSE)
Belgazprombank (BGPB), a Belarus-based commercial bank owned by Gazprom of Russia, Gazprombank of Russia, Beltransgaz of Belarus and the Belorussian government, recently entered into an agreement with the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, and the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, to accept a five-year, syndicated loan of EUR 30 million (USD 41.4 million).
MICROCAPITAL BRIEF: Goldman Sachs, International Finance Corporation (IFC) Announce $600m Fund for Women-owned Small, Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and US-based investment bank Goldman Sachs Group (GS) recently announced the establishment of the “Women Entrepreneurs Opportunity Facility,” a USD 600 million credit fund aimed at supporting women-owned small and medium-sized enterprises (SMEs) in emerging economies.
MICROCAPITAL BRIEF: India’s IntelleGrow Completes Second Round of Financing, Raising $4.6m from Omidyar Network, Michael and Susan Dell Foundation
IntelleGrow, an India-based lender to small and medium-sized enterprises (SMEs), recently announced that it raised INR 250 million (USD 4.1 million) from Omidyar Network, a US-based social investment firm, and INR 30 million (USD 500,000) from the Michael and Susan Dell Foundation, a US-based nonprofit institution, in return for stakes in the company of undisclosed size.
MICROCAPITAL BRIEF: Crowdfunders Kiva, Vittana Partner to Extend Student Loans for Higher Education in Developing World
US-based nonprofit crowdfunders Kiva Microfunds, which raises money for microfinance institutions (MFIs) to on-lend for various purposes, and Vittana, which raises funds for MFIs to on-lend for higher education, have formed a partnership to post Vittana’s student loan fundraising requests on Kiva’s website starting on March 31, 2014.
MICROCAPITAL BRIEF: Commercial Credit and Finance of Sri Lanka Raises $12m by Selling 25% Equity Stake to Creation Investments
Commercial Credit and Finance (CCF), a Sri Lanka-based financial company, recently reached an agreement with Creation Investments Social Ventures Fund II, a private equity fund managed by US-based Creation Investments Capital Management, to raise LKR 1.68 billion (USD 12.4 million) in equity funding through an issue of 80 million new shares.
MICROCAPITAL BRIEF: SKS Microfinance of India Completes $36m Securitization
SKS Microfinance (SKS), a for-profit Indian microfinance institution (MFI), recently completed a securitization deal worth INR 2.23 billion (USD 36 million).
MICROCAPITAL BRIEF: Creditcorp’s Financiera Edyficar of Peru to Acquire 61% Stake in Mibanco for $179m
Peru-based microlender Financiera Edyficar (Edyficar), an operating subsidiary of Peruvian bank holding company Creditcorp, recently announced that it will acquire a 60.7-percent stake in Mibanco, a Peruvian microfinance institution (MFI) that is a subsidiary of nonprofit holding company Grupo Accion Comunitaria del Peru (ACP).
MICROCAPITAL BRIEF: Nigerian Diamond Bank Partners with African Guarantee Fund to Lend $25m to Micro-, Small, Medium-Sized Enterprises (MSMEs)
African Guarantee Fund (AGF), a Kenya-based organization that aims to increase financial inclusion by underwriting commercial bank lending to small and medium-sized enterprises (SMEs) in Africa, reportedly has agreed to guarantee 50 percent of USD 25 million by Diamond Bank Public Limited Company (PLC), a Nigerian commercial bank, via its affiliate institutions in Benin, Côte d’Ivoire, Nigeria, Senegal and Togo to micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: responsAbility Loans $20m to Microlender Enda Inter-Arabe of Tunisia
ResponsAbility Investments, a Swiss investor in microfinance and other sectors, recently notified MicroCapital that it has disbursed a loan of EUR 15 million (USD 20.4 million) to Enda Inter-Arabe, a Tunisian financial services provider that is also an arm of Senegal-based non-governmental organization Enda Third-World [1].
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) to Loan $6.8m to Intesa Leasing Belgrade of Serbia to Support Micro-, Small Enterprises
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV) backed by the European Union, recently has announced a new partnership agreement with Intesa Leasing Belgrade (ILB) of Serbia, the lease financing arm of Banca Intesa Belgrade, a Serbian commercial bank that is a wholly owned subsidiary of Italian banking group Intesa Sanpaolo.
MICROCAPITAL BRIEF: MicroCred Holding Raises $11m in Equity from Danish Microfinance Partners
MicroCred Holding, a French microfinance investment company that was created by French NGO PlaNet Finance, has raised EUR 8.4 million (USD 11.4 million) in equity funding through an issue of new shares to Danish Microfinance Partners (DMP), a Danish investment fund that invests in micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $20m to Attawfiq Micro-Finance for Microlending in Morocco
The International Finance Corporation (IFC), a US-based development finance institution and a member of the US-based World Bank Group, recently loaned USD 20 million to Attawfiq Micro-Finance, a nonprofit microfinance institution (MFI) based in Casablanca, Morocco, for onlending to microenterprises in an effort to further Morocco’s economic development.
MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $18m from Dual Return Funds to Microfinance Institutions in Asia, Latin America
Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently disbursed loans totaling USD 18.5 million for microfinance institutions (MFIs) in Armenia, Azerbaijan, Ecuador, El Salvador, Georgia, India, Peru, Sri Lanka and Tajikistan [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $25m to Belvnesheconombank (BelVEB) of Belarus to Support On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a 5-year loan of USD 25 million to Belvnesheconombank (BelVEB), a Belarus-based commercial bank owned by Russia’s Bank for Development and Foreign Economic Affairs (Vnesheconombank), the Belarusian development ministry, and the Minsk City Territorial Fund of State Property, the Belarusian municipal development fund.
MICROCAPITAL BRIEF: Triodos Loans $9.6m to Microfinance Institutions Grameen Koota of India, Koperasi Mitra Dhuafa (Komida) of Indonesia
Triodos Investment Management, a subsidiary of Dutch Triodos Bank, recently disbursed local currency loans totaling the equivalent of USD 9.6 million to Grameen Financial Services Private Limited (Grameen Koota), a non-banking financial company (NBFC) in India, and Koperasi Mitra Dhuafa (Komida), an Indonesian microfinance institution (MFI) [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $14m to Rosbank Leasing (RBL) of Russia for On-lending to Small and Medium-Sized Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a 5-year senior loan of RUB 500 million (USD 14.4 million) to Rosbank Leasing (RBL), the leasing subsidiary of Rosbank, a Russia-based commercial bank.