Aeon Financial Service Company Limited (Aeon), a Japanese-based credit and financial services provider, recently announced that it has launched Aeon Microfinance (Myanmar) Company, a consumer credit services subsidiary based in the Myanmar State of Yangon.
Category: Deals
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loans $50m to AccessBank of Azerbaijan for Micro-, Small, Medium-sized Enterprises in Rural Areas
AccessBank, an Azerbaijani for-profit microfinance institution (MFI), recently notified MicroCapital that the Asian Development Bank (ADB), a multilateral finance institution based in the Philippines, will provide a USD 50 million five-year senior loan facility to AccessBank.
MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $92m to National Microfinance Bank (NMB) of Tanzania for Micro-, Small, Medium-sized Enterprises
The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently loaned EUR 70 million (USD 92.4 million) to the National Microfinance Bank (NMB), a Tanzanian microfinance institution (MFI) that is 30-percent government-owned to support micro-, small and medium-sized enterprises (MSMEs) in Tanzania. The transaction is a long-term loan to NMB that will enable NMB to provide medium-term loans to MSMEs.
MICROCAPITAL BRIEF: African Development Bank (AfDB) Loans $17m to Société Nigérienne de Banque (Sonibank) of Niger to Support Private Sector
African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently approved a credit line in the amount of EUR 13 million (USD 17 million) to Société Nigérienne de Banque (Sonibank), a commercial bank in Niger.
MICROCAPITAL BRIEF: European Investment Bank (EIB) to Loan $12b by 2020 to African, Caribbean, Pacific Countries for Infrastructure, Private Business, Regional Developments
The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently announced that it will loan a total of EUR 9 billion (USD 12 billion) by 2020 to institutions in Africa, Caribbean and Pacific (ACP) regions through its ACP Investment Facility, a revolving and risk-bearing fund for private sector investment.
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $6m to Enda Inter-Arabe of Tunisia for Young Entrepreneurs, Micro, Small, Medium-sized Enterprises in Rural Areas
The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative that invests in financial institutions in the Middle East and North Africa, recently loaned the local-currency equivalent of USD 6 million to Enda Inter-Arabe (Enda), a financial services provider and Tunisia-based arm of non-governmental organization Enda Third-World, to support Enda’s expansion into poor rural areas of Tunisia; increase product offerings to young entrepreneurs; provide financial services to micro, small and medium-sized enterprises; and promote the empowerment of women. The loan is Sanad’s first debt investment in the country [1].
MICROCAPITAL BRIEF: MicroCredit Enterprises Partners with Freedom from Hunger to offer Health-related Services to Clients of Microfinance Institutions (MFIs)
MicroCredit Enterprises (MCE), a US-based NGO microfinance fund manager, and Freedom from Hunger, a US-based NGO that aims to alleviate hunger and poverty, are collaborating on a project that will offer “health-related education, loans, savings, insurance and linkages to local healthcare providers” in hopes that it will alleviate loan defaults caused by poor health and strengthen clients’ abilities to endure income-producing activities [1].
MICROCAPITAL BRIEF: AG Finance of the Philippines Embarks on Initial Public Offering (IPO) of $3.4m
AG Finance, a Philippines-based microfinance institution (MFI), recently announced that it will embark on an initial public offering (IPO) of PHP 150 million (USD 3.4 million).
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Siddhartha Bank Limited (SBL) Purchase 440k Shares of Rural Microfinance Development Center (RMDC) of Nepal Via Initial Public Offering (IPO)
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently purchased 300,000 shares at NPR 180 (USD 1.87) per unit from an initial public offering (IPO) by the Rural Microfinance Development Center (RMDC), a Nepal-based wholesale microcredit lender.
MICROCAPITAL BRIEF: Pasha Bank Underwrites Inaugural Bond Issue of $12.7m to FINCA Azerbaijan to Support Micro and Small Businesses, Entrepreneurs
Pasha Bank, an Azerbaijan-based financial services provider, recently underwrote a three-year inaugural bond issue of AZN 10 million (USD 12.7 million) to the Azerbaijan-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network.
MICROCAPITAL BRIEF: Old Mutual Group (OM) Acquires Microfinance Company Faulu Kenya
Old Mutual Group (OM), a South Africa- and UK-based insurance and banking institution, reportedly has purchased a majority stake in Kenya’s Faulu Company, a deposit-taking microfinance company founded in 1992.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $2m to Kreditimi Rural i Kosoves of Kosovo
The UK-based European Bank for Reconstruction and Development (EBRD) recently loaned EUR 1.5 million (USD 2 million) to Kreditimi Rural i Kosoves Limited Liability Company (KRK), a non-bank microfinance institution (MFI) that serves rural areas in Kosovo, for on-lending to small and medium-sized enterprises (SMEs) and residential clients in Kosovo for energy efficiency and renewable energy projects.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $1m to BancoSol of Bolivia to Support Rural Areas
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently notified MicroCapital that it will provide a loan of up to USD 1 million to Banco Solidario SA (BancoSol), a Bolivian commercial bank that offers microfinance services, in an effort to improve financial access for farmers and poor rural families in the Bolivian cities of La Paz, Oruro and Potosi [1].
MICROCAPITAL BRIEF: Gray Matters Capital Invests Equity in Unitus Capital
Unitus Capital (UC), a Bangalore-based financial services firm that specializes in capital market services for microfinance institutions (MFIs) and other social enterprises in Asia, recently announced that Gray Matters Capital (GMC), a US-based private foundation, invested an undisclosed amount in UC to fund social businesses that both assist poor clients and generate financial returns.
MICROCAPITAL BRIEF: Germany’s Kreditanstalt fur Wiederaufbau (KfW) Loans $130m to Small Industries Development Bank of India (SIDBI) for Micro-, Small and Medium-Sized Enterprise (MSME)
Kreditanstalt fur Wiederaufbau (KfW), a German development bank, recently loaned a total of EUR 100 million (USD 130 million) to Small Industries Development Bank of India (SIDBI), a state-owned bank, for on-lending to micro-, small and medium-sized enterprises (MSMEs) in India.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $80m to Turkey’s Yapi Kredi for SME Energy Efficiency Projects
The UK-based European Bank for Reconstruction and Development (EBRD) recently loaned USD 80 million to Yapi Kredi, a Turkish commercial bank, in an effort to promote energy efficiency and renewable energy investments for small and medium-sized enterprises in Turkey.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $65m to Türk Ekonomi Bankasi of Turkey for Rural Micro-, Small, Medium-Sized Enterprises
The UK-based European Bank for Reconstruction and Development (EBRD) recently loaned USD 65 million to Türk Ekonomi Bankasi (TEB), a Turkish commercial bank, to be on-lent to micro-, small and medium-sized enterprises (MSMEs) in an effort to boost agribusinesses in rural areas of Turkey [1].
MICROCAPITAL BRIEF: Fairtrade Access Fund Loans $1.8m to Coffee, Cacao, Sugar Cooperatives COAGRICSAL of Honduras, UCOSEMUN of Nicaragua, NORANDINO of Peru
The Fairtrade Access Fund (FAF), an affiliate of German NGO Fairtrade International that provides loans to farmers in developing countries, recently disbursed a total equivalent to USD 1.8 million to Cooperativa Agrícola Cafetalera San Antonio Limitada (COAGRISCAL) of Honduras, Unión de Cooperativas de Servicios Múltiples (UCOSEMUN) of Nicaragua and Cooperativas de Servicios Múltiples Norandino (NORANDINO) of Peru.