BRAC, an NGO that was formally known as the Bangladesh Rehabilitation Assistance Committee and serves eleven countries as of 2013, has bought 56.6 percent of the shares of Nanda Investments and Finance Public Limited Company, a Sri Lankan finance company specializing in deposits, loans, leasing and installment-based purchases [1].
Category: Deals
MICROCAPITAL BRIEF: Islamic Development Bank (ISDB), Government of Punjab Provide $195m for Microfinance Facility in Pakistan
The Islamic Development Bank (ISDB), a Saudi Arabia-based multilateral development financial institution, recently announced that it will disburse a loan of PKR 14.6 billion (USD 146 million) with a 0.5 percent interest rate per year to the Punjab provincial government of Pakistan for a microfinance facility that will provide interest-free loans to small enterprises in the province, which is home to approximately 90 million people.
MICROCAPITAL BRIEF: Etisalat, National Bank of Egypt, MasterCard to Launch Mobile Money Service in Egypt
The Egyptian subsidiary of the Emirates Telecommunications Corporation (Etisalat), a United Arab Emirates-based telecommunications services provider, recently formed two partnerships with the National Bank of Egypt (NBE), a commercial bank wholly owned by the Egyptian government, and MasterCard, a US-based payment solutions company, to launch a mobile commerce service known as “Flous,” meaning “money” in Arabic.
MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $5.7m to Bank Andara to Support Microfinance Institutions (MFIs) in Indonesia
Standard Chartered Bank (SCB), a UK-based financial services company, recently announced that it will disburse a loan of IDR 57 billion (USD 5.74 million) to Bank Andara, an Indonesian commercial institution that provides wholesale services to microfinance institutions (MFIs) and savings services to individuals.
MICROCAPITAL BRIEF: Silatech, Macroinvest, Jaida, Afif, ANAPEC, IYF, Ministry of Tourism to Support Moroccan Small and Medium-Sized Enterprises (SMEs), Youth
Silatech, a Qatar-based social enterprise that seeks to promote youth entrepreneurship and employment in Arab countries, recently announced seven new partnerships in an effort to support small and medium-sized enterprises (SMEs) and youth in Morocco.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $4m to FINCA Georgia to Support Micro- and Small Businesses, Entrepreneurs
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will provide a USD 4 million loan to the Republic of Georgia-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network, for on-lending to micro and small businesses as well as entrepreneurs in rural regions of Georgia.
MICROCAPITAL BRIEF: Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO) to Loan $10m to Societe Generale Ghana, Part for Small, Medium-Sized Enterprises (SMEs)
Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO), a French public-private development finance institution, reportedly has signed a seven-year USD 10 million loan agreement with Societe Generale (SG) Ghana, a Ghanaian bank that is a subsidiary of the French-owned Groupe Societe Generale, for on-lending to small and medium-sized enterprises (SMEs) as well as larger corporations.
MICROCAPITAL BRIEF: Myanmar Licences First Private Insurers
The Myanmar government reportedly has granted operating licenses to five insurance companies in line with its financial reform policy. International Kanbawza Insurance, a subsidiary of Kanbawza Bank (KBZ) is the first insurance company to have started operation in the city of Yangon, providing both standard insurance and microinsurance[1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considering $85m Facility for DeltaCredit Bank of Russia for Residential Mortgage Loans
The UK-based European Bank for Reconstruction and Development (EBRD) recently revealed the pending approval of a finance facility of up to the equivalent of USD 85 million disbursed in a mix of USD and RUB to DeltaCredit Bank, a commercial bank in Russia that specializes in mortgages for residential housing loans.
MICROCAPITAL BRIEF: AccessBank of Azerbaijan Receives $60m Syndicated Loan from FMO, OeEb, PROPARCO
Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Dutch development finance institution, recently notified MicroCapital that it has arranged a USD 60 million syndicated loan facility for AccessBank, a for-profit microfinance institution located in Azerbaijan.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Extends $10m Loan, $8m Trade-Finance Credit Line to Banco Financiera Centroamericana (Ficensa) of Honduras for Small and Medium-Sized Businesses
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will provide a USD 10 million senior loan and a USD 8 million trade-finance credit line to Banco Financiera Centroamericana (Ficensa), a Honduran financial institution, for on-lending to small and medium-sized businesses.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $106m to Banca Comerciala Romania (BCR) for Small and Medium-Sized Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently approved a EUR 80 million (USD 106 million) loan to Banca Comerciala Romania (BCR), a member of Austria-based financial service provider Erste Group Bank AG, for on-lending to small and medium-sized enterprises (SMEs) in Romania.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Guarantee $664m to Vnesheconom Bank (VEB) for Financing Micro-, Small, Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, is reviewing a proposal to guarantee loans of EUR 500 million (USD 664 million) to be disbursed by Vnesheconombank (VEB), a development bank owned by the government of Russia, to provide funding for micro-, small and medium-sized enterprises (MSMEs) through partner banks.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $9.3m to Mikrofin Banja Luka, MF Banka of Bosnia and Herzegovina for Micro- and Small Enterprise (MSE) in Rural Areas
The European Fund for Southeast Europe (EFSE), a Luxembourg-based government-backed investor in microfinance, has loaned a total of EUR 7 million (USD 9.3 million) to Mikrofin Banja Luka, a microfinance institution based in Bosnia and Herzegovina, and MF Banka, a subsidiary of Mikrofin formed in 2010, for on-lending to micro- and small enterprises (MSEs) in rural areas.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), European Bank for Reconstruction and Development (EBRD) Loan $4m to Mikrokreditna Fondacija Mi-Bospo of Bosnia and Herzegovina
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently notified MicroCapital that it has opened a EUR 1.5 million (USD 1.9 million) credit line for Mikrokreditna Fondacija Mi-Bospo, a microlender in Bosnia and Herzegovina (BiH) that loans exclusively to women [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considering $100m in Loans for National Bank of Egypt for Micro-, Small, Medium-Sized Enterprises; Trade Finance
The UK-based European Bank for Reconstruction and Development (EBRD) recently revealed the pending approval of a finance facility of up to USD 100 million for the National Bank of Egypt (NBE), which is wholly owned by the Egyptian government.
MICROCAPITAL BRIEF: Creation Investments Social Ventures Fund II Completes Closing with $75m, Disburses Equity Investments in Grupo Finclusion of Mexico; Sonata, Grameen Koota of India
Creation Investments Social Ventures Fund II, a US-based private equity fund managed by Creation Investments Capital Management, has completed final closing with USD 75 million in committed capital.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $13m to Newly Launched Sberbank BH of Bosnia and Herzegovina for Housing, Micro- and Small Enterprise (MSE)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment company, and Sberbank BH, the Bosnia and Herzegovina branch of government-owned Sberbank of Russia, recently signed a EUR 10 million (USD 13.3 million) loan agreement.