International Finance Corporation (IFC), the private-investment arm of the World Bank Group, is making a CNY 10 million (USD 1.6 million) equity investment in Urumqi Tianrong Microcredit Company, a joint venture of Mongolia-based TenGer Financial Group (TFG), IFC and three unidentified investors from China and Mongolia.
Category: Deals
MICROCAPITAL BRIEF: responsAbility Loans $3.3m to Microfinance Institutions D-Miro of Ecuador, Fielco of Paraguay, Nueva Vision of Peru
ResponsAbility Social Investments, a Swiss investment company, recently completed three investment deals with microfinance institutions (MFIs) in Ecuador, Paraguay and Peru.
MICROCAPITAL BRIEF: ResponsAbility Loans $4.1m to ACLEDA Laos, Middle East Micro Credit Company of Jordan
ResponsAbility Social Investments, a Swiss microfinance investment manager, has reached a total of three investment deals with microfinance institution (MFI) ACLEDA Laos Bank, an affiliate of Cambodian public limited company ACLEDA (formerly Associaton of Cambodian Local Economic Development Agencies) Bank and Middle East Micro Credit Company (MEMCC), a for-profit development finance institution in Jordan.
MICROCAPITAL BRIEF: Green for Growth Fund Loans $30.6m to Partner Microcredit Foundation of Bosnia and Herzegovina, Komercijalna Banka Beograd of Serbia
The Green for Growth Fund (GGF), a public-private partnership domiciled in Luxembourg that supports energy-efficient projects, has disbursed a loan of EUR 1.5 million (USD 1.9 million) to Partner Microcredit Foundation (Partner MCF), a microcredit organization based in Bosnia and Herzegovina, as well as a loan of EUR 23 million (USD 28.6 million) to Komercijalna Banka Beograd, a bank based in Serbia.
MICROCAPITAL BRIEF: Austrian Development Bank Oesterreichische Entwicklungsbank AG (OeEB) to Invest $18.75m in European Fund for Southeast Europe (EFSE)
Oesterreichische Entwicklungsbank AG (OeEB), Austria’s official development bank, recently pledged an investment of EUR 15.0 million (USD 18.75 million) to the European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg.
MICROCAPITAL BRIEF: Incofin, BIO Sign $12m Agreement to Develop Early-Stage Microfinance Institutions in Africa, Latin America, Asia
Incofin Investment Management (Incofin), a Belgian company that develops and manages microfinance investment funds, and the Belgian Investment Company for Developing Countries (BIO in Dutch), a state-owned development finance institution, recently signed a EUR 10 million (USD 12.6 million) agreement intending to assist in developing early-stage microfinance institutions (MFIs) in Africa, Latin America and Asia.
MICROCAPITAL BRIEF: European Fund for Southeast Europe Loans $8m to MF Banka a.d. Banja Luka, Microcredit Foundation EKI of Bosnia and Herzegovina
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg, has disbursed loans to Microcredit Foundation EKI (MCF EKI) and MF Banka a.d. Banja Luka, both of which are microfinance institutions located in Bosnia and Herzegovina.
MICROCAPITAL BRIEF: Advanced Bank of Asia (ABA) Loans $2m to Cambodian Microfinance Institution Prasac
Prasac, a Cambodian microfinance institution, borrowed USD 2 million in a recent deal from the Advanced Bank of Asia (ABA), a commercial Cambodian bank. According to Prasac CEO SIM Senacheert, an advantage of the domestic loan is that it allows Prasac to “diversify fund sources” as well as reducing its reliance on overseas capital, which has moved jobs away from Cambodia. Despite the higher interest rate on domestic loans compared with foreign loans, domestic loans take less time to close and their structure is less complicated.
MICROCAPITAL BRIEF: ResponsAbility Loans $6.4m to Microfinance Institutions KMF of Kazakhstan, FINCA Jordan, FINCA Azerbaijan
ResponsAbility Social Investments, a Swiss microfinance investment manager, has reached four investment deals with three microfinance institutions (MFIs) in central Asia and Jordan.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Approves $10m Loan to Nicaragua’s Banco de Finanzas for Rent-to-Own Housing
The Inter-American Development Bank (IDB), a US-based multilateral financial institution, has approved a USD 10 million, ten-year loan to Banco de Finanzas (BDF), a commercial bank in Nicaragua, to fund a pilot housing project in Nicaragua.
MICROCAPITAL BRIEF: LeapFrog Acquires Majority Stake in Ghana’s Express Life Insurance For $5.5m
LeapFrog Investments, a microinsurance equity fund based in Mauritius, recently acquired a majority stake in Ghana’s Express Life Insurance Company at the cost of USD 5.5 million.
MICROFINANCE EVENT: European Marketing Research Center (EMRC) Presents “African Finance & Investment Forum 2012: Financial Inclusion through SMEs & Cooperatives”, June 17 – 19, 2012, Utrecht and Floriade – Venlo, Netherlands
Event Name: African Finance & Investment Forum 2012: Financial Inclusion through SMEs & Cooperatives
Event Date: June 17 – June 19, 2012
Event Location: Rabobank Headquarters, Utrecht and Floriade – Venlo, Netherlands
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Launches $45m Credit Framework to Increase Household Energy Efficiency in Moldova
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in England, recently launched a EUR 35 million (USD 44.7 million) program called the Moldovan Residential Energy Efficiency Financing Facility (MoREEFF) to assist Moldovan households in reducing household energy usage and costs.
MICROCAPITAL BRIEF: Wincor Nixdorf Deploys Automated Teller Machines (ATMs) in Bangladesh
Wincor Nixdorf, a Germany-based information technology (IT) provider reportedly has announced it is supplying banks in Bangladesh with automated teller machine (ATM) technology in an effort to increase access to financial services via the self-service channel.
MICROCAPITAL BRIEF: International Finance Corporation, MasterCard Foundation Plan $37m Effort to Improve Financial Services in Africa
The International Finance Corporation (IFC), a member of the World Bank Group that supports private-sector development, and MasterCard Foundation, a Canada-based foundation that focuses on microfinance end education, recently announced a USD 37.4 million partnership to increase access to financial services in Sub-Saharan Africa.
MICROCAPITAL BRIEF: State Bank of Vietnam (SBV) to Implement Microfinance Sector Development Project Including Legal Framework, Capacity Development Through 2020
The State Bank of Vietnam (SBV), a Vietnamese government agency, recently has announced plans to implement a microfinance sector development project in the country until 2020.
MICROCAPITAL BRIEF: Government-Backed Microfinance Institution SA Finance Enterprise Agency (Safea) of South Africa Expected to Loan $384m
A new umbrella microfinance institution (MFI) SA Financial Enterprise Agency (Safea) has reportedly been established under the Industrial Development Corporation (IDC), a development finance institution backed by the government of South Africa.
MICROCAPITAL BRIEF: Bangko Sentral ng Pilipinas (BSP) May Broaden “Special” Program for Distressed Rural Banks as 3rd Straight Quarterly Rise Brings Bad Loan Ratio to 10%
Bangko Sentral ng Pilipinas (BSP), the central banking authority of the Philippines, has announced it is considering strengthening its Special Program for Rural Banks (SPRB), which lays out guidelines for assisting “distressed” rural banks.