Lok Capital, a Mauritius-based microfinance investment vehicle, has reportedly announced plans to sell its stake in Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI).
Category: Deals
MICROCAPITAL BRIEF: Citi to Buy 1.1m Tons of Carbon Credits from MicroEnergy Credits, Offsetting Cost of Efficient Heaters Financed by Mongolian Microfinance Institution XacBank
Citi Microfinance, a subsidiary of US-based Citibank that supports microfinance institutions (MFIs), and Citibank’s Environmental Products Trading and Organization Team recently announced a plan to buy 1.17 million metric tons of carbon credits from MicroEnergy Credits (MEC), a US-based for-profit firm that assists MFIs in launching clean-energy lending programs.
MICROFINANCE BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Issues $1.25m Loan to Hattha Kaksekar Limited of Cambodia, $800k to Alide of Benin
The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued a loan of USD 1.25 million with a three-year term and a one-year grace period to Hattha Kaksekar Limited (HKL), a Cambodian microfinance institution (MFI).
MICROCAPITAL BRIEF: Canada’s Development International Desjardins (DID), Belgian Investment Company for Developing Countries Partner to Finance Small Enterprises in Central Africa
Development International Desjardins (DID), the social arm of Canadian cooperative financial firm, the Desjardins Group; and Belgian Investment Company for Developing Countries has recently agreed to provide support to small enterprises in Central Africa.
MICROCAPITAL BRIEF: Bamboo Finance, ZS Associates Co-Founder Invest $4m in Equity in Greenlight Planet to Boost Research, Distribution Network of LED Lamps in Rural India
Bamboo Finance, a Switzerland-based investment firm, and Dr PK Sinha, co-founder of US-based consulting firm ZS Associates, recently invested a total of INR 206 million (USD 4 million) in equity in Greenlight Planet, an Indian company that aims to provide “low-cost” energy products to low-income households in emerging markets.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $15m to Microfinance Institution AccessBank of Azerbaijan for Micro-, Small and Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development, a financial institution headquartered in London, recently signed an agreement to loan USD 15 million to AccessBank, a microfinance institution in Azerbaijan.
MICROCAPITAL BRIEF: IKEA Foundation Donates $39m to United Nations Development Program’s “Swaayam” Women’s Empowerment Program in India
The IKEA Foundation, a charitable foundation affiliated with Dutch furniture retailer IKEA, recently committed a donation of EUR 30 million (USD 39 million) to Swaayam, a pilot program that aims to boost the social, political and economic empowerment of poor women in India. Swaayam provides women with financial, literacy and leadership education as well as accessing microloans through self-help groups.
MICROCAPITAL BRIEF: Bamboo Finance Invests $3m in Equity in Vienova Education of India
Bamboo Finance, a Switzerland-based investment firm, recently has invested INR 157 million (USD 3 million) in Vienova Education Private Limited, an Indian education provider.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Wells Fargo Partner To Launch $200m Facility to Increase Trade Finance for Banks in Emerging Markets, Half in Middle East, North Africa
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and Wells Fargo, an American financial services provider, recently teamed up to launch a USD 200 million, five-year risk-sharing facility to support the trade financing needs of banks in emerging countries with the aim to propel economic growth and job creation.
MICROCAPITAL BRIEF: Liberian Senate President Disburses First Tranche of $18k Microloan Fund
Liberian Senate President Pro-Tempore Gbehzohngar Findley reportedly has disbursed LRD 600,000 (USD 8,100) to provide microloans for small-scale retailers in Liberia’s Grand Bassa County.
MICROCAPITAL BRIEF: Private Equity Investments in Small and Medium Enterprises (SMEs) in India Rise 70% to $664m
The Planning Commission of the government of India recently released a preliminary approach paper regarding its 12th five-year plan (2012-2017) [1].
MICROCAPITAL BRIEF: Islamic Development Bank, UN’s AGFUND, Sudanese Government Fund Provide Capital of $5m to Microfinance Institution Al-Ebda’a
Al-Ebda’a, a Sudanese microfinance institution (MFI), was recently established with USD 5 million in capital.
MICROCAPITAL BRIEF: Lok Capital, Proparco Invest $5m in Equity in India’s IFMR Rural Channels and Services
Lok Capital LLC, a Mauritius-based microfinance investment vehicle, and its Proparco, a French development finance institution, have recently invested INR 260 million (USD 5 million) in equity in the Institute for Financial Management and Research (IFMR) Rural Channels and Services, a company of IFMR Trust that provides financial services in rural India.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), BNP Paribas Partner on $100m Facility to Increase Agriculture Financing in Sub-Saharan Africa, Eastern Europe
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and BNP Paribas (Suisse) SA, the Swiss subsidiary of France-based financial services provider BNP Paribas recently teamed up to launch a USD 100 million, three-year risk-sharing facility to support the financing needs of agriculture firms in Sub-Saharan Africa and Eastern Europe.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Lends $75m to Yes Bank of India to Increase Funding for Small Businesses, Farms in India
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently announced it will be lending USD 75 million to India’s Yes Bank, a commercial bank headquartered in Mumbai, to support its on-lending activities to small and medium-sized enterprises and agricultural clients.
MICROCAPITAL BRIEF: Government of Khyber Pakhtunkhwa, Pakistan, Allocates $66m to Microfinance, Primarily for Youth, Artisans
The government of the Pakistani province of Khyber Pakhtunkhwa has reportedly allocated PKR 6 billion (USD 66.3 million) to microcredit.
MICROCAPITAL BRIEF: Advans SA Opens Microfinance Institution Advans Cote d’Ivoire, International Finance Corporation (IFC) Invests $1m in Equity
Advans SA, a microfinance investment vehicle managed by Horus Development Finance of France, has announced that it has opened the first branch of its fifth microfinance institution (MFI), Advans Cote d’Ivoire, in Abidjan, the capital of the country.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $10m to NBD Bank of Russia to Support Small Businesses
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has provided a five-year loan of RUB 300 million (USD 10 million) to Russia-based NBD Bank to support small businesses in small company towns in central Russia.