The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly plans to invest up to USD 25 million in India-based private equity firm BanyanTree Capital Advisors Limited, and investor in small and medium-sized enterprises (SMEs) in India.
Category: Deals
MICROCAPITAL BRIEF: Islamic Development Bank (IsDB) Approves $10m Participation in Irada Microfinance Institution of Sudan
The Islamic Development Bank (IsDB), a financial institution in Saudi Arabia, recently approved an equity investment of USD 10 million in IRADA Microfinance Institution Project, Sudan (Irada).
MICROCAPITAL BRIEF: Small Industries Development Bank of India (SIDBI) to Commit $5.8m in Equity, Loans to Small Microfinance Institutions
The Small Industries Development Bank of India (SIDBI), a state-owned bank, has committed INR 300 million (USD 5.8 million), 30 percent of its microfinance development fund, to small Indian microfinance institutions (MFIs) that have not received commercial funding since the liquidity crisis began in the microfinance sector in the Indian state of Andhra Pradesh late in 2010.
MICROCAPITAL BRIEF: Microcredit Foundation Prizma of Bosnia and Herzegovina to Borrow $2.7m from Sparkasse Bank
Microcredit Foundation Prizma, a microfinance institution (MFI) in Bosnia and Herzegovina, has received a loan of BAM 4 million (USD 2.7 million) from Sparkasse Bank, an Austrian-owned financial institution in Bosnia and Herzegovina, for the expansion of Prizma’s microfinance operations within the country.
MICROCAPITAL BRIEF: Karnataka Vikas Grameena Bank Reaches $1m of Solar Power Products Financed in India
Karnataka Vikas Grameena Bank (KVGB), a government-owned financial institution in India, has financed INR 61.38 crore (USD 1 million) worth of solar products in the Indian state of Karnataka since 1994.
MICROCAPITAL BRIEF: Banks Recast Loans of $136m for Indian Microfinance Institution Bhartiya Samruddhi (Basix)
Unspecified banks have recently recast loans totaling INR 7 billion (USD 136 million) for Bhartiya Samruddhi Finance Limited (Basix), an Indian microfinance institution (MFI) [1].
MICROCAPITAL BRIEF: European Investment Fund, Banca Transilvania Sign $10m Loan Agreement for Microfinance in Romania
The European Investment Fund, a public-private partnership that provides risk finance to lenders to small and medium-sized enterprises (SMEs) in Europe, and Banca Transilvania, a privately-owned Romanian bank, have signed a EUR 7.5 million (USD 10 million) loan agreement under the European Progress Microfinance Facility, an organization that provides grants and funding to microcredit lenders in the European Union.
MICROCAPITAL BRIEF: Progression Eastern African Microfinance Equity Fund (PEAMEF) Launches Operations in Kenya
Progression Eastern African Microfinance Equity Fund (PEAMEF), a limited-life investment fund incorporated in Mauritius, has launched its operations in Nairobi, Kenya, with a mission aimed at improving microfinance in Kenya, Tanzania, Rwanda, Zambia and Uganda.
MICROCAPITAL BRIEF: Calvert, Citi Foundations Launch Women Investing in Women Initiative (WIN-WIN) Channeling $20m to Microfinance
The Calvert Foundation, a US-based nonprofit specializing in social impact investment, in collaboration with Citi Foundation, the charitable arm of US-based financial services provider Citigroup, recently announced the launch of Women INvesting in Women INitiative (WIN-WIN) whereby USD 20 million will be invested to create opportunities for women lacking access to traditional financing.
MICROCAPITAL BRIEF: Grameen Foundation, USAID Issue $1m Guarantee to Microfinance Institution Proempresa of Peru
Grameen Foundation, a US-based nonprofit organization that aims to help microfinance institutions (MFIs) replicate Grameen Bank’s joint-liability lending model, and the United States Agency for International Development (USAID), a government agency that provides economic and humanitarian assistance, have issued a USD 1 million joint guarantee to support Proempresa, a Peru-based MFI.
MICROCAPITAL BRIEF: Human Welfare Foundation to Offer Interest-Free Microfinance Loans in India
The Human Welfare Foundation (HWF), an educational institute in India, will provide interest-free microloans across the country, according to a statement attributed to the foundation’s vice president, Professor K A Siddique Hassan.
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Guarantees Half of $2.7m From Standard Chartered Bank to Mitra Bisnis Keluarga (MBK) Ventura of Indonesia
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 an IDR 12.5 billion (USD 1.4 million) guarantee to Mitra Bisnis Keluarga (MBK) Ventura, an Indonesian microfinance institution (MFI), via a stand-by letter of credit through Credit Agricole Corporate and Investment Banking (CA-CIB), the investment banking arm of Credit Agricole Group.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $25m to Banco BBVA Panama
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, will provide a five-year credit line of USD 25 million to Banco BBVA Panama to expand its lending to farmers and small and medium-sized enterprises (SMEs) with the aim of promoting regional economic integration.
MICROCAPITAL BRIEF: Cameroon Cooperative Credit Union League (CamCCUL) to Launch $2m Project Funded by the World Bank’s Agricultural Finance Support Facility (Agrifin)
The Agriculture Finance Support Facility (Agrifin), a US-based program of the World Bank, is co-funding a USD 2 million project of the Cameroon Cooperative Credit Union League (CamCCUL), a microfinance institution (MFI) and network of 208 credit unions, that is intended to improve the volume and profitability of agribusiness lending of its members.
MICROCAPITAL BRIEF: Electronic Network Cash Tellers (ENCASH) Raises $2.56m from Funds Managed by Incofin, responsAbility to Deploy ATMs in the Philippines
Rural Impulse Funds II SA and responsAbility Ventures I, funds managed by Belgium’s Incofin Investment Management and Switzerland’s responsAbility Social Investments AG, respectively, recently infused a total of USD 2.56 million in equity capital into Electronic Network Cash Tellers Incorporated (ENCASH), a Philippines-based automatic teller machine (ATM) distributor [1].
MICROCAPITAL BRIEF: Small Industries Development Bank of India (SIDBI) Requires SKS Microfinance to Lend Only Outside Andhra Pradesh
Small Industries Development Bank of India (SIDBI), a governmental loan wholesaler to microfinance institutions (MFIs) in India, has reportedly required that SKS Microfinance Limited (SKS), an Indian MFI, use proceeds of a recent SIDBI loan for on-lending outside of the state of Andhra Pradesh [1].
MICROCAPITAL BRIEF: Triodos, Women’s World Banking to Co-Manage $30m Isis Microfinance Fund
Triodos Investment Management, which manages funds that invest in venture capital and social finance, has announced that it will act as co-investment manager alongside Women’s World Banking Asset Management for Isis Fund, an equity fund that aims to increase access to finance for women around the world.
MICROCAPITAL BRIEF: SKS Microfinance Borrows $20m from Small Industries Development Bank of India (SIDBI), Focuses Efforts Outside Andhra Pradesh
SKS Microfinance Limited (SKS), an Indian microfinance institution (MFI), reportedly has obtained a loan of INR 1 billion (USD 20.1 million) from the government-backed Small Industries Development Bank of India (SIDBI), a loan wholesaler to MFIs in India.