Switzerland’s responsAbility Social Investments AG (responsAbility) recently reported to MicroCapital that it has made loans amounting to USD 4 million to Cambodian financial institutions ACLEDA Bank and Hattha Kaksekar Limited (HKL).
Category: Deals
MICROCAPITAL BRIEF: United Nations (UN) International Fund for Agricultural Development (IFAD) Provides $100m to Ethiopia for Rural Microfinance, Bridges to Traditional Banks
The United Nations (UN) International Fund for Agricultural Development (IFAD), an organization working to alleviate rural poverty in developing nations, has pledged to provide USD 100 million to the Federal Democratic Republic of Ethiopia for the Rural Financial Intermediation Programme Phase II (RUFIP II).
MICROCAPITAL BRIEF: responsAbility Invests $2.3m in Microfinance Institutions Arnur Credit of Kazakhstan, FINCA Armenia, FinDev of Azerbaijan
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totaling the equivalent of USD 2.3 million in microfinance institutions (MFIs) Arnur Credit of Kazakhstan, FINCA Armenia and Finance for Development LLC (FinDev) of Azerbaijan [1].
MICROCAPITAL BRIEF: RCBC of the Philippines to Merge JP Laurel Bank into Rizal Microbank by April
Rizal Commercial Banking Corporation (RCBC), a development bank based in the Philippines, reportedly is looking to integrate the operations of its microfinance subsidiaries, President Jose Laurel Rural Bank Incorporated (JP Laurel Bank) and Rizal Microbank by April.
MICROCAPITAL BRIEF: FMO of the Netherlands to Loan $10m to Microfinance Institution Vision Banco of Paraguay for On-Lending to Micro- and Small Enterprises
The Netherlands Development Finance Company (FMO in Dutch), a public-private partnership, has signed an agreement to loan the equivalent of USD 10 million to Vision Banco, a microfinance institution (MFI) in Paraguay [1].
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Approves $10m Loan to MicroEnergy Credits (MEC) to Promote Clean Energy Microfinance
The Overseas Private Investment Corporation (OPIC), an agency of the US government, has approved a loan of USD 10 million to MicroEnergy Credits (MEC), a US-based, for-profit firm, to assist microfinance institutions (MFIs) in launching clean-energy lending programs.
MICROCAPITAL BRIEF: European Fund for Southeast Europe Lends $24m to AccessBank of Azerbaijan, Kreditimi Rural I Kosoves of Kosovo, Byblos Bank Armenia, Alter Modus of Montenegro
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, has reported to MicroCapital that it has made loans to the following institutions: USD 15 million to AccessBank of Azerbaijan, the equivalent of USD 649,000 to Kreditimi Rural I Kosoves (KRK) of Kosovo, the equivalent of USD 5.27 million to Byblos Bank Armenia and approximately USD 3.89 million to Alter Modus of Montenegro. The loan to Byblos Bank was disbursed in two tranches: a local currency loan of AMD 875 million (USD 2.27 million) and an additional transaction of USD 3 million. The loan to Alter Modus was disbursed in tranches of USD 1.3 million and USD 2.6 million.
MICROCAPITAL BRIEF: Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), European Fund for Southeast Europe (EFSE), European Investment Fund to Loan $38m to Alternatifbank A.S. (ABank) of Turkey
Alternatifbank A.S. (ABank), a private commercial bank in Turkey, has entered into a loan agreement with German development finance institution Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG) and the European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, to receive EUR 30 million (USD 38.7 million) to boost credit availability for micro-, small and medium-sized enterprises (MSMEs) in Turkey [1].
MICROCAPITAL BRIEF: World Bank Approves $100m Loan to Facilitate Implementation of “Financial Consolidation and Inclusion Project” in Mexico
The World Bank’s (WB’s) Board of Directors recently approved a loan of USD 100 million to support the “Financial Consolidation and Inclusion Project” in Mexico.
MICROCAPITAL BRIEF: Vietnam Sets 10-Year Microfinance Strategy, French Development Agency Donates $1.3m
The Prime Minister of Vietnam recently approved a National Microfinance Strategy, which aims to develop a safe and sustainable microfinance system to ensure social welfare and sustainable poverty eradication in the country
MICROCAPITAL BRIEF: Armenia’s Small and Medium Business Credit Support Invests $2.6m in European Fund for Southeast Europe’s Armenia Local Currency Facility
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, recently announced that the Small and Medium Business Credit Support (SMBCS), a subsidiary of the Central Bank of Armenia, will invest EUR 2 million (USD 2.6 million) in EFSE’s new Armenia Local Currency Facility.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Arranges $9m Syndicated Loan for Microfinance Institution Mol Bulak Finance of Kyrgyz Republic Largely Funded by FMO, Loans $39m to ProCredit Bank Serbia
Mol Bulak Finance, a microfinance institution (MFI) in the Kyrgyz Republic, will receive a syndicated loan in local currency equivalent to USD 9 million arranged by the European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in London [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $4m in Local Currency to First MicroFinance Bank of Tajikistan to Support Small Businesses
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in London, recently announced that it has committed to loan the equivalent of USD 4 million in the local currency, somoni, to First MicroFinance Bank (FMFB-TJK), a microfinance bank in Tajikistan that is affiliated with the Switzerland-based Aga Khan Development Network (AKDN) [1].
MICROCAPITAL BRIEF: Fortis Mobile Money to Enable Mobile Phone Banking for 180 Members of Nigeria’s National Association of Microfinance Banks, Lagos State Chapter (NAMBLAG)
The National Association of Microfinance Banks, Lagos State Chapter (NAMBLAG) of Nigeria has signed a memorandum of understanding with Fortis Mobile Money, a mobile money operator licensed by the Central Bank of Nigeria, to enable NAMBLAG’s 180 microfinance bank (MfB) members to offer mobile banking services to their customers.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Commits $520m to Small and Medium-Sized Agribusiness Enterprises in Turkey, Invests $31m in Sekerbank Bond Programme
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in London, recently announced that it has committed EUR 400 million (USD 520 million) to increase financing to small and medium-sized enterprises (SMEs) in the agribusiness sector in Turkey [1].
MICROCAPITAL BRIEF: Vittana Receives $250k Grant from Google to Expand Online Lending for Education Microfinance
Vittana, a US-based nonprofit that raises funding for microloans for higher education in developing countries, has received a USD 250,000 grant from US-based internet and software company Google to expand its work over the course of two years [1].
MICROCAPITAL BRIEF: Incofin Lends $6m to Microfinance Institutions Vision Banco of Paraguay, Lazika Capital of Georgia, Credit Mongol of Mongolia, Forus Bank of Russia
Belgian company Incofin Investment Management (Incofin IM) has disbursed loans through microfinance investment funds it manages to four microfinance institutions (MFIs): USD 3 million to Vision Banco of Paraguay, USD 1 million to Lazika Capital of Georgia, USD 1 million to Credit Mongol LLC of Mongolia and USD 1 million to Forus Bank of Russia [1, 2, 3, 4].
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Approves $50m Loan to Expand Access to Microcredit in Ecuador
The Inter-American Development Bank (IDB), a US-based multilateral finance institution, has approved a USD 50 million loan to expand access to microcredit in Ecuador, particularly among low-income women.