Hassan al Sayed, head of Sudanese trade group Insurance Companies Union (ICU), reportedly has said that an agreement has been reached to guarantee an unspecified volume of microfinance loans.
Category: Deals
MICROCAPITAL BRIEF: Pakistan Poverty Alleviation Fund Invests in Jinnah Welfare Society Through Newly-Launched Equity Fund for Microfinance Institutions Aimed at Attracting Commercial Funding For Rural Expansion
The nonprofit Pakistan Poverty Alleviation Fund (PPAF) reportedly has established an equity fund to invest in microfinance institutions (MFIs) in an effort to facilitate access to commercial financing, with the ultimate goal of increasing growth and facilitating expansion into rural areas.
MICROCAPITAL BRIEF: Indian Microfinance Institution Utkarsh Raises $5m in Equity from Norwegian Microfinance Initiative, Aavishkaar Goodwell, International Finance Corporation
Utkarsh Micro Finance Private Limited (Utkarsh), an Indian microfinance institution (MFI), has raised equity commitments of INR 15.8 crores (USD 3.2 million) from Norwegian Microfinance Initiative (NMI) Frontier Fund, a public-private partnership (PPP) that provides technical and financial support to “emerging” microfinance institutions; INR 6 crores (USD 1.2 million) from Aavishkaar Goodwell India Microfinance Development Company (AG), an Indo-Dutch for-profit private investor in Indian MFIs; and INR 3.2 crores (USD 650,000) from International Finance Corporation, the private-sector investment arm of the World Bank Group [1].
MICROCAPITAL BRIEF: Mexican Microfinance Institution Banco Compartamos Issues $147m in Long-Term Debt
Mexican microfinance institution Banco Compartamos, S A, Institucion de Banca Multiple has issued local bank bonds (certificados bursatiles bancarios) amounting to MXN 2 billion (USD 147 million) in the local debt capital market.
MICROCAPITAL BRIEF: Inter-American Development Bank Approves Loan Worth $30m to Support Micro-, Small and Medium-Sized Enterprise in El Salvador
The Inter-American Development Bank (IDB), a US-based development finance institution, recently approved a loan of USD 30 million to the “Program to Support Production Development for International Integration,” which will be carried out by El Salvador’s Ministry of Economy, the Ministry of Foreign Affairs and the export promotion agency, National Investment Promotion Agency (PROESA) [1].
MICROCAPITAL BRIEF: Indian Rating Agency ICRA Assigns “A2(SO)” Rating to $1.45m in Pass Through Certificates from Microfinance Institution Arohan
Indian rating agency ICRA Limited (ICRA) has assigned a conditional rating of A2(SO) to a series of pass through certificates (PTCs) backed by INR 7.18 crores (USD 1.45 million) in microloan receivables originated by Arohan Financial Services Private Limited (Arohan), a Kolkata-based non-banking financial company (NBFC).
MICROCAPITAL BRIEF: responsAbility Loans $9.2m to Microfinance Institutions FINCA of Mexico, IDEPRO of Bolivia, EDPYME Alternativa of Peru, D-Miro of Ecuador
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it made loans to microfinance institutions (MFIs) through its MIVs equivalent to the following amounts: the local-currency equivalent of USD 4.92 million to FINCA Mexico, the local-currency equivalent of USD 850,000 to Instituto para el Desarrollo de la Pequeña Unidad Productiva (IDEPRO) in Bolivia, USD 1.41 million to Entidad de Desarrollo a la Pequeña y Micro Empresa (EDPYME) Alternativa in Peru and USD 2 million to Fundación para el Desarrollo Microempresarial D-Miro (D-Miro) in Ecuador [1].
MICROCAPITAL BRIEF: IFMR Capital Securitizes $15m in Microloans Originated by Indian Microfinance Institutions (MFIs) Asirvad, Disha, Grameen Koota, Mimoza, Satin Creditcare, Suryoday, SV Creditline, Utkarsh
IFMR Capital, a private India-based company that aims to provide liquidity and debt capital to financial institutions that serve poor people, recently securitized a “multi-originator” portfolio of 49,881 loans with a total value of INR 511 million (USD 10.5 million).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), FMO of the Netherlands, Bank im Bistum Essen eG of Germany Syndicate $8m Loan for Bank Eskhata of Tajikistan For Microfinance, Small and Medium-Sized Enterprises (SMEs)
Bank Eskhata, a commercial bank located in Tajikistan, will receive a USD 8 million syndicated loan funded by three European financial institutions: the Netherlands Development Finance Company (FMO in Dutch), a public-private partnership, will provide USD 5 million; the European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, will provide USD 2 million; and Bank im Bistum Essen eG (BiB), a German cooperative bank, will provide USD 1 million.
MICROCAPITAL BRIEF: Money Manager Christofferson, Robb and Company to Establish $400m Fund to Facilitate Commercial Investment in Small and Medium-Sized Enterprises (SMEs); International Finance Corporation (IFC) Commits $100m
Christofferson, Robb and Company (CRC), a private UK- and US-based money manager, is working to raise USD 400 million for a new “capital release fund” that will allow banks and financial institutions in developed countries to reduce the amount of capital that must be set aside against losses from their loans to small and medium-sized enterprises (SMEs) in developing countries.
MICROCAPITAL BRIEF: BNP Paribas Loans $1.9m to Microfinance Institutions Fundación Espoir of Ecuador, Amret of Cambodia
BNP Paribas, a financial service provider based in France, recently made loans totaling the equivalent of USD 1.9 million to two microfinance institutions (MFIs): Fundación Espoir (Espoir) of Ecuador and Amret Company Limited (Amret) of Cambodia [1].
MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Ujjivan Looking to Raise $138m from Private, Public Sector Banks
Ujjivan Financial Services, an Indian microfinance institution (MFI), reportedly plans to raise up to INR 6.2 billion (USD 138 million) from the Small Industries Development Bank of India (SIDBI), a government-owned financial institution, along with other unspecified private and public-sector banks.
MICROCAPITAL BRIEF: Indian Microfinance Institution Bandhan Financial Services Raises $29m in Equity from International Finance Corporation (IFC), Arranged by Intellecap
Indian microfinance institution (MFI) Bandhan Financial Services Private Limited recently raised INR 135 crore (the equivalent of USD 29 million) from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $10m to Metcombank of Russia for On-Lending to Small and Medium-Sized Enterprises (SMEs)
International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan RUB 300 million (USD 10.3 million) to Joint Stock Company Metallurgic Commercial Bank (Metcombank), a private Russian lender.
MICROCAPITAL BRIEF: responsAbility Loans $4.4m to Profinanzas of Peru, Coomuldesa of Colombia, the Mexican Arms of ProCredit and ProMujer
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance, recently reported to MicroCapital that it made debt investments totaling the approximate equivalent of USD 4.4 million through microinvestment vehicles (MIVs) it manages to Profinanzas of Peru, Coomuldesa of Colombia and the Mexican arms of ProCredit and ProMujer.
MICROCAPITAL BRIEF: responsAbility Invests $13.5m in Microfinance Institutions (MFIs) VisionFund Cambodia, Equity Bank of Kenya
responsAbility Social Investments AG, a Swiss for-profit company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments of USD 13.5 million in microfinance institutions (MFIs) Equity Bank of Kenya and VisionFund Cambodia.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Syndicates $19m Loan for Municipal Marketplaces in El Salvador with Participation from Oikocredit, VDK Spaarbank, Bank Im Bistum
The Inter-American Development Bank (IDB), a US-based development finance institution, announced that it recently closed a USD 19 million syndicated loan with participation from Dutch cooperative Oikocredit, VDK Spaarbank of Belgium and Bank Im Bistum Essen of Germany to upgrade municipal marketplaces in El Salvador.
MICROCAPITAL BRIEF: Vijay Mahajan of Microfinance Firm BASIX Says Firm to Explore Foreign Investors if Domestic Banks Refuse to Lend
Mr Vijay Mahajan, chairman of BASIX Group, an Indian company whose holdings include two microfinance institutions (MFIs), has reportedly announced that if the company does not get a capital infusion of INR 450 crores (USD 98 million) by end of September from domestic sources, it will have to explore partnering with foreign investors [1].