The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is lending EUR 10 million (USD 13.5 million) to Societe Generale Banka Montenegro, a subsidiary of French banking group Societe Generale, for on-lending to individual borrowers to finance long-term residential mortgages in Montenegro.
Category: Eastern Europe and Central Asia
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $25m to Belvnesheconombank (BelVEB) of Belarus to Support On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a 5-year loan of USD 25 million to Belvnesheconombank (BelVEB), a Belarus-based commercial bank owned by Russia’s Bank for Development and Foreign Economic Affairs (Vnesheconombank), the Belarusian development ministry, and the Minsk City Territorial Fund of State Property, the Belarusian municipal development fund.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $14m to Rosbank Leasing (RBL) of Russia for On-lending to Small and Medium-Sized Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a 5-year senior loan of RUB 500 million (USD 14.4 million) to Rosbank Leasing (RBL), the leasing subsidiary of Rosbank, a Russia-based commercial bank.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $34.3m to European Fund for Southeast Europe (EFSE) for On-lending to 4k Micro- and Small Enterprises (MSEs) via Retail Lenders
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a loan of EUR 25 million (USD 34.3 million) to the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV) that was initiated by German development bank Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW) with the financial support of the German development ministry Bundesministerium für Wirtschaftliche Zusammenarbeit und Entwicklung (BMZ) and the European Commission.
MICROCAPITAL BRIEF: Kompanion Financial Group of Kyrgyzstan Receives Syndicated Loan of $12m from European Bank for Reconstruction and Development (EBRD), Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has announced that it has arranged a three-year syndicated loan in local currency equivalent to USD 12 million for Kompanion Financial Group, a microfinance institution (MFI) in Kyrgyzstan [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Lends $47m to Orient Express Bank of Russia to Support Energy Efficient Investments, Agriculture
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has announced that it has disbursed three loans in local currency equivalent to EUR 34 million (USD 46.5 million) to Orient Express Bank (OEB), a private commercial bank in Russia [1].
MICROCAPITAL BRIEF: Citigroup, Overseas Private Investment Corporation (OPIC) Lend $10m to Bank of Georgia to Support Financial Inclusion of Micro-, Small Enterprises (MSEs)
Citigroup (Citi), a US-based financial services corporation with operations in 140 countries, and the Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, have announced a term-loan of USD 10 million to Bank of Georgia, a commercial bank in Georgia that is a subsidiary of UK-based Bank of Georgia Holdings, to support the financial inclusion of microentrepreneurs and small businesses in Georgia [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $68m to Garanti Leasing of Turkey to Support On-lending to Micro-, Small, Medium-sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has opened a credit line of EUR 50 million (USD 68.3 million) for Garanti Leasing (GL), a leasing company subsidiary of Turkey’s Garanti Bank (GB), to be on-lent to micro-, small and medium-sized enterprises (MSMEs) in the country.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $1.5m to FINCA MDO for Microlending in Tajikistan
IFC, a US-based international financial institution and a member of the US-based World Bank Group, plans to loan USD 1.5 million to Foundation for International Community Assistance (FINCA) Microcredit Deposit Organization (MDO), a microfinance institution (MFI) based in Tajikistan that is a part of the US-based, nonprofit FINCA International microfinance network.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $3.4m to Agricultural Cooperative Bank of Armenia (ACBA) Leasing in Armenia, Makes $106k Equity Investment in Kreditimi Rural i Kosoves of Kosovo
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV) backed by multiple governments, has disbursed two loans totaling USD 3.4 million in Armenia to Agricultural Cooperative Bank of Armenia (ACBA) Leasing, the leasing subsidiary of ACBA [1].
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $63m to Belorusian-Russian Belgazprombank of Belarus, Banca Transilvania of Romania, Microfinance Institution AccessBank of Azerbaijan
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV) backed by multiple governments, recently disbursed loans intended to benefit micro-, small and medium-sized enterprises (MSMEs) in the following amounts: EUR 20 million (USD 27.4 million) to Belorusian-Russian Belgazprombank, a Belorusian bank; EUR 15 million (USD 20.5 million) to Banca Transilvania, a privately-owned Romanian bank; and USD 15 million to AccessBank, an Azerbaijani for-profit microfinance institution (MFI) and a member of Germany’s Access Microfinance Holding (AccessHolding) [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO) Buy 25% of Microfinance Institution Imon of Tajikistan for $6.5m
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution that finances development projects, and Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Dutch public-private partnership that aims to promote growth in developing economies, recently announced a joint investment of USD 6.5 million in Imon International, a microfinance institution in Tajikistan.
MICROCAPITAL BRIEF: Absolute Portfolio Management’s Dual Return Funds Loan $19m to Microfinance Institutions in Armenia, Bosnia and Herzegovina, Cambodia, Costa Rica, Ecuador, Georgia, India, Kazakhstan, Mongolia
Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently informed MicroCapital that it issued loans equivalent to approximately USD 19 million during November 2013 through the Dual Return Funds it manages to microfinance institutions in Armenia, Bosnia and Herzegovina, Cambodia, Costa Rica, Ecuador, Georgia, India, Kazakhstan and Mongolia [1].
MICROCAPITAL BRIEF: Triodos Investment Management of the Netherlands Sells Stake in Mongolian TenGer Financial Group to Orix, International Finance Corporation (IFC), Mongolyn Alt Group
Triodos Investment Management, a subsidiary of financial service provider Triodos Bank of the Netherlands, recently announced that it has sold the majority of its 13.5% equity stake in TenGer Financial Group, a Mongolia-based microfinance institution, through its Triodos-Doen and Triodos Fair Share Funds [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Issues $12.5m in Local Currency Loans to Armenia’s Agricultural Cooperative Bank of Armenia-Credit Agricole Bank (ACBA) to Support Micro-, Small and Medium-Sized Enterprises (MSMEs), Energy Efficient Investments
The UK-based European Bank for Reconstruction and Development (EBRD), a multilateral institution that finances development projects, has provided two local-currency loans totaling the equivalent of USD 12.5 million to Agricultural Cooperative Bank of Armenia-Credit Agricole Bank (ACBA), a microfinance bank partially owned by French bank Credit Agricole [1].
MICROCAPITAL BRIEF: responsAbility Investments Loans $20m to Improsa Bank of Costa Rica, Supports Small and Medium-Sized Enterprises (SMEs)
The Switzerland-based investment company responsAbility Investments recently notified MicroCapital that it has disbursed a loan of USD 20 million to Improsa Bank SA of Costa Rica, a financial institution that provides services to small and medium-sized enterprises (SMEs) [1].
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Lends $10m to Megabank of Ukraine to Support Agricultural Lending
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently issued a senior loan of USD 10 million to Megabank, a financial service provider in Ukraine, to increase its agricultural lending and strengthen its position in the market [1].
MICROCAPITAL BRIEF: Developpement International Desjardins (DID) Loans $1m to Microfinance Institution (MFI) Humo & Partners of Tajikistan
Developpement International Desjardins (DID), a nonprofit subsidiary of Canadian cooperative Desjardins Group, has provided a senior loan of USD 1 million to Humo & Partners, a Tajikistan-based microfinance institution, to expand its portfolio.