The nonprofit AlHuda Center for Islamic Banking and Economics (CIBE) has signed an agreement with VisionFund AzerCredit, a non-bank financial institution in Azerbaijan and subsidiary of US-based NGO VisionFund International, to conduct market research in urban areas of Azerbaijan regarding the demand for Islamic microfinance.
Category: Eastern Europe and Central Asia
MICROCAPITAL BRIEF: New Microfinance Regulation in Kazakhstan Caps Interest Rates at 56%, Seeks to Increase Transparency, Foreign Investment
A new law in Kazakhstan reportedly will tighten regulations and enhance transparency in the microfinance sector.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $1.35m to LandesLease of Albania to Support Small and Medium-sized Enteprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, has provided a five-year loan of EUR 1 million (USD 1.35 million) Albanian leasing company LandesLease.
MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation (GCAMF) Loans $666k to FinDev of Azerbaijan, $320k to Phoenix+ of Tajikistan
Grameen Crédit Agricole Microfinance Foundation (GCAMF), an organization that offers financial services to microfinance institutions (MFIs) and social business projects in Africa and Eurasia, recently approved a three-year loan to Azerbaijani MFI FinDev in local currency equivalent to USD 666,000.
MICROCAPITAL BRIEF: International Finance Corporation Loans $7m to Georgia’s Kor Standard Bank for Small and Medium-sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan USD 7 million to Kor Standard Bank (KSB), a financial institution in the republic of Georgia, to increase funding for small and medium-sized enterprises.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to IMON International of Tajikistan
The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, has provided a four-year loan of TJS 29 million (USD 6.08 million) to Tajik microfinance institution (MFI) IMON International.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $4.9m to Banka Respublika of Azerbaijan, $3.2m to ProCredit Bank Bosnia and Herzegovina
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg, recently made a loan of USD 4.9 million to Banka Respublika Open Joint Stock Company, a private Azerbaijani bank.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $17m to Banca Transilvania, Agricover Credit of Romania
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle based in Luxembourg, recently disbursed approximately EUR 13 million (USD 17 million) to two Romanian financial institutions.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $32m to Garanti Leasing of Turkey to Boost Services to Micro, Small and Medium-Sized Enterprises
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg, recently disbursed a EUR 25 million (USD 32.6 million) loan to Garanti Leasing, a subsidiary of Turkey’s Garanti Bank that provides real-estate and equipment leasing services, to aid it in serving more micro, small and medium-sized enterprises (SMEs) particularly in rural areas.
MICROCAPITAL BRIEF: International Finance Corporation Loans $15m to AccessBank to Aid Small Enterprises, Microentrepreneurs in Azerbaijan
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently loaned USD 15 million to AccessBank, a microfinance bank in Azerbaijan, to supplement lending to micro-small and medium sized-enterprises in the country.
MICROCAPITAL BRIEF: EBRD Loans $56m to Ohridska Banka of Macedonia, Banca Intesa Beograd of Serbia for SMEs
The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, recently announced plans to disburse financing facilities worth a total of EUR 13 million (USD 17.1 million) to Ohridska Banka, a Macedonian subsidiary of French bank Societe General that focuses on financing small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $13.2m to BT Leasing Transilvania of Romania
The European Bank for Reconstruction and Development (EBRD), a London-based development finance institution, recently loaned EUR 10 million (USD 13.2 million) to BT Leasing Transilvania, a subsidiary of Banca Transilvania (BT), a privately-owned Romanian bank.
MICROCAPITAL BRIEF: Kazakhstani Government Looking to Triple Microloan Volume by Boosting Microcredit Portfolio to $80m
At a recent meeting in Astana, Kazakhstan, the Minister of Labor and Social Protection of Population, Serik Abdenov, reportedly stated that his government aims to grow the cumulative microloan portfolio in the country to KZT 12 billion (USD 79.7 million) or more enabling the amount of microcredit loans to increase by three and a half times within the next year.
MICROFINANCE EVENT: Cracking the Nut: Sustainable Sourcing for Agricultural Supply Chains Conference, June 25 – June 26, 2013, Dresden, Germany
Event Name: Cracking the Nut Conference 2013
Event Date: June 25 – June 26, 2013
Event Location: Dresden, Germany
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $10m to AccessBank Azerbaijan
AccessBank, a microfinance institution (MFI) based in Azerbaijan, recently received a USD 10 million loan from European Fund for Southeast Europe (EFSE), a Luxembourg-based organization focused on economic development in southeastern Europe and parts of Central Asia, to expand its loan portfolio.
MICROCAPITAL BRIEF: Centre d’Appui a la Microfinance et au Developpement (CAMIDE), Appui au Développement Autonome (ADA), Banque d’Escompte (BdE) Launch Service Offering Money Transfers from France to Mali
Centre d’Appui a la Microfinance et au Developpement (CAMIDE), a Malian nonprofit organisation that supports microfinance and other development initiatives, recently partnered with Appui au Développement Autonome (ADA), a Luxembourg-based nonprofit organisation that supports MFI capacity building, and Banque d’Escompte (BdE), an entity of the Wormser Frères Bank in France, to launch a new service offering money transfers from France to Mali.
MICROCAPITAL BRIEF: Access Bank of Azerbaijan Raises $10m from Symbiotics ‘MSME’ Bonds Impact Investing Platform
Symbiotics Investment Group, a Swiss for-profit microfinance investment intermediary, recently raised USD 10 million in loan funds for Access Bank, a microfinance bank in Azerbaijan, through Micro, Small & Medium Enterprise Bonds SA (MSME Bonds), an investing issuance platform founded by Symbiotics.
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $989k to WAGES of Togo, $445k to Azeri Star of Azerbaijan, $153k to Berendina Microfinance of Sri Lanka
Grameen Credit Agricole Microfinance Foundation (GCAMF), an organization that provides funding and financial services to microfinance institutions (MFIs) and social business projects, recently issued an AZN 350,000 (USD 445,000) loan to Azeri Star, an Azerbaijani MFI.