Microfinance institution (MFI) AccessBank of Azerbaijan, an affiliate of Access Microfinance Holding AG (AccessHolding), recently announced that it has disbursed its 500,000th loan [1].
Category: Eastern Europe and Central Asia
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: United Kingdom Loans $100m to Launch Private Sector Development Programme in Partnership with Small Industries Bank of India
The UK has launched a private sector development programme in India with a loan of GBP 65 million (USD 100 million) which will be implemented between 2012 and 2019 together with the Small Industries Development Bank of India (SIDBI).
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: Stymied by Local Regulation, Microfinance Institutions (MFIs) based in India’s Andhra Pradesh Expand Into Northern States
Following the enactment of the Regulation of Microlending Act in October 2010 by government of the Indian state of Andhra Pradesh (AP), which requires government approval of each microloan, microfinance institutions (MFIs) based in AP have began expanding into northern India.
MICROCAPITAL BRIEF: European Investment Fund (EIF) Releases Call for Expression of Interest
The European Investment Fund (EIF), a public-private partnership that supports financial institutions in Europe that serve small and medium-sized enterprises (SMEs), has released an expression of interest to select up to 30 European microcredit providers that will benefit from technical assistance under the Joint Action to Support Microfinance Institutions (JASMINE) initiative, which aims to develop the European microfinance market through the provision of non-financial support to European microcredit providers [1].
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: 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: Looking to Cut Out Middleman, Samrudhi Microfin Society (SMS) Launches Online Lending Portal, WeCareIndia.Org
Samrudhi Microfin Society, an Indian nonprofit microfinance institution (MFI), has launched WeCareIndia.Org, an online lending portal that allows investors to lend as little as INR 100 (USD 2) to Samrudhi borrowers.
MICROCAPITAL BRIEF: 34 Microfinance Institutions Now Operating Under Uzbekistan Microcredit Law
As of October, 34 microfinance institutions (MFIs) reportedly operate in Uzbekistan under the country’s law “On Microcredit Institutions” with microloans to individuals amounting to UZS 22.5 billion (USD 12.6 million) and microloans to organizations amounting to UZS 2.8 billion (USD 1.6 million).
MICROCAPITAL BRIEF: Microcredit Foundation Prizma of Bosnia and Herzegovina Borrows $680k in Local Currency from Privredna Banka Sarajevo dd
Microcredit Foundation Prizma, a microfinance institution located in Bosnia and Herzegovina, has reported to MicroCapital that it received a loan of BAM 1 million (USD 680,000) from Bosnian commercial bank Privredna Banka Sarajevo dd.
MICROCAPITAL BRIEF: European Fund for Southeast Europe Lends $13m to Intesa Sanpaolo Banka of Bosnia and Herzegovina
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, has reported to MicroCapital that it has made a loan equivalent to USD 13.4 million to Intesa Sanpaolo Banka, a commercial bank in Bosnia and Herzegovina.
MICROCAPITAL BRIEF: Fondazione Giordano Dell’Amore, European Microfinance Network Announce Giordano Dell’Amore Microfinance Good Practices Europe Award
Fondazione Giordano Dell’Amore, an Italian foundation, and the European Microfinance Network (EMN) have announced the fourth edition of the Giordano Dell’Amore Microfinance Good Practices Europe Award, which aims to increase the understanding of microfinance and promote the sharing of good practices among industry players in Europe.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $34m to Banca Intesa Beograd of Serbia for Micro-and Small Enterprises
The Luxembourg-registered European Fund for Southeast Europe (EFSE) recently reported to MicroCapital that it has signed an agreement to loan EUR 25 million (USD 34 million) to Banca Intesa Beograd, a Serbian commercial bank, to boost the availability of financing to micro– and small enterprises (MSEs), including rural entrepreneurs and small agriculture producers in Serbia.
MICROCAPITAL BRIEF: Microcredit Foundation Prizma of Bosnia and Herzegovina Borrows $2.7 m in Local Currency from Nova Banka, BOR Bank
Microcredit Foundation Prizma, a microfinance institution located in Bosnia and Herzegovina, has reported to MicroCapital that it received loans equivalent to USD 2.7 million in local currency from Nova Banka, a private Bosnian bank, and BOR Bank, also of Bosnia.
MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Lends $2m to Microfinance Institutions Hekima of Congo; Findev of Azerbaijan; Chamroeun, TPC of Cambodia
The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization founded by Crédit Agricole and Grameen Trust, has reported to MicroCapital that it made loans to four microfinance institutions (MFIs): Hekima of the Democratic Republic of the Congo, Finance for Development LLC (FinDev) of Azerbaijan, and Chamroeun and Thaneakea Phum (Cambodia) Limited (TPC) of Cambodia.