MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), German’s Bank im Bistum Essen Co-finance $13m Loan for Russia’s Transcapitalbank

The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in the UK, recently announced that Bank im Bistum Essen, a German cooperative bank committed to socially responsible lending, has funded a 3-year USD 3 million B loan as part of a USD 13 million loan package for Russia’s Transcapitalbank (TCB).

MICROCAPITAL BRIEF: Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States’ “Financial Education Program” Reaches 100,000 Low-Income Households in Eastern Europe, Central Asia

The Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States, a regional network of 110 microfinance institutions (MFIs), announced its Financial Education Program (FEP) has reached 100,000 low-income households.

MICROCAPITAL BRIEF: Dual Return Fund of Vision Microfinance Loans $5m to Microfinance Institutions in Colombia, Kazakhstan, Russia, the Philippines

Absolute Portfolio Management GmbH, an Austrian investment company that specializes in microfinance, recently reported that the Dual Return Fund, a sub-fund of Absolute’s Vision Microfinance, made debt investments totaling USD 5 million in unnamed microfinance institutions (MFIs) in Colombia, Kazakhstan, Russia and Philippines [1].

MICROCAPITAL BRIEF: responsAbility Disburses $4m in Loans and Equity to Bai Tushum of Kyrgyz Republic; Arnur Credit, Bereke of Kazakhstan

responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it made investments totaling the equivalent of USD 4 million in Bai Tushum of the Kyrgyz Republic, Arnur Credit of Kazakhstan and Bereke of Kazakhstan.

MICROCAPITAL BRIEF: responsAbility Invests $4.3m in Microfinance Institutions Mikrofin Banja Luka of Bosnia and Herzegovina; the Agency for Finance in Kosovo (AFK); Credo and Crystal, Both of Georgia

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 totalling USD 4.36 million in microfinance institutions (MFIs) Mikrofin Banja Luka of Bosnia and Herzegovina, the Agency for Finance in Kosovo (AFK), Credo of Georgia and Crystal, also of Georgia.

MICROCAPITAL BRIEF: MICROFIS Obtains Approval as “Listing Sponsor” from NYSE Alternext Stock Exchange, Announces Partnership with Microfinance Rating Agency MicroRate

MICROFIS, a France-based market platform for investors in “responsible finance”, recently obtained accreditation as a “listing sponsor” from NYSE Alternext, a stock exchange operated by NYSE Euronext that connects investors with small and medium-sized enterprises (SMEs) [1].

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $14m to Banca Intesa Beograd of Serbia for On-Lending to Small and Medium-Sized Enterprises (SMEs)

The European Bank for Reconstruction and Development (EBRD), a development finance institution based in the United Kingdom, has agreed to loan EUR 10 million (USD 14 million) to Banca Intesa Beograd, a Serbian commercial bank, to facilitate on-lending to small and medium-sized enterprises (SMEs) in the country.

MICROCAPITAL BRIEF: Wall Street Journal Article Highlights Foreign-Exchange Risks for Microfinance Institutions, Hedging Solutions Offered By The Currency Exchange Fund (TCX)

The Wall Street Journal, a US-based newspaper, recently commented on the potential of illiquid currencies and volatile monetary policy to have a negative impact on the loan portfolios of microfinance institutions (MFIs) in developing countries.

MICROFINANCE EVENT: National Partnership of Microfinance Market Stakeholders (NAMMS), Russian Microfinance Center (RMC) to Host Tenth Anniversary National Conference on Microfinance, Moscow, Russia, November 16 – November 18, 2011

Event Name: Tenth Anniversary National Conference on Microfinance – “New Decade, New Challenges: Regulation as a Driver of Development”

Event Date: November 16, 2011 to November 18, 2011

Event Location: Moscow, Russia

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to Microfinance Institution AccessBank Tajikistan

The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, has agreed to make a four-year, local-currency loan of TJS 29 million (USD 6 million) to AccessBank Tajikistan, a bank that specializes in financial services for micro- and small enterprises (MSEs).

MICROCAPITAL BRIEF: responsAbility Loans $8m to Kompanion of Kyrgyz Republic, Eskhata of Tajikistan, XacBank of Mongolia

responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it made debt investments totaling USD 8 million through MIVs it manages in the following institutions: USD 3 million to Kompanion Financial Group Microfinance Closed Joint Stock Company, an MFI in Kyrgyzstan; USD 2 million to Eskhata Bank, an institution in Tajikistan that lends to micro- and small businesses; and USD 3 million to XacBank, a community development MFI in Mongolia.

MICROCAPITAL BRIEF: Dual Return Fund of Vision Microfinance Loans $3m to Microfinance Institutions in Mongolia, Georgia, Azerbaijan, Kyrgyzstan, Ecuador

Absolute Portfolio Management GmbH, an Austrian investment company that specializes in microfinance, recently reported that its Dual Return Fund, a sub-fund of Vision Microfinance, made debt investments totaling USD 3 million in unnamed microfinance institutions (MFIs) in Mongolia, Georgia, Azerbaijan, Kyrgyzstan and Ecuador.

MICROCAPITAL BRIEF: responsAbility Loans $27m to Microfinance Institution Prizma of Bosnia and Herzegovina; Russia’s Forus Bank, NBD Bank, FINCA Russia

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 worth the equivalent of USD 27.4 million in NBD Bank, a commercial bank in Russia, and three microfinance institutions (MFIs): Microcredit Foundation Prizma of Bosnia and Herzegovina; FINCA Russia; and Forus Bank, also of Russia.

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to Microfinance Institution (MFI) Bai Tushum of Kyrgyz Republic

The European Bank for Reconstruction and Development (EBRD), a development finance institution, has agreed to make a three-year, local-currency loan of KGS 270 million (USD 6 million) to Bai Tushum and Partners, a non-banking microfinance institution (MFI) operating in the Kyrgyz Republic.

MICROCAPITAL BRIEF: Kyrgyz Microfinance Institutions “Successfully Compete” with Banking Sector in Providing Access to Finance

President of Kyrgyzstan, Roza Otunbayeva, reportedly said at the recent Central Asian Microfinance Fair that microfinance institutions (MFIs) in Kyrgyzstan are emulating the banking sector in providing loans in the country.

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Commits $42m to UniCredit to Boost SMEs in Russia

The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in the UK, recently announced that it will lend RUB 2.0 billion

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $3m in Local Currency Somoni to Microfinance Provider Imon International 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 3 million in the local currency, somoni, to Imon International LLC, a microfinance provider in Tajikistan [1]. The loan marks the expansion of EBRD’s Local Currency Lending Programme in Early Transition Countries (ETC) to Tajikistan for the first time. The ETC Initiative aims to stimulate economic activity in the countries served by EBRD that are deemed to face the most significant economic challenges. With this 4-year loan, EBRD aims to allow the Tajik borrowers, including small enterprises, microfinance institutions and small banks, avoid taking on exchange-rate risks, which can force borrowers to repay much more than expected if exchange-rates change significantly.

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $49m to Support Micro-, Small and Medium-Sized Enterprises (MSMEs) Through Raiffeisen Banka Serbia, ProCredit Bank Macedonia, Mikrofin Banja Luka of Bosnia and Herzegovina

The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, recently reported to MicroCapital that it has made debt investments worth a total of EUR 34 million (USD 49.7 million) in three banks that support micro-, small and medium-sized enterprises (MSMEs): Raiffeisen Banka Serbia, ProCredit Bank Macedonia and Mikrofin Banja Luka of Bosnia and Herzegovina.