The Sanad Fund for MSME (micro-, small and medium-sized enterprise), an initiative of the German development bank Kreditanstalt für Wiederaufbau Entwicklungsbank that provides debt and equity to financial institutions in the Middle East and North Africa (MENA), announced that it has agreed to loan USD 20 million to Bank Audi, a private bank headquartered in Beirut, Lebanon, to support small and medium-sized enterprises (SMEs) in MENA.
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MICROCAPITAL BRIEF: Silatech Sponsors Financial Literacy Training Course Expected to Benefit 1,000 Credit Officers in Sudan
Silatech, a Qatar-based social enterprise that aims to increase employment and entrepreneurship among youth in the Middle East and North Africa, recently delivered a three-day Financial Literacy Training of Trainers course to 20 instructors from the Sudan Academy for Banking and Financial Sciences (SABFS), a Sudanese technical university.
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: Silatech of Qatar, Kiva of USA Launch Kiva Arab Youth Website to Raise Funds for Microlending
Kiva, a US-based online microlending fundraiser, has partnered with Silatech, a Qatar-based social enterprise serving youth in the Middle East, to create Kiva Arab Youth, an online platform allowing individuals to makes loans to microfinance institutions (MFIs) in the region that then on-lend the funds to aid young Arab entrepreneurs.
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $1.5m to FINCA Jordan to Boost Microfinance Services
The Sanad Fund for MSME (Micro-, Small a Medium-Sized Enterprise), an initiative of KfW Entwicklungsbank that provides medium- and long-term debt and equity to financial institutions in the Middle East, recently made a local-currency loan equivalent to USD 1.5 million to FINCA Jordan Specialized Microloans, a Jordanian microfinance institution (MFI) that is part of the US-based FINCA International microfinance network.
MICROCAPITAL BRIEF: BlueOrchard Finance Appointed Fund Manager of Microfinance Initiative for Asia (MIFA) Debt Fund
BlueOrchard Finance SA, a Switzerland-based microfinance intermediary, recently was appointed Fund Manager for the Microfinance Initiative for Asia (MIFA) Debt Fund.
MICROCAPITAL BRIEF: Sanabel Launches “Shafafeya” Transparency Program for Arab Microfinance Institutions
Sanabel, an Egypt-based nonprofit organization dedicated to advancing Arab microfinance, recently launched a transparency program called “Shafafeya” that produces comparative analysis, trend analysis and financial highlights of the microfinance sector in the Arab world.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Data Bureau Limited Launch Tongan Credit Bureau
The International Finance Corporation (IFC), a member of the World Bank Group that supports private-sector development, and Data Bureau Limited, a Fijian-owned credit information company, recently set up a credit bureau in Tonga.
MICROCAPITAL BRIEF: “SANAD Fund for MSME” Loans $3m to Middle East Micro-Credit Company of Jordan
SANAD Fund for MSME, a Luxembourg-based investment fund, has invested in Jordan for the first time, with a synthetic local currency loan equivalent to USD 3 million disbursed to Middle East Micro-Credit Company (MEMCC), a microfinance institution (MFI).
MICROCAPITAL BRIEF: Silatech, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Partner with Al-Amal Microfinance Bank, Alkuraimi Islamic Microfinance Bank to Provide Microsavings for Youth in Yemen
Silatech, a Qatar-based social enterprise, and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ), the development agency of the German government, have partnered with Al-Amal Microfinance Bank (AMB) and Alkuraimi Islamic Microfinance Bank (AIMB), both of Yemen, to extend financial access to Yemeni youth through a microsavings program.
MICROCAPITAL BRIEF: Qatar’s Silatech, Al Barid Bank Launch Youth Savings Account
Silatech, a Qatar-based social enterprise, has partnered with Al Barid Bank, a subsidiary of Post Morocco, to launch a Youth Savings Account (YSA), which is available to Moroccans between the ages of 18 and 25.
MICROCAPITAL BRIEF: HSBC to Provide Technical Assistance to Microfinance Institutions in Middle East, North Africa in Partnership with Grameen-Jameel, Bankers without Borders
UK-based financial services company HSBC (formerly known as the Hongkong and Shanghai Banking Corporation), Dubai-based microfinance investor Grameen-Jameel and Bankers without Borders (BwB), a program of the US-based Grameen Foundation, are partnering to provide financial and technical expertise to microfinance institutions (MFIs) in the Middle East and North Africa.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Swiss Government Sponsor Workshops for Small and Medium-sized Enterprises in Egypt
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, is sponsoring a series of workshops for small and medium-sized enterprises (SMEs) in Egypt “on how to implement sound corporate governance standards to improve their performance, increase access to finance and foster sustained growth.”
MICROCAPITAL BRIEF: Grameen-Jameel Loans $1.5m to Jordan Micro Credit Company (Tamweelcom)
Grameen-Jameel Microfinance Limited, a joint venture of the US-based Grameen Foundation and the UK-based Abdul Latif Jameel Foundation, reportedly has provided a loan of USD 1.5 million to the Jordan Micro Credit Company (Tamweelcom), a Jordan-based microfinance institution (MFI).
MICROCAPITAL BRIEF: “SANAD Fund for MSME” to Loan $5m to BLC Bank of Lebanon for On-Lending to Small and Medium-Sized Enterprises
SANAD Fund for MSME, a Luxembourg-based investment fund, has invested in Lebanon for the first time with a USD 5 million loan to BLC Bank sal, a Lebanese commercial bank.
MICROCAPITAL BRIEF: Grameen-Jameel Achieves 1.5m Microfinance Clients Reached, $53m Facilitated
Grameen-Jameel, a joint venture of the US-based Grameen Foundation and the UK-based Abdul Latif Jameel Foundation, recently announced in its first “partners’ meeting” that it has reached 1.5 million clients through its partner microfinance institutions (MFIs) [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Works With African Development Bank, Islamic Development Bank to Plan Expansion to Support Emerging Arab Democracies
In a recent statement, the European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, announced that it has signed memorandums of understanding (MoUs) with the African Development Bank (AfDB), a multilateral financial institution based in Tunisia, and the Islamic Development Bank, a development finance institution based in Saudi Arabia, to outline how the institutions would cooperate in the Southern and Eastern Mediterranean region as EBRD extends its operation in the region to support the emerging Arab democracies [1].
MICROCAPITAL BRIEF: Ahmed El Bardai of Egyptian Microfinance Institution Reefy Predicts Boom in Lending to Small and Medium-Sized Enterprises to Boost National Economy
Mr Ahmed El Bardai, founder and chief executive of the Egyptian for-profit microfinance institution (MFI) Reefy, expects the country’s next government to focus on small and medium-sized enterprises (SMEs) to boost the economy that is facing a huge budget deficit and declining gross domestic product [1].