Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), recently received an equity infusion totalling INR 270 million (USD 4.5 million) from three investors: INR 150 million (USD 2.5 million) from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and INR 62 million (USD 1 million) each from Aavishkaar Goodwell, a for-profit Indian-Dutch joint venture promoting economic development, and Lok Capital, a Mauritius-based venture fund focused on microfinance and other social businesses in India [1] [2].
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MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Assist Central Bank of Morocco with Credit Information Sharing Regulations
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently announced that it will assist the Central Bank of Morocco (CBM), also known as Bank Al-Maghrib, with the development of laws and regulations regarding credit information sharing among lenders.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $25m in Proyectos Educativos Integrales del Peru to Establish Educational Institutions for Low-Income Students
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced a USD 25 million investment in Proyectos Educativos Integrales del Peru (PEIP), an education company, to create a university and a network of technical institutes to educate low-income students in Peru.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Increases Syndicated Loan to National Development Bank of Sri Lanka from $125m to $200m for On-Lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has increased the size of the syndicated loan that it provided in March 2014 to the National Development Bank (NDB), a financial services company owned by the government of Sri Lanka, from USD 125 million to USD 200 million.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Partners with Chadian Ministry of Planning and International Cooperation to Establish Foundation for Leasing Services in Chad
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently signed a cooperation agreement with the Chadian Ministry of Planning and International Cooperation, the governmental body charged with organizing and implementing development projects in the country, to support the development of leasing options for small and medium-sized enterprises (SMEs) in Chad.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits $15m to Private Equity Fund EuroMena III to Support Small, Medium-sized Enterprises (SMEs) in Middle East, North Africa
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly has committed USD 15 million to EuroMena III, a 7-year closed-end private equity fund that aims to invest in small and medium-sized enterprises (SMEs) in Egypt, Lebanon and Jordan.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $47m to Garanti Bank Romania to Support Small, Medium-Sized Enterprises (SMEs), Mostly Those Owned by Women
MICROCAPITAL BRIEF: International Finance Corporation (IFC), MasterCard Foundation, Tigo to Expand Mobile Financial Services in Ghana
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group; the MasterCard Foundation, a Canadian nonprofit founded by US-based global payment processing company MasterCard that aims to promote youth learning and financial inclusion in emerging markets; and Tigo Ghana, a unit of Luxembourg-based telecommunication firm Millicom International Cellular, recently announced that they have signed an agreement worth USD 2 million to provide advisory services to support Tigo Ghana “to develop and expand mobile financial services in support of wider financial inclusion”[1] in Ghana.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $18m to Microfinance Institution Financiera Confianza of Peru to Support Low-Income Entrepreneurs
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that it is loaning USD 18 million to Financiera Confianza, a Peruvian microfinance institution (MFI) that offers microloans and deposit services to low-income entrepreneurs [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Signs Deals with AB Bank Rwanda, IHS Holding of Nigeria, Urwego Opportunity Bank of Rwanda to Expand Microfinance, Telecommunications
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly has signed deals with AB Bank Rwanda (ABR), a microfinance bank (MFB) affiliated with Access Microfinance Holding of Germany; IHS Holding Limited, a mobile services infrastructure company based in Nigeria that operates in five African countries; and Urwego Opportunity Bank (UOB), a foreign-owned Rwandan MFB, in an effort to increase access to telecommunications and financial opportunities in Rwanda.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Colombian Federation of Chambers of Commerce, Superintendence of Corporations to Facilitate Lending Based on Movable Collateral
The International Financial Corporation (IFC), the private investment arm of the World Bank Group, has partnered with the Superintendence of Corporations of Colombia, a government agency that regulates corporations, and Confecamaras, the Colombian Federation of Chambers of Commerce, to launch a lending framework that is intended to facilitate financial access for micro-, small and medium-sized enterprises (MSMEs) in the country [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $4.8m in Fondo Para el Desarrollo (FONDESA) to Support Financial Inclusion in Dominican Republic
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has disbursed a three-year, DOP 200 million (USD 4.8 million) loan to Fondo Para el Desarrollo Incorporated (FONDESA), a nonprofit microfinance institution in the Dominican Republic.
MICROCAPITAL BRIEF: Dingyi Venture Capital of China Grants $3m to International Finance Corporation (IFC) to Fund Assessment of Financial Services Available to Microenterprises in Rural China, Other Initiatives
Dingyi Venture Capital of China has awarded a grant of USD 3 million to the International Finance Corporation (IFC), the private investment arm of the World Bank Group, to fund various initiatives in rural China including an assessment of existing financial services available to microenterprises.
MICROCAPITAL BRIEF: Cooperative Rural Development Bank (CRDB) of Tanzania, International Finance Corporation (IFC) Sign $75m Agreement to Support Small, Medium-Sized Businesses Including Those Owned by Women, Involved in Agriculture
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the Cooperative Rural Development Bank (CRDB), a commercial bank in Tanzania, recently signed an agreement worth USD 75 million to support financing to small businesses in the country, particularly agribusinesses and companies owned by women.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), IFC Capitalization Fund Invest $15m in Subordinated Debt in Nicaragua-based Banco de Finanzas (BDF)
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, recently announced a USD 15 million subordinated bond investment in Banco de Finanzas, a Nicaragua-based commercial bank that is a wholly-owned subsidiary of Panama-based bank holding company Grupo Banco de Finanzas.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Mongolia Seek to Improve Secured-Transaction Payment System
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, has recently partnered with Mongolia’s Ministry of Justice to augment Mongolia’s regulatory system for secured-transaction payments, transactions between lenders and borrowers that are predicated on borrowers’ collateral.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits Support Worth $300k to Back Newly Licensed AB Bank Rwanda, 8th Member of Access Microfinance Holding
The International Finance Corporation (IFC), the private investment arm of the World Bank Group, has announced a deal worth USD 300,000 to support AB Bank Rwanda Limited, which was licensed in December 2013 to operate as a microfinance bank (MFB)[1][2].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $29m to Center-Invest Bank (CIB) of Russia for On-lending to Small, Medium-sized Enterprises (SMEs) in Southern Russia
The International Finance Corporation (IFC), the private investment arm of the World Bank Group, has loaned RUB 900 million (USD 29 million) to Center-Invest Bank (CIB), a Russian commercial bank, for on-lending to small and medium-sized enterprises (SMEs) in southern Russia.