by Matthew Castner -

MICROCAPITAL BRIEF: responsAbility Mikrofinanz-Fonds and responsAbility Global Microfinance Fund Invest Total of $2m in Tanzanian Microfinance Bank PRIDE

responsAbility Mikrofinanz-Fonds and responsAbility Global Microfinance Fund have executed respective debt investments of USD 500,000 and USD 1.5 million in PRIDE (Promotion of Rural Initiative and Development Enterprises Limited), a Tanzanian microfinance institution. PRIDE was founded in 1994 and reports total assets of USD 36.8 million, a gross loan portfolio of USD 27.9 million and a return on assets of 1.93 percent. PRIDE has been primarily funded by Norad, the Norwegian Agency for Development Cooperation [1, 2]. Through a mix of loans and grants, Norad has committed USD 7.3 million to PRIDE. The organization uses a “modified Grameen” methodology where borrowers form groups to guarantee each group member’s loan. Loans range from TZS 50,000 (USD 36) to TZS 100 million (USD 72,706).

by Matthew Castner -

MICROCAPITAL BRIEF: responsAbility to Stop Issuing Shares for Global Microfinance Fund

Effective May 26, 2010, the responsAbility Global Microfinance Fund (rAGMF), which directly invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), will temporarily stop accepting investment. A statement released by responsAbility suggests high liquidity, resulting from steadily high net investment inflows and slowing demand for microfinance credit from MFIs driven by the global economic crisis, as the cause of the stoppage [1].

by Sally Levy -

MICROCAPITAL STORY: responsAbility Global Microfinance Fund (rAGMF) Makes Loans to Caritas del Peru, MiBanco of Peru, Proempresa of Peru and FIELCO of Paraguay in March 2009 totaling $10.5m

In March 2009, responsAbility Global Microfinance Fund (rAGMF) reported four loans to the Consultative Group to Assist the Poor (CGAP) Microfinance Dealbook, a monthly report on microfinance capital market transactions. responsAbility is a Switzerland-based asset management firm that connects social investors with microfinance institutions (MFIs). Three loans were made to Peruvian MFIs Caritas del Peru (USD 500,000), MiBanco (USD 7.5 million) and to Proempresa (USD 1 million (in local currency)). A Loan was also granted to FIELCO of Paraguay of USD 1.5 million. These loans were made through responsAbility’s Global Microfinance Fund (rAGMF) which invests either directly in MFIs or indirectly through microfinance investment vehicles.

by Laura Anderson -

MICROCAPITAL EVENT: Belgrade to Host Twelfth Annual MFC Conference of Microfinance Institutions Jointly Organized with Microfinance Development Fund Serbia, Co-Sponsored by responsAbility and Blue Orchard

12th MFC Conference of Microfinance Institutions – Global Crisis: Threat or Opportunity for Microfinance?

 MAY 25-27, 2009, The Continental Hotel, Belgrade, Serbia

by Yanni Hao -

MICROCAPITAL STORY: World Bank Sees Microfinance as Strong Asset Class in Midst of Financial Crisis According to the New York Times; A Target $600m Fund Managed by BlueOrchard, ResponsAbility, and Cyrano Management Will Be Launched to Support MFIs

The World Bank Group and the German government intend to launch a 600 million USD “Microfinance Enhancement Facility,” according to a report from the New York Times. The fund aims to support microfinance institutions in developing countries facing difficulties as a result of wholesale credit tightening stemming from the recent turmoil in global capital markets.

by Ryan Benson -

MICROCAPITAL STORY: Swiss responsAbility Lends $600k to Honduran COMIXMUL and Peruvian Frontera

CGAP (Consultative Group to Assist the Poor) recently reported that responsAbility Global Microfinance Fund (rAGMF) made two USD 300,000 loans to Latin American Cooperativa Mixta Mujeres Unidas Limitadas (COMIXMUL) and Frontera de San Ignacio.

by Ryan Benson -

MICROCAPITAL STORY: Swiss responsAbility Loans $6.4m to Eastern European and Central Asian Microfinance Institutions

CGAP (Consultative Group to Assist the Poor) recently reported that responsAbility Global Microfinance Fund (rAGMF) made loans to several Eastern European and Central Asian microlenders: USD 221,112 to Mikro Aldi, USD 400,000 to HUMO, USD 737,040 to AgroInvest, USD 1,000,000 to Kompanion, USD 1,000,000 to Constanta, USD 1,500,000 to Bai Tushum and USD 1,500,000 to Eskhata Bank.

by Sarah Knapp -

MICROCAPITAL STORY: responsAbility Mikrofinanz-Fonds Invests $2.7m in MicroInvest, AgroInvest, Prestanic and Fondesurco

In its Microfinance Capital Markets Update, CGAP (Consultative Group to Assist the Poor) reports that responsAbility Mikrofinanz-Fonds fund recently made investments totaling USD 2.7 million in four microfinance institutions (MFIs). In the Europe and Central Asia Region, Mikrofinanz-Fonds invested USD 300,000 in MicroInvest of Tajikistan and USD 1.5 million in AgroInvest of Serbia and Montenegro. In the Latin America and Caribbean Region, USD 500,000 was invested in Prestanic of Nicaragua and USD 400,000 in Peruvian MFI Fondesurco.

by Anthony Busch -

MICROCAPITAL STORY: responsAbility Global Microfinance Fund (rAGMF) of Luxembourg Lends a Total of $3.25m to the Foundation for International Community Assistance (FINCA) in Azerbaijan, Kyrgyzstan, and Georgia

The Consultative Group to Assist the Poor (CGAP) reports in its list of recent transactions that the responsAbility Global Microfinance Fund (rAGMF) financed USD 750,000 in loans to the Foundation for International Community Assistance Azerbaijan (FINCA Azerbaijan) on February 27, 2008, USD 1 million to FINCA MicroCredit Company (FMCC) of Kyrgyzstan on March 17, 2008, and USD 1.5 million to FINCA Georgia on March 19, 2008. The transaction to FINCA Azerbaijan is not to be confused with a separate responsAbility Microfinance Leaders Fund (rAMLF) loan taking place on the same date for the exact same amount, which was reported on by MicroCapital here.

by Anthony Busch -

MICROCAPITAL STORY: responsAbility Microfinance Leaders Fund (rAMLF) of Luxembourg Lends $500k to Thaneakea Phum (Cambodia) (TPC), $303k to Catalyst Microfinance Investors (CMI), $929k to ASP Financiera (ASP), and $750k to the Foundation for International Community Assistance Azerbaijan (FINCA Azerbaijan)

The Consultative Group to Assist the Poor (CGAP) reports in its list of recent transactions that the responsAbility Microfinance Leaders Fund (rAMLF) financed USD 500,000 in loans to Thaneakea Phum (Cambodia) (TPC) on February 6, 2008, USD 303,092 to Catalyst Microfinance Investors (CMI) on February 7, 2008, USD 929,000 to ASP Financiera (ASP) on February 20, 2008, and USD 750,000 to the Foundation for International Community Assistance Azerbaijan (FINCA Azerbaijan) on February 27, 2008.

by Sarah Knapp -

MICROCAPITAL STORY: responsAbility Global Microfinance Fund Invests $4.2m in EDPYME Confianza, EDPYME Alternativa, Hattha Kaksekar Ltd. and CREDIT

In its Microfinance Capital Markets Update, CGAP (Consultative Group to Assist the Poor) reports that responsAbility Global Microfinance Fund has recently made investments in microfinance institutions (MFIs) in Peru and Cambodia. Two Peruvian institutions EDPYME Confianza and EDPYME Alternativa received USD 1 million and USD 1.2 million respectively. Cambodian institutions Hattha Kaksekar Limited (HKL) and Cambodia Rural Economic Development Initiatives for Transformation (CREDIT) each received USD 1 million.

by Melissa Duscha -

MICROCAPITAL STORY: Luxembourg-based responsAbility Global Microfinance Fund Loans $3m to FINCA Kyrgyzstan

The Consultative Group to Assist the Poor (CGAP) recent list of transactions reported Luxembourg-based responsAbility Global Microfinance Fund invested USD 3 million in loans to the Foundation for International Community Assistance (FINCA) Kyrgyzstan this past January 18, 2008.