Aavishkaar Goodwell, an Indian-Dutch joint venture that invests in development projects, reportedly has invested an additional INR 360 million (USD 6 million) in Electronic Payment Services (EPS), an India-based company that provides electronic payment systems to merchants in Asia.
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MICROCAPITAL BRIEF: Aavishkaar Goodwell, Asia Pragati Invest $3.4m in Swarna Pragati Housing Microfinance in India
Aavishkaar Goodwell, an Indian-Dutch joint venture that invests in development projects, and Asia Pragati, an India-based non-banking financial company (NBFC) owned by Hong Kong-based Pacific Alliance Group (PAG), reportedly have invested a total of INR 210 million (USD 3.4 million) in Swarna Pragati Housing Microfinance, an Indian microfinance institution (MFI) that partners with local MFIs to provide housing loans in the country [1].
MICROCAPITAL BRIEF: European Investment Bank (EIB) to Loan $12b by 2020 to African, Caribbean, Pacific Countries for Infrastructure, Private Business, Regional Developments
The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently announced that it will loan a total of EUR 9 billion (USD 12 billion) by 2020 to institutions in Africa, Caribbean and Pacific (ACP) regions through its ACP Investment Facility, a revolving and risk-bearing fund for private sector investment.
MICROCAPITAL BRIEF: Pasha Bank Underwrites Inaugural Bond Issue of $12.7m to FINCA Azerbaijan to Support Micro and Small Businesses, Entrepreneurs
Pasha Bank, an Azerbaijan-based financial services provider, recently underwrote a three-year inaugural bond issue of AZN 10 million (USD 12.7 million) to the Azerbaijan-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network.
MICROCAPITAL BRIEF: Fairtrade Access Fund Loans $1.8m to Coffee, Cacao, Sugar Cooperatives COAGRICSAL of Honduras, UCOSEMUN of Nicaragua, NORANDINO of Peru
The Fairtrade Access Fund (FAF), an affiliate of German NGO Fairtrade International that provides loans to farmers in developing countries, recently disbursed a total equivalent to USD 1.8 million to Cooperativa Agrícola Cafetalera San Antonio Limitada (COAGRISCAL) of Honduras, Unión de Cooperativas de Servicios Múltiples (UCOSEMUN) of Nicaragua and Cooperativas de Servicios Múltiples Norandino (NORANDINO) of Peru.
MICROCAPITAL BRIEF: Creation Investments Social Ventures Fund II Completes Closing with $75m, Disburses Equity Investments in Grupo Finclusion of Mexico; Sonata, Grameen Koota of India
Creation Investments Social Ventures Fund II, a US-based private equity fund managed by Creation Investments Capital Management, has completed final closing with USD 75 million in committed capital.
MICROFINANCE PUBLICATON ROUND-UP: Drivers of Over-Indebtedness in Cambodia, Accelerating Impact Investing, Mobile Banking in Tanzania
“Study on the Drivers of Over-Indebtedness of Microfinance Borrowers in Cambodia: An In-depth Investigation of Saturated Areas;” by Dannet Liv; published by BlueOrchard Microfinance Investment Management, Incofin Investment Management, Oikocredit; March 2013; 83 pages; available at: http://www.blueorchard.com/jahia/webdav/site/blueorchard/shared/Publications%20and%20Resources/News%20%26%20Press%20releases/OID-Final%20Report.pdf
This report presents an analysis of the factors that drive microfinance borrowers in Cambodia to take on excessive levels of debt.
MICROCAPITAL BRIEF: Swiss Investment Company responsAbility Increases Debt Exposure to Bai Tushum & Partners of the Kyrgyz Republic to $11m
Switzerland’s responsAbility Social Investments has increased its debt exposure to Bai Tushum & Partners, a microfinance institution (MFI) in the Kyrgyz Republic, from USD 6 million to USD 11 million.
MICROCAPITAL BRIEF: Agence Francaise de Developpement (AFD) to Guarantee Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans, Largely in Sub-Saharan Africa
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based nonprofit that provides financial services to microfinance institutions, recently signed a risk and technical assistance agreement with the Agence Francaise de Developpement (AFD), a bi-lateral development finance institution of the French government, to further GCAMF’s microfinance efforts, particularly in Sub-Saharan Africa.
MICROCAPITAL BRIEF: Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER) of Nicaragua Plans $3m Public Bond Issue
Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER), a nonprofit Nicaraguan microlender, plans to launch a public bond issue in April 2013.
MICROCAPITAL BRIEF: Mongolia’s Khan Bank Launches Drive-through ATMs, Increases Number of Correspondent Banks
Khan Bank, a Mongolian provider of microfinance and other services, recently installed three drive-through automated teller machines in the city of Ulaanbaatar.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) Donates $360k to Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER) of Nicaragua to Support Transition to Regulated Status Under SIBOIF
The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, recently disbursed a grant of USD 362,000 to Nicaraguan nonprofit microfinance organization Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER) to support the microlender in the process of becoming regulated by the country’s Superintendency of Banks and Other Financial Institutions, which is known by the Spanish acronym SIBOIF.
MICROCAPITAL BRIEF: Belgian Investment Company for Developing Countries (BIO) to Loan $1.5m to Centro de Investigación y Desarrollo Regional (CIDRE) of Bolivia
Belgian Investment Company for Developing Countries (BIO), a state-owned development finance institution, recently extended a USD 1.5 million loan to Centro de Investigación y Desarrollo Regional (CIDRE), a Bolivian non-governmental organization (NGO).
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $989k to WAGES of Togo, $445k to Azeri Star of Azerbaijan, $153k to Berendina Microfinance of Sri Lanka
Grameen Credit Agricole Microfinance Foundation (GCAMF), an organization that provides funding and financial services to microfinance institutions (MFIs) and social business projects, recently issued an AZN 350,000 (USD 445,000) loan to Azeri Star, an Azerbaijani MFI.
SPECIAL REPORT: Responsible Microfinance Implementation Action Group Looks to Boost Usage of Existing Tools, Distributes Template of Covenants for Investors to Attach to Loans to Microbanks
At the European Microfinance Week conference today in Luxembourg, representatives of the European Microfinance Platform (e-MFP) Action Group on the Implementation of Responsible Microfinance led a discussion on its work. The group presented graphics compiling existing social performance tools such as social audits and the publication of pricing data via the US-based nonprofit Microfinance Transparency. One of the suggested steps for microbanks embarking on the process of evaluating its social performance is to make a public commitment through an effort such as the Smart Campaign, which is backed by US-based nonprofit Accion, or the Global Appeal for Responsible Microfinance, which is promoted by a set of institutions led by Oxus Group, an initiative of French NGO Agency for Technical Cooperation and Development (ACTED).
MICROCAPITAL BRIEF: Grameen Koota of India Looks to Expand into Housing Microfinance
Grameen Koota, a India-based microfinance division of Grameen Financial Services Private Limited (GFSPL), plans to expand into housing microfinance in areas of rural India that have limited microfinance institution (MFI) penetration.
MICROCAPITAL BRIEF: Microfinance Institution Bai Tushum and Partners of Kyrgyz Republic to Transform to Bank Status
Bai Tushum and Partners, a microfinance institution (MFI) based in the Kyrgyz Republic, reportedly has received permission from the National Bank of the Kyrgyz Republic, the central bank of the country, to become a bank.
MICROCAPITAL BRIEF: Belgian Investment Company for Developing Countries (BIO) Disburses Grant to Banco Solidario of Ecuador for Financial Education, Complimenting $8m Loan
The Belgian Investment Company for Developing Countries (BIO), a public-private partnership established by the Belgian government, recently disbursed a technical assistance grant of an undisclosed amount to Banco Solidario, an Ecuadorian microfinance institution (MFI).