Kenya Women’s Finance Trust (KWFT), a Kenyan microfinance institution (MFI) that was established in 1982, recently announced that it has received equity investments totaling KES 1.37 billion (USD 16 million) from three funds: a total of KES 692 million (USD 8 million) from the Norwegian Microfinance Initiative (NMI) Frontier Fund and NMI Fund III, with the remaining KES 692 million (USD 8 million) placed by the Rural Impulse Fund II (RIF II), which is managed by Belgian microfinance fund manager Incofin Investment Management (Incofin IM).
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MICROFINANCE EVENT: DC Microfinance Meetup to Host “Fireside Chat with Ben Powell, Founder and CEO, Agora Partnerships,” April 7, 2014, Washington, DC, USA
Event Name: Fireside Chat with Ben Powell, Founder and CEO, Agora Partnerships
Event Date: April 7, 2014
Event Location: 1776 Startup Incubator, Washington, DC, USA
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC), Citi to Share Risk on $550m Global Loan Facility, $220m Inclusive Growth Agreement
The Overseas Private Investment Corporation (OPIC), a development agency of the US government, reportedly has entered agreements with Citi, a US-based financial services corporation, to share credit risk for the financing of investments in an unspecified number of the 150 OPIC-eligible countries with a USD 550 million loan facility for general investments and a USD 220 million loan facility to support financial inclusion.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Capitalization Fund Invests $170m in Banco CorpBanca Colombia
The International Finance Corporation (IFC) Capitalization Fund, an investment fund managed by an arm of the World Bank Group’s IFC, has announced a USD 170 million subordinated bond investment in Banco CorpBanca Colombia (CBC), a subsidiary of CorpBanca, a Chile-based commercial bank that is a subsidiary of Brazil’s Itau Unibanco.
MICROCAPITAL BRIEF: European Bank For Reconstruction and Development (EBRD) Brings “Small Business Support” Facility to Jordan, Delivering Technical Assistance to Small, Medium-Sized Firms
The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution headquartered in the UK, has brought its Small Business Support (SBS) facility for small and medium-sized enterprises (SMEs) to Jordan.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $4m to Grooming Centre in Effort to Reach 780k Nigerian Microenterprises
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it has committed to loan NGN 650 million (USD 4 million) to Grooming Centre, a Nigerian microfinance institution (MFI), to assist in expanding its reach to a total of 780,000 existing small businesses by 2018, including by expanding its coverage in rural areas of the country.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $20m to Attawfiq Micro-Finance for Microlending in Morocco
The International Finance Corporation (IFC), a US-based development finance institution and a member of the US-based World Bank Group, recently loaned USD 20 million to Attawfiq Micro-Finance, a nonprofit microfinance institution (MFI) based in Casablanca, Morocco, for onlending to microenterprises in an effort to further Morocco’s economic development.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Lends $14m to Societe Generale Banka Montenegro to Support On-Lending for Housing
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is lending EUR 10 million (USD 13.5 million) to Societe Generale Banka Montenegro, a subsidiary of French banking group Societe Generale, for on-lending to individual borrowers to finance long-term residential mortgages in Montenegro.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $14m to Rosbank Leasing (RBL) of Russia for On-lending to Small and Medium-Sized Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a 5-year senior loan of RUB 500 million (USD 14.4 million) to Rosbank Leasing (RBL), the leasing subsidiary of Rosbank, a Russia-based commercial bank.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $64.8m to Banque Tuniso-Kowetienne of Tunisia for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs), Trade Financing
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a loan of EUR 40 million (USD 54.8 million) to Banque Tuniso-Kowetienne (BTK), a Tunisia-based commercial bank.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $34.3m to European Fund for Southeast Europe (EFSE) for On-lending to 4k Micro- and Small Enterprises (MSEs) via Retail Lenders
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a loan of EUR 25 million (USD 34.3 million) to the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV) that was initiated by German development bank Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW) with the financial support of the German development ministry Bundesministerium für Wirtschaftliche Zusammenarbeit und Entwicklung (BMZ) and the European Commission.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $150m to Yes Bank of India for On-lending to Women-Owned Micro-, Small, Medium-Sized Enterprises (MSMEs)
The International Finance Corporation (IFC), a multilateral development bank and member of the US-based World Bank Group, plans to loan USD 150 million to Yes Bank, a commercial bank based in the Indian city of Mumbai.
MICROCAPITAL BRIEF: ResponsAbility of Switzerland Loans $20m to Microfinance Institution Financiera Confianza of Peru
ResponsAbility Investments, a Swiss investor in microfinance and other sectors, recently loaned USD 20 million to Financiera Confianza, a Peruvian NGO microfinance institution (MFI). Further information on the transaction is not available.
MICROCAPITAL BRIEF: Urwego Opportunity Bank of Rwanda Receives $514k from Development Bank of Austria, “Partnership for Financial Inclusion” of International Finance Corporation (IFC), MasterCard Foundation
The Urwego Opportunity Bank (UOB), a microfinance institution (MFI) in Rwanda, will receive a donation of USD 514,000 from the International Finance Corporation (IFC), a member of the US-based World Bank Group, and the Oesterreichische Entwicklungsbank AG (OeEB), Austria’s development bank, to support the provision of financial services – including mobile services – particularly to women and small-scale enterprises [1].
MICROCAPITAL BRIEF: Absolute Portfolio Management’s Dual Return Funds Loan $19m to Microfinance Institutions in Armenia, Bosnia and Herzegovina, Cambodia, Costa Rica, Ecuador, Georgia, India, Kazakhstan, Mongolia
Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently informed MicroCapital that it issued loans equivalent to approximately USD 19 million during November 2013 through the Dual Return Funds it manages to microfinance institutions in Armenia, Bosnia and Herzegovina, Cambodia, Costa Rica, Ecuador, Georgia, India, Kazakhstan and Mongolia [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Issues $165m in Bonds to Support Women-owned Businesses
The International Finance Corporation (IFC), of the World Bank Group, reportedly has issued USD 165 million in five-year, AAA-rated bonds to support women-owned businesses in emerging markets [1].
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) to Loan $20m to Bank Republic of Georgia to Support Lending to Micro-, Small Enterprises (MSEs)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based, EU-backed microfinance investment vehicle (MIV), recently agreed to grant a senior loan facility of USD 20 million to Bank Republic, a Georgian member of the France-based financial group Société Générale [1].
MICROCAPITAL BRIEF: Absolute Portfolio Management (APM) Issues $12.5m in Credits from Dual Return Funds to Microfinance Institutions in Asia, Latin America
Absolute Portfolio Management (APM), an Austria-based asset management company that offers investment and advisory services to microfinance institutions (MFIs), recently issued approximately USD 12.5 million in credit to unspecified MFIs in Armenia, Azerbaijan, Bolivia, Cambodia, Costa Rica, Ecuador, Nicaragua and Tajikistan.