The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, is considering offering a senior, unsecured loan of approximately EUR 15 million (USD 21 million) to Tunisian leasing company Compagnie Internationale de Leasing (CIL) to expand its servicing of micro-, small and medium-sized enterprises (MSMEs) in Tunisia.
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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), European Union, Republic of Turkey Provide $469m For Female Entrepreneurs in Turkey
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, in partnership with the European Union and the Republic of Turkey, is launching a “Women in Business Programme” in 2014 to provide financial and technical support services totaling EUR 338 million (USD 469 million) for female entrepreneurs in Turkey.
MICROCAPITAL BRIEF: Silatech, PlaNet Finance to Support Youth Entrepreneurship in Egypt, Lebanon, Palestine
Silatech, a Qatar-based social enterprise that serves young people in the Middle East and North Africa, has signed on to support the Youth Entrepreneurship Project (YEP), an initiative founded by French non-governmental organization (NGO) PlaNet Finance and funded by the European Union that seeks to empower young people by supporting three microfinance institutions (MFIs): Alexandria Businessmen’s Association of Egypt, Lebanese Association for Development (Al Majmoua) and Palestine’s Arab Center for Agricultural Development (ACAD).
MICROCAPITAL BRIEF: Arab Gulf Program for Development (AGFUND) Partners with Philippines Chamber of Commerce and Industry (PCCI) to Bring Ibdaa Microfinance Bank to Eighth Country
The Arab Gulf Program for Development (AGFUND), a Saudi Arabia-based development organization, and the Philippines Chamber of Commerce and Industry (PCCI), a policy- and advocacy-oriented group that represents approximately 35,000 businesses in the Philippines, have signed an agreement to create an iteration of the “Ibdaa Microfinance Bank” (IMB) that is intended to increase financial inclusion of poor people and micro-, small and medium-sized enterprises (MSMEs) in the Philippines [1][2].
MICROCAPITAL BRIEF: Switzerland’s State Secretariat for Economic Affairs (SECO) Commits $9m to Sanad Fund to Support Micro-, Small and Medium-Enterprises (MSMEs) in the Middle East and North Africa (MENA)
The State Secretariat for Economic Affairs, a Swiss government agency that works in developing countries and is known by the acronym SECO, reportedly has invested EUR 5.5 million (USD 7.4 million) in the Sanad Fund for Micro-, Small and Medium-Enterprise (MSME), a Luxembourg-based entity that funds financial institutions in the Middle East and North Africa (MENA).
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $500k to Reef Finance in Palestinian Territories for On-Lending to Rural Clients
The Sanad Fund for Micro-, Small and Medium-Enterprise (MSME), a Luxembourg-based investment company that funds financial institutions in the Middle East and North Africa, has agreed to issue a senior loan facility worth USD 500,000 to Reef Finance, a nonprofit microfinance institution (MFI) that operates in the Palestinian Territories of West Bank and Gaza.
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: European Bank for Reconstruction and Development (EBRD) Loans $68m to Garanti Leasing of Turkey to Support On-lending to Micro-, Small, Medium-sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has opened a credit line of EUR 50 million (USD 68.3 million) for Garanti Leasing (GL), a leasing company subsidiary of Turkey’s Garanti Bank (GB), to be on-lent to micro-, small and medium-sized enterprises (MSMEs) in the country.
MICROCAPITAL BRIEF: Shell Foundation, GroFin to Provide $100m in Risk Capital, Business Support to Small, Medium-Sized Enterprises in Middle East, Africa
The Shell Foundation, a social investment initiative of Netherlands-based petroleum firm Royal Dutch Shell Private Limited Company, reportedly has partnered with GroFin, a South African small and medium-sized enterprise (SME) financier, to launch a program to provide USD 100 million in risk capital and unspecified business support to SMEs in the Middle East and Africa.
MICROCAPITAL BRIEF: eServGlobal, Zain Group Bring Collaborative Mobile Money Service to Africa and the Middle East
eServGlobal, a France-based provider of mobile financial services to emerging markets, recently announced that it has entered a three-year framework agreement with Zain Group, a mobile telecommunications provider that operates in eight markets across Africa and the Middle East, in order to provide eServGlobal’s mobile money solution services to Zain Group’s customers.
MICROCAPITAL BRIEF: Middle East and North Africa (MENA) Transition Fund Grants $11m to Moroccan Youth Microentrepreneurship Projects
The Middle East and North Africa (MENA) Transition Fund, a financial intermediary fund established by the US-based World Bank in 2012 that provides grants to help countries implement social reforms, has sponsored a total of USD 11 million in grants for two projects that will aim to assist approximately 5,000 Moroccan youths with starting their own businesses and micro-enterprises [1].
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $6m to Enda Inter-Arabe of Tunisia for Young Entrepreneurs, Micro, Small, Medium-sized Enterprises in Rural Areas
The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative that invests in financial institutions in the Middle East and North Africa, recently loaned the local-currency equivalent of USD 6 million to Enda Inter-Arabe (Enda), a financial services provider and Tunisia-based arm of non-governmental organization Enda Third-World, to support Enda’s expansion into poor rural areas of Tunisia; increase product offerings to young entrepreneurs; provide financial services to micro, small and medium-sized enterprises; and promote the empowerment of women. The loan is Sanad’s first debt investment in the country [1].
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: Silatech, Macroinvest, Jaida, Afif, ANAPEC, IYF, Ministry of Tourism to Support Moroccan Small and Medium-Sized Enterprises (SMEs), Youth
Silatech, a Qatar-based social enterprise that seeks to promote youth entrepreneurship and employment in Arab countries, recently announced seven new partnerships in an effort to support small and medium-sized enterprises (SMEs) and youth in Morocco.
MICROCAPITAL BRIEF: Sanad Fund for MSME to Loan $2m to Al Majmoua of Lebanon for Microenterprises
The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative that invests in financial institutions in the Middle East and North Africa, recently agreed to grant a senior loan facility of USD 2 million to Al Majmoua, a Lebanese nongovernmental organization (NGO) that lends to microenterprises.