The Bangladeshi government reportedly has decided to place the Grameen Bank, a Bangladeshi microfinance institution (MFI), under the direct control of the Bangladesh Bank, the country’s central bank, allegedly in order to “better monitor” the microcredit organization [1].
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MICROCAPITAL BRIEF: African Development Bank (AfDB) Loans $17m to Société Nigérienne de Banque (Sonibank) of Niger to Support Private Sector
African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently approved a credit line in the amount of EUR 13 million (USD 17 million) to Société Nigérienne de Banque (Sonibank), a commercial bank in Niger.
MICROCAPITAL BRIEF: Bangladeshi Government Criticized for Proposal to Takeover or Split Grameen Bank
A working paper commissioned by the Bangladeshi government regarding Grameen Bank, a Bangladeshi microfinance institution founded by Nobel Laureate Dr Muhammad Yunus, proposes a government takeover of Grameen Bank or a split of the institution into 19 entities. The paper recommends that the Bangladeshi government own 51 percent of the shares of Grameen Bank, an increase from the current 25 percent.
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: UT Bank Ghana Receives $20m Credit Line from African Development Bank to Support Small, Medium-Sized Enterprises
The Board of Directors of the African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently approved a 3.5-year line of credit in the amount of USD 20 million to UT Bank Ghana Limited (UT Bank), a commercial bank based in Ghana with 26 branches in Ghana and an unavailable number of subsidiary branches in West Africa and Europe.
MICROCAPITAL BRIEF: Rockefeller, Tony Elumelu Foundations Launch “Impact Economy Innovations Fund” for Africa
The Rockefeller Foundation, a US-based organization, and the Tony Elumelu Foundation, a Nigeria-based organization, recently announced the launch of the Impact Economy Innovations Fund (IEIF), an impact investment fund operating across Africa.
MICROCAPITAL BRIEF: CGAP, Grameen Foundation, Mobile Telecommunications Network (MTN) Uganda to Finance $1m Mobile Finance Product Research and Development Initiative
CGAP (Consultative Group to Assist the Poor), a US-based nonprofit research and policy center, the Grameen Foundation, a US-based nonprofit that seeks to increase business opportunities and telecommunication services for poor people in rural areas, and Mobile Telecommunications Network (MTN) Uganda, the Ugandan arm of South African telecommunications company MTN Group, recently announced plans to launch an initiative to research and develop new mobile financial products.
MICROCAPITAL BRIEF: Indian Institute of Management at Ahmedabad (IIMA) Report Indicates Bandhan Clients Increased Wealth
The Indian Institute of Management, Ahmedabad (IIMA), a public business school located in the Indian state of Gujurat, recently released a report detailing the results of its impact study on Bandhan Financial Services Private Limited, an Indian microfinance institution.
MICROFINANCE EVENT: Results to Host International Conference on Poverty Issues and Advocacy, July 20-23, 2013, Washington DC, US
Event Name: Results International Conference
Event Date: July 20-23, 2013
Event Location: DoubleTree Hilton Hotel, Washington DC, US
MICROCAPITAL BRIEF: Norway’s Telenor Group Expresses Concern over Claim of Bangladeshi Government to Grameen Business
Telenor Group, a Norwegian mobile services provider, reportedly expressed concerns about the ongoing dispute over the ownership of social businesses historically linked with Grameen Bank, a Bangladeshi microfinance institution (MFI).
MICROFINANCE EVENT: Clinton Global Initiative University (CGI U) to Host 6th Annual Meeting, April 5-7, 2013, St. Louis, Missouri, US
Event Name: Clinton Global Initiative University (CGI U) 6th Annual Meeting
Event Date: April 5-7, 2013
Event Location: Washington University, St. Louis, Missouri, US
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC), US Agency for International Development (USAID) Commit $23m to Development Innovations Group (DIG) Housing Finance Facility in Haiti
The Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, recently signed an agreement to loan USD 17 million to the US-based for-profit organization Development Innovations Group (DIG) to establish a housing finance facility in Haiti.
MICROFINANCE PAPER WRAP-UP: “How Can Microfinance Programs Help the Struggle Against Social problems Such as Begging, Child Labor, Prostitution, Violence Against Women, Criminality, Gangs, and Drug Addiction?;” by William O. Maddocks; Commissioned by the Global Microcredit Summit
By William O. Maddocks; Commissioned by the Global Microcredit Summit; 2011; 31 pages; available at: http://www.globalmicrocreditsummit2011.org/userfiles/file/Workshop%20Papers/W_%20Maddocks%20-%20How%20Can%20Microfinance%20Programs%20Help%20the%20Struggle%20Against%20Social%20Problems%20Such.pdf
This paper presents an analysis of the role of microfinance institutions in helping to solve “seemingly intractable social problems” including begging, domestic violence, HIV/AIDS and discrimination against the disabled, all while maintaining financial sustainability.
MICROCAPITAL BRIEF: Confederation of Nepalese Industries to Establish $1m Social Business Fund
The Confederation of Nepalese Industries (CNI), a body of 50 large and medium-scale manufacturing and service sector businesses in Nepal, reportedly has promised to establish a USD 1 million social business fund over the next three years.
MICROCAPITAL BRIEF: Entrepreneurs Amit Patni, Arihant Patni Acquire Stake in Grameen Capital India
Grameen Capital India (GCI), an investor in microfinance institutions and other social enterprises, recently announced the acquisition of a 43 percent stake in the company by Indian technology entrepreneurs Amit and Arihant Patni.
MICROCAPITAL BRIEF: EBay, Grameen Foundations Partner to Launch Mobile Marketplace, Transaction Platform to Increase Financial Inclusion in Indonesia
The eBay Foundation, the charitable arm of US-based online marketplace eBay, and Grameen Foundation, a US-based nonprofit that aims to increase financial and technological opportunities for people in poor countries, have announced a partnership to design and launch two technology services intended to increase financial access in Indonesia.
MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Loans $1.2m to Viator of Azerbaijan, KOMIDA of Indonesia
The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a foundation providing financial services to microfinance institutions (MFIs), has agreed to provide two loans to MFIs Viator of Azerbaijan and Koperasi Mitra Dhuafa (KOMIDA) of Indonesia.
MICROCAPITAL BRIEF: Grameen Bank Ordinance Seen as Power Grab by Bangladeshi Government, Bank Refutes Claims by Prime Minister of 45% Microloan Interest Rates
The cabinet of ministers of Bangladesh has reportedly approved an amendment to the ordinance regulating Grameen Bank, a Bangladeshi microfinance institution (MFI), that allows the bank’s chairman, Mr Muzammel Huq, to nominate a pool of three candidates from which a managing director of the bank will be chosen.