MICROCAPITAL BRIEF: Grameen Crédit Agricole, Grameen-Jameel Pan-Arab Microfinance Guarantee $6m National Société Générale Bank Loan to The Lead Foundation Egypt

Grameen Crédit Agricole Microfinance Foundation, a wholesale lender and loan guarantor to microfinance institutions (MFIs), and Grameen-Jameel Pan-Arab Microfinance Limited, an MFI funder, have co-guaranteed an EGP 33 million (USD 5.74 million) three-year loan from the National Société Générale Bank Egypt to The Lead Foundation (Lead), an Egyptian microfinance NGO.

MICROCAPITAL BRIEF: Asian Development Bank (ADB), Australia Launch “Microfinance Expansion Project” in Papua New Guinea

The Asian Development Bank (ADB) and the government of Australia recently launched the “Microfinance Expansion Project” in Papua New Guinea in a bid to increase financial access.

MICROCAPITAL EVENT: Mitigating Cost of Access to Finance for Micro and Small Enterprises in Southern Africa, September 29 – 30, 2010, University of Pretoria, South Africa

Event Name: Mitigating Cost of Access to Finance for Micro and Small Enterprises in South Africa

Event Date: September 29 – September 30, 2010

MICROCAPITAL BRIEF: Small Enterprise Education and Promotion (SEEP) Network Adds Updates and New Standards to Its “Microfinance Reporting Standards Initiative”

The Small Enterprise Education and Promotion (SEEP) Network, a US-based non-governmental organization (NGO) with the goal of connecting microenterprise practitioners, has recently announced that it will be adding updates and new standards to its “Microfinance Reporting Standards Initiative,” a voluntary compliance effort to bring together stakeholders on reporting standards for MFIs. The “Microfinance Reporting Standards Initiative” is an update to SEEP Network’s 2005 financial performance publication entitled “Measuring Performance of Microfinance Institutions: A Framework for Reporting, Analysis, and Monitoring” (SEEP FRAMEWORK).

MICROFINANCE EVENT: Red Centroamericana de Microfinanzas (REDCAMIF) Hosts the Fifth Central American Microfinance Conference in San Jose, Costa Rica, August 25 to August 27, 2010

Event Name: V Central American Microfinance Conference ‘Crisis: Lessons Learned and New Strategies’

MICROCAPITAL BRIEF: PesaPot and RedCloud Partner to Bring Mobile Technology Platform to Microfinance Institutions (MFIs) in Kenya

PesaPot – a technology company headquartered in Nairobi, Kenya – has announced a partnership with RedCloud – a technology platform that offers access to financial services over the internet – to provide mobile technology to the microfinance sector in Kenya. The alliance will provide microfinance institutions (MFIs) with technology that is intended to both improve the efficiency of their operations as well as reduce costs.

MICROCAPITAL BRIEF: United Nations Environment Programme (UNEP) Invests $1.8m in Solar Panels in Nepal, to be Distributed via Microloans Disbursed by Ace Development Bank, Provider of Microfinance and Traditional Banking Services

The United Nations Environment Programme (UNEP), a division of the United Nations (UN) focused on protecting natural resources, will invest USD 1.8 million to increase the use of solar power in Nepal through its Sustainable Energy Finance Initiative (SEFI). The funds will be distributed via microloans disbursed by Ace Development Bank, a financial services provider in Nepal established in 1995.

MICROCAPITAL BRIEF: Clinton Bush Haiti Fund (CBHF) Announces $1m in New Grants to Promote Economic Opportunities Including Microfinance

The Clinton Bush Haiti Fund (CBHF), a nonprofit organization created by former US presidents Bill Clinton and George W. Bush to rebuild Haiti following the January 12 earthquake, has announced USD 1 million in new grants aimed at creating new jobs and promoting economic opportunity, including microfinance. An unspecified proportion of the grant will be used to finance the Haiti Emergency Liquidity Program (HELP), which will give recovery grants to “key” microfinance institutions (MFIs), which are defined as those having approximately 50,000 clients or more.

MICROCAPITAL BRIEF: Societe Generale de Banques du Senegal (SGBS) and Obopay Launch Yoban’tel, a Mobile Money Transfer and Bill Payment Service, in Senegal

The Societe Generale de Banques du Senegal (SGBS), a private commercial bank with CFA 400 billion (USD 743 million) in total assets, and Obopay, a US-based mobile payment service established in 2005, have united to launch Yoban’tel, a mobile money transfer and bill payment service, in Senegal. The system will allow the use of any mobile phone to transfer money or pay bills using SMS (short message service, also known as text messaging).

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Partners with eTranzact to Launch Rural Telephony Project (RTP) MobileMoney in Nigeria

The International Finance Corporation (IFC), a member of the World Bank Group, has partnered with eTranzact, an online payment system based in Nigeria, to launch Rural Telephony Project (RTP) MobileMoney. The goal of the program is to reach rural people in Nigeria – who often lack access to banking services – through the use of mobile phones.

MICROCAPITAL BRIEF: Vodafone Launches M-PAiSA Mobile Money Transfer Service in Fiji

Vodafone, a British multinational mobile network operator, has launched M-PAiSA Mobile Money Transfer service in Fiji. Initially M-PAiSA will act mainly as a vehicle for loan disbursements and repayments from microfinance institutions (MFIs), with customers being able to receive loans and make payments using their mobile phones.

MICROCAPITAL BRIEF: Draft Law Proposing a Register of and Legal Framework for Microfinance Institutions (MFIs) Brought to Russian State Duma

The Russian Government has submitted a draft law to the State Duma, the Russian parliament’s lower chamber, entitled “On Microfinance Activity and Microfinance Institutions (MFIs)”, which aims to create a register of MFIs as well as establish a legal framework for those companies offering microfinance services.

MICROCAPITAL BRIEF: Australia Supports Microfinance with $1.8m Pledge to the Pacific Financial Inclusion Program (PFIP)

The Australian government has agreed to provide AUD 2 million (the equivalent of USD 1.8 million) over the next three years to the Pacific Financial Inclusion Program (PFIP), a program established with the intent of increasing access to financial services among low-income households in the Pacific Islands.

MICROCAPITAL BRIEF: Liquidity Crunch Forces Nepalese Microfinance Institutions (MFIs) to Increase Lending Rates

According to a recent article in the Kathmandu Post, Nepalese microfinance institutions (MFIs) that used to borrow from commercial banks at a four percent interest rate now have to borrow at seven percent—a 75 percent increase—due to the liquidity crunch.

MICROFINANCE PAPER WRAP UP – CGAP Due Diligence Guidelines For The Review Of Microcredit Loan Portfolios, by Robert Peck Christen and Mark Flaming

Written by Robert Peck Christen and Mark Flaming of CGAP (Consultative Group to Assist the Poor), published by the World Bank Group in December 2009, 58 pages, available at: http://www.cgap.org/gm/document-1.9.36521/DueDiligence_TechGuide_ENG.pdf

The purpose of this paper is to provide a method of acquiring an understanding of the underlying quality of the loan portfolio of an microfinance institution (MFI) for banking regulators, donor agencies, and potential investors.

MICROCAPITAL BRIEF: Batey Relief Alliance (BRA) Starts Microcredit Schemes for “Women’s Empowerment Program” in Haiti and Dominican Republic

The Batey Relief Alliance (BRA), a humanitarian aid organization, plans to launch agricultural and human capital development programs in rural regions of Haiti and the Dominican Republic.