BlueOrchard Finance SA, a Swiss microfinance investment manager; Belgian Investment Company for Developing Countries (BIO), a public-private partnership established by the Belgian government; and Opportunity International, a US-based nonprofit organization, all recently announced new CEOs.
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MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) to Place Equity Investment, Grant in Microfinance Institution ACME of Haiti
The Multilateral Investment Fund, an autonomous fund administered by the US-based Inter-American Development Bank, has approved an equity investment of an undisclosed amount in Haitian microfinance institution (MFI) Association pour la Cooperation avec la Micro Enterprise (ACME).
MICROCAPITAL BRIEF: Mongolia: International Finance Corporation (IFC) Capitalization Fund Invests $40m in Microfinance Institution XacBank
The International Finance Corporation (IFC) Capitalization Fund, a fund managed by the private-investment arm of the World Bank Group, recently announced it will invest a total of USD 40 million in XacBank, a Mongolian community development microfinance institution (MFI) [1].
MICROCAPITAL BRIEF: Amid Concerns of a Bubble In Kyrgyzstan, 94 Microfinance Institutions Are Shut Down, 31% of Borrowers Owe Multiple Loans
According to a quote attributed to Fatima Eshimbekova of the World Bank Group’s International Finance Corporation (IFC), MFIs in Kyrgyzstan have doubled their aggregate loan portfolio since 2010.
MICROCAPITAL BRIEF: Microinsurance Reaches 3m in the Philippines, More Expansion Predicted in Microcredit as Commercial Banks Enter Microfinance
According to a report attributed to the Insurance Commission of the Philippines, a government body regulating the country’s insurance industry, the microinsurance program launched in 2010 has contributed to 3.1 million Filipinos having acquired insurance coverage.
MICROCAPITAL BRIEF: United Bank Limited, Rural Impulse Fund II, ResponsAbility Global Microfinance Fund, Shorecap II, ASN-Novib Acquire 67% of Pakistani Microfinance Institution Khushhali
A consortium led by United Bank Limited (UBL), a Pakistani commercial bank with total assets of PKR 747 billion (USD 8.2 billion) as of December 2010 [2], reportedly has been selected as the highest bidder for 67.4 percent of the shares of Pakistani microfinance institution Khushhali Bank Limited, whose gross loan portfolio stood at USD 43.5 million as of December 31, 2010 [1].
MICROCAPITAL BRIEF: Azerbaijan Microfinance Association Mulling Agricultural Credit Guarantee Fund
The Azerbaijan Microfinance Association, an organization with approximately 31 microfinance institution members, is considering the introduction of an agricultural guarantee fund, which would guarantee up to 80 percent of an entrepreneur’s loan.
MICROCAPITAL BRIEF: Triple Jump Disburses Loan From Oxfam Novib Fund to Microfinance Institution Finadev Benin
Triple Jump Fund Management (Triple Jump), a Dutch investor in microfinance, recently issued its first loan to Finadev Benin SA, a microfinance institution (MFI) in Benin.
MICROCAPITAL BRIEF: Rural Impulse Fund II, MicroVest II, ASN-Novib Fund Purchase 45% Stake In Arnur Credit Microfinance Institution of Kazakhstan
Rural Impulse Fund II, a Belgian microfinance investment vehicle managed by Incofin Investment Management; MicroVest II, a US-based equity fund managed by MicroVest Capital Management, and ASN-Novib fund, a Dutch microfinance investment vehicle managed by Triple Jump, have taken stakes totaling 45 – percent ownership in Arnur Credit, a microfinance institution (MFI) based in Kazakhstan.
MICROCAPITAL BRIEF: FMO of the Netherlands to Loan $10m to Microfinance Institution Vision Banco of Paraguay for On-Lending to Micro- and Small Enterprises
The Netherlands Development Finance Company (FMO in Dutch), a public-private partnership, has signed an agreement to loan the equivalent of USD 10 million to Vision Banco, a microfinance institution (MFI) in Paraguay [1].
MICROCAPITAL BRIEF: European Investment Fund (EIF) Releases Call for Expression of Interest
The European Investment Fund (EIF), a public-private partnership that supports financial institutions in Europe that serve small and medium-sized enterprises (SMEs), has released an expression of interest to select up to 30 European microcredit providers that will benefit from technical assistance under the Joint Action to Support Microfinance Institutions (JASMINE) initiative, which aims to develop the European microfinance market through the provision of non-financial support to European microcredit providers [1].
MICROCAPITAL BRIEF: Ghanaian Microfinance Institution Sinapi Aba Trust Provides Vocational Training to Youth
To complement its microfinance activities, Ghanaian microfinance institution (MFI) Sinapi Aba Trust (SAT) has set up a program to provide youth between the ages of 16 and 23 with vocational skills.
MICROFINANCE PAPER WRAP-UP: Microfinance Investment Vehicles in Sub-Saharan Africa: Constraints and Potentials, by Bertrand Moulin, Published by Centre for European Research in Microfinance (CERMi)
By Bertrand Moulin, published by the Centre for European Research in Microfinance (CERMi), August 2011, 20 pages, available at: http://mpra.ub.uni-muenchen.de/32967/
MICROCAPITAL BRIEF: responsAbility Loans Local-Currency Equivalent of $4m to Microfinance Institutions Pearl Microfinance Limited of Uganda, Lift Above Poverty Organisation of Nigeria, Sinapi Aba Trust of Ghana
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totaling the equivalent of USD 4 million in microfinance institutions (MFIs) Pearl Microfinance of Uganda, Lift Above Poverty Organisation (LAPO) of Nigeria and Sinapi Aba Trust of Ghana [1].
MICROCAPITAL BRIEF: Bank of Ghana Issues New Licensing Regime to Regulate Microfinance Industry
In an attempt to improve regulation of microfinance institutions (MFIs) in the country, the Bank of Ghana (BoG), the central bank of Ghana, recently issued new operating rules and guidelines under the Non-bank Financial Institutions Act 2008. Among those being regulated are ‘susu’ companies, which are named after a traditional, informal means to save and borrow.
MICROCAPITAL BRIEF: responsAbility Invests $2.5m in Microfinance Institution Asian Credit Fund of Kazakhstan, Bank Eskhata of Tajikistan, XacLeasing of Mongolia
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totaling the equivalent of USD 2.5 million in microfinance institutions Asian Credit Fund LLP of Kazakhstan, Bank Eskhata (Eskhata) of Tajikistan and XacLeasing, a sister company of Mongolian microfinance institution XacBank [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Co-financing $10m in Loans from Mongolian Microfinance Institution XacBank
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in the UK, recently announced it has committed USD 5 million to co-finance up to 50 percent of loans issued by XacBank, a Mongolian community development microfinance institution (MFI).
MICROCAPITAL BRIEF: ImpactAssets Includes 22 Microfinance-Focused Fund Managers in List of Top 50 Impact Investors
ImpactAssets, a US-based nonprofit company specializing in impact investment, recently released its “2011 ImpactAssets 50,” a list of investment fund managers that “achieve financial performance with positive social and environmental impacts,” including 22 microfinance-focused funds.