MICROCAPITAL BRIEF: Applications Open for 2014 Seed Awards for Entrepreneurs in Sustainable Development Until April 8

The Seed Initiative, a Germany-based nonprofit institution that supports small-scale social and environmental enterprises in emerging economies, recently announced that it is accepting applications for the “2014 Seed Awards for Entrepreneurs in Sustainable Development,” a set of annual awards presented to entrepreneurs in developing countries that Seed deems to be the “…most promising, innovative and locally led…[and that have the] potential to contribute significantly to sustainable development…”.

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.

MICROFINANCE EVENT: Clarion to Host “Mobile Money and Digital Payments Asia 2014,” January 21-23, 2014, Jakarta, Indonesia

Event Name: Mobile Money and Digital Payments Asia 2014

Event Date: January 21 – January 23, 2014

Event Location: Ritz Carlton Hotel, Jakarta, Indonesia

MICROCAPITAL BRIEF: US Agency for International Development (USAID), NetHope Announce 3 Grants Totaling $42k to Support Electronic, Mobile Payments

The United States Agency for International Development (USAID), a government agency that provides international economic and humanitarian assistance, and NetHope, a consortium of 41 international humanitarian organizations, recently announced three grants totaling USD 42,000 that aim to support development organizations in testing electronic payments and performing cost-benefit analyses of cash versus electronic payment systems.

MICROCAPITAL BRIEF: World Council of Credit Unions Publishes Islamic Operations Manual for Shariah-compliant Credit Unions

The World Council of Credit Unions (WOCCU), a US-based association of credit union trade groups in 54 countries, recently published the “Islamic Finance Manual: Operating Policies and Procedures,” a guide that is intended to assist bankers with establishing Shariah-compliant credit unions in developing countries. The Shariah, which is alternatively referred to as “Islamic law,” prohibits interest payments and fees, so Islamic banking is centered instead on the concept of joint venture and profit sharing. The manual was developed by the Customer Owned Banking Association (COBA), an Australia-based member organization of WOCCU, based on COBA’s experience establishing Islamic investment and finance cooperatives in Afghanistan since 2004.

MICROCAPITAL BRIEF: Absolute Portfolio Management’s Dual Return Funds Invest $9.5m in Microfinance Institutions (MFIs) of Eight European, Asian, Latin American Countries

In June 2013, Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, issued loans totaling the equivalent of USD 9.5 million to microfinance institutions (MFIs) in Azerbaijan, Bosnia & Herzegovina, Cambodia, Colombia, Ecuador, Georgia, Kyrgyzstan and Poland though its two Vision Microfinance funds, Dual Return Fund- Vision Microfinance and Dual Return Fund- Vision Microfinance Local Currency Fund.

MICROCAPITAL BRIEF: Caja Rural de Ahorro y Credito (CRAC) Nuestra Gente of Peru Now Controlled by Fundacion Microfinannzas BBVA, to be Merged into Financiera Confianza

The Peruvian Superintendency of Banking, Insurance and Pension Fund Administrators (known as SBS in Spanish) recently approved the merger of two Peruvian microfinance institutions (MFIs) via the absorption of Caja Rural de Ahorro y Credito (CRAC) Nuestra Gente by Financiera Confianza.

MICROCAPITAL BRIEF: Opportunity International, MicroEnsure Launch Savings-Linked Education Insurance Program, EduSave, in Malawi

Opportunity International, a US-based development nonprofit, and its subsidiary MicroEnsure, a UK-based nonprofit microinsurance intermediary, have announced the launch in Malawi of a savings-linked education insurance product called EduSave. 

MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $9m from Dual Return Funds to Microfinance Institutions (MFIs) in Armenia, Benin, Cambodia, Georgia, Mongolia, Paraguay, Peru and Tajikistan

Absolute Portfolio Management (APM), an Austria-based microfinance investment and asset management company, recently told MicroCapital that it issued the equivalent of USD 9 million during March 2013 through two of the funds it manages to microfinance institutions (MFIs) in Armenia, Benin, Cambodia, Georgia, Mongolia, Paraguay, Peru and Tajikistan.

MICROFINANCE PAPER WRAP-UP: “Pathways Towards Greater Impact: Better Microinsurance Models, Products and Processes for MFIs;” by Craig Churchill, Aparna Dalal and Josh Ling; published by International Labour Organization, Microinsurance Innovation Facility

By Craig Churchill, Aparna Dalal and Josh Ling; published by International Labour Organization, Microinsurance Innovation Facility; 2013; 8 pages; available at: http://www.ilo.org/public/english/employment/mifacility/download/brnote15_en.pdf

This paper examines the challenges faced by microfinance institutions (MFIs) that provide microinsurance products to low-income individuals and businesses.

MICROCAPITAL BRIEF: Bridge Launches with $24m from Accion, Bamboo Finance, DEG, FMO, Paul Kocourek to Support Rural, Thrift Banks in the Philippines

Bridge, a financial services company that plans to provide “capability building services and capital” to rural and thrift banks that focus on low-income populations and micro- and small businesses in the Philippines, recently announced its launch with equity investments totaling USD 24 million from Accion, a US-based nonprofit organization; Bamboo Finance, a Luxembourg-based commercial investment firm; Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution; the Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Dutch public-private development bank; and Mr Paul Kocourek, Bridge’s co-founder and chairman.

MICROCAPITAL BRIEF: World Council of Credit Unions’ (WOCCU’s) Young Credit Union People Scholarship Nominations Due June 3, 2012

The World Council of Credit Unions (WOCCU), a US-based association of credit union trade groups active in 54 countries, recently announced that nominations for the organization’s World Council’s Young Credit Union People program are due on June 3, 2013.

MICROCAPITAL BRIEF: One Woman Initiative, Opportunity International Partner to Raise $50m for Microloans to Women

The One Woman Initiative (OWI), a US-based organization that focuses on empowering women, has come under the umbrella of Opportunity International, a US-based nonprofit organization with a focus on microfinance.

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $5m to La Nacional of the Dominican Republic for Housing, Small and Medium-Sized Enterprise (SME) Lending

The International Finance Corporation (IFC), a member of the World Bank Group, reportedly has disbursed a loan of DOP 195 million (USD 4.8 million) to Asociacion La Nacional de Ahorros y Préstamos, a microfinance institution in the Dominican Republic, to increase its mortgage lending for housing and loan financing for small and medium-sized enterprises.