The International Finance Corporation (IFC), a member of the US-based World Bank, and the government of Canada have partnered to loan USD 85 million to Dewan Housing Finance Corporation of India, a for-profit housing finance company, to finance “green” mortgages under the joint IFC-Canada Climate Change Program.
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MICROCAPITAL BRIEF: Triodos Investment Management of the Netherlands Sells Stake in Mongolian TenGer Financial Group to Orix, International Finance Corporation (IFC), Mongolyn Alt Group
Triodos Investment Management, a subsidiary of financial service provider Triodos Bank of the Netherlands, recently announced that it has sold the majority of its 13.5% equity stake in TenGer Financial Group, a Mongolia-based microfinance institution, through its Triodos-Doen and Triodos Fair Share Funds [1].
MICROCAPITAL BRIEF: Gates Foundation, International Finance Corporation (IFC), MicroSave, United Nations Development Program (UNDP) Partner to Create Helix Institute of Digital Finance
The Bill and Melinda Gates Foundation, a US-based nonprofit that provides grants to organizations; the International Finance Corporation (IFC), a member of the US-based World Bank; MicroSave, an India-based for-profit consulting center; and the United Nations Development Program (UNDP), the global development network of the United Nations, have partnered to create the Helix Institute of Digital Finance, an online platform that will train mobile network operators, financial institutions and third-party providers in an effort to increase the efficiency and impact of their digital and financial services [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Makes $3m Equity Investment in Bina Usaha Keluarga (BUK) of Indonesia, Seeking to Triple Female Clients of Microfinance Institution Mitra Bisnis Keluarga Ventura (MBK)
Bina Usaha Keluarga (BUK), the Indonesia-based controlling shareholder of Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) in the same country, recently received an equity infusion of IDR 34.3 billion (USD 3 million) from the International Finance Corporation (IFC), a US-based international financial institution and a member of the US-based World Bank Group, to triple the number of female clients of MBK.
MICROCAPITAL BRIEF: Sekerbank Borrows $146m from European Fund for Southeast Europe (EFSE), European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) to Fund Agricultural, Women-owned Businesses in Turkey
Sekerbank, a Turkish private bank, has borrowed EUR 59.5 million (USD 82 million) from the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution; EUR 36.3 million (USD 50 million) from the International Finance Corporation, a member of the US-based World Bank Group; and EUR 10 million (USD 13.7 million) from the European Fund for Southeast Europe (EFSE), a Luxembourg-based, EU-backed microfinance investment vehicle [1] [2].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Lends $500k to Microfinance Institution Tuba Rai Metin (TRM) of Timor-Leste
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently loaned USD 500,000 to Tuba Rai Metin (TRM), a microfinance institution that serves women and small businesses in Timor-Leste.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest Up To $28m in Trustco of Namibia for Higher Education, Insurance in Africa
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced plans to make an investment of ZAR 300 million (USD 28.8 million) in Trustco Group Holdings, a Namibia-based company specializing in microcredit and microinsurance, to increase the number of student loans in Namibia and expand microinsurance into unspecified countries in Sub-Saharan Africa [1].
MICROCAPITAL BRIEF: FMO, International Finance Corporation (IFC), KfW Entwicklungsbank Invest $5.4m in AccessBank Rwanda
The Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that aims to promote growth in the economies of developing countries; the International Finance Corporation (IFC), a member of the World Bank Group that offers assistance to private companies with the goal of alleviating poverty in developing countries; and Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a state-owned German development bank, have invested RWF 3.5 billion (USD 5.4 million) in AccessBank Rwanda (ABR), the eighth member of Access Microfinance Holding AG (AccessHolding), a German company that invests in microfinance institutions [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Siddhartha Bank Limited (SBL) Purchase 440k Shares of Rural Microfinance Development Center (RMDC) of Nepal Via Initial Public Offering (IPO)
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently purchased 300,000 shares at NPR 180 (USD 1.87) per unit from an initial public offering (IPO) by the Rural Microfinance Development Center (RMDC), a Nepal-based wholesale microcredit lender.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $1m to BancoSol of Bolivia to Support Rural Areas
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently notified MicroCapital that it will provide a loan of up to USD 1 million to Banco Solidario SA (BancoSol), a Bolivian commercial bank that offers microfinance services, in an effort to improve financial access for farmers and poor rural families in the Bolivian cities of La Paz, Oruro and Potosi [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $4m to FINCA Georgia to Support Micro- and Small Businesses, Entrepreneurs
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will provide a USD 4 million loan to the Republic of Georgia-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network, for on-lending to micro and small businesses as well as entrepreneurs in rural regions of Georgia.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Extends $10m Loan, $8m Trade-Finance Credit Line to Banco Financiera Centroamericana (Ficensa) of Honduras for Small and Medium-Sized Businesses
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will provide a USD 10 million senior loan and a USD 8 million trade-finance credit line to Banco Financiera Centroamericana (Ficensa), a Honduran financial institution, for on-lending to small and medium-sized businesses.
MICROCAPITAL BRIEF: IFC Loans $70m to SB Sberbank of Kazakhstan to Support Small, Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it would loan the local-currency equivalent of USD 70 million to Subsidiary Bank Sberbank of Russia Joint Stock Company (SBK) in Kazakhstan, a subsidiary of government-owned Sberbank of Russia, in an effort to increase financial access for small and medium-sized enterprises (SMEs) in Kazakhstan [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Arranges $470m in Loans for Itau Unibanco of Brazil for Women Entrepreneurs, Funded by Bank of America, Bank of Tokyo Mitsubishi, National Bank of Abu Dhabi, Development Bank of Japan
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced it will disburse a local-currency loan equivalent to USD 470 million to Itau Unibanco, a Brazilian bank, in an effort to increase the financial inclusion of women-owned enterprises in Brazil.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), European Investment Bank (EIB), Agence Française de Développement (AFD), European Commission Establish $380m Middle East, North Africa Small, Medium-Sized Enterprises Facility
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it is partnering with the European Investment Bank (EIB), the long-term lending bank of the European Union (EU); Agence Française de Développement (AFD), France’s international development agency; and the European Commission, the legislative body of the EU, via the Neighborhood Investment Facility (NIF), to establish a USD 380 million financing facility for small and medium-sized enterprises (SMEs) in the Middle East and North Africa (MENA).
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Advans Ghana to Expand Business Edge Training Program to Ghana
The International Finance Corporation (IFC), a member of the US-based World Bank Group, has formed an agreement with Advans Ghana Savings and Loans, a non-bank financial institution and member of Luxembourg’s Advans Group, to improve access to the Business Edge training program in Ghana.
MICROCAPITAL BRIEF: IFC to Loan $50m to BanBif of Peru to Support Small, Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it would loan USD 50 million to Banco Interamericano de Finanzas (BanBif), a Peruvian commercial bank, in an effort to double the number of small and medium-sized enterprises (SMEs) served by the bank by 2017.
MICROCAPITAL BRIEF: IFC, Canadian International Development Agency (CIDA), Atlantic Bank of Belize Extend Effort to Improve Access to Small, Medium-Sized Enterprises, Increase Portfolio to $35m by 2014
The International Finance Corporation (IFC), a member of the World Bank Group, and Atlantic Bank, a Belizean bank majority-held by Sociedad Nacional de Inversiones, SA of Honduras, recently launched the second phase of a project with the aim of improving access to financial services for small and medium-sized enterprises (SMEs) in Belize with support from the Canadian International Development Agency (CIDA).