by Medha Ravi -

MICROCAPITAL BRIEF: Belgian Incofin Loans $1.5m to TenGer Financial Group of Mongolia

Incofin cvso, a Belgian cooperative company that invests in microfinance, recently loaned MNT 41 million (USD 1.5 million) to Tenger Financial Group, a Mongolian Company that controls XacBank LLC, XacLeasing LLC, Horus Nomadic Solutions LLC and TenGer Insurance LLC. Founded in 2001, the group was formed following the merger of Goviin Ehlel (renamed XAC-GE Holding) and X.A.C. (renamed XacBank), two non-bank financial institutions that focus on micro-, small and medium enterprises.

by John Howard-Smith -

MICROCAPITAL SPECIAL REPORT: “Principles for Investors in Inclusive Finance” Launched at Responsible Finance Forum in The Hague, Netherlands

A group of 40 global investors in the microfinance industry, including US retirement planning firm TIAA-CREF and several microfinance investment vehicles (MIV), recently launched a set of guiding principles for investing in the microfinance industry at the Responsible Finance Forum in The Hague, Netherlands. The initiative – titled “Principles for Investors in Inclusive Finance” – is reportedly the brainchild of Her Royal Highness Princess Maxima, the United Nations Secretary General’s Special Advocate for Inclusive Finance for Development, and a core group of Dutch investors, including; Triodos, a microfinance investment vehicle (MIV); Goodwell, a for-profit social investment outfit; Oikocredit, a cooperative investment fund; PGGM, an investment and pension firm; and SNS Asset Management, an institutional investment group. The group and Her Royal Highness Princess Maxima developed the principles together with CGAP and the United Nations-backed Principles for Responsible Investment (PRI), a network of international investors created to promote the practice of responsible investing.

by Medha Ravi -

MICROCAPITAL BRIEF: responsAbility Social Investments AG of Switzerland Launches responsAbility Ventures I, a Venture Capital Fund That Invests in Companies Aiming for Development Impact

responsAbility Social Investments AG, an investment company based in Switzerland, recently launched responsAbility Ventures I, a venture capital fund that invests in companies that provide basic services in the areas of energy, agriculture and information and communication technology (ICT) to the bottom of the pyramid (BOP). The BOP refers to approximately 3 billion people in Asia, Latin America and Eastern Europe who do not have adequate access to these services.

by John Howard-Smith -

MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Releases Study Analyzing Microfinance Industry, Performance of Microfinance Investment Vehicles (MIVs)

The Luxembourg Fund Labeling Agency (LuxFLAG), an organization that certifies whether investment vehicles actually invest in the microfinance sector, has released a study analyzing 2009 and early-2010 trends in the microfinance industry as well as the performance of microfinance investment vehicles (MIVs) that were carrying the LuxFLAG certification label during the period covered in the study.

by Diana Baide -

MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Grants Transparency Certificates to Microfinance Investment Vehicles (MIVs) That Adhere to Environmental, Social and Governance (ESG) Standards

CGAP (Consultative Group to Assist the Poor), a policy and research center dedicated to enhancing financial access for the world’s poor, has announced its granting of Transparency Certificates to several microfinance investment vehicles (MIVs) that are in compliance with its environmental, social and governance (ESG) guidelines for MIVs.

by Diana Baide -

MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor), LuxFLAG, United Nations Principles for Responsible Investment (UNPRI), Eurosif Partner to Award Three Microfinance Investment Vehicle (MIV) Environmental, Social and Governance (ESG) Awards

CGAP (Consultative Group to Assist the Poor), an independent policy and research center dedicated to providing financial access for the world’s poor, has teamed up with the United Nation’s Principles for Responsible Investment (UNPRI), a network of international investors created under the auspices of the UN to promote the practice of responsible investing; LuxFLAG, an organization that certifies that microfinance vehicles (MIVs) actually invest in the microfinance sector; and the European Social Investment Forum (Eurosif), a pan-European network aiming to foster sustainable development through European financial markets, to create the CGAP Microfinance Investment Vehicle (MIV) Environmental, Social and Governance (ESG) Awards.

by Lindsey Shaughnessy -

MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Microfinanz-Fonds Invest $1.4m in Microfinance Institutions OXUS Tajikistan and Enterprise Bank Inc of the Philippines

responsAbility Global Microfinance Fund (rAGMF) and responsAbility Microfinanz-Fonds, microfinance investment vehicles managed by responsAbility Social Investments AG, recently reported to MicroCapital the details of four debt investments made during the month of July 2010, totaling the equivalent of USD 1.4 million, in microfinance institutions OXUS Tajikistan and the Enterprise Bank, Inc of the Philippines.

by Matthew Fox -

MICROCAPITAL BRIEF: German Asset Management Firm, Finance In Motion, Signs the United Nations’ Principles for Responsible Investment

Finance in Motion (FIM), a German asset management firm with EUR 800 million under advisory, has signed the United Nations’ (UNs’) Principles for Responsible Investment (PRI), thereby pledging to integrate sustainability into its investment processes. The PRI are declarations jointly developed by the UN Environment Program Finance Initiative and the UN Global Compact.

by Conner Brannen -

MICROCAPITAL BRIEF: The Financial Times (FT) and the International Finance Corporation (IFC) Announce Winners of 2010 Sustainable Banking Awards – Recipients Include Co-operative Financial Services, Itau Unibanco, One Acre Fund, Financial Information Network and Operations (FINO) and Global Environment Fund

The Financial Times (FT) and the International Finance Corporation (IFC) announced the winners of the 2010 Sustainable Banking Awards. Co-operative Financial Services, a British financial group with GBP 1.1 billion (USD 1.6 billion) in total revenue in 2009, was named as the Sustainable Bank of the Year, while Itau Unibanco, a publicly quoted bank in Brazil with USD 356.3 billion in total assets in 2009, was named the Emerging Markets Sustainable Bank of the Year.

by Stefanie Rubin -

MICROCAPITAL BRIEF: LeapFrog Investments Poised to Invest $30m to $37m in Microinsurance Projects in India

In a recent interview with the Indian online news platform VCCircle, Mr Jim Roth, Principal at LeapFrog Investments, a private equity microinsurance fund, said that of the fund’s USD 110 million in capital, it would commit USD 30 to 37 million to microinsurance products in India.

by Christine Chang -

MICROCAPITAL BRIEF: BASIX Microfinance Institution Bhartiya Samruddhi Finance Limited (BSFL) of India Plans to Raise $16.8m via Non-Convertible Debentures (NCDs)

Bhartiya Samruddhi Finance Limited (BSFL), an Indian microfinance institution (MFI) that is a member of the BASIX (Bhartiya Samruddhi Investment & Consulting Service) Group, is reportedly planning to raise INR 750 million (USD 16.8 million) in non-convertible debentures (NCDs) within the next couple of months.

by Christopher Maggio -

MICROCAPITAL BRIEF: Janalakshmi Financial Services (JFS), a Microfinance Institution (MFI) Located in India, Raises $10m from Funders Including Tree Line Asia Master Fund (Singapore) Private Limited and Bellwether Microfinance Fund

Janalakshmi Financial Services (JFS), a microfinance institution (MFI) located in India, has raised INR 45.8 crore, the equivalent of over USD 10 million, in a second round of funding.

by the MicroCapital Team -

MICROCAPITAL BRIEF: 2010 Financial Times Sustainable Banking Awards Accepting Entries Through February

The Financial Times (FT) newspaper, in partnership with the World Bank’s International Finance Corporation (IFC), has launched the 2010 FT Sustainable Banking Awards, which recognizes banks financial institutions for leadership and innovation in integrating environmental, social and governance considerations into their operations.