The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in London, recently announced that it has committed to loan the equivalent of USD 4 million in the local currency, somoni, to First MicroFinance Bank (FMFB-TJK), a microfinance bank in Tajikistan that is affiliated with the Switzerland-based Aga Khan Development Network (AKDN) [1].
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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $10m to UniCredit Bank of the Kyrgyz Republic
The European Bank for Reconstruction and Development (EBRD), a London-based international finance institution, has distributed a loan equivalent to USD 10 million to the Kyrgyz arm of UniCredit Bank, which is based in Italy and has operations in 22 countries, for lending to micro-small and medium-sized enterprises (MSMEs) in the Kyrgyz Republic.
MICROCAPITAL BRIEF: EU Pledges Additional €5m to EBRD’s Small Business Programmes in Eastern Europe
The European Union (EU) has committed an additional EUR 5 million (USD 6.9 million) to the UK-based European Bank for Reconstruction and Development (EBRD) for its “TurnAround Management” (TAM) and “Business Advisory Service” (BAS) programs in the Eastern Partnership region [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan Equivalent of $2m in Local Currency to Frontiers Microlending to On-Lend to Microfinance Institutions in Kyrgyzstan, Tajikistan, Kazakhstan
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in London, announced recently that it has committed to loan the equivalent of USD 2 million in the local currency, somoni, to Frontiers Microlending Company (Frontiers), a Kyrgyzstan-based non-bank microfinance institution, to serve the “lower end of the microfinance market in Kyrgyzstan, Tajikistan and Kazakhstan” [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Works With African Development Bank, Islamic Development Bank to Plan Expansion to Support Emerging Arab Democracies
In a recent statement, the European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, announced that it has signed memorandums of understanding (MoUs) with the African Development Bank (AfDB), a multilateral financial institution based in Tunisia, and the Islamic Development Bank, a development finance institution based in Saudi Arabia, to outline how the institutions would cooperate in the Southern and Eastern Mediterranean region as EBRD extends its operation in the region to support the emerging Arab democracies [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), FMO of the Netherlands, Bank im Bistum Essen eG of Germany Syndicate $8m Loan for Bank Eskhata of Tajikistan For Microfinance, Small and Medium-Sized Enterprises (SMEs)
Bank Eskhata, a commercial bank located in Tajikistan, will receive a USD 8 million syndicated loan funded by three European financial institutions: the Netherlands Development Finance Company (FMO in Dutch), a public-private partnership, will provide USD 5 million; the European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, will provide USD 2 million; and Bank im Bistum Essen eG (BiB), a German cooperative bank, will provide USD 1 million.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $4m in Local Currency to Microfinance Institution (MFI) Kompanion of the Kyrgyz Republic
The European Bank for Reconstruction and Development (EBRD), a development finance institution based in the United Kingdom, has agreed to make a three-year loan of KGS 180 million (USD 4 million) in Kompanion Financial Group Microfinance Closed Joint Stock Company, a Kyrgyz microfinance institution (MFI).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), German’s Bank im Bistum Essen Co-finance $13m Loan for Russia’s Transcapitalbank
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in the UK, recently announced that Bank im Bistum Essen, a German cooperative bank committed to socially responsible lending, has funded a 3-year USD 3 million B loan as part of a USD 13 million loan package for Russia’s Transcapitalbank (TCB).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $14m to Banca Intesa Beograd of Serbia for On-Lending to Small and Medium-Sized Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a development finance institution based in the United Kingdom, has agreed to loan EUR 10 million (USD 14 million) to Banca Intesa Beograd, a Serbian commercial bank, to facilitate on-lending to small and medium-sized enterprises (SMEs) in the country.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to Microfinance Institution AccessBank Tajikistan
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, has agreed to make a four-year, local-currency loan of TJS 29 million (USD 6 million) to AccessBank Tajikistan, a bank that specializes in financial services for micro- and small enterprises (MSEs).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to Microfinance Institution (MFI) Bai Tushum of Kyrgyz Republic
The European Bank for Reconstruction and Development (EBRD), a development finance institution, has agreed to make a three-year, local-currency loan of KGS 270 million (USD 6 million) to Bai Tushum and Partners, a non-banking microfinance institution (MFI) operating in the Kyrgyz Republic.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Commits $42m to UniCredit to Boost SMEs in Russia
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in the UK, recently announced that it will lend RUB 2.0 billion
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $3m in Local Currency Somoni to Microfinance Provider Imon International of Tajikistan to Support Small Businesses
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in London, recently announced that it has committed to loan the equivalent of USD 3 million in the local currency, somoni, to Imon International LLC, a microfinance provider in Tajikistan [1]. The loan marks the expansion of EBRD’s Local Currency Lending Programme in Early Transition Countries (ETC) to Tajikistan for the first time. The ETC Initiative aims to stimulate economic activity in the countries served by EBRD that are deemed to face the most significant economic challenges. With this 4-year loan, EBRD aims to allow the Tajik borrowers, including small enterprises, microfinance institutions and small banks, avoid taking on exchange-rate risks, which can force borrowers to repay much more than expected if exchange-rates change significantly.
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: European Bank for Reconstruction and Development (EBRD), National Bank of Georgia, Georgian Ministry of Finance Agree to Promote Local-Currency Financing of Microfinance Institutions, Banks
The European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London; the National Bank of Georgia, the Georgian central bank; and the Georgian Ministry of Finance recently signed a memorandum of understanding (MOU) to launch EBRD’s “Local Currency Lending Programme” in Georgia.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Promote Energy Efficiency in Poland Through $21m Loan to BZ WBK Finance & Leasing
In its effort to boost energy efficiency in Eastern Europe, the European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, recently loaned EUR 15 million (USD 21.6 million) to BZ WBK Finance & Leasing, a subsidiary of Polish leasing company Bank Zachodni WBK, that provides medium- and long-term leasing to small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG) Subscribe to Convertible Bonds Issued by Azerbaijan’s Unibank, Provider of Microfinance and Traditional Banking
European development finance institutions, European Bank for Reconstruction and Development (EBRD) and Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG), have subscribed to convertible bonds issued by Unibank, a private commercial bank in Azerbaijan that provides microfinance and other services. EBRD has purchased USD 17.5 million in convertible bonds and DEG has committed to purchasing bonds worth USD 7.5 million [1]. The convertible bond facility was designed to support Unibank’s capital base as well as to provide long-term liquidity for continued lending to small and medium-sized enterprises and retail customers. The terms of the convertible bonds have not been reported.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) Promote Lending Against Crop Receipts in Russia, Ukraine
The European Bank for Reconstruction and Development (EBRD), a multilateral finance institution based in London, and International Finance Corporation (IFC), the private-investment arm of the World Bank Group, are working together to promote lending against crop receipts of Russian and Ukrainian farmers in an effort to increase investment in agribusiness operations by allowing farm owners to use future harvests as collateral when applying for loans [1] [2].