Fundacion Microfinanzas Banco Bilbao Vizcaya Argentaria (BBVA), a nonprofit affiliate of Spanish banking heavyweight BBVA Group, recently has taken a 31-percent stake in microfinance institution (MFI) Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic for an undisclosed sum.
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MICROCAPITAL BRIEF: Bamboo Finance of Luxembourg Acquires Accion Investment Fund for $105m
Bamboo Finance, a commercial investment firm based in Luxembourg, recently acquired Accion Investment Fund, a for-profit equity fund affiliated with the US-based nonprofit organization Accion, for USD 105 million.
MICROCAPITAL BRIEF: Absolute Portfolio Management Dual Return Funds Loan $5m to Microfinance Institutions in Ecuador, Peru
Absolute Portfolio Management GmbH (APM), an Austrian investment company that specializes in asset allocation, analysis and management as well as microfinance, recently disbursed loans to four microfinance institutions (MFIs) in Peru and one in Ecuador.
MICROCAPITAL BRIEF: Absolute Dual Return-Vision Microfinance Fund Invests $3.2m in FINCA Russia, AzerCredit of Azerbaijan, Bank Constanta of Georgia, Mikrofin of Bosnia and Herzegovina
Absolute Portfolio Management GmbH (APM), an Austrian investment company that specializes in microfinance and asset management, recently disbursed USD 3.2 million in loans to microfinance institutions (MFIs) in Russia, Azerbaijan, Georgia, and Bosnia and Herzegovina through a microfinance investment vehicle that it manages, the Dual Return-Vision Microfinance Fund.
MICROCAPITAL BRIEF: ResponsAbility Funds Invest $2m in ProEmpresa of Peru, $1.5m in COAC Progreso of Ecuador
ResponsAbility Social Investments, a Swiss investment company, recently informed MicroCapital that it has disbursed the local-currency equivalent of USD 1.3 million in debt to ProEmpresa, a Peruvian microfinance institution (MFI), through the responsAbility Global Microfinance Fund (rAGMF), one of the microfinance investment vehicles (MIVs) it manages.
MICROCAPITAL BRIEF: Belgian Investment Company for Developing Countries (BIO) Disburses Grant to Banco Solidario of Ecuador for Financial Education, Complimenting $8m Loan
The Belgian Investment Company for Developing Countries (BIO), a public-private partnership established by the Belgian government, recently disbursed a technical assistance grant of an undisclosed amount to Banco Solidario, an Ecuadorian microfinance institution (MFI).
MICROCAPITAL BRIEF: Absolute Portfolio Management Dual Return Fund Loans $8m to Microfinance Institutions in Azerbaijan, Cambodia, Ecuador, Indonesia, Kazakhstan, Tajikistan
Absolute Portfolio Management GmbH (APM), an Austrian investment company that specializes in microfinance, recently disbursed loans to unspecified microfinance institutions (MFIs) in Asia, Eastern Europe and South America.
MICROCAPITAL BRIEF: Smart Communications of the Philippines Partners with Mobile Money Service Provider mHIT of Australia, Microinsurance Provider BenLife
Smart Communications, a wireless service provider in the Philippines, reportedly has partnered with mHIT, an Australian mobile payment service developer and operator, to facilitate mobile money transfers and remittances for Filipinos in Australia.
MICROCAPITAL BRIEF: Accion Launches Microfinance Portfolio Management Service “Avanza”
Accion, a US-based nonprofit organization, recently launched a service called Avanza that manages retail microfinance portfolios for banks and microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Digicel, Voila Reach 5m Transactions, Receive $3.2m Award from Haiti Mobile Money Initiative
Two services of Bermuda-based mobile phone network provider Digicel Group, Tcho Tcho Mobile and Voila’s T-Cash, will share an award of USD 3.2 million from the Haiti Mobile Money Initiative (HMMI), a competition developed by the Haiti Integrated Finance for Value Chains and Enterprises (HIFIVE) incentive fund that provides prize money from the US-based Bill and Melinda Gates Foundation and the US Agency for International Development (USAID), a US government agency that provides international economic and humanitarian assistance.
MICROCAPITAL BRIEF: Department of Trade and Industry to Allocate $66.8m for On-Lending via MFIs, Capacity Building for MSMEs in the Philippines
The Philippine Department of Trade and Industry (DTI) reportedly has released its budget proposal for 2013, which includes a PHP 2 billion (USD 47.8 million) incentive fund for microfinance institutions (MFIs) and a PHP 800 million (USD 19 million) capacity-building program for micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: NovoPayment Launches Reloadable Prepaid Mastercard LATODO in Peru
NovoPayment, a US-based prepaid card provider, in conjunction with its subsidiary Servitebca Peru, has released LATODO Mastercard, a general purpose reloadable (GPR) prepaid card program in Peru.
MICROCAPITAL BRIEF: World Council of Credit Unions’ Young Credit Union People (WYCUP) Scholarship Applications Due June 1, 2012
The World Council of Credit Unions’ Young Credit Union People (WYCUP) Scholarship Program recently announced the agenda for its four-day program to take place in Gdansk, Poland, from July 15, 2012 – July 18, 2012.
MICROCAPITAL BRIEF: responsAbility Lends $6.9m to Latin American Microfinance Companies Crecer, Fundacion Mundo Mujer Popayan
Switzerland’s responsAbility Social Investments AG recently reported to MicroCapital that it has made investments equivalent to USD 6.9 million in Bolivian microfinance institution (MFI) Crecer and Colombian MFI Fundacion Mundo Mujer (FMM) Popayan.
MICROFINANCE PUBLICATION ROUND-UP: Financial Behavior in Latin America; Microfinance Reporting Technology; Evaluation of India’s Kshetriya Gramin Financial Services (KGFS)
“The Financial Behavior of Rural Residents: Findings from Five Latin American Countries;” by Jacqueline Urquizo; published by Accion; March 2012; 45 pages; available at: http://centerforfinancialinclusionblog.files.wordpress.com/2012/03/the-financial-behavior-of-rural-residents_march-2012.pdf
MICROFINANCE PAPER WRAP-UP: “Agent Banking in Latin America,” by the National Banking and Securities Commission (CNBV) of Mexico and Celina Lee, published by the Alliance for Financial Inclusion
By the National Banking and Securities Commission of Mexico and Celina Lee, published by the Alliance for Financial Inclusion, February 2012, 19 pages, available at: http://www.microfinancegateway.org/p/site/m//template.rc/1.1.14613
MICROCAPITAL BRIEF: Liberian Senate President Disburses First Tranche of $18k Microloan Fund
Liberian Senate President Pro-Tempore Gbehzohngar Findley reportedly has disbursed LRD 600,000 (USD 8,100) to provide microloans for small-scale retailers in Liberia’s Grand Bassa County.
MICROCAPITAL BRIEF: Draft Law Would Cut Subsidies, Cap Interest Rates in Sri Lanka, Establish Microfinance Regulatory Authority
The Sri Lankan government recently released a new draft law to regulate microfinance, which would establish a Microfinance Regulatory and Supervisory Authority (MRSA) run by a five-person board of directors.