The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund that mobilizes capital for microfinance institutions (MFIs), recently informed MicroCapital that it has loaned the local-currency equivalent of USD 453,000 to Opportunity Microcredit Romania (OMRO), a Romanian MFI that is a member of the US-based Opportunity International network.
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MICROCAPITAL BRIEF: Microfinance Institution Bai Tushum and Partners of Kyrgyz Republic to Transform to Bank Status
Bai Tushum and Partners, a microfinance institution (MFI) based in the Kyrgyz Republic, reportedly has received permission from the National Bank of the Kyrgyz Republic, the central bank of the country, to become a bank.
MICROFINANCE EVENT: The African Microfinance Transparency to Host 5th Annual Investor’s Fair, Tunisia, October 11-12, 2012
Event name: Fifth Annual Investor’s Fair
Event date: October 11-12, 2012
MICROCAPITAL BRIEF: Incofin Rural Impulse Fund II Completes Equity Investment in Microfinance Institution Azercredit of Azerbaijan, Volksvermogen Raises Stake to 10% in ProEmpresa of Peru
The Incofin Rural Impulse Fund II (RIF II), a microfinance investment vehicle (MIV) that mobilizes capital for rural microfinance institutions (MFIs), recently completed an equity investment of an undisclosed amount in Azercredit, an Azerbaijani MFI.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) to Place Equity Investment, Grant in Microfinance Institution ACME of Haiti
The Multilateral Investment Fund, an autonomous fund administered by the US-based Inter-American Development Bank, has approved an equity investment of an undisclosed amount in Haitian microfinance institution (MFI) Association pour la Cooperation avec la Micro Enterprise (ACME).
MICROCAPITAL BRIEF: Planning Minister of Jordan Meets Microfinance Representatives
The Minister of Planning and International Cooperation of Jordan, J’afaar Hassan, recently met with a group of microfinance practitioners as part of the operational plan of the country’s national strategy for the microfinance sector.
MICROCAPITAL BRIEF: Parliament Votes for Tougher Regulation of Microcredit Organizations in Kazakhstan
While details remain sparse, the Majilis, the lower house of the Parliament of Kazakhstan, recently passed a new bill regulating microfinance institutions (MFIs) that is intended to protect the rights of the borrowers.
MICROCAPITAL BRIEF: Incofin Investment Management Invests $2.4m in Equity in Indian Annapurna Microfinance
Incofin Investment Management, a Belgian company that manages microfinance investment funds, has paid INR 13 crore (USD 2.36 million) for an equity stake of undisclosed size in Annapurna Microfinance Private Limited, a for-profit microfinance company based in the Indian state of Orissa. Annapurna has nearly 125,000 clients across 18 districts in Orissa and a loan book of INR 35.78 crore (USD 6.49 million).
MICROCAPITAL BRIEF: Amid Concerns of a Bubble In Kyrgyzstan, 94 Microfinance Institutions Are Shut Down, 31% of Borrowers Owe Multiple Loans
According to a quote attributed to Fatima Eshimbekova of the World Bank Group’s International Finance Corporation (IFC), MFIs in Kyrgyzstan have doubled their aggregate loan portfolio since 2010.
MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Bans Minimum Deposit Requirements, Flat-rate Interest
The Central Bank of Nigeria (CBN), Nigeria’s central banking authority, reportedly has ordered all banks in Nigeria “to allow new customers to open account with zero amount to attract more people into the banking system.”
MICROFINANCE PAPER WRAP-UP: “Women are Useful to Microfinance: How Can We Make Microfinance Be More Useful to Women”, Workshop paper at 2011 Global Microcredit Summit
By Dr. Linda Mayoux, Consultant for Hivos and Oxfam Novib UK, November 2011, 20 pages, available at: http://www.genfinance.info/documents/MyPubs/Women%20are%20Useful%20to%20Microfinance_final.pdf
This report introduces methods for promoting women’s empowerment as a strategy for increasing the long-term financial sustainability of microfinance institutions (MFIs). It introduces points of entry for gender equality and empowerment as well as innovation in policies, product design, non-financial services, customer protection, regulations and gender indicators in social performance management and management information systems.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $10m to NBD Bank of Russia to Support Small Businesses
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has provided a five-year loan of RUB 300 million (USD 10 million) to Russia-based NBD Bank to support small businesses in small company towns in central Russia.
MICROCAPITAL BRIEF: Freedom from Hunger, Oikocredit to Implement Health Protection Through Microfinance Institutions in Ecuador, Peru
Freedom from Hunger, a US-based non-governmental organization that aims to alleviate poverty, and Oikocredit, a Dutch cooperative investment fund, plan to partner with six microfinance institutions (MFIs) in the Andes mountains of Ecuador and Peru to implement Freedom from Hunger’s microfinance and health protection model.
MICROFINANCE PAPER WRAP-UP: “Building Livelihoods. A Field Manual for Practitioners in Humanitarian Settings – Microfinance Interventions”, Published by The Women’s Refugee Commission
By The Women’s Refugee Commission, May 2009, 36 pages, available at: http://www.womensrefugeecommission.org/docs/livelihoods_manual.pdf
This report describes the benefits of providing microfinance programs to displaced people as well as the potential mistakes of poorly planned interventions. It also recommends ways of including age-, gender-, ability- and conflict-sensitive approaches in such microfinance programs. Finally, it provides resources for developing interventions, mapping the needs of a targeted population and creating guidelines for monitoring and evaluation. This summary focuses on the “Microfinance Interventions” chapter of the report, which is part of the livelihood interventions section of the report. The two other sections of the manual are: non-intervention guidance and “Tools and Approaches”.
MICROCAPITAL BRIEF: Rural Impulse Fund II, MicroVest II, ASN-Novib Fund Purchase 45% Stake In Arnur Credit Microfinance Institution of Kazakhstan
Rural Impulse Fund II, a Belgian microfinance investment vehicle managed by Incofin Investment Management; MicroVest II, a US-based equity fund managed by MicroVest Capital Management, and ASN-Novib fund, a Dutch microfinance investment vehicle managed by Triple Jump, have taken stakes totaling 45 – percent ownership in Arnur Credit, a microfinance institution (MFI) based in Kazakhstan.
MICROCAPITAL BRIEF: Professional Life Assurance Launches Microinsurance in Zambia
Zambian health, life and pension products provider Professional Life Assurance has launched a microinsurance program called Bantu Bonse for low-income clients in Zambia.
MICROCAPITAL BRIEF: Switzerland’s Azure Partners Launches Azure Global Microfinance Fund
Azure Partners, a Swiss company specializing in “socially responsible investments,” has launched Azure Global Microfinance Fund, a microfinance-focused “fund of funds” that will accept investments from both private and institutional investors [1].
MICROCAPITAL BRIEF: Microfinance CEO Working Group Issues Road Map for Microfinance Industry Promoting Smart Campaign, Microfinance Transparency, Social Performance Task Force
A group of eight CEOs of nonprofit microfinance organizations has issued a “Road Map for the Microfinance Industry: Focusing on Responsible and Client-Centered Microfinance.”