The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, reportedly has approved a USD 2.5 million equity investment in El Fondo para el Desarrollo, Inc. (FONDESA), a nonprofit microfinance institution in the Dominican Republic. The investment is intended to help FONDESA acquire status as a regulated microfinance institution under the new name Banco de Ahorro y Crédito FONDESA (BANFONDESA).
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MICROFINANCE PUBLICATION ROUND-UP: Property Microinsurance in Colombia, Portfolio Reviews for Microfinance Funders, Microfinance Rating Comparability
“MILK Brief #18: Doing the Math with Property Microinsurance in Coastal Colombia;” by Barbara Magnoni and Derek Poulton; published by Microinsurance Centre; October 2012; 2 pages; available at: http://www.microinsurancecentre.org/milk-project/milk-docs/doc_details/914-condensed-milk-18-doing-the-math-with-property-microinsurance-in-coastal-colombia.html
MICROFINANCE EVENT: Third Annual Seminar on Risks in Indian Microfinance, February 18, 2013, Pune, Maharashtra, India
Event Name: Third Annual Seminar on Risks in Indian Microfinance
Event Date: February 18, 2013
Event Location: Pune, Maharashtra, India
MICROCAPITAL BRIEF: IFC, Global Agriculture and Food Security Program Invest $10m in Root Capital for Farmers in Africa, Latin America
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the private-sector office of the Global Agriculture and Food Security Program (GAFSP), a multilateral mechanism established by the G20 group of 20 large economies, have announced that each of the organizations will invest USD 5 million in Root Capital, a US-based nonprofit social investment fund.
MICROCAPITAL BRIEF: Inter-American Development Bank to Allow Public to Select Programs Seeking to Improve Financial Inclusion for People with Disabilities in Latin America and the Caribbean
The Inter-American Development Bank (IDB), a US-based multilateral financial institution, recently announced a call for proposals to increase the inclusion of people with disabilities as financial sector clients and workers in Latin America and the Caribbean. The competition is open to public and private financial institutions from IDB’s 48 member countries to propose projects to be carried out in Latin America and the Caribbean. Proposals will be voted on by the public, and the ideas with the most votes will receive grants of up to USD 50,000 to assist with their implementation. Proposals that focus on gender equality will be given priority.
MICROCAPITAL BRIEF: Peru, Bolivia, Pakistan Top 2012 Global Microscope on Microfinance Business Environment
According to the Global Microscope on the Microfinance Business Environment 2012, a recent report by the UK-based Economist Intelligence Unit (EIU), Peru is the top country in microfinance for the fifth consecutive year due to its strong regulatory environment.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Commits Technical Assistance To Indian Credit Bureau, High Mark
The International Finance Corporation (IFC), the private investment arm of the World Bank Group, recently agreed to provide technical assistance to High Mark, an Indian credit bureau, in an effort to encourage microfinance lenders in India to use credit bureaus in assessing the repayment capacity of borrowers.
MICROCAPITAL BRIEF: Habitat for Humanity, Citi Foundation, Multilateral Investment Fund (MIF) Unveil The Housing Microfinance: Product Development Toolkit
Habitat for Humanity, a US-based nonprofit organization, and Citi Foundation, the charitable arm of US-based financial services provider Citigroup, recently unveiled “The Housing Microfinance: Product Development Toolkit” in an effort to increase lending to improve housing for poor people worldwide.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) to Make $4m Equity Investment in Vox Capital Impact Investing Fund of Brazil for Social Businesses, SMEs
The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, recently announced that it will make a USD 4 million equity investment in Vox Capital Impact Investing Fund, a Brazilian venture capital fund targeting small and medium-sized enterprises (SMEs) and start-ups that serve the low-income population, also referred to as the base of the pyramid (BoP).
MICROCAPITAL BRIEF: 15 Caribbean Microfinance Institutions to Benefit from $2m Phase Two of Caribbean Microfinance Capacity Building Project (CARIB-CAP II)
Fifteen microfinance institutions in the Caribbean have recently become beneficiaries of a USD 2.7 million technical cooperation fund that will provide customized staff training programmes.
MICROCAPITAL BRIEF: IFC Invests $10m in CoreCo Central America Fund to Support SMEs
CoreCo Central America Fund I, a private equity fund based in Guatemala that invests in small and medium-sized enterprises (SMEs) in Central America, recently received an equity investment of USD 10 million from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group.
MICROCAPITAL BRIEF: SKS Microfinance of India Posts Portfolio Growth of 21% Outside Andhra Pradesh; Royal Bank of Scotland, Morgan Stanley Asia Purchase Stakes as Deutsche Securities Mauritius Cashes Out
Since India’s SKS Microfinance experienced average losses per quarter of INR 2 billion (USD 37.8 million) during the year ending March 2012, the Indian microlender has been able to borrow approximately INR 10 billion (USD 189 million) from banks.
MICROCAPITAL BRIEF: 8th Annual Clinton Global Initiative: Commitments to Financial Access, Global Citizen Awards Presented
The eighth annual Clinton Global Initiative (CGI), which concluded on Wednesday, September 26, focused on the theme “Designing for Impact,” which was intended to promote the use of creativity and innovation to drive change, particularly through social investment and the empowerment of women. Approximately 150 new commitments to various projects were announced, as were progress reports for commitments made in previous years. The new commitments include:
MICROCAPITAL BRIEF: Multilateral Investment Fund, Global Partnerships to Establish $1m Health Project in Ecuador, Haiti, Honduras, Nicaragua
The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, has agreed to partner with Global Partnerships, a US-based nonprofit, to support microfinance institutions (MFIs) and cooperatives in offering health services and health education to low-income households in Ecuador, Haiti, Honduras and Nicaragua.
MICROCAPITAL BRIEF: Inter-American Development Bank Issues Partial Credit Guarantee of $2.4m to Microfin of Uruguay
The Inter-American Development Bank (IDB), a US-based finance institution that provides funding to support small and medium-sized enterprises (SMEs) and other sectors, recently issued a partial credit guarantee of UYU 51.4 million (USD 2.41 million) to Microfin, a microfinance institution (MFI) that provides support to SMEs in Uruguay.
MICROFINANCE EVENT: Multilateral Investment Fund (MIF) to Host 15th Annual Inter-American MicroEnterprise Forum (Foromic), Bridgetown, Barbados, October 1-3, 2012
Event Name: 15th Inter-American MicroEnterprise Forum (Foromic)
Event Location: Lloyd Erskine Sandiford Centre, Bridgetown, Barbados
MICROCAPITAL BRIEF: Inter-American Development Bank Loans $10m to Central Bank of Ecuador To Support Financial Inclusion
The Inter-American Development Bank (IDB), a US-based multilateral financial institution, has offered the Central Bank of Ecuador a USD 10 million loan.
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).