MICROFINANCE EVENT: CGAP (Consultative Group to Assist the Poor) / MFMI (Microfinance Management Institute) to Host Funder Training – Building Inclusive Financial Systems: How Funders Can Make a Difference

Source: CGAP.

MICROCAPITAL STORY: Change in Indian Capital Adequacy Standards Affect Microfinance Institutions

The Reserve Bank of India (RBI) recently tightened capital adequacy standards governing microfinance institutions (MFIs) in India, and several local MFIs worry the change may lead to the need to raise additional capital and increase interest rates. 

MICROCAPITAL STORY: ICICI Foundation, IFMR Trust and CRISIL to Develop Rating Standards for Microfinance Institutions (MFIs) in India

The ICICI Foundation, IFMR Trust, and CRISIL have entered into a deal to rate microfinance Institutions (MFIs). The organizations believe that rating evaluations will help MFIs develop into viable commercial entities with increased access to mainstream financial investors. In the agreement, CRISIL will rate the institutions and develop rating criteria to be used by others, IFMR will provide access to enterprises working in microfinance and the ICICI Foundation will assist in the dissemination of new ratings criteria.

MICROCAPITAL STORY: IFC to Invest in LOCKO-bank, increasing funding for microfinance loans to small and medium sized enterprises (SMEs) in Russia

The International Finance Corporation (IFC) has arranged an investment of USD 65m in LOCKO-bank, a Russian commercial bank focused on small and medium enterprises (SMEs). The loan consists of two parts: a three year USD 20m loan from the IFC and a USD 45m syndicate loan.

MICROCAPITAL STORY: The European Bank for Reconstruction and Development (EBRD) increases syndicated loan for Microfinance Bank of Azerbaijan (MFBA) up to USD 40 million

The Board of Directors of the European Bank for Reconstruction and Development (EBRD), an international bank established in 1991 to support market economies and democracies in countries from central Europe to central Asia, will meet to discuss an increase in previously announced syndicated loan to Microfinance Bank of Azerbaijan (MFBA).

MICROCAPITAL STORY: Commercial Bank Banco de Crédito del Perú to Lend $1.2m to Microfinance Institution Pro Mujer Peru

Banco de Crédito del Perú will make a USD 1.2 million-equivalent local-currency loan to microfinance institution (MFI) Pro Mujer Peru, according to a statement by the international non-profit Grameen Foundation, a major backer of the transaction.

MICROCAPITAL STORY: International Finance Corporation (IFC) to Join German Development Bank Kreditanstalt für Wiederaufbau (KfW) and Venture Capital Firm Advans Group in Launching Commercial Microfinance Institution Advans Banque Congo; Will Provide up to $3.1m in Debt and Equity

IFC (International Finance Corporation), a member of the World Bank Group, has announced it will provide financial assistance in the launching of commercial microfinance institution (MFI) Advans Banque Congo. Based in the Democratic Republic of Congo, Advans Banque Congo will provide microloans to small enterprises and individuals located in the country’s urban areas. IFC’s support of the commercial MFI is its latest project in a campaign to expand microlending to 400,000 entrepreneurs in Africa’s poorest regions.

MICROCAPITAL STORY: Swiss responsAbility Lends $600k to Honduran COMIXMUL and Peruvian Frontera

CGAP (Consultative Group to Assist the Poor) recently reported that responsAbility Global Microfinance Fund (rAGMF) made two USD 300,000 loans to Latin American Cooperativa Mixta Mujeres Unidas Limitadas (COMIXMUL) and Frontera de San Ignacio.

MICROCAPITAL STORY: responsAbility Mikrofinanz-Fonds Invests $2.7m in MicroInvest, AgroInvest, Prestanic and Fondesurco

In its Microfinance Capital Markets Update, CGAP (Consultative Group to Assist the Poor) reports that responsAbility Mikrofinanz-Fonds fund recently made investments totaling USD 2.7 million in four microfinance institutions (MFIs). In the Europe and Central Asia Region, Mikrofinanz-Fonds invested USD 300,000 in MicroInvest of Tajikistan and USD 1.5 million in AgroInvest of Serbia and Montenegro. In the Latin America and Caribbean Region, USD 500,000 was invested in Prestanic of Nicaragua and USD 400,000 in Peruvian MFI Fondesurco.

MICROCAPITAL STORY: Banco Pichincha of Ecuador Receives $75m from Inter-American Development Bank for Microfinance Endeavors

The Inter-American Development Bank (IDB) recently approved two loans worth a total of USD 75 million to Banco Pichincha of Ecuador. The IDB cites that the loan will be directed towards expanding housing finance and lending to micro, small and medium enterprises.

MICROCAPITAL STORY: responsAbility Global Microfinance Fund Invests $4.2m in EDPYME Confianza, EDPYME Alternativa, Hattha Kaksekar Ltd. and CREDIT

In its Microfinance Capital Markets Update, CGAP (Consultative Group to Assist the Poor) reports that responsAbility Global Microfinance Fund has recently made investments in microfinance institutions (MFIs) in Peru and Cambodia. Two Peruvian institutions EDPYME Confianza and EDPYME Alternativa received USD 1 million and USD 1.2 million respectively. Cambodian institutions Hattha Kaksekar Limited (HKL) and Cambodia Rural Economic Development Initiatives for Transformation (CREDIT) each received USD 1 million.