Hana Bank, a Seoul-based commercial bank that is the primary banking subsidiary of South Korean Hana Financial Group, reportedly has announced the establishment of Hana Microfinance, a microfinance institution (MFI) in Myanmar.
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MICROCAPITAL BRIEF: World Bank Group Donating $22m to, Investing $2m in Agriculture Commercialization in Tajikistan
The International Development Association (IDA), the arm of the World Bank Group (WBG) that offers interest-free credits and grants to the world’s 82 poorest countries, is planning to disburse a grant of USD 22 million to support the “Tajikistan Agriculture Commercialization Project”[1] of the government of Tajikistan.
MICROCAPITAL BRIEF: AccessBank Azerbaijan Receives $15m Loan from Green for Growth Fund for Financing Energy-Efficient Projects
AccessBank Azerbaijan, a microfinance bank (MFB) in Azerbaijan, has borrowed USD 15 million from the Green for Growth Fund, Southeast Europe (GGF), a European public-private partnership that focuses on improving energy efficiency and promoting renewable energy sources in Southeastern Europe, with the aim of increasing AccessBank’s financing of energy-efficient projects.
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $500k in Equity to Acquire 8% of Kenyan Microinsurer Agriculture and Risk Enterprise (ACRE), Loans $334k to Ecumenical Church Loan Fund (ECLOF) for Technical Assistance
The Grameen Credit Agricole Microfinance Foundation (GCAMF), which is based in Luxembourg and invests in “social businesses,” recently informed MicroCapital that it has made an investment of USD 500,000 in Nairobi-based Agriculture and Risk Enterprise Limited (ACRE), a microinsurance provider that aims to launch products in East and West Africa in exchange for an 8-percent stake in the company.
MICROCAPITAL BRIEF: Pakistan-based Microfinance Institution (MFI) Wasil Foundation Wins $100k Islamic Microfinance Challenge 2014
The Wasil Foundation (Wasil), a nonprofit that aims to alleviate poverty through enterprise development in Pakistan, has won the 2014 Islamic Microfinance Challenge, a competition that promotes Sharia-compliant microfinance products, which prohibit interest payments in keeping with Islamic practices.
MICROCAPITAL BRIEF: ANZ Royal Bank, Microfinance Institution (MFI) Hattha Kaksekar Limited (HKL) to Share Branches, ATMs
ANZ Royal Bank (ANZ), a joint venture between the Australia and New Zealand Banking Group Limited (ANZ Group) and the Cambodian Royal Group of Companies, and Hattha Kaksekar Limited (HKL), a Cambodian microfinance institution (MFI), reportedly have entered into a partnership to offer a wider range of financial service products to the clients of the two institutions.
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $2m to Cambodian Angkor Mikroheranhvatho Kampuchea; Invests $546k in Equity in Palestinian Arab Center for Agricultural Development
The Luxembourg-based Grameen Credit Agricole Microfinance Foundation (GCAMF), which provides financial services to “social businesses,” recently informed MicroCapital that it has provided a three-year loan of EUR 1.5 million (USD 2.05 million) to Angkor Mikroheranhvatho Kampuchea Company Limited (AMK), a microfinance institution located in Cambodia.
MICROCAPITAL BRIEF: Grameen Credit Agricole Lends $1m to Première Agence de Microfinance au Burkina Faso, $239k to Biotropical of Cameroon
Grameen Credit Agricole, a Luxembourg-based organization that provides financing to microfinance institutions (MFIs), recently informed MicroCapital that it has granted a 3-year loan of EUR 770,000 (USD 1.05 million) to the Première Agence de Microfinance au Burkina Faso (PAMF-BF), an MFI in Burkina Faso, and a loan of EUR 175,000 (USD 239,000) to Biotropical, a Cameroon-based fruit company that works with small farmers.
MICROCAPITAL BRIEF: MicroVentures Invests $13.5m in Equity in Microfinance Institution Grameen Koota of India
Indian non-banking financial company Grameen Financial Services Private Limited, which is also known as Grameen Koota, reportedly has received an equity investment of USD 13.5 million from Italy-based private equity firm MicroVentures.
MICROFINANCE EVENT: Munich Re Foundation, Microinsurance Network to Host 10th International Microinsurance Conference, November 11-13, 2014, Mexico City
Event Name: 10th International Microinsurance Conference
Event Date: November 11-13, 2014
Event Location: Sheraton Maria Isabel Hotel and Towers, Mexico City,
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Introduces FINclusion Lab, Offering Country-Specific Financial Inclusion Data Visualization and Analysis
The Microfinance Information Exchange (MIX), a US-based nonprofit, recently announced the launch of FINclusion Lab, a platform that provides interactive visual interpretation and analysis of country-specific data pertaining to financial services activities in Africa, Asia and Latin America [1].
MICROFINANCE EVENT: G20 Young Entrepreneurs’ Alliance Summit 2014, July 18-22, 2014, Sydney, Australia
Event Name: G20 Young Entrepreneurs’ Alliance Summit 2014
Event Date: July 18-22, 2014
Event Location: Sheraton on the Park Hotel, Sydney, Australia
MICROFINANCE PUBLICATION ROUND-UP: Islamic Social Finance, Transforming Client Complaints into Loyalty, Microinsurance Profitability
“Islamic Social Finance Report 2014,” by Thomson Reuters and the Islamic Research and Training Institute, published by Zawya, 2014, 64 pages, available at: http://www.zawya.com/islamic-finance/isfr/
This report examines opportunities and challenges for Islamic social finance in Bangladesh, Brunei Darussalam, India, Indonesia, Malaysia, Pakistan and Singapore.
MICROFINANCE EVENT: Asia Agriculture Insurance Conference: June 10-11, 2014, Singapore
Event Name: 2nd Asia Agriculture Insurance Conference
Event Date: June 10-11, 2014
Event Location: Mandarin Orchard Hotel, Singapore
MICROCAPITAL BRIEF: Aavishkaar to Raise $75m for “Frontier Fund” to Invest in South, Southeast Asia
Aavishkaar, an Indian manager of impact-oriented venture capital investments, reportedly plans to raise USD 75 million for its newly launched Aavishkaar Frontier Fund, an international social venture capital fund that aims to place investments in 300 start-ups in various countries in South Asia and Southeast Asia including Bangladesh, Indonesia, Myanmar, Pakistan and Sri Lanka.
MICROCAPITAL BRIEF: LeapFrog Invests $29m in Equity in Institute for Financial Management and Research (IFMR) Capital of India
LeapFrog Investments, a for-profit private equity fund based in Mauritius that invests in microfinance, reportedly has invested USD 29 million in return for a minority stake of undisclosed size in the Institute for Financial Management and Research (IFMR) Capital, an Indian non-banking financial company that facilitates funding for organizations that serve low-income people.
MICROFINANCE PUBLICATION ROUND-UP: Government Efforts to Achieve Financial Inclusion in India; Index-based Insurance in South, Southeast Asia; Microinsurance Claims Management
“Report of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households;” published by the Reserve Bank of India (RBI); December 31, 2013; 247 pages; available at http://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/CFS070114RFL.pdf
This report was authored by the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, which was appointed by the Reserve Bank of India (RBI) in September 2013 to propose measures for increasing access to financial services in India.
MICROCAPITAL BRIEF: EBay Microfinance Unit MicroPlace Ceases Accepting New Investments
MicroPlace, a US-based facilitator of investments in international microfinance and subsidiary of online auctioneer eBay, recently announced that it will no longer offer investment opportunities.