The Multilateral Investment Fund (MIF), an investment fund administered by the US-based Inter-American Development Bank (IDB), recently loaned USD 3 million to the Fondo de Capital Privado Inversor (FCPI), a Colombia-based venture capital fund.
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MICROCAPITAL BRIEF: Global Partnerships Social Investment Fund (SIF) 2010 Loans $700k to FONDECO of Bolivia, Enlace of El Salvador
Global Partnerships (GP), a microfinance organization based in the United States, recently reported to MicroCapital that it made debt investments totaling USD 700,000 in microfinance institutions (MFIs) in Bolivia and El Salvador [1].
MICROCAPITAL BRIEF: responsAbility Loans $3.9m to Microfinance Institutions Financiera Confianza, Cooperativa Agropecuaria Limitada Naranjillo of Peru
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it loaned the equivalent of USD 3.9 million to microfinance organizations Financiera Confianza and Cooperativa Agropecuaria Limitada Naranjillo of Peru.
MICROCAPITAL BRIEF: Wholesale Lenders Agree to Restructure Debt of Indian Microfinance Institution (MFI) Spandana Sphoorty Financial Limited
A group of lenders, led by Indian commercial bank ICICI Bank, has approved a debt restructuring plan for Spandana Sphoorty Financial Limited, an Indian microfinance institution (MFI).
MICROCAPITAL BRIEF: Indian Banks Seek Personal Guarantees from Microfinance Institution (MFI) Executives As Condition of Debt Restructuring
Indian banks that have entered negotiations with microfinance institutions (MFIs) regarding restructuring wholesale microfinance debt have reportedly insisted on personal repayment guarantees from MFI directors [1].
MICROCAPITAL BRIEF: Dutch Development Finance Institution FMO Invests $4.4m in Global Partnerships Social Investment Fund 2010
Global Partnerships (GP), a microfinance organization with offices in the United States and Nicaragua, recently reported to MicroCapital that the Netherlands Development Finance Company (FMO) has invested USD 4.4 million in the Global Partnerships Social Investment Fund (SIF) 2010, raising the fund’s capital to USD 25 million.
MICROCAPITAL BRIEF: Global Partnerships (GP) Renews Existing Loan, Makes New $500k Loan to Pro Mujer Nicaragua; Converts $1.2m Loan into Local Currency for Credivision Peru
Global Partnerships (GP), a microfinance organization with offices in the United States and Nicaragua, recently reported to MicroCapital that it made new loans and renewed existing loans to microfinance institutions (MFIs) in Latin America worth USD 2.3 million.
MICROCAPITAL BRIEF: Global Partnerships (GP) Microfinance Funds Loan $1m to Enlace of El Salvador, Cafe y Desarrollo of Mexico
Global Partnerships (GP), a microfinance organization with offices in the United States and Nicaragua, recently reported to MicroCapital that it made debt investments worth USD 1 million to microfinance institutions (MFIs) in El Salvador and Mexico.
MICROCAPITAL BRIEF: Global Partnerships Social Investment Fund (SIF) 2010 Loans $3m to Sartawi, FONDECO of Bolivia and Espoir of Ecuador for Microfinance
Global Partnerships (GP), a microfinance organization based in the United States, recently reported to MicroCapital that it made debt investments totaling USD 3 million in microfinance institutions in Latin America.
MICROCAPITAL BRIEF: Peruvian Microfinance Institution (MFI) Mibanco Seeks $60m Syndicated Loan from International Finance Corporation (IFC), Grupo ACP Issues $85m in Bonds
Mibanco, a Peruvian microfinance institution (MFI), is seeking a syndicated loan in an amount equivalent to USD 60 million from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) Forecasts Remittances Will Rise in Latin America, Caribbean
The Multilateral Investment Fund (MIF), which is managed by the US-based Inter-American Development Bank (IDB), recently forecast that remittances will rise in Latin American and the Caribbean during 2011 after falling from USD 69.2 billion in 2008 to USD 58.8 billion in 2009 and remaining stable at USD 58.9 billion in 2010. But the purchasing power of those remittances, an important source of capital for poor people in developing countries, is expected to continue to fall. In 2010, the purchasing power of remittances received in Latin America and the Caribbean was 8.9 percent lower than in 2009 due largely to local-currency appreciation.
MICROCAPITAL BRIEF: Thailand’s Ministry of Finance Launches Community Banking Program Based on Microfinance Model of Grameen Bank, Bank for Agriculture and Agricultural Cooperatives (BAAC) Sets Aside $321m for Lending, Staff Training
As part of its five-year financial sector development plan, Thailand’s Ministry of Finance along with the Bank of Thailand (BOT), the central banking authority in Thailand, has launched a community banking program that mirrors the model of Grameen Bank of Bangladesh. The program, which aims to improve access to finance for poor people in rural areas, is set up so that each community bank will be partly owned and run by members of the community, with financial support provided by state-owned banks when required. Personal guarantees offered by other members of the community will serve as collateral for the loans extended.
MICROCAPITAL BRIEF: ACCION Microfinanças of Manaus, Brazil Begins Disbursing Microfinance Loans
ACCION Microfinanças, a microfinance institution (MFI) operating in Brazil as a subsidiary of US-based nonprofit ACCION International, recently disbursed its first loan. Officially established in December 2010, ACCION Microfinanças aims support to poor people and small and medium-sized enterprises (SMEs) in the Amazon region through access to microcredit.
MICROCAPITAL BRIEF: Inter-American Investment Corporation (IIC) Approves $15m Loan for Microfinance Institutions in Peru
The Inter-American Investment Corporation (IIC), a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group, recently approved funding of up to USD 15 million for a program in Peru that is intended to expand lending to individuals for home purchases and remodeling and business lending to micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: Calvert Foundation, Investor in Microfinance and Community Development, Appoints Lisa Hall as New Head
The board of Calvert Foundation, a US-based organization that invests in microfinance and community development projects in the US and around the world, has recently appointed Lisa Hall to succeed Shari Berenbach as its President and CEO. Ms Berenbach served as the head of Calvert Foundation from 1997 to 2010, during which the organization’s total assets under management grew from USD 5 million to USD 500 million.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $35m in Equity of Indian Microfinance Institution (MFI) Bandhan Financial Services
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington DC, will make an INR 1.6 billion (USD 35.1 million) equity investment in Bandhan Financial Services, a microfinance institution (MFI) based in Kolkata, India, to expand its operations in the country. The deal is reportedly the largest equity investment in an Indian MFI since the turmoil in the microfinance industry in Andhra Pradesh began in late 2010.
MICROCAPITAL BRIEF: Inter-American Development Bank’s Multilateral Investment Fund Makes Local-Currency Debt Investment Worth $1.6m to Fondo Esperanza of Chile and Haitian Credit Unions Caisse Populaire Marigot, Caisse Populaire Kotelam, Caisse Populaire Fraternite
In January 2011, the Inter-American Development Bank (IDB) provided MicroCapital with data pertaining to debt and equity investments made during 2010 via the Multilateral Investment Fund (MIF) and the Social Entrepreneurship Program (SEP). The investments are covered by MicroCapital in three separate briefs.
MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $13m to Banco Continental of Paraguay, Financiera Confianza of Peru
responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it invested the equivalent of USD 13 million in two microfinance institutions (MFIs) in South America.