by Jaclyn Berfond -

MICROCAPITAL STORY: New Microfinance Institution AccessBank Tajikistan Established with Investments Totaling USD 11 million from Access Microfinance Holding, the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and Kreditanstalt fuer Wiederaufbau (KfW)

Several international finance organizations have invested in a new microfinance institution, AccessBank Tajikistan.  Access Microfinance Holding AG (AccessHolding) will hold a majority stake in the new bank, and international investors including the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and Kreditanstalt fuer Wiederaufbau (KfW) will invest a total of USD 11 million for equity stakes.  AccessBank Tajikistan will launch operations in late 2009 in the Tajik capital, Dushanbe.

by Uyen Tran -

MICROFINANCE EVENT: Investments in Microfinance: Surviving the Liquidity Crisis & Ensuring Sustainable Growth Conference in London

Investments in Microfinance: Surviving the Liquidity Crisis & Ensuring Sustainable Growth Conference

7–9 July 2009, Grange City Hotel, London, UK

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

by Jaclyn Berfond -

MICROCAPITAL STORY: Former U.S. President Bill Clinton Announces Program for Fifth Annual Meeting of the Clinton Global Initiative (CGI) Including Focus on Investment in Microfinance and Microinsurance

The Fifth Annual Meeting of the Clinton Global Initiative (CGI) will be held September 22-25, 2009 in New York City. GGI is introducing four new Action Areas this year, including the Financing a Sustainable Future program. Under this Action Area, participants will discuss and make “Commitments to Action” on impact investing in micro, small and medium enterprises, housing in developing countries, climate adaptations, and microinsurance.

by Chinq Yee Chong -

MICROCAPITAL STORY: The Role Of Rural Microfinance In Improving Food Security – Experiences of the Agricultural Credit Corporation in Jordan

In Omar Omeidat’s report in the Jordan Times on a regional conference in Amman on agricultural banks and rural microfinance, HRH Princess Basma was reported to have highlighted the importance of funding for rural projects, particularly in view of the global economic crisis, which she said has had a negative impact on food security programmes. The Princess indicated that due to local and global economic circumstances and a shortage of water resources, the agricultural sector in Jordan faces several challenges, which have led to a drop in the sector’s contribution to the gross domestic product (GDP) and work force. Jordan’s water crisis was the focus of a recent article on the AlertNet-Reuters network, which disseminates information about humanitarian disasters and emergencies across the globe. The IRIN portal, which provides information on humanitarian affairs under the auspices of the United Nations Office for the Coordination of Humanitarian Affairs, recently reported that whilst the water and related food crisis in Jordan is not yet critical, a range of measures and projects need to be implemented as soon as possible to contain the problem.

by Sally Levy -

MICROFINANCE PAPER WRAP-UP: Are Deposits a Stable Source of Funding for Microfinance Institutions? By Julia Abakaeva and Jasmina Glisovic-Mezieres

Written by Julia Abakaeva and Jasmina Glisovic-Mezieres, published June 2009 by the Consultative Group to Assist the Poor (CGAP), 4 pages, available at: http://www.cgap.org/gm/document-1.9.34820/CGAPBrief_Deposits.pdf

by Chinq Yee Chong -

MICROCAPITAL STORY: Microfinance firms in the Philippines take to ratings

In a recent report by Paolo Luis G. Montecillo in the Business World in the Philippines, it was observed that microfinance institutions in the Philippines have started to approach international rating firms with the hope that independent ratings will attract foreign investments and improve institutional operations. The president and chairman of Rural Green Bank of Caraga, Joseph Omar O. Andaya, noted that the bank was able to obtain a million-peso loan after securing a rating from Milan-based Microfinanza Rating. In addition, the assessment by Microfinanza Rating allowed Mr. Andaya to learn about institutional strengths and weaknesses of his institution, the latter of which included high operating costs and inefficient operations. Rural Green Bank is now in discussions with Blue Orchard Microfinance Investment Managers, a Switzerland-based fund, in relation to a loan for an amount almost equivalent to a quarter of its 1.6-billion peso loan portfolio. The Green Bank was established in 1975 and has a 4-diamond rating on the MIX Market portal. It does not appear to have submitted updated information for 2008. However, latest figures on the MIX Market portal show that Green Bank has a gross loan portfolio of USD 30,524,872 and 72,742 active borrowers as at 31 December 2007. Green Bank’s key sources of funding are loans, savings and shareholder capital.

by Jaclyn Berfond -

MICROCAPITAL STORY: BlueOrchard Finance Disburses Over USD 28m to Microfinance Institutions in May

BlueOrchard Finance disbursed over USD 28 million in loans to 13 microfinance institutions (MFIs) in May.  As reported to the CGAP Microfinance Dealbook, BlueOrchard Finance loaned USD 15.5 million through the Dexia Micro-Credit Fund and USD 1 million through the BBVA Codespa Microfinance Fund. BlueOrchard is also an advisor to the Microfinance Enhancement Facility, launched by the International Finance Corporation and KfW Entwicklungsbank, which disbursed its first four loans totaling USD 12 million.

by Zoran Stanisljevic -

MICROCAPITAL STORY: Co-Operative Bank and Deutsche Bank to Launch a USD 50 Million Microfinance Fund to Directly Target Credit Unions and Co-operatives

Co-Operative Bank and Deutsche Bank (DB) have recently announced the launch of a USD 50 million microfinance fund to target credit unions and co-operatives directly.  The “Global Co-operative Development Fund” (GCDF) is expected to launch this month and will be open to investors in the fourth quarter 2009.  The fund aims to provide capital to the poorest communities with a geographical target of Central Europe, Asia, and Latin and Central America.  The GCDF will be managed by Deutsche Bank and sub-managed by Oikocredit.  The Co-operative Bank will be principal sponsor for the GCDF.  No additional information regarding how the fund will function is provided.

by Jaclyn Berfond -

MICROCAPITAL STORY: Pioneer in Microfinance Investing, Triodos Bank, Wins 2009 Sustainable Banking Award by Financial Times (FT) and International Finance Corporation (IFC); MicroEnsure and Root Capital Also Take Prizes

The Financial Times (FT) and the International Finance Corporation (IFC) announced the winners of the 2009 Sustainable Banking Awards. Triodos Bank of the Netherlands was named Sustainable Bank of the Year. Other microfinance programs were recognized, with MicroEnsure winning the award for Achievement in Basic Needs Financing, and Root Capital taking the Achievement in Banking at the Bottom of the Pyramid award.

by Sally Levy -

MICROCAPITAL STORY: SEEDFINANCE Corporation of the Philippines receives $1m Microfinance Investment Loan from MicroVest I during May 2009

SEEDFINANCE Corporation, a microfinance lender headquartered in Manila, the Philippines, received a USD 1 million loan from MicroVest I (MVI) in May 2009.  SEEDFINANCE provides wholesale financing to Filipino microfinance institutions (MFIs) and loans to small enterprises. MicroVest is an investment firm which raises funds to invest in MFIs in emerging markets. This is its first loan to SEEDFINANCE and in the Philippines. This deal was reported to the Consultative Group to Assist the Poor (CGAP) Microfinance Dealbook, a monthly report on microfinance capital market transactions.  

by Sally Levy -

MICROFINANCE EVENT: World Council of Credit Unions (WOCCU) Annual Conference, Barcelona, July 26-29, 2009

Event Name: World Credit Union Conference, Barcelona 09

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Cost: Members USD 1,195; Non Members USD 1,395. A 7% VAT tax will be added at the time of registration. A discount of USD 100 is available for Developing Movement Countries, Under 35 Scholarships and Regulators.  The conference fee includes the opening ceremony, welcome reception, general sessions, breakout session, closing night, 5 lunches and 1 dinner.

Summary of Event: This is an annual conference where key players throughout the global credit union community gather to network and discuss best practices. Session topics will cover almost every aspect of credit union operations and culture.  

by Zoran Stanisljevic -

MICROFINANCE EVENT: Financial Research Associates, LLC to host Microfinance: The Investment Opportunity for Pensions, Endowments, Foundations & Social Investors Summit on July 13-14, 2009 in Washington, D.C

Microfinance: The Investment Opportunity for Pensions, Endowments, Foundations & Social Investors, July 13-14, 2009, at Washington, D.C., presented by Financial Research Associates, LLC. 

July 13-14, 2009, at Washington, D.C.

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events