Fundacion Microfinanzas BBVA, a nonprofit business created in 2007 as a subsidiary of multinational bank BBVA of Spain, has announced the acquisition of Financiera Confianza, a microfinance institution (MFI) in Peru.
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MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) and Inter-American Development Bank’s Multilateral Investment Fund Release “2010 Microfinance Americas: The Top 100”
The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, in partnership with the Multilateral Investment Fund, an investment fund administered by the Inter-American Development Bank (IDB), have recently published the “2010 Microfinance Americas: The Top 100”.
MICROCAPITAL BRIEF: United States Nonprofit Global Partnerships Closes Social Investment Fund 2010, Will Invest $20m in Latin American Microfinance Institutions Over Five Years
Global Partnerships, a US-based nonprofit organization that supports microfinance institutions (MFIs) in Latin America, recently announced that it has closed Social Investment Fund 2010 (SIF 2010), its fourth social investment fund, at USD 20 million.
MICROCAPITAL BRIEF: The Economist Intelligence Unit “Microscope” Study Discusses Challenges to The Rapidly Growing Microfinance Industry
A study from The Economist Intelligence Unit, publisher of The Economist magazine reports that microfinance is increasingly gaining global recognition as a viable business model, whereby technology in particular is allowing for growth in lending and other financial services for the world’s low-income microentrepreneurs.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) Study: Microfinance Lending in Latin America and the Caribbean Increased by 13 Percent in 2009
According to a survey conducted by the Multilateral Investment Fund (MIF), an investment fund administered by the Inter-American Development Bank (IDB), loan portfolios of microfinance institutions (MFIs) in Latin America and the Caribbean rose by 13 percent in 2009.
MICROCAPITAL BRIEF: Indian Microfinance Institution Sanchetna Financial Services Lowers Interest Rate on Samridhi Loan Product from 15% to 12.5% with a 45-Week Term
Sanchetna Financial Services, a Lucknow-based microfinance institution, recently announced that it will lower interest rates on its flagship loan product, Samridhi, from a flat interest rate of 15 percent over 46 weeks to 12.5 percent over 45 weeks.
MICROCAPITAL BRIEF: Microfinance India 2010 Awards to be Presented at The Microfinance India Summit, November 15, 2010
Access Development Services, an Indian nonprofit organization that offers consulting services to microfinance institutions (MFIs), and Hongkong and Shanghai Banking Corporation (HSBC) Limited, an international banking group, will present the Microfinance India Awards 2010 at the Microfinance India Summit on November 15, 2010.
MICROCAPITAL BRIEF: India’s Bandhan Microfinance Institution Seeking $21m Investment from Private Investor
Bandhan, an Indian microfinance institution, recently announced it is seeking INR 1 billion (USD 21 million) in investment capital from private investors.
MICROCAPITAL BRIEF: BlueOrchard Finance Opens Office in Cambodia, Announces Plans to Triple Microfinance Investments in Asia
BlueOrchard Finance SA, a commercial microfinance intermediary operating as a subsidiary of Geneva-based BlueOrchard, recently announced its intention to triple its microfinance investments in Asia.
MICROCAPITAL BRIEF: Clinton Bush Haiti Fund (CBHF) Announces $1m in New Grants to Promote Economic Opportunities Including Microfinance
The Clinton Bush Haiti Fund (CBHF), a nonprofit organization created by former US presidents Bill Clinton and George W. Bush to rebuild Haiti following the January 12 earthquake, has announced USD 1 million in new grants aimed at creating new jobs and promoting economic opportunity, including microfinance. An unspecified proportion of the grant will be used to finance the Haiti Emergency Liquidity Program (HELP), which will give recovery grants to “key” microfinance institutions (MFIs), which are defined as those having approximately 50,000 clients or more.
MICROCAPITAL BRIEF: World Bank Executes $407m in Loans for Microfinance Initiatives in India
Officials of the World Bank, a member of the World Bank Group, and the government of India recently signed two loan agreements totaling INR 19 billion (USD 407 million) for the development of microfinance initiatives in India, including a statistical information system in India.
MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Sanchetna Financial Services Receives $320,000 from Oikocredit’s Maanaveeya Holdings and Investments, Ananya Finance for Inclusive Growth and Trust MicroFin Network (TMN)
In its July 2010 newsletter, the Indian microfinance institution (MFI) Sanchetna Financial Services reported that it will be receiving a loan of INR 10 million (USD 211,000) from Maanaveeya Holdings and Investments, the Indian subsidiary of the Dutch cooperative investment fund Oikocredit. In addition, Sanchetna will receive INR 3 million (USD 64,000) from the microfinance investment vehicle (MIV), Ananya Finance for Inclusive Growth, and INR 2 million (USD 43,000) from the nonprofit trust, Trust MicroFin Network (TMN).
MICROFINANCE EVENT: XIII FOROMIC 2010: Inter-American Forum on Microenterprise, October 6 to 8, 2010, Montevideo, Uruguay, Sponsored by the Multilateral Investment Fund, Organized by the Inter-American Development Bank
Event Name: XIII FOROMIC 2010: Inter-American Forum on Microenterprise
Event Date: October 6 to 8, 2010
Event Location: Montevideo, Uruguay
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL BRIEF: Microinsurance Network Technology Working Group to Launch Online Microinsurance Technology Inventory
The Microinsurance Network Technology Working Group, a branch of the Microinsurance Network that focuses on technology as a means of increasing access to insurance in developing countries, is launching an online microinsurance technology inventory.
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Provides $3m Grant to Small Industries Development Bank of India for Women Who Have Outgrown Microfinance, Are Caught in the “Missing Middle”
The Asian Development Bank (ADB), a regional development bank headquartered in Manila, the Philippines, which in 2007 approved USD 10.1 billion in loans [1], is providing a USD 3 million grant to the Small Industries Development Bank of India (SIDBI) to offer services to female entrepreneurs in India. The grant will target women who have “outgrown traditional microfinance support, but who are unable to access more conventional bank financing – the so called ‘missing middle’ group of the small enterprise sector” [3].
MICROCAPITAL BRIEF: Bandhan Financial Services Private Limited, Microfinance Institution (MFI) Based in Kolkata, India, Decreases Interest Rate on Loans from 24 Percent to 19.1 Percent on a Reducing Balance
Bandhan Financial Services Private Limited, a microfinance institution (MFI) based in Kolkata, India, has decreased its annual interest rate on loans from 24 percent to 19.1 percent on a reducing balance.
MICROCAPITAL BRIEF: International Investors Launch Microfinance Growth Fund (MIGRoF), a Lending Facility for Microfinance Institutions (MFIs) in Latin America and the Caribbean
The Inter-American Development Bank’s (IDB’s) Multilateral Investment Fund (MIF), a fund that finances micro- and small enterprises (MSEs); the Inter-American Investment Corporation (IIC), a member of the IDB that helps small and medium-sized enterprises (SMEs) gain access to finance; and the Corporación Andina de Fomento (CAF), an institution that mobilizes financial resources in Latin America, recently launched the Microfinance Growth Fund (MIGRoF), a facility expected to provide the equivalent of USD 250 million in medium- and long-term loans to microfinance institutions (MFIs) in Latin America and the Caribbean.
MICROCAPITAL BRIEF: Newsweek Article Examines Importance of Microfinance Institutions (MFIs) in Post-Disaster Environments
A recent article in US-based Newsweek magazine entitled ‘Big Crisis, Small Help’ examines the importance of microfinance institutions (MFIs) in mitigating crises in post-disaster environments.