The UK-based European Bank for Reconstruction and Development (EBRD) will loan the local-currency equivalent of USD 10 million to KazMicroFinance (KMF), a Kazakhstan non-banking financial institution, in an effort to increase access to credit for micro-, small and medium-sized enterprises in rural areas of the country [1].
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MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $13m from Dual Return Funds to Microfinance Institutions (MFIs) in South America, Eurasia Including FINCA Armenia
Absolute Portfolio Management (APM), an Austria-based firm that invests in microfinance and other sectors, recently notified MicroCapital that it loaned the equivalent of USD 13 million during April 2013 through two of the funds that it manages to microfinance institutions (MFIs) in Armenia, Azerbaijan, Ecuador, Honduras, Kyrgyzstan, Mongolia, Peru, the Philippines, Russia and Tajikistan. Of this amount, USD 7.5 million was issued in local currency.
MICROCAPITAL BRIEF: Caja Rural de Ahorro y Credito (CRAC) Nuestra Gente of Peru Now Controlled by Fundacion Microfinannzas BBVA, to be Merged into Financiera Confianza
The Peruvian Superintendency of Banking, Insurance and Pension Fund Administrators (known as SBS in Spanish) recently approved the merger of two Peruvian microfinance institutions (MFIs) via the absorption of Caja Rural de Ahorro y Credito (CRAC) Nuestra Gente by Financiera Confianza.
MICROCAPITAL BRIEF: DemirBank of Azerbaijan Offers Automated Teller Machine Repayment Option
DemirBank, an Azerbaijani commercial bank that lends to small and medium-sized enterprises, recently announced that customers have the opportunity to repay loans at automated teller machines (ATMs) with their bank cards.
MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Accepting Microfinance Label Applications Through May 7, Issues Environment Label to BNP Paribas L1 Equity World Aqua
The Luxembourg Fund Labeling Agency (LuxFLAG), a nonprofit organization that investigates whether investment vehicles actually support the microfinance and environment sectors, is accepting applications from microfinance investment vehicles (MIVs) for its annual Microfinance Label until May 7, 2013.
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Institution Tiers, Microfinance in East Africa, Weather Risk Management
“Microfinance Institution Tier Definitions;” published by MicroRate; April 2013; 2 pages; available at http://www.microrate.com/media/downloads/2013/04/MicroRate-White-paper-Microfinance-Institution-Tier-Definitions.pdf
This report proposes a “tier system that defines microfinance institution [MFI] peer groups by institutional maturity to provide a foundation for industry analysis and informed dialogue.”
MICROCAPITAL BRIEF: Indian Microfinance Institution Satin Creditcare Sells 20% Equity Stake for $8m from Danish Microfinance Partners, MicroVest II, ShoreCap II; Lok Capital Exits
Indian microfinance institution (MFI) Satin Creditcare Network Limited recently raised INR 410 million (USD 7.5 million) by selling a stake of approximately 20 percent to three microfinance investment funds in undisclosed portions: Danish Microfinance Partners K/S (DMP), MicroVest II LP and ShoreCap II Limited.
MICROCAPITAL BRIEF: ACLEDA Begins Microfinance Operations in Myanmar
ACLEDA Bank, a Cambodia-based microfinance institution (MFI), has reportedly launched a new microfinance operation in Myanmar under the name of ACLEDA MFI Myanmar.
MICROCAPITAL BRIEF: Indian Institute of Management at Ahmedabad (IIMA) Report Indicates Bandhan Clients Increased Wealth
The Indian Institute of Management, Ahmedabad (IIMA), a public business school located in the Indian state of Gujurat, recently released a report detailing the results of its impact study on Bandhan Financial Services Private Limited, an Indian microfinance institution.
MICROCAPITAL BRIEF: Microsoft Donates $2.3m in Software Licenses to Pro Mujer for Computer Training
Microsoft, a US-based software company, has donated software licenses worth a total of USD 2.3 million to Pro Mujer, a US-based nonprofit that provides healthcare, training and financial services to women in Latin America.
MICROCAPITAL BRIEF: Ears Earth Environment Monitoring of the Netherlands Offers Climate-based Crop Microinsurance System FESA Free to Microinsurance Retailers in Africa
Ears Earth Environment Monitoring Limited, a subsidiary of the Netherlands-based remote sensing company Ears Holding, is offering its Food Early Solutions for Africa (FESA) microinsurance system free of charge to microinsurance providers.
MICROCAPITAL BRIEF: ProCredit Bank Armenia Launches Visa Business Card
ProCredit Bank Armenia, a microfinance institution (MFI) and member of Germany’s ProCredit Holding, recently launched its Visa Business Card, which is supported by the 170-country network of US-based payment services firm Visa.
MICROCAPITAL BRIEF: Crowdfunding Platform Pi Slice Launches in Dubai to Support Microentrepreneurs in the Middle East
Pi Slice, a start-up crowdfunding platform based in Dubai, reportedly plans to link poor entrepreneurs in the Middle East to microloans raised via social media.
MICROCAPITAL BRIEF: Mongolia’s Khan Bank Announces E-Banking Outreach Campaign
Khan Bank, a Mongolian provider of microfinance and other services, recently launched its “Welcome to the E-Banking World” campaign to provide information about E-banking services, such as payment services available via the internet and mobile phones.
MICROCAPITAL BRIEF: ProCredit Bank Ukraine Opens New Branch in Kharkiv
ProCredit Bank Ukraine, a microfinance institution (MFI) and member of Germany’s ProCredit Holding, recently opened a new branch in the city of Kharkiv.
MICROCAPITAL BRIEF: Grameen Koota of India Receives $9.8m in Equity from Incofin, MicroVentures, Aavishkaar Goodwell, Creation Investments; $4m in Debt Funding from Deutsche Bank Microfinance Fund
Indian non-banking financial company (NBFC) Grameen Financial Services Private Limited, also known as Grameen Koota, recently received INR 532 million (USD 9.8 million) in its third round equity funding from Beligium-based investment company Incofin, Italy-based private equity firm MicroVentures, Indian-Dutch joint venture Aavishkaar Goodwell, and US-based for-profit company Creation Investments.
MICROCAPITAL BRIEF: Mobile Banking Technology, ATMs “An Emerging Trend” Among Microfinance Institutions (MFIs) in Cambodia
As competition in the microfinance industry of Cambodia increases, microfinance institutions (MFIs) are investing in technological upgrades to keep up with the market.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $974k to Araratbank of Armenia
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle launched by German development bank KfW Entwicklungsbank, has informed MicroCapital that it recently disbursed an AMD 400 million (USD 974,000) loan to open joint stock corporation Araratbank of Armenia, a bank that primarily provides financial services to micro-, small and medium-sized enterprises (MSMEs) in the country.