Absolute Portfolio Management (APM), an Austria-based microfinance investment and asset management company, has told MicroCapital that it issued the equivalent of USD 8.5 million in credit through funds it manages to microfinance institutions (MFIs) in Cambodia, Colombia, the Dominican Republic, Georgia, Indonesia and Russia during the month of February.
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MICROCAPITAL BRIEF: Mongolia’s Khan Bank Launches Drive-through ATMs, Increases Number of Correspondent Banks
Khan Bank, a Mongolian provider of microfinance and other services, recently installed three drive-through automated teller machines in the city of Ulaanbaatar.
MICROFINANCE EVENT: Association of the Luxembourg Fund Industry (ALFI), LuxFLAG Host “Responsible Investing Conference,” May 15, 2013, Luxembourg
Event Name: Responsible Investing Conference
Event Date: May 15, 2013
Event Location: Kirchberg, Luxembourg
MICROCAPITAL BRIEF: Microloans up 38%, Microdeposits Up 144% in Cambodia
According to data attributed to the Cambodia Microfinance Association (CMA), a nongovernment organization established in 2004 to promote Cambodia’s microfinance sector, the value of microloans disbursed by its 32 members increased approximately 38 percent to USD 890 million and total deposits increased 144 percent to USD 280 million from 2011 to 2012.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $3m to Arnur Credit to Support Micro- and Small Enterprises in Rural Kazakhstan
The European Bank for Reconstruction and Development (EBRD), a multilateral development finance institution headquartered in London, has agreed to provide a local-currency loan in an amount equivalent to USD 3 million to Arnur Credit, a microfinance institution (MFI) in Kazakhstan, for on-lending to micro- and small enterprises (MSEs) in rural areas of the country.
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $2m to Microfinance Institution Palestine for Credit and Development
The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative of the German development bank Kreditanstalt fur Wiederaufbau Entwicklungsbank that invests in financial institutions in the Middle East and North Africa, recently agreed to disburse a senior loan facility of USD 2 million to Palestine for Credit and Development, a microfinance institution (MFI) based in Palestine’s West Bank that is known as Faten in Arabic.
MICROCAPITAL BRIEF: Commercial Credit and Finance of Sri Lanka Issues $2m in Debentures
Commercial Credit and Finance Public Limited Company (PLC), a provider of microfinance and other services in Sri Lanka, reportedly has issued five-year debentures worth a total of LKR 250 million (USD 2 million) to raise money to expand its general and microfinance operations.
MICROCAPITAL BRIEF: Suryoday Micro Finance of India Raises $3.8m from Lok Capital, Aavishkaar, HDFC
Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), is reportedly seeking to increase its customer base by 1 million by 2014 and has raised INR 20 crores (USD 3.8 million) in capital from three of its investors: Aavishkaar Goodwell, a for-profit, Indian-Dutch joint venture; Lok Capital, a Mauritius-based microfinance investment vehicle; and the Housing Development Finance Corporation (HDFC), an India-based housing finance company.
MICROCAPTIAL BRIEF: Microfinance Network FINCA International Opens Data Processing Center in US
The Foundation for International Community Assistance (FINCA) International, a U.S.-based nonprofit microfinance network with 10,000 employees in the Americas, sub-Saharan Africa and Eurasia, reportedly has opened its “Americas’ Data Center” which will process data for the organization’s headquarters in the US city of Washington, DC, and its Latin American subsidiaries [1].
MICROCAPITAL BRIEF: Austria’s Absolute Portfolio Management Loans $11m to Microfinance Institutions Through Vision Microfinance Funds, Including $1.5m to Pro Mujer Bolivia, $1.5m to PRIDE Tanzania, $750k Renewed to FINCA Tanzania
In December 2012, Dual Return-Vision Microfinance and Dual Return-Vision Microfinance Local Currency, two funds managed by Austria-based asset management company Absolute Portfolio Management (APM), disbursed a total equivalent to USD 11.75 million in loans to microfinance institutions (MFIs) worldwide, including MFIs in Latin America and Africa.
MICROCAPITAL BRIEF: LOLC Microcredit Limited of Sri Lanka Receives $55m Syndicated Loan Funds from FMO, OPEC Fund for International Development, PROPARCO, Cordiant Capital
Lanka Orix Leasing Company (LOLC) Micro Credit Limited, the microfinance arm of Sri Lankan financial service provider LOLC, has received a five-year syndicated loan of USD 55.5 million.
MICROCAPITAL BRIEF: Maruhan Japan Bank Acquires Equity Stake in Microfinance Institution Sathapana Limited of Cambodia
Maruhan Japan Bank, a Japanese financial institution with assets of USD 123 million as of 2011, recently has completed the acquisition of a stake in Sathapana Limited, a Cambodian microfinance institution (MFI).
MICROCAPITAL BRIEF: ACLEDA Bank of Cambodia Borrows $40m From IFC Capitalization Fund
The IFC Capitalization Fund, a global equity and subordinated-debt fund founded by the International Finance Corporation (IFC) and the Japan Bank for International Cooperation, recently issued a subordinated loan in the amount of USD 40 million to ACLEDA Bank Plc, a retail bank based in Cambodia, to augment the bank’s financing of micro, small and medium-sized enterprises.
MICROCAPITAL BRIEF: Te Creemos of Mexico First Microfinance Institution (MFI) in Mexico to Issue MasterCards, Plans to Reach 250,000 New Customers Over 3 Years
MasterCard Inc, a US-based payments and technology company, has established a new business model to reach small and medium-sized enterprises (SMEs) by enabling regulated microfinance institutions (MFIs) in Mexico to become card issuers.
MICROCAPITAL BRIEF: US-based VisionFund International Reaches Loan Portfolio of $400m
VisionFund International, a US-based nonprofit subsidiary of UK-based Christian humanitarian organization World Vision, recently announced that its fund size has surpassed USD 400 million.
MICROCAPITAL BRIEF: ACLEDA Bank of Cambodia to Launch Microfinance Operations in Myanmar in January 2013
In Myanmar, which recently lifted restrictions barring wholly foreign-owned direct investments, ACLEDA Bank Public Limited Company (PLC), a Cambodian commercial bank specializing in microfinance, plans to launch microfinance operations by January 2013.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $5m to Lift Above Poverty Organization (LAPO) of Nigeria
The International Finance Corporation (IFC), an arm of the World Bank Group, recently extended a NGN 800 million (USD 5 million) loan to Nigerian microfinance institution (MFI) Lift Above Poverty Organization (LAPO).
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $453k to Opportunity Microcredit Romania
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund that mobilizes capital for microfinance institutions (MFIs), recently informed MicroCapital that it has loaned the local-currency equivalent of USD 453,000 to Opportunity Microcredit Romania (OMRO), a Romanian MFI that is a member of the US-based Opportunity International network.