The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued its first loan in Burkina Faso to Groupe d’Accompagnement à l’Investissement et à l’Epargne (GRAINE), a microfinance institution (MFI) that serves 40,000 women primarily in remote areas.
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MICROCAPITAL BRIEF: VisionFund International Releases Three-Year Plan to Improve Lives of 3.5m Children
VisionFund International, a UK-based nonprofit organization that manages the microfinance institutions (MFIs) of the US-based nonprofit relief organization World Vision International, has announced a three-year strategy to increase the number of lives it impacts from 2.2 million annually to 3.5 million annually by 2015.
MICROCAPITAL BRIEF: Lok Capital to Exit Indian Microfinance Institution Janalakshmi
Lok Capital, a Mauritius-based microfinance investment vehicle, has reportedly announced plans to sell its stake in Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI).
MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Certifies Fonds Européen de Financement Solidaire (FEFISOL) with “Microfinance Label”
Fonds Européen de Financement Solidaire (FEFISOL), a for-profit investment fund registered in Luxembourg, has obtained the “Microfinance Label” from the Luxembourg Fund Labeling Agency (LuxFLAG), a microfinance investment vehicle (MIV) certification organization.
MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Certifies Access Africa Fund with “Microfinance Label”
Access Africa Fund, a for-profit limited liability company, has become the first US-based microfinance investment vehicle (MIV) to obtain the “Microfinance Label” from the Luxembourg Fund Labeling Agency (LuxFLAG), an MIV certification organization.
MICROCAPITAL BRIEF: Constanta Bank of Georgia Grows Microfinance Assets by 77%, Plans to Open 15 Branches in 2012
During 2011, Constanta Bank, a provider of microfinance services to micro- and small businesses in Georgia, witnessed a 77-percent growth in assets, a 71-percent growth in its credit portfolio and an 89-percent growth in the amount of loans issued relative to the previous year [1].
MICROCAPITAL BRIEF: Lok Capital, Proparco Invest $5m in Equity in India’s IFMR Rural Channels and Services
Lok Capital LLC, a Mauritius-based microfinance investment vehicle, and its Proparco, a French development finance institution, have recently invested INR 260 million (USD 5 million) in equity in the Institute for Financial Management and Research (IFMR) Rural Channels and Services, a company of IFMR Trust that provides financial services in rural India.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $10m to NBD Bank of Russia to Support Small Businesses
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has provided a five-year loan of RUB 300 million (USD 10 million) to Russia-based NBD Bank to support small businesses in small company towns in central Russia.
MICROCAPITAL BRIEF: Microinsurance Reaches 3m in the Philippines, More Expansion Predicted in Microcredit as Commercial Banks Enter Microfinance
According to a report attributed to the Insurance Commission of the Philippines, a government body regulating the country’s insurance industry, the microinsurance program launched in 2010 has contributed to 3.1 million Filipinos having acquired insurance coverage.
MICROCAPITAL BRIEF: Report: “Bosnia’s Microfinance Meltdown” Attributed to Accounting Control Fraud by Microfinance Institution (MFI) Managers
In a recent story on New Economic Perspectives, a website offering policy advice and economic analysis, William K Black comments on David Roodman’s article in the Washington Post, “Microcredit doesn’t end poverty, despite all the hype,” which was published on March 11, 2012.
MICROCAPITAL BRIEF: CARE, Orange, Equity Bank Partnering to Bring Mobile Banking Services to Savings Groups in Kenya
CARE International, a Swiss NGO aiming to reduce global poverty; Kenya’s Equity Bank; and French telecommunications operator Orange are launching a partnership to provide savings groups with banking services using mobile phones.
MICROFINANCE PUBLICATION ROUND-UP: Peru as a Model for Microfinance Regulation; M-Pesa Mobile Banking E-book; and Geographic Analysis of Thai Enterprise
“Research Insight: Peru – Model Market for Microfinance;” by Christian Etzensperger; published by responsAbility Social Investments; March 2012; 9 pages; available at: www.responsability.com/domains/responsability_ch/data/free_docs/Research_Insight_Acces_to_Finance_in_Peru_EN.pdf
MICROCAPITAL BRIEF: Reports of Overheating in Microfinance Sector in Kyrgyzstan
The Kyrgyz National Bank, the central bank of Kyrgyzstan, reportedly has stated that the microfinance sector in the country is overheating.
MICROCAPITAL BRIEF: Cameroon Cooperative Credit Union League (CamCCUL) to Launch $2m Project Funded by the World Bank’s Agricultural Finance Support Facility (Agrifin)
The Agriculture Finance Support Facility (Agrifin), a US-based program of the World Bank, is co-funding a USD 2 million project of the Cameroon Cooperative Credit Union League (CamCCUL), a microfinance institution (MFI) and network of 208 credit unions, that is intended to improve the volume and profitability of agribusiness lending of its members.
MICROCAPITAL BRIEF: Azerbaijan Microfinance Association Mulling Agricultural Credit Guarantee Fund
The Azerbaijan Microfinance Association, an organization with approximately 31 microfinance institution members, is considering the introduction of an agricultural guarantee fund, which would guarantee up to 80 percent of an entrepreneur’s loan.
MICROCAPITAL BRIEF: People’s Bank of China, PlaNet Finance Research Project Aims to Upgrade Microfinance Risk Management
The People’s Bank of China, the central bank of the People’s Republic of China, and PlaNet Finance, a France-based nongovernmental organization, plan to carry out a study on “Expanding the Short and Medium Term Notes Market to Microcredit Companies in China.”
MICROCAPITAL BRIEF: People’s Bank of China, PlaNet Finance Research Project Aims to Upgrade Microfinance Risk Management
The People’s Bank of China, the central bank of the People’s Republic of China, and PlaNet Finance, a France-based nongovernmental organization, plan to carry out a study on “Expanding the Short and Medium Term Notes Market to Microcredit Companies in China.”
MICROCAPITAL BRIEF: Ghana Shea Value Chain Initiative Employs 3,500 Women; Aims to Reach 5,000, Build Processing Factory
PlaNet Finance, a nongovernmental organization based in France, recently announced that its shea butter project in northern Ghana has employed 3,500 women to date and is expected to employ 1,500 more in the next year [1].