Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently informed MicroCapital that it issued loans equivalent to approximately USD 19 million during November 2013 through the Dual Return Funds it manages to microfinance institutions in Armenia, Bosnia and Herzegovina, Cambodia, Costa Rica, Ecuador, Georgia, India, Kazakhstan and Mongolia [1].
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MICROFINANCE PUBLICATION ROUND-UP: ANDE 2012 Impact Report; Microfinance Performance Evaluation; Status of Microfinance in Karnataka, India
“ANDE 2012 Impact Report”; The Aspen Institute; 2013; 39 pages; available at http://www.aspeninstitute.org/publications/ande-2012-impact-report
This document covers aspects of small and growing businesses including the barriers women business owners face in the marketplace.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Government of Canada to Loan $85m to Dewan Housing Finance of India for “Green” Mortgages
The International Finance Corporation (IFC), a member of the US-based World Bank, and the government of Canada have partnered to loan USD 85 million to Dewan Housing Finance Corporation of India, a for-profit housing finance company, to finance “green” mortgages under the joint IFC-Canada Climate Change Program.
MICROCAPITAL BRIEF: Wholesale Microfinance Lender Ananya Finance for Inclusive Growth (Ananya) of India Raises Equity Capital of $2.86m from Women’s World Banking, Industrial Development Bank of India
Ananya Finance for Inclusive Growth Private Limited (Ananya), a non-banking financial company (NBFC) in India, has raised INR 180 million (USD 2.86 million) in equity capital from the Isis Fund of Women’s World Banking (WWB), a US-based network of 39 microfinance institutions (MFIs), and Industrial Development Bank of India (IDBI), an Indian public-sector bank [1].
MICROCAPITAL BRIEF: Micro Pension Foundation, Invest India Micro Pension Services, Visa Partner to Promote Savings by Low-Income Households in India
Micro Pension Foundation, an Indian nonprofit that helps low-income households gain access to microsavings products, and Visa Incorporated, a US-based payments technology company, reportedly are partnering to establish the “Micro Pension Financial Inclusion Lab” [1].
MICROCAPITAL EVENT: Access Development Services Hosts Microfinance India Summit 2013, December 9-10; Livelihoods India Conference 2013 December 11-12, 2013
Event Name: Microfinance India Summit 2013, Livelihoods India Conference
Event Date: December 9-10, December 11-12
Event Location: New Delhi, India
MICROCAPITAL BRIEF: SKS Microfinance of India Completes $50m Securitization
SKS Microfinance, an Indian microfinance institution (MFI), recently completed a securitization deal worth INR 3.21 billion (USD 50 million), selling microloan receivables to an undisclosed public-sector bank [1].
MICROCAPITAL BRIEF: Aavishkaar Goodwell Invests $6m in Electronic Payment Services (EPS); 4,500 ATMs Planned for Rural India
Aavishkaar Goodwell, an Indian-Dutch joint venture that invests in development projects, reportedly has invested an additional INR 360 million (USD 6 million) in Electronic Payment Services (EPS), an India-based company that provides electronic payment systems to merchants in Asia.
MICROCAPITAL BRIEF: Aavishkaar Goodwell, Asia Pragati Invest $3.4m in Swarna Pragati Housing Microfinance in India
Aavishkaar Goodwell, an Indian-Dutch joint venture that invests in development projects, and Asia Pragati, an India-based non-banking financial company (NBFC) owned by Hong Kong-based Pacific Alliance Group (PAG), reportedly have invested a total of INR 210 million (USD 3.4 million) in Swarna Pragati Housing Microfinance, an Indian microfinance institution (MFI) that partners with local MFIs to provide housing loans in the country [1].
MICROCAPITAL BRIEF: Micro Housing Finance Corporation (MHFC) Raises $5.6m in Equity from Michael and Susan Dell Foundation, India Financial Inclusion Fund, Unilazer Ventures
The Micro Housing Finance Corporation (MHFC), an India-based finance company that provides housing loans of up to INR 500,000 (USD 8,040), recently announced that it has raised INR 35 million (USD 5.62 million) in equity.
MICROCAPITAL BRIEF: Former JP Morgan Asset Management Chairman Unveils $40m Impact Investment Fund, Charioteer-Fund I, to Support Skill Development, Microenterprises in India
Krishnamurthy Vijayan, the former executive chairman of JP Morgan Asset Management India, a Mumbai-based subsidiary of international investment and commercial bank JP Morgan Chase, reportedly has created Charioteer Fund-I, an INR 2.5 billion (USD 40 million) impact investment fund that will seek to place with investments in 25 ventures.
MICROCAPITAL BRIEF: Indian Government Seeks Parliamentary Approval for $859m in Spending for Women’s Bank; Women’s Safety; Skills Training; Micro-, Small and Medium-Sized Enterprises (MSMEs); International Monetary Fund (IMF)
The Indian government reportedly is awaiting the Parliament’s approval to spend an additional INR 54.3 billion (USD 859 million) for several institutions including an additional INR 10 billion (USD 159 million) for each of the following: Nirbhaya Fund, a fund supporting women’s safety in India; National Skill Development Corporation (NSDC), which is backed by the Indian Ministry of Finance and provides skill training programs to India’s workforce; and to establish a women’s bank in India.
MICROCAPITAL BRIEF: Indian SKS Trust Advisors Buys 2.7% of SKS Microfinance for $2m, Increasing Stake to 12.6%
SKS Trust Advisors Private Limited, the India-based trustee of five mutual benefit trusts benefiting groups who borrow from SKS Microfinance Limited, reportedly has purchased an additional 2.69 percent of the shares of SKS Microfinance, increasing its stake in the firm to 12.6 percent.
MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $11m to India’s Equitas Microfinance, Satin Credit Care
Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it disbursed loans of INR 450 million (USD 7.2 million) to Equitas Microfinance, a microfinance institution in Chennai, India, and INR 350 million (5.5 million) Satin Credit Care, a microfinance institution in Delhi, India, during August 2013. The purpose of both loans is to support on-lending to microentrepreneurs. It is estimated that 30,000 microenterprises will receive financing as a result of these two wholesale loans. Standard Chartered Bank has been associated with Equitas since 2012 and Satin since 2006. Further information on the loans has not been released.
MICROCAPITAL BRIEF: World Bank Group, National Housing Bank, Government of India Sign $100m Agreement for Low-Income Housing Finance Project
The World Bank Group, a US-based international financial institution; the National Housing Bank (NHB), an Indian bank and regulatory authority; and the government of India recently signed a USD 100 million credit agreement for a Low-Income Housing Finance Project, which will aim to improve accessibility to housing loans for low-income households in India to purchase, build or renovate homes.
MICROCAPITAL BRIEF: Private Equity Funds to Buy Stake in Janalakshmi Financial Services of India for $50.9m
Several private equity (PE) funds reportedly have taken stakes totaling INR 325 crore (USD 50.9 million) in Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI) that focuses on disbursing loans to clients in urban areas.
MICROCAPITAL BRIEF: IndiaFirst Life Insurance to Offer Pension Products and Microinsurance
IndiaFirst Life Insurance Company Limited, a joint venture backed by two public-sector Indian banks and the local arm of the UK-based Legal and General Group, reportedly has announced plans to start offering pension products and microinsurance during the financial year 2013-14 following the release of the updates to the Insurance Regulatory and Development Authority (IRDA) guidelines on microinsurance, according to a statement attributed to the IndiaFirst Managing Director and Chief Executive Officer P. Nandagopal [1].
MICROCAPITAL BRIEF: Applications Open for Citi Foundation’s Indian Micro Enterprise Awards 2013
Citi Foundation, the charitable arm of US-based financial services provider Citigroup that provides grants for small and growing businesses, in partnership with Access Development Services, an Indian nonprofit consultant to microfinance institutions (MFIs), has opened applications for the 10th annual Citi Micro Enterprise Awards, which aim to recognize and honor microenterprises in India that have generated employment and reduced poverty in their communities [1].