by Christopher Maggio -

MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution Based in Azerbaijan, Submits Pricing Data to MFTransparency, Provider of Pricing Data for the Microfinance Industry

AccessBank, a microfinance institution (MFI) based in Azerbaijan, recently submitted pricing data for its loan products to MFTransparency, an organization that provides pricing data for the microfinance industry.

by Stefanie Rubin -

MICROCAPITAL BRIEF: ESPA VINIS Microfinance Fund of Austria Invests in European Fund for Southeast Europe (EFSE)

ESPA VINIS Microfinance Fund is the newest private investor in the European Fund for Southeast Europe (EFSE), a EUR 715 million (USD 1 billion) investment fund that focuses on economic development.

by Kenny Kline -

MICROCAPITAL STORY: EFSE Invests USD 10 million Into PJSC MEGABANK of Ukraine

The European Fund for Southeast Europe (EFSE) and PJSC MEGABANK, a Ukrainian commercial bank, signed a loan agreement of USD 10 million.  This long-term subordinated loan is intended to allow PJSC to enlarge its capacity to provide access to finance for micro and small enterprises.  This is EFSE’s first investment in the Ukrainian market.[3]

by Christopher Maggio -

MICROFINANCE EVENT: Azerbaijan Microfinance Association Investors Fair in Baku, Azerbaijan, October 7, 2009

Microfinance Event: Azerbaijan Microfinance Association Investors Fair in Baku, Azerbaijan, October 7, 2009

Event Name: Azerbaijan Microfinance Association Investors Fair

Location: Baku, Azerbaijan

Date: October 7, 2009

Event Description: The conference will focus on MFI governance strategy, financial risk management, client protection, opportunities to learn about innovative products, and a chance to access capital investors [1].

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Cost: AMFA Members: AZN 200 (USD 248)
non-AMFA Members: AZN 250 (USD 310)
International: USD 200

Summary of Event: The day will start with remarks from members of the Azerbaijan Microfinance Association, the Azerbaijani government, and business representatives. There will then be three panels on governance, risk, and client protection, respectively. Lastly, the Investors Fair will be a roundtable to discuss critical microfinance issues [2].

by Bharathi Ram -

MICROCAPITAL EVENT: VIII National Conference: The Role of Microfinance in Overcoming the Financial and Economic Crisis, November 17-19, 2009 in Moscow, Organized by the Russian Microfinance Center (RMC)

Event Name: VIII National Conference: The Role of Microfinance in Overcoming the Financial and Economic Crisis

Event Date: November 17-19, 2009

Event Location: Moscow

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

by Bharathi Ram -

MICROCAPITAL STORY: International Finance Corporation (IFC) to Invest USD 5 million in FM Bank, Poland’s First Microfinance Bank

The International Finance Corporation (IFC), the private sector lending arm of the World Bank has announced an investment of USD 5 million in FM Bank, a new microfinance bank based in Poland [1]. The investment would help the bank ‘to support the [Polish] microfinance sector and improve access to finance for micro and small businesses’. FM Bank, a spin-off from the operations of the Polish microfinance institution Fundusz Mikro, only recently received a commercial banking license and is reportedly the first microfinance bank in the country [1].

by Bharathi Ram -

MICROCAPITAL STORY: FMO opens USD 5m Credit Line to the Belarusian Bank for Small Business (BBSB) to develop BBSB’s Micro-Lending Program

The Netherlands Development Finance Company (FMO) has opened a USD 5 million credit line to the Belarusian Bank for Small Business (BBSB) to primarily help develop the bank’s micro-lending program for small and medium-sized business. The loan is also expected to help in the acquisition of necessary instruments for the bank’s infrastructure development [1]. According to a news report published in the Belarusian news and information agency BelTA, the agreement to open a credit line was signed in Minsk and the line is open for five years with a two year delay in payment. No further information on the credit facility is currently available.

by Uyen Tran -

MICROFINANCE EVENT: Women in Microfinance Career Panel, July 23, 2009 in New York, NY, Organized by WAM-NY

MICROFINANCE EVENT: Women in Microfinance Career Panel, July 23, 2009 in New York, NY, Organized by WAM-NY

Event Name: Women in Microfinance Career Panel

Date: July 23, 2009

Location: The Carlton Hotel on Madison Avenue, New York, NY

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

by Jaclyn Berfond -

MICROCAPITAL STORY: European Fund for Southeast Europe (EFSE) Provides EUR 20m Loan to Serbia’s Komercijalna Banka

The European Fund for Southeast Europe (EFSE) has announced a EUR 20 million loan to Komercijalna Banka to further expand its outreach to micro and small enterprises (MSEs) in Serbia. The loan brings EFSE’s total investment portfolio in Southeast Europe to EUR 551 million.

by Jaclyn Berfond -

MICROCAPITAL STORY: European Development Finance Institutions Part 3: The Netherlands Development Finance Company (FMO) Invests Over USD 160 million in Microfinance in Last Two Years

The Netherlands Development Finance Company (FMO), founded by the Dutch government in 1970 to support the private sector in developing countries, invests in microfinance as a way to stimulate sustainable economic growth. Between January 2007 and March 2009, FMO has invested at least USD 160 million in microfinance services around the world.

by Jaclyn Berfond -

MICROCAPITAL STORY: European Development Finance Institutions Part 2: KfW Entwicklungsbank Remains One of the Largest Global Investors in Microfinance

KfW Entwicklungsbank (KfW), a development bank that finances investments on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), has made significant contributions to the microfinance sector in recent years. Between January 2007 and April 2009, KfW has invested at least USD 250 million in microfinance services around the world, with its outstanding commitments to the sector likely making that number even higher.

by Goda Thangada -

MICROCAPITAL STORY: Oikocredit Loans $2.3m to Microfinance Institutions Kitunda SACCO, Intellekt, FMFB Tajikistan, and PMRCA Perelik

For the month of April, the Netherlands-based Oikocredit Ecumenical Development Cooperative Society, a microfinance funding source, reported four loans to the CGAP Microfinance Dealbook, a monthly report on microfinance capital market transactions. Oikocredit granted a one-year USD 75,000 loan to the Kitunda SACCO in Tanzania, a four-year loan of USD 91,000 to Intellekt of Russia, a three-year loan of USD 2 million to the First Microfinance Bank of Tajikistan (FMFB), and a three-year USD 132,000 loan to PMRCA Perelik in Bulgaria. Oikocredit provides loans to about 500 microfinance institutions in 70 countries around the world. Between January and March 2009, Oikocredit provided USD 19.2 million in new loans in 69 countries. The organization currently funds 758 projects of which 501 are microfinance projects, the rest involving other types of social service. Through microfinance alone, Oikocredit claims to reach 16.8 million people. Oikocredit distributes its funding as follows: 40 percent in Latin America, 14 percent in Africa, 27 percent in Asia, 18 percent in Central and Eastern Europe, and 1 percent elsewhere. In November, MicroCapital reported that USAID and Oikocredit would partner together to contribute USD 36.2 million to microfinance institutions (MFIs) over the next ten years.

by Laura Anderson -

MICROCAPTIAL STORY: Fitch Ratings Confirms Long Term Rating of BB+ for AccessBank in Azerbaijan

Fitch Ratings has confirmed the long-term issuer default rating of ‘BB+’ with a Stable Outlook, short-term issuer default rating of ‘B’, and individual rating of ‘D/E’ for AccessBank of Azerbaijan, a for-profit microfinance institution.