CGAP (Consultative Group to Assist the Poor), an independent policy and research center housed at the World Bank Group, recently responded to proposals made by Dr Sanjay Sinha, managing director at Micro-Credit Ratings International (M-CRIL), which were presented in a recent article covered by MicroCapital on July 15, 2010.
Search Results for: microfinance financial crisis
MICROCAPITAL BRIEF: Lagos, Nigeria Cooperative Societies’ Total Capital Reaches $3b
According to the Commissioner for Agriculture and Cooperatives in Nigeria, the aggregate capital base of cooperative societies in Nigeria’s Lagos state has reached NGN 500 billion (USD 3 billion).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) and European Bank for Reconstruction and Development (EBRD) Syndicate $164m Debt Financing Package for Russia’s Transcapitalbank
The International Finance Corporation (IFC), a member of the World Bank Group, and the European Bank for Reconstruction and Development (EBRD), a London-based financial services institution, have jointly raised USD 164 million of debt financing for Transcapitalbank, a Russian bank which primarily supports small and medium-sized enterprises and has total assets of RUB 58 billion (USD 1.9 billion) at December 31, 2009.
MICROCAPITAL BRIEF: Dr Sanjay Sinha of M-CRIL Takes Issue with CGAP (Consultative Group to Assist the Poor)
Dr Sanjay Sinha, managing director at Micro-Credit Ratings International (M-CRIL), authored an article featured in Microfinance Focus in which he proposed changes to several of the ideas advocated by CGAP (Consultative Group to Assist the Poor), an independent policy and research center housed at the World Bank Group.
MICROCAPITAL BRIEF: The Inter-American Development Bank’s (IDB’s) Multilateral Investment Fund (MIF) to Provide $2m to Haitian Emergency Liquidity Program (HELP)
The Inter-American Development Bank (IDB), which reported total assets of USD 6.3 billion as of 2008, plans to provide up to USD 2 million to the Haiti Emergency Liquidity Program (HELP) under the Multilateral Investment Fund (MIF), which was founded in 1993 and reported total disbursements of USD 112 million in 2008.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Extends $24.6m Loan to ProCredit Bank Serbia to Improve Access to Finance for Small and Medium-Sized Enterprises
The International Finance Corporation, a member of the World Bank Group, has extended a EUR 20 million (USD 24.6 million) loan to ProCredit Bank Serbia, a private, development-oriented, full-service bank established in 2001, in an effort to increase access to loans for small and medium-sized enterprises in the country. According to Giovanni Daniele, IFC’s Resident Representative in Serbia, small and medium-sized enterprises are an important generator of employment in the country. However, the sector was severely hit by the recent global financial crisis, and companies are now experiencing problems in securing new financing.
MICROCAPITAL EVENT: International Association of Money Transfer Network (IAMTN) Hosts Second Money Transfers Conference in Singapore September 21, 2010
Event Name: International Association of Money Transfer Networks (IAMTN) Second Money Transfers Singapore Conference
Event Date: September 21, 2010
Event Location: Mandarin Oriental Singapore Hotel, Singapore
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL BRIEF: African Development Bank, Four Other International Finance Institutions Launch $600m African Capitalization Fund
The African Development Bank (AfDB) and four development finance institutions recently launched an African Capitalization Fund (the “Fund”), which will be structured as a private equity fund. The other financial institutions involved are the European Investment Bank, the International Finance Corporation (IFC), the OPEC Fund for International Development (OFID) and Abu Dhabi Fund for Development (ADFD). The Fund will be managed by the IFC’s Asset Management Company and will invest in private sector commercial banks.
MICROCAPITAL BRIEF: Two Thirds of Philippine Households Lack Bank Accounts, Says Central Bank Official
Two thirds of Philippine households, an estimated 11 million, do not have bank accounts, according to Mr Amando Tetangco, the Governor of Bangko Sentral ng Pilipinas (BSP), the central bank of the Republic of the Philippines.
MICROCAPITAL PAPER WRAP-UP: Microcredit as a Variant Form of Sub-Prime Lending by John D. Conroy for the Foundation for Development Cooperation (FDC)
By John D. Conroy, published by the Foundation for Development Cooperation (FDC), May 2010, 4 pages, available at: http://www.fdc.org.au/files/Resources/briefing-note/Briefing%20Note%20No%2010%20-%20Final%20%28e-version%29.pdf
In this FDC Briefing Note, the author draws parallels between the worldwide development of subprime lending and microcredit over the last decade. The theme of inadequate capacity for deposits and other forms of saving through microfinance institutions (MFIs) also runs through the author’s arguments.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $3m to Agricultural Cooperative Bank of Armenia (ACBA) Leasing for Small and Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), a member of the World Bank Group, is loaning USD 3 million to Agricultural Cooperative Bank of Armenia (ACBA) Leasing, which was originally established by IFC.
MICROCAPITAL BRIEF: International Fund for Agricultural Development (IFAD) Estimates that Global Remittances Declined 11.5% in 2009
According to a report by the International Fund for Agricultural Development (IFAD), a United Nations agency dedicated to eradicating rural poverty in developing countries, global remittances may have declined by up to 11.5 percent in 2009 due to the financial crisis.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Provide $18.5m Loan to NBD Bank, a Commercial Bank in Russia that Specializes in Lending to Micro, Small, and Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), an international finance institution, will provide a RUB 450 million unsecured loan, the equivalent of over USD 18.5 million, to NBD Bank, a commercial bank in Russia that specializes in providing loans to micro, small, and medium-sized enterprises (MSMEs) and is minority-owned by EBRD.
MEET THE BOSS: Nanno Kleiterp of the Netherlands Development Finance Company (FMO)
The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO uses loans, mezzanine financing and equity investments to invest in financial institutions and other companies in developing countries. With an investment portfolio of USD 6.5 billion, FMO is one of the world’s largest bilateral private sector development banks. FMO’s mission is to create flourishing enterprises that can serve as engines of sustainable growth in their countries.
MICROCAPTIAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $9.6m to NLB Razvojna Banka for Micro- and Small Enterprise (MSE) Lending
The European Fund for Southeast Europe (EFSE), a microfinance investment fund, recently loaned EUR 7 million (the equivalent of USD 9.6 million) to NLB Razvojna banka, a financial institution in Bosnia and Herzegovina.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and CRG Capital (CRG) Launch Central and Eastern Europe (CEE) Special Situations Fund
The International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and CRG Capital, a financial service firm, launched the Central and Eastern Europe (CEE) Special Situations Fund.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $2.9m Loan to Union Bank in Albania for On-Lending to Small and Medium Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD) has recently extended a medium-term credit line of EUR 2 million, worth about USD 2.9 million, to Union Bank, a private bank in Albania, in order to improve microcredit lending activities, especially to local small and medium enterprises (SMEs). Edmond Leka, Chairman of the Board of Directors of Union Bank said that “while much of the banking world is retrenching lending activities,” this credit line will be essential in allowing Union Bank to increase its on-lending capabilities to its clients. Until now, the ERBD has provided about USD 786 million to various infrastructural, financial, and energy-related projects in Albania.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides €100m ($146m) Credit Line to Bank Millennium to Assist Small and Medium Enterprises (SMEs) in Poland
The European Bank for Reconstruction and Development (EBRD) has provided a EUR 100 million (USD 146 million) medium term credit line to Bank Millennium of Poland for on-lending to small and medium enterprises (SMEs). This credit line supports Bank Millennium’s recently announced strategy to increase its business in the SME segment of Poland, which has been affected by the financial crisis.