The French technology company Baobab+ recently raised EUR 2 million (USD 2.4 million) in equity from the Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI-OGEF), an initiative of the African Development Bank (AfDB). Baobab+ also secured a loan of the same amount from the Energy Entrepreneurs Growth Fund (EEGF), which is
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MICROCAPITAL BRIEF: Amen Bank of Tunisia Borrows $17m from Sanad for On-lending to MSMEs Adjusting to COVID-19 Pandemic
Tunisia’s Amen Bank recently accepted a senior loan of EUR 14 million (USD 16.7 million) from the Luxembourg-domiciled Sanad Fund for MSME. Via its 160 branches, Amen Bank is to on-lend the funds to
MICROCAPITAL BRIEF: Northern Arc Borrows $25m from FMO to Fund Institutions Serving Women, MSMEs in India
Northern Arc Capital Limited, a non-banking financial company (NBFC) in India, recently received USD 25 million in debt financing from the Dutch development bank Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO). The funding will enable Northern Arc to boost its support of institutions that serve micro-, small and medium-sized enterprises (MSMEs), particularly those
MICROCAPITAL BRIEF: ATL Secures $12m from Sanad for SME Leasing in Tunisia During COVID-19 Pandemic
Tunisia-based Arab Tunisian Lease (ATL) recently secured a senior loan of EUR 10 million (USD 12 million) from Sanad Fund for MSME, a Luxembourg-domiciled investor in lenders to micro-, small and medium-sized enterprises (MSMEs), for
MICROCAPITAL BRIEF: FEI OGEF Loans $4m to Bboxx to Expand “Pulse” Electric Power Management, Pay-as-you-go Solar Energy in DRC
The Off-Grid Energy Access Fund (OGEF), a debt fund of the Facility for Energy Inclusion (FEI), recently lent USD 4 million to Bboxx, a UK-based solar energy installation and financing firm that is active in Africa and Asia. The loan proceeds are slated to help Bboxx meet its agreement with
SPECIAL REPORT: Student Lending for Tertiary Education: Omtrix Offers Lessons Learned from 10 Years of HEFF
The 
The Higher Education Finance Fund (HEFF) was implemented in seven Latin American countries with the objective of improving access to tertiary education for motivated yet socially disadvantaged young people. It was promoted by Omtrix, Inc., a consulting and fund management company based in Costa Rica. HEFF’s equity investors were the German development bank KfW, the Norwegian Investment Fund for Developing Countries (Norfund), the Swiss Investment Fund for Emerging Markets, the Luxembourg Finance and Development Fund, Corporación Andina de Fomento, Omtrix and the Calvert Social Investment Foundation.
HEFF was premised on the idea that student loans are an intrinsically viable product for financial institutions (FIs) with social objectives. The experience of HEFF confirmed the validity of this notion, provided that
MICROCAPITAL BRIEF: Swedfund to Loan $12m to SunFunder Solar Energy Transformation (SET) Fund
Swedfund, the Swedish government’s development finance institution, recently pledged an investment of USD 12 million to the Solar Energy Transformation (SET) Fund, which was launched by SunFunder, a Kenya-based financier of solar energy firms in developing countries. SET is a nine-year, USD 70 million debt fund that aims
MICROCAPITAL BRIEF: Higher Education Finance Fund (HEFF) Closing After 10 Years of Lending for Students in Latin America, Caribbean
The Higher Education Finance Fund (HEFF), which was launched in 2011 by Costa Rica-based Omtrix, recently completed disbursing its volume of USD 30 million to microfinance institutions (MFIs) serving low-income households in Latin America and the Caribbean. The objective of the fund, which reached seven countries, was to support youth in accessing higher education as well as assisting in the diversification of
MICROFINANCE EVENT: The Economic Impact of COVID-19: Results of a Global Survey of Microfinance Customers; July 16, 2020; Webinar Hosted by FINCA
This online event will showcase the results of a survey of 5,000 microborrowers in Africa, Eurasia and Latin America regarding the “economic impacts of COVID-19” on their livelihoods. Two representatives of FINCA International will open the webinar, Scott Graham, the Director of Customer Research, and Anahit Tevosyan, the
MICROCAPITAL BRIEF: Netherlands Development Finance Company (FMO) Loans $5m to Vitas Palestine for Microfinance
The Netherlands Development Finance Company, which also is known by its Dutch acronym FMO, recently loaned USD 5 million to the microfinance institution (MFI) Vitas Palestine. FMO sourced the funding from MASSIF, an investment vehicle it manages for the Dutch government that is meant to
MICROCAPITAL BRIEF: Northern Arc Raises $23m for India Impact Fund to Invest in SMEs
India-based Northern Arc Investments recently completed the first close of its eighth fund, the Northern Arc India Impact Fund, which is its first fund to accept investments from outside the country. The firm plans to use the five-year debt fund to support Indian lenders for microenterprise, small business, agri-business and vehicles. Northern Arc Investments has raised USD 23 million for the India Impact Fund and will look to increase this to a total of USD 100 million to USD 150 million. By 2021, the company plans to execute
MICROCAPITAL BRIEF: Sanad Fund for MSME Launches Equity Sub-Fund II with $23m from BMZ, EU to Invest in Financial Inclusion, Job Creation in Middle East, North Africa
The Sanad Fund for MSME, a Luxembourg-domiciled investor in micro-, small and medium-sized enterprises (MSMEs), recently launched its Equity Sub-Fund (ESF) II, to invest in financial intermediaries with the aim of increasing financial inclusion and job creation in the Middle East and North Africa. The sub-fund’s mandate includes
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Loans $10m to FinLux ELLEN Sarl to Promote Solar Electricity Access in Chad in Partnership with Bren-Tronics
The Overseas Private Investment Corporation (OPIC), the development finance institution of the US government, recently loaned USD 10 million to FinLux E Longlife Energies Nouvelles (ELLEN), a firm registered in France, to distribute solar-powered devices to households, small businesses, medical clinics and educational institutions in Chad. To minimize the upfront cost to users, “the Project Company will retain ownership” of the devices.
MICROCAPITAL BRIEF: OPIC Loans $150m to Vitas Lebanon for Small, Medium-sized Enterprises (SMEs); Women; Rural Microfinance
The Overseas Private Investment Corporation (OPIC), an agency of the US government that facilitates investment by US-based firms in developing countries, recently loaned USD 150 million to the local member of US-based Vitas Group for on-lending to “small, medium-sized enterprises, women, and rural borrowers, and to groups that face substantial barriers to financial services in Lebanon.” Vitas Lebanon has loan products designed for consumption,
MICROCAPITAL BRIEF: Guatemala’s Fundación Génesis Empresarial, Pakistan’s Kashf Foundation, Opportunity Bank of Uganda Named as Finalists for Education Edition of $112k European Microfinance Award
The European Microfinance Platform (e-MFP), a network of European microfinance stakeholders working in developing countries, recently announced that three finalists for the 7th European Microfinance Award have been selected from 30 applicants: (1) Fundación Génesis Empresarial of Guatemala; (2) Kashf Foundation of Pakistan; and (3) Opportunity Bank of Uganda.
MICROCAPITAL BRIEF: IntelleGrow Raises $20m in Debt, Equity to Fund Micro-, Small, Medium-sized Enterprises in India
IntelleGrow Private Limited, an India-based nonbanking financial company specializing in venture debt that was founded by India’s Intellecap Capital Advisory Services, recently announced that it has raised INR 134 billion (approximately USD 20 million) in equity and debt.
MICROCAPITAL BRIEF: IFMR Holdings Raises $25m from Accion, LeapFrog, Lok Capital to Accelerate Financial Inclusion in India
IFMR Holdings, an arm of Indian nonprofit IFMR Trust, recently raised USD 25 million from Accion, a US-based nonprofit organization; LeapFrog Investments, a for-profit private equity fund based in Mauritius; and Lok Capital, an India-based microfinance investment vehicle.
MICROCAPITAL BRIEF: European Investment Bank (EIB) Introduces $33m Pacific Microfinance Facility
The European Investment Bank (EIB), the long-term lending bank of the European Union, has introduced the Pacific Microfinance Facility, a program that aims to support community projects and micro- and small enterprises (MSEs) in the Pacific region [1].