The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently committed USD 250 million in loan funding for rural Mexico. IDB is opening the credit line
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MICROCAPITAL BRIEF: Development Bank of Jamaica Opens $50m Credit Line from IDB to Promote Sustainable Growth Among Startups, Existing MSMEs
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently committed USD 50 million in loan funds for Jamaica. The first disbursal of USD 25 million is meant to
MICROCAPITAL BRIEF: IDB Loans $40m to Panama to Support Entrepreneurship, Financial Inclusion Among Indigenous Peoples
The Inter-American Development Bank (IDB), a US-based development finance institution, recently approved a 24-year loan of USD 40 million to the nation of Panama. The loan, co-funded with USD 3 million from the government of Panama, is to be used for projects addressing the needs of for-profit businesses and other organizations run by indigenous people, including those that improve access to financial services and infrastructure. The individual project plans are based on the National Plan of Indigenous Peoples (sometimes referred to by its Spanish acronym PNDIPI), which was established by the government of
MICROCAPITAL BRIEF: Belize Credit Union League, IDB Partner on Green Microfinance as Part of Caribbean EcoMicro Program
The US-based multilateral Inter-American Development Bank (IDB) recently signed a four-year deal with the 11-member Belize Credit Union League (BCUL) to provide 380 farmers and fishermen with access to “climate-smart” technologies intended to increase food productivity and reduce greenhouse-gas emissions. The partners
MICROCAPITAL BRIEF: Fusion Microfinance Raises $72m in Equity from Warburg Pincus, Creation Investments; Provides Exits to Incofin, Nordic Microfinance Initiative, SIDBI, BIO
US-based investors Warburg Pincus and Creation Investments recently placed INR 520 crore (USD 72 million) in equity in Fusion Microfinance, a provider of group loans and financial literacy training to women in rural areas of northern and central India. As part of the funding round, the following investors sold their stakes in the
MICROCAPITAL BRIEF: IDB’s Financial Innovation Lab, Oikocredit Invest $5.7m in Equity in Sempli of Colombia to Expand Fintech Services for SMEs
The multilateral Inter-American Development Bank (IDB) and Netherlands-based cooperative investor Oikocredit recently closed an investment of USD 5.7 million in Colombian financial technology (fintech) company Sempli to increase its services to small and medium-sized enterprises (SMEs). The amount invested by each organization
MICROCAPITAL BRIEF: IDB Disburses $148m for Energy-efficiency Projects for Small, Medium-sized Enterprises (SMEs) in Argentina, El Salvador, Paraguay via UN’s Green Climate Fund
With funds drawn from the Green Climate Fund (GCF), a UN-managed investment vehicle for mitigating the effects of climate change, the Inter-American Development Bank (IDB), a member of the US-based IDB Group, recently made three loans totaling USD 140 million to finance energy-efficiency projects undertaken by small and medium-sized enterprises (SMEs) in Latin America.
MICROCAPITAL BRIEF: IDB Invest Places $10m in Bozano Growth Capital Fund to Take Equity Positions in Mid-sized Healthcare Firms in Brazil
IDB Invest, the private sector arm of the Inter-American Development Bank (IDB) Group, recently executed an equity investment of USD 10 million in Bozano Investimentos, a Brazil-based private equity and asset
MICROCAPITAL BRIEF: IDB Loans $10m to Factotal for SME Leasing, Factoring, Vendor Finance in Chile, Peru
IDB Invest, the private sector arm of the Inter-American Development Bank (IDB) Group, recently disbursed a four-year loan of USD 10 million to Factotal SA, a Chile-based provider of leasing, factoring and vendor-finance services for small and medium-sized enterprises (SMEs). The deal, which is the fourth between the parties, is
MICROCAPITAL BRIEF: IDB Buys $3m Equity Stake in Digital Lender, Payments Provider Moni of Argentina
IDB Invest, the private sector arm of the Inter-American Development Bank (IDB) Group, recently invested USD 3 million in Moni Online, a financial technology (fintech) firm whose app allows users – who are primarily in Mexico and Argentina – to pay bills as well as apply for and receive loans with
MICROCAPITAL BRIEF: IDB Establishing “Retirement Savings Laboratory” to Test Behavioral, Technology Interventions to Encourage People in Latin America, Caribbean to Save
The Inter-American Development Bank (IDB), a member of the US-based IDB Group, recently announced that it is launching a Retirement Savings Laboratory to pilot-test and evaluate approximately 15 methods for encouraging “low-income and independent workers” to save for retirement. The goal is to get 400,000 people to begin saving “through interventions based on behavioral economics and the use of new technologies.” Further, according to Carmen Pagés, the chief of the Labor Market Division of IDB, “IDB wants to generate reliable evidence, through rigorous impact
MICROCAPITAL BRIEF: Latin American Agribusiness Development Corporation (LAAD) Borrowing $45m from IDB for SMEs in Farming Value Chains, Improving Impact Measurement
The Latin American Agribusiness Development Corporation (LAAD), a US-based funder of small and medium-sized enterprises (SMEs) in Latin America and the Caribbean, recently secured a seven-year loan of USD 45 million from the private-sector member of the US-based Inter-American Development Bank (IDB) Group, IDB Invest.
LAAD will use the fund to invest in SMEs active in “all stages of production, storage, technology and commercialization” in Chile, Colombia,
MICROCAPITAL BRIEF: India’s Aavishkaar Bharat Fund Attracts $95m for Impact Investing from Investors Including CDC, SIDBI, Munjal Family Office (Hero Corporation), TIAA
Indian fund advisor Aavishkaar recently completed the first close of the Aavishkaar Bharat Fund, with commitments of INR 6.2 billion (USD 95 million), of which it has INR 5.9 billion (USD 92 million) in hand. The fund will support businesses in India that further Aavishkaar’s mission to “enhance livelihoods and reduce vulnerabilities for the low-income population” in “a range of sectors, namely agriculture, dairy, education, energy, handicrafts, health, water and sanitation, technology for development, microfinance and financial inclusion.” Aavishkaar will seek to do this while generating a
MICROCAPITAL BRIEF: Fundación Paraguaya Offering Loans in Paraguay for Stoves with Lower Environmental Impact, Supported by DiD, Econoler, IDB
Fundación Paraguaya, a Paraguay-based non-governmental organization, recently introduced a credit product intended to facilitate “the purchase of environmentally friendly technology,” particularly induction stoves, which run on electricity rather than gas or charcoal. In a pilot program, 383 women who purchased induction stoves
MICROCAPITAL BRIEF: IDB Loans Colombia $450m for Goals Including Facilitating Access to Capital for SMEs, Improving Financial Inclusion
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently announced it will extend a loan of USD 450 million to the government of Colombia with the goal of helping to “solidify macroeconomic stability, boost development, encourage public/private partnership financing, strengthen regulation of the financial system [and] promote financial inclusion.”
MICROCAPITAL BRIEF: Bandhan Sells $474m in Microloans to HDFC Bank, IDBI Bank, Yes Bank
Bandhan Bank, an Indian microfinance institution that is organized as a commercial bank, recently sold INR 32 billion (USD 474 million) of “priority sector loans to more experienced private sector rivals to help them meet lending targets.” Indian regulators require banks to invest certain percentages of their holdings in “priority sectors” such as agriculture. Chandra Shekhar, the Managing Director of Bandhan Bank, said that Bandhan Bank had used “inter-bank participation certificates” to sell the loans to India’s HDFC Bank, IDBI Bank and Yes Bank.
MICROCAPITAL BRIEF: IDB Approves $120m Loan for Chile for Factoring, Cooperatives, Leasing for MSMEs
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently approved a loan of USD 120 million to the Chilean government to finance the development of micro-, small, and medium-sized enterprises (MSMEs). The loan is divided into three parts: (1) USD 50 million for factoring to “fund eligible entities that neither belong to nor are associated with banks”; (2) USD 50 million to lend to “eligible Savings and Lending Cooperatives”; and (3) USD 20 million for “eligible leasing companies that neither belong to nor are associated with a bank to help them finance MSMEs…” Factoring is a process whereby a company sells future goods or services at a discount in return for immediate cash.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Loans $10m to Paraguay’s Vision Banco to Fund Water, Sanitation Facilities for Low-Income Populations
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently approved a loan of USD 10 million to Vision Banco, a microfinance institution (MFI) in Paraguay.