MicroCred, an investment company that creates companies and banks specialized in microfinance, approved a capital increase which includes investments from a new shareholder, Developing World Markets (DWM) and a founding shareholder, AXA Belgium. DWM will take a 22% stake in the company, while AXA Belgium will increase its shareholding to 25%. MicroCred’s total equity capital stood at USD 23.2 million at the end of November 2008.
Search Results for: mexico
MICROCAPITAL STORY: Global Partnerships Launches its Third Fund, the $20m Microfinance Fund 2008 (MFF 2008)
Global Partnerships (GP), a Seattle-based non-profit organization that funds microfinance institutions (MFIs) in Latin America, recently announced the creation of its Microfinance Fund 2008 (MFF 2008), a USD 20 million microfinance investment fund intended to aid the rural poor. Seeking a return of four to five percent on a six-year note, MFF 2008 will fund investments in several MFIs and other partner organizations in Bolivia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, and Peru. The fund is closed to additional investors.
PRESS RELEASE: Global Partnerships Closes $20m Microfinance Fund
Source: Global Partnerships.
PRESS RELEASE: Barclays and UNICEF Announce £5m Partnership
Source: UNICEF.
NEWS WIRE: Offshore Microfinance – The Only Legitimate High Yield Investment Program?
Source: CNWins.
MICROCAPITAL STORY: MicroRate Publishes Public Ratings of Microfinance Institutions Conducted Between January and September 2008
Forprofit microfinance rating company MicroRate has announced the completion of the following public microfinance institution ratings between January 2008 and September 2008:
PRESS RELEASE: Nicaragua: Banex Gives More Opportunities
Source: Banex.
MICROCAPITAL STORY: Pro Mujer to Mark 18 years of Microfinance during 2008 Benefit Event
Pro Mujer, an international microfinance organization serving women in Latin America will hold its 2008 benefit celebration in New York City on October 30th. The event will celebrate Pro Mujer’s 18 years of operation and over one million women served.
NEWS WIRE: Remittances to Latin America Decline as Global Economy Sours
Source: Washington Post.
NEWS WIRE: Microcredit : Altruism or Eploitation?
SOURCE: The Daily Star
NEWS WIRE: United States: Opportunity International Launches OptINnow(TM)
Source: Market Watch.
MICROCAPITAL STORY:Opportunity International Emulates Kiva With The Launch of OptINnow
Opportunity International (OI) announced the launch of OptINnow, a project that allows people to donate online funds which will then be disbursed as microloans. The donor selects an entrepreneur online and then chooses how much he or she will donate. The funds are disbursed through the relevant OI microfinance institution (MFI) Kenya, Mexico or the Philippines, with additional countries being added in the future. The minimum donation is USD 25. While the launch of OptINnow was announced on October 21st, 2008, it began advertising in June, using Facebook and MySpace.
MICROCAPITAL STORY: Inter-American Development Bank (IADB) Projects First Time Drop in Real Value of Remittances to Latin America and the Caribbean in 2008
The Inter-American Development Bank (IADB) recently announced a projection that the value of remittances sent by migrant workers to their families in Latin America and the Caribbean will grow in 2008 by its slowest rate on record. Migrants sent home about USD 66.5 billion last year but may increase that amount by about 1.5 percent in 2008, bringing the yearly total to USD 67.5 billion. Despite the nominal increase, remittances in 2008 may for the first time contribute 1.7 percent less (p. 1) to household incomes after accounting for rising Latin-American inflation and the falling U.S. dollar.
NEWS WIRE: Paraguay: Andean Countries Boast Best Business Climate for Microfinance, According to Microscope Index
Source: Inter-American Development Bank.
MICROCAPITAL STORY: Madura Micro Finance to receive USD 4.52 Million from Unitus Equity Fund L.P. to expand upon Rural Microcredit Products in India
Unitus Equity Fund L.P., a Seattle-based private equity investment firm announced a funding of Rs 22 Crores (USD 4.52 million) to Madura Micro Finance Limited (MMFL) an Indian microfinance institution. Madura is a non-banking finance company servicing India’s rural poor population. It has credit networks throughout the 182 branches within the rural Tamil Nadue province, and mostly works in association with large commercial banks as sources of credit.
MICROCAPITAL STORY: World Bank Group Publishes Online Database of Global Remittance Prices to Improve Price Transparency in Remittance Provision Markets
The World Bank Group recently published a publicly-available online database of global remittance prices in 120 “country corridors” (i.e. two countries between which remittances are transferred) with the aim of informing low-income migrant workers and households in emerging economies. While global leaders have talked about reducing remittance-sending costs for some time, little has been done on the issue in the way of substantial quantitative data until now, says remittances specialist Dilip Ratha.
NEWS WIRE: Chile: International Finance Corporation (IFC) Unveils $2b Aid Plan, Could Mobilize $2b More Regional
Source: Business News America.
MICROCAPITAL STORY: Mexican Microfinance Insitution (MFI) Financiera Independcia Appointed Credit Suisse as Market Maker for the Firms Securities
Financiera Independencia, a microfinance institution (MFI) traded on Mexican Stock Exchange, has appointed the Mexican division of Credit Suisse, a prominent international financial services firm, to serve as a market maker for the MFI’s securities. Market makers facilitate the entry and exit of investors by connecting buyers and sellers and temporarily buying or selling securities to facilitate the investors’ transactions.