ACCION International, a US-based nonprofit organization that supports microfinance institutions (MFIs) in 22 countries, recently announced the official launch of ACCION Microfinanças, an MFI in the Brazilian state of Amazonas.
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MICROCAPITAL BRIEF: Munich Re Foundation Calls for Proposals for 7th International Microinsurance Conference In Rio de Janeiro, Brazil, November 8 – November 10, 2011
Munich Re Foundation, a German grant-making foundation, has issued a call for proposals for its seventh annual microinsurance conference, which will take place in Rio de Janeiro, Brazil, November 8 to November 10, 2011.
MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Technology Blog Reviews Lessons Learned from Branchless Banking in Brazil
The CGAP Technology Blog, operated by US-based think tank CGAP (Consultative Group to Assist the Poor), recently posted an article by Kabir Kumar and Yanina Seltzer that reviews branchless banking in Brazil, whereby agents such as retailers and post offices serve as links between banks and customers. The article is the first of a planned series that examines the state of branchless banking in different countries.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Supports Development of Microfinance by American Life of Brazil
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and American Life, a Brazilian insurance company, recently launched an effort to rollout a new life insurance product that will be offered to low-income families in Brazil.
MICROCAPITAL BRIEF: ACCION Microfinanças of Manaus, Brazil Begins Disbursing Microfinance Loans
ACCION Microfinanças, a microfinance institution (MFI) operating in Brazil as a subsidiary of US-based nonprofit ACCION International, recently disbursed its first loan. Officially established in December 2010, ACCION Microfinanças aims support to poor people and small and medium-sized enterprises (SMEs) in the Amazon region through access to microcredit.
MICROFINANCE EVENT: Mobile Money Transfer (MMT) Americas Conference and Expo, Sao Paulo, Brazil, March 21 – 24, 2011
Event Name: Mobile Money Transfer (MMT) Americas Conference and Expo
Event Date: March 21 – March 24, 2011
Event Location: Sao Paulo, Brazil
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $20m in Banco Triângulo SA (Tribanco) to Support Lending to Micro-, Small and Medium-Sized Enterprises (MSMEs) in Brazil
International Finance Corporation (IFC), the private sector arm of the World Bank Group, is making a USD 20 million equity investment in newly issued common shares of Banco Triângulo SA (Tribanco), a Brazilian bank that primarily serves small businesses. IFC’s investment in Tribanco supports a partnership that began six years ago when IFC provided USD 25 million in funding to the bank.
MICROCAPITAL BRIEF: Clinton Global Initiative (CGI) Announces New Commitments; Brazilian Sitawi to Start Microcredit Fund, Lumni to Provide Student Loans
On September 23, 2010, Sitawi, a Brazilian social enterprise fund, and Lumni, a fund that helps students finance their education, announced new commitments at the annual meeting of the Clinton Global Initiative, a forum on international development founded in 2005 by former US President Bill Clinton.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Provides $29.1m in Guarantees Toward Brazilian Securitized Fund for SMEs
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has committed to issue a BRL 50 million (USD 29.1 million) guarantee for investors in a fund that securitizes loans originated by Banco Industrial Comercial S.A.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Arranges $135m Syndication for Banco Fibra of Brazil in Cooperation with Banco Itau Europa and Banco Santander
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently arranged USD 135 million in syndicated lending for Banco Fibra, a Brazilian bank that reported 2009 total assets of BRL 11.8 billion (USD 6.7 billion). The IFC, a 7.9 percent stakeholder in Banco Fibra, raised much of the funds through Banco Itau Europa of Portugal and Banco Santander of Spain. Through this deal, Banco Fibra aims to expand its services for small and medium-sized enterprises (SMEs) in Brazil.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases “Brazil Microfinance Analysis and Benchmarking Report” in Portuguese
The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, has recently released the Portuguese version of its most recent report on microfinance in Brazil, entitled “The 2009 Brazil Microfinance Analysis and Benchmarking Report.”
MICROCAPITAL BRIEF: Germany’s Environment Ministry, KfW to Launch $500m Microfinance Fund for Climate Projects in Brazil, Asia, Africa
Germany’s Federal Environment Ministry recently announced it would be launching a USD 500 million climate fund that will provide microloans for individual energy efficiency or renewables projects initially through local banks in Brazil, China, India, Indonesia, Morocco, the Philippines and South Africa.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Arranges Syndicated Loan of $165m for Banco Daycoval to Improve Access to Finance for Small and Medium-Sized Enterprises in Brazil
The International Finance Corporation (IFC), a member of the World Bank Group, with the participation of 11 international banks, has arranged a syndicated loan of EUR 134 million (USD 165 million) for Banco Daycoval, a commercial bank based in Sao Paolo, with the aim of increasing access to finance for small and medium-sized enterprises in Brazil. The 11 international banks involved in the transaction are: Itau Europa, Standard Bank, HSBC, Calyon, Citibank, Oberbank, Banco Santander, Standard Chartered, WestLB, Commerzbank and ING.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $47m in Brookfield Incorporacoes to Increase Quality of Housing for Low-Income People in Brazil
The International Finance Corporation (IFC), a member of the World Bank Group, is planning to invest USD 47 million in Brookfield Incorporacoes, a Brazilian real estate development company, in order to “increase the availability of high-quality housing for low-income people in Brazil” [1]. The investment consists of USD 17 million in equity and USD 30 million for a long-term revolving line of credit.
MICROCAPITAL BRIEF: Brazilian Microfinance Sector Poised For Growth Following Annual 22 Percent Increase In Microborrowers since President da Silva’s Election
While the Brazilian microfinance market has seen significant growth since President Inacio Lula da Silva took power in 2002, a recent article estimates the market has reached two percent penetration [1]. Since his election, the number of microborrowers in Brazil has increased from 159,000 to 809,000 with a total of BRL 775.5 million (USD 426 million) in outstanding loans. Growth is expected to continue with increased interest in this market from established banking institutions such as Banco Santander, Unibanco and Banco Real.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2009 Brazilian Microfinance Report
The nonprofit Microfinance Information Exchange (MIX) recently released the 2009 benchmarking report on the microfinance sector in Brazil, available in Spanish.
MICROFINANCE EVENT: Groupe Speciale Mobile Association (GSMA) Hosts the 2010 Mobile Money Summit in Rio de Janeiro, Brazil, May 24 – May 27, 2010
Event Name: 2010 Mobile Money Summit
Event Date: May 24 – May 27, 2010
Event Location: InterContinental Rio Hotel, Rio de Janeiro, Brazil
Event Website: http://www.mobilemoneysummit.com/index.shtml
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL BRIEF: Changes to Brazilian Development Bank’s (BNDES’s) Microcredit Program Aims to Double Number of Disbursements and Expand Microfinance Portfolio by 50% in Next Two Years
The Brazilian Development Bank (BNDES), a federal public finance company, recently announced changes to its microcredit program that could double the number of disbursements to microfinance institutions (MFIs) and expand its portfolio by 50 percent from BRL 80 million (the equivalent of USD 44.4 million) to BRL 120 million (the equivalent of USD 66.6 million).