MicroCred Holding, a French microfinance investment company that was created by French NGO PlaNet Finance, has raised EUR 8.4 million (USD 11.4 million) in equity funding through an issue of new shares to Danish Microfinance Partners (DMP), a Danish investment fund that invests in micro-, small and medium-sized enterprises (MSMEs).
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MICROCAPITAL BRIEF: Triodos Investment Management Loans $1m each to Advans Banque Congo, Microfinance Institution (MFI) Vitas Jordan
Triodos Investment Management, a subsidiary of Netherlands-based Triodos Bank, reportedly has loaned USD 1 million to Advans Banque Congo, a commercial bank, and JOD 705,000 (USD 1 million) to Amman-based microfinance institution (MFI) Vitas Jordan.
MICROCAPITAL BRIEF: Triodos Loans $9.6m to Microfinance Institutions Grameen Koota of India, Koperasi Mitra Dhuafa (Komida) of Indonesia
Triodos Investment Management, a subsidiary of Dutch Triodos Bank, recently disbursed local currency loans totaling the equivalent of USD 9.6 million to Grameen Financial Services Private Limited (Grameen Koota), a non-banking financial company (NBFC) in India, and Koperasi Mitra Dhuafa (Komida), an Indonesian microfinance institution (MFI) [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $14m to Rosbank Leasing (RBL) of Russia for On-lending to Small and Medium-Sized Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a 5-year senior loan of RUB 500 million (USD 14.4 million) to Rosbank Leasing (RBL), the leasing subsidiary of Rosbank, a Russia-based commercial bank.
MICROCAPITAL BRIEF: LeapFrog Investments Purchases 25% Stake in Ghana-based Pension Firm Petra Trust
LeapFrog Investments, a private equity fund based in Mauritius, has purchased a 25-percent stake in Petra Trust, a Ghanaian pension-trustee company.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $64.8m to Banque Tuniso-Kowetienne of Tunisia for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs), Trade Financing
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a loan of EUR 40 million (USD 54.8 million) to Banque Tuniso-Kowetienne (BTK), a Tunisia-based commercial bank.
MICROCAPITAL BRIEF: MicroVest to Manage Calvert Foundation’s $50m Microfinance Investment Portfolio
Calvert Foundation, a US-based nonprofit organization specializing in social impact investment, recently announced that MicroVest Capital Management, a US-based private microfinance investment firm, will manage its USD 50 million microfinance investment portfolio.
MICROFINANCE PAPER WRAP-UP: “Global Financial Development Report 2014,” Published by the World Bank
“Global Financial Development Report 2014,” published by The World Bank, January 2014, 225 pages, available at http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTGLOBALFINREPORT/0,,menuPK:8816192~pagePK:64168176~piPK:64168140~theSitePK:8816097,00.html
This report draws on research and analysis of the global financial services market to address the needs of low-income people that do not have access to financial services and recommends policies that the authors believe would increase financial inclusion.
MICROCAPITAL BRIEF: UK’s CDC Group Makes $16m Equity Investment as Part of $36m Package for Equitas
The CDC Group, a development finance institution owned by the UK government’s Department for International Development, has made an equity investment of USD 16 million in Equitas Holdings Private Limited (Equitas), a microfinance company based in Chennai, India [1].
MICROCAPITAL BRIEF: World Bank’s International Development Association Donating $50m to Support Microfinance Investment Support Facility for Afghanistan (MISFA), Afghanistan Credit Guarantee Facility
The World Bank, a US-based multilateral institution, recently approved grants totaling USD 50 million to the Microfinance Investment Support Facility for Afghanistan (MISFA), a government-backed microfinance funder, and the Afghanistan Credit Guarantee Facility, an organization that provides partial risk guarantees on loans retail institutions disburse to small- and medium-sized enterprises, in an effort to stimulate economic growth in the country by increasing access to financial services for micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: Dutch Development Bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) Planning to Loan $10m to Bank Andara of Indonesia for On-lending to Microfinance Institutions (MFIs)
Dutch development bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) recently signed a letter of intent with Bank Andara (Andara), an Indonesian provider of retail and wholesale microfinance services, to provide a local-currency senior loan equivalent to USD 10 million for on-lending to local microfinance institutions (MFIs).
MICROCAPITAL BRIEF: ResponsAbility of Switzerland Loans $20m to Microfinance Institution Financiera Confianza of Peru
ResponsAbility Investments, a Swiss investor in microfinance and other sectors, recently loaned USD 20 million to Financiera Confianza, a Peruvian NGO microfinance institution (MFI). Further information on the transaction is not available.
MICROCAPITAL BRIEF: Prudential Purchases Controlling Stake in Ghana’s Express Life Insurance From LeapFrog Investments
UK-based life insurance firm Prudential plc has purchased a majority stake in Ghanaian microinsurance provider Express Life Insurance Company from LeapFrog Investments, a private equity fund based in Mauritius.
MICROCAPITAL BRIEF: Deutsche Bank Secures $75m for Microfinance Enhancement Facility for On-lending to Micro-, Small Enterprises
Deutsche Bank, a German financial services company, recently secured USD 75 million in financing from unspecified private investors for the Microfinance Enhancement Facility (MEF), a microfinance investment vehicle, for on-lending via retail financial institutions to micro- and small enterprises in middle and low-income countries.
MICROCAPITAL BRIEF: Orix of Japan Buys 6% Stake in Acleda Bank of Cambodia
Orix Corporation, a Japanese financial services conglomerate, reportedly has purchased a 6-percent stake in Acleda Bank Public Limited Company, a microfinance bank in Cambodia [1].
MICROCAPITAL BRIEF: Agence Française de Développement (AFD), Lift Above Poverty Organization (LAPO) Commit $8.3m to Housing Microfinance Project, Lafarge Nigeria to Provide Technical Assistance
Agence Française de Développement (AFD), France’s international development agency, has announced a long-term credit line of NGN 1 billion (USD 6.3 million) to Lift Above Poverty Organization (LAPO), a Nigerian microfinance institution (MFI), to support an affordable housing project that aims to enable low-income families in Nigeria to construct or improve their housing [1].
MICROFINANCE PUBLICATION ROUND-UP: ANDE 2012 Impact Report; Microfinance Performance Evaluation; Status of Microfinance in Karnataka, India
“ANDE 2012 Impact Report”; The Aspen Institute; 2013; 39 pages; available at http://www.aspeninstitute.org/publications/ande-2012-impact-report
This document covers aspects of small and growing businesses including the barriers women business owners face in the marketplace.
MICROCAPITAL BRIEF: Netherlands Development Finance Company (FMO) Issues $675m in Bonds to Fund Inclusive Finance, Renewable Energy, Agriculture, Other Projects
The Netherlands Development Finance Company (FMO), a Dutch public-private partnership that aims to promote growth in developing economies, recently issued five-year “Sustainability Bonds” in the amount of EUR 500 million (USD 675 million) to finance environmentally friendly and socially responsible initiatives related to renewable energy, agriculture, food processing, forestry, transportation, access to water and microfinance [1].