The World Bank Group (WBG), a US-based development bank, recently announced a new initiative called the “Financial Infrastructure Development Project” that aims to improve the transparency and efficiency of Yemen’s financial system as well as increase the financial inclusion of low-income people in the country.
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MICROCAPITAL BRIEF: Pasha Bank Underwrites Inaugural Bond Issue of $12.7m to FINCA Azerbaijan to Support Micro and Small Businesses, Entrepreneurs
Pasha Bank, an Azerbaijan-based financial services provider, recently underwrote a three-year inaugural bond issue of AZN 10 million (USD 12.7 million) to the Azerbaijan-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network.
MICROCAPITAL BRIEF: Creditinfo Group’s Credit Reference Bureau Licensed in Tanzania
The Bank of Tanzania (BOT), Tanzania’s central banking authority, has granted an operating licence for the establishment of a credit reference bureau [1].
MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $5.7m to Bank Andara to Support Microfinance Institutions (MFIs) in Indonesia
Standard Chartered Bank (SCB), a UK-based financial services company, recently announced that it will disburse a loan of IDR 57 billion (USD 5.74 million) to Bank Andara, an Indonesian commercial institution that provides wholesale services to microfinance institutions (MFIs) and savings services to individuals.
MICROCAPITAL BRIEF: FINCA International Starts Operations in Pakistan
The Foundation for International Community Assistance (FINCA), a US-based microfinance network, recently announced that it will start operations in Pakistan.
MICROCAPITAL BRIEF: responsAbility Loans $9.5m to MicroCred Nanchong of China
ResponsAbility Social Investments, a Swiss company with a focus on microfinance, recently notified MicroCapital that it disbursed a loan of CNY 60 million (USD 9.5 million) to Chinese microfinance institution (MFI) MicroCred Nanchong, a member of the France-based MicroCred.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers $100m Loan to Sberbank Kazakhstan (SBK) for Micro-, Small, Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, is reviewing a proposal to invest KZT 15 billion (USD 100 million) in the Subsidiary Bank Sberbank of Russia Joint Stock Company (SBK) in Kazakhstan, a commercial banking subsidiary of Sberbank of Russia, to increase financial access for micro-, small and medium-sized enterprises (MSMEs) in Kazakhstan. The EBRD board of directors will consider the proposal in July 2013.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), European Bank for Reconstruction and Development (EBRD) Loan $4m to Mikrokreditna Fondacija Mi-Bospo of Bosnia and Herzegovina
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently notified MicroCapital that it has opened a EUR 1.5 million (USD 1.9 million) credit line for Mikrokreditna Fondacija Mi-Bospo, a microlender in Bosnia and Herzegovina (BiH) that loans exclusively to women [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considering $100m in Loans for National Bank of Egypt for Micro-, Small, Medium-Sized Enterprises; Trade Finance
The UK-based European Bank for Reconstruction and Development (EBRD) recently revealed the pending approval of a finance facility of up to USD 100 million for the National Bank of Egypt (NBE), which is wholly owned by the Egyptian government.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $13m to Newly Launched Sberbank BH of Bosnia and Herzegovina for Housing, Micro- and Small Enterprise (MSE)
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment company, and Sberbank BH, the Bosnia and Herzegovina branch of government-owned Sberbank of Russia, recently signed a EUR 10 million (USD 13.3 million) loan agreement.
MICROCAPITAL BRIEF: Caterpillar Foundation Donates $19m to Opportunity International to Reach 17m People in Africa, Asia and Latin America
Opportunity International, a US-based nonprofit organization that provides financial services to poor people in 24 countries, recently announced that Caterpillar Foundation, the philanthropic arm of US-based equipment manufacturer Caterpillar Inc., has granted Opportunity two multi-year donations totaling USD 19.2 million [1].
MICROCAPITAL BRIEF: Indian Microlenders Seek More Time to Repay Funds On-Lent in Andhra Pradesh, Where Microlender Sees “No Improvement At All”
Wholesale loans covering INR 55 billion (USD 944 million) in Indian microloans reportedly are at risk of becoming classified as “non-performing assets” (NPAs) if microfinance institutions (MFIs) do not begin making payments on the loans before the expiration of a 90-day repayment window that begins on June 30, 2013.
MICROCAPITAL BRIEF: FINCA Becomes Majority Shareholder of Kashf Microfinance Bank of Pakistan with $8.4m Investment
Kashf Microfinance Bank Limited (KMBL), a Pakistan-based microfinance bank (MFB), recently announced an equity injection of PKR 824.7 million (USD 8.4 million) from FINCA Microfinance Coöperatief U.A., a Netherlands-based entity controlled by US-based NGO FINCA International.
MICROCAPITAL BRIEF: University of Texas, El Centro para la Promoción de la Micro y Pequeña Empresa en Centroamérica (CENPROMYPE), US Department of State Launch Small Business Development Center in Honduras
The University of Texas at San Antonio (UTSA) International Trade Center, a US-based trade assistance organization; El Centro para la Promoción de la Micro y Pequeña Empresa en Centroamérica (CENPROMYPE), a Central American institution focused on small-business development; and the US Department of State Pathways for Prosperity Initiative, a policy dialogue effort linking 12 Western Hemisphere countries, has launched a Small Business Development Center (SBDC) in the city of Choluteca, Honduras.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) May Back $50m Foundations Fund 1.0 for Small, Medium-Sized Enterprises in Romania
The UK-based European Bank for Reconstruction and Development (EBRD) recently revealed its expected approval of an equity investment of up to EUR 15 million (USD 19.5 million) in The Foundations Fund 1.0, a Luxembourg-based corporate partnership fund, in an effort to foster capital equity investments in Romanian small and medium-sized enterprises (SMEs) that lead to multi-sector growth.
MICROCAPITAL BRIEF: Azerbaijan Microfinance Association Considers Credit Bureau for Microlenders
Teymur Heybatov, a representative of the Azerbaijan-Central Asia Financial Markets Infrastructure (ACAFI) advisory services project of the World Bank Group’s International Finance Corporation (IFC), reportedly has announced that a meeting will be held with the leadership of the Azerbaijan Microfinance Association (AMA) to discuss establishing a credit bureau for microfinance institutions (MFIs) in Azerbaijan.
MICROCAPITAL BRIEF: Nine Indian Impact Investment Companies Forming “Indian Impact Investor Council”
Nine companies that specialize in impact investment reportedly will be establishing the “Indian Impact Investor Council” (IIIC) to establish guidelines helping investment companies in India regulate their efforts to meet social goals.
MICROCAPITAL BRIEF: Eastern Caribbean Central Bank Promotes Entrepreneurship Through 20-week Startup Design Course, Supports “Small Business Credit Guarantee Scheme”
The Eastern Caribbean Central Bank (ECCB), the monetary authority of six Caribbean nations including Antigua and Barbuda, in partnership with the Antigua Barbuda Investment (ABI) Bank, a private bank founded in 1990, recently hosted a 20-week entrepreneurship course in the country of Antigua and Barbuda aimed at helping aspiring entrepreneurs to improve their presentation and business plan development skills.