Citigroup (Citi), a US-based financial services corporation, and the Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, reportedly have partnered to deliver USD 200 million to Citi’s local and multinational corporate and financial institution clients [1].
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: Blue Label Telecoms, MasterCard Partner to Provide Point-of-Sale Devices (POS) to Rural Shops in South Africa
Blue Label Telecoms Limited (Blue Label), a South Africa-based distributor of financial transaction services, and MasterCard, a US-based payments and technology company, are partnering to provide 22,000 small traders and rural shop owners in South Africa with point-of-sale (POS) devices that will allow businesses currently operating on a cash-only basis to accept card payments [2]. Blue Label set up POS terminals throughout South Africa, but the partnership with MasterCard will allow the distributor to reach more small- and medium-sized retailers and service providers.
MICROCAPITAL BRIEF: Microlending Platform Kubaru Partners with Action Grace Divine to Support Entrepreneurs in Burkina Faso
Kubaru, a UK-based nonprofit microfinance lending platform, recently partnered with Action Grace Divine (AGD), a microfinance institution in Burkina Faso, to provide funding for microentrepreneurs in Burkina Faso.
MICROCAPITAL BRIEF: Bharti Airtel, MicroEnsure Launch Mobile Microinsurance Service in Africa
Bharti Airtel, an Indian telecommunications services provider with operations in 150 countries, has partnered with MicroEnsure, a UK-based nonprofit microinsurance intermediary, to provide MicroEnsure’s microinsurance services to Airtel customers in Africa via mobile phone.
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loans $50m to AccessBank of Azerbaijan for Micro-, Small, Medium-sized Enterprises in Rural Areas
AccessBank, an Azerbaijani for-profit microfinance institution (MFI), recently notified MicroCapital that the Asian Development Bank (ADB), a multilateral finance institution based in the Philippines, will provide a USD 50 million five-year senior loan facility to AccessBank.
MICROCAPITAL BRIEF: Bank for Agriculture and Agricultural Co-operatives, Habitat for Humanity Thailand, Citi Foundation Launch “Microsavings Program for Home Improvement”
Executive Vice President Somsak Kangteerawat of the Bank for Agriculture and Agricultural Co-operatives (BAAC), a government-owned bank in Thailand that extends credit to farmers, and Board Chairman Piriyah Wisedjinda of Habitat for Humanity (HFH) Thailand, a branch of the US-based NGO HFH International, have signed a memorandum of understanding establishing the “Microsavings Program for Home Improvement”, which is intended to support home improvements for low-income families living in areas of Thailand that are prone to flooding.
MICROCAPITAL BRIEF: Gemalto Provides Biometric Smart Cards for “Prime Cash” Branchless Banking in Bangladesh
Gemalto, a digital security company based in the Netherlands, has developed a smart card-based system for two Bangladeshi businesses: Prime Bank Limited, a commercial bank founded in 1995, and Dipon Consultancy Services Limited (DCSL), a member of the Bangladesh-based conglomerate Dipon Group. The system will support the branchless banking service known as Prime Cash, which was established by the two firms in 2012.
MICROCAPITAL BRIEF: G20’s Global Partnership for Financial Inclusion Publishes Data on 192 Countries
The Global Partnership for Financial Inclusion (GPFI), which is mandated to carry out the financial inclusion action plan endorsed at the 2010 summit of the Group of 20 (G20) large economies, has released a set of “basic” financial inclusion indicators populated with data from 192 countries.
MICROCAPITAL BRIEF: Social Performance Task Force (SPTF) Calls for Survey Submissions by April 5, 2013
The Social Performance Task Force (SPTF), a working group initiated in 2005 by a group of NGOs based in the US and Switzerland, is calling for microfinance industry professionals to fill out an online survey intended to identify what social performance management practices are being implemented throughout the microfinance industry, what challenges exist in implementing these policies and what additional resources institutions need to achieve their social performance goals more effectively.
MICROCAPITAL BRIEF: Bridge Launches with $24m from Accion, Bamboo Finance, DEG, FMO, Paul Kocourek to Support Rural, Thrift Banks in the Philippines
Bridge, a financial services company that plans to provide “capability building services and capital” to rural and thrift banks that focus on low-income populations and micro- and small businesses in the Philippines, recently announced its launch with equity investments totaling USD 24 million from Accion, a US-based nonprofit organization; Bamboo Finance, a Luxembourg-based commercial investment firm; Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution; the Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Dutch public-private development bank; and Mr Paul Kocourek, Bridge’s co-founder and chairman.
MICROCAPITAL BRIEF: IFC, Global Agriculture and Food Security Program Invest $10m in Root Capital for Farmers in Africa, Latin America
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the private-sector office of the Global Agriculture and Food Security Program (GAFSP), a multilateral mechanism established by the G20 group of 20 large economies, have announced that each of the organizations will invest USD 5 million in Root Capital, a US-based nonprofit social investment fund.
MICROCAPITAL BRIEF: Netherlands Development Finance Company (FMO) Donates $211k to Incofin Investment Management of Belgium to Renew Capacity Development Facility
Incofin Investment Management, a Belgian fund management company, and the Netherlands Development Finance Company (FMO), a public-private development bank founded in 1970, recently signed the fourth capacity development agreement stemming from their partnership that was launched in 2008 to strengthen a total of 14 microfinance institutions (MFIs) worldwide.
MICROCAPITAL BRIEF: Bank for International Settlements Global Partnership for Financial Inclusion Conference Emphasizes Minimizing Regulation For Smaller Transactions
The Financial Stability Institute of the Bank for International Settlements (BIS), an international financial institution based in Basel, Switzerland, which aids central banks in their pursuit of monetary and financial stability, recently hosted its first Global Partnership for Financial Inclusion (GPFI) Conference with the theme “Promoting financial inclusion through proportionate standards and guidance.”
MICROCAPITAL BRIEF: Bangladesh Bank (BB) to Introduce Agent Banking
Bangladesh Bank (BB), the central bank of Bangladesh, reportedly will allow agent banking for services such as deposits, cash withdrawal, fund transfers, bill payment, remittances and receiving salary and government payments.
MICROCAPITAL BRIEF: BlueOrchard Finance, Belgian Investment Company for Developing Countries (BIO), Opportunity International Announce New CEOs
BlueOrchard Finance SA, a Swiss microfinance investment manager; Belgian Investment Company for Developing Countries (BIO), a public-private partnership established by the Belgian government; and Opportunity International, a US-based nonprofit organization, all recently announced new CEOs.
MICROCAPITAL BRIEF: ResponsAbility Invests $6.3m in Financiera Crear of Peru, Ecofuturo of Bolivia
ResponsAbility Social Investments, a Swiss investment company, recently issued loans totaling USD 6.3 million to microfinance institutions (MFIs) in Peru and Bolivia.
MICROCAPITAL BRIEF: Faulu Kenya, Airtel Form Partnership to Offer Mobile Credit
Faulu Kenya, a microfinance institution (MFI) based in Nairobi, Kenya, is now offering mobile credit to customers of the Kenyan arm of Airtel, an Indian telecommunications company.
MICROCAPITAL BRIEF: South Korea Donates $1m to International Finance Corporation (IFC) to Support Small and Medium-sized Enterprises
The Korean Ministry of Strategy and Finance (MOSF) has signed an agreement with the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, to provide USD 1 million to support programs for small and medium-sized enterprises (SMEs) in emerging markets.