The European Fund for Southeast Europe (EFSE), which is advised by German firm Finance in Motion, recently disbursed a subordinated loan of approximately EUR 15 million (USD 19.4 million) to Turkish commercial bank Sekerbank.
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MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $1.5m to FINCA Jordan to Boost Microfinance Services
The Sanad Fund for MSME (Micro-, Small a Medium-Sized Enterprise), an initiative of KfW Entwicklungsbank that provides medium- and long-term debt and equity to financial institutions in the Middle East, recently made a local-currency loan equivalent to USD 1.5 million to FINCA Jordan Specialized Microloans, a Jordanian microfinance institution (MFI) that is part of the US-based FINCA International microfinance network.
MICROCAPITAL BRIEF: LeapFrog Takes 15% Stake in Mahindra Insurance Brokers for $15m in Effort to Boost Impact in Rural India
LeapFrog Investments, a for-profit private equity fund that invests in microinsurance, recently made its second investment in India in the past year by taking a 15-percent equity stake in Mahindra Insurance Brokers Limited (MIBL), an Indian insurance brokerage firm dedicated to serving rural Indians.
MICROCAPITAL BRIEF: Intellecap’s IntelleCash Microfinance Network Purchases 56% Stake in Arohan Financial Services of India
IntelleCash Microfinance Network, a subsidiary of the India-based social-sector advisory firm Intellectual Capital Advisory Services (Intellecap), reportedly has purchased a 56-percent stake in Arohan Financial Services, an Indian microfinance institution (MFI), for INR 520 million (USD 10 million).
MICROCAPITAL BRIEF: Citibank Indonesia, Overseas Private Investment Corporation Share Risk on $18m Loan to Bank Andara to Support Microfinance Institutions
Citibank Indonesia, a branch of US-based financial services conglomerate Citigroup; the Overseas Private Investment Corporation (OPIC), a US–based development finance institution; and Bank Andara, an Indonesian company that provides wholesale services to microfinance institutions (MFIs) and savings services to individuals, have announced the disbursement of a USD 18.5 million term loan to finance the growth of Bank Andara’s wholesale microfinance lending.
MICROCAPITAL BRIEF: ResponsAbility Invests $1.9m in Advans of Cameroun, $1.2m in MicroCred of Senegal
ResponsAbility Social Investments, a Swiss investment company, recently disbursed the approximate equivalent of USD 1.9 million in subdebt to Advans Cameroun and the equivalent of USD 1.2 million in debt to MicroCred Senegal.
MICROCAPITAL BRIEF: Bellwether Microfinance Fund, Michael & Susan Dell Foundation Sell Shares in Ujjivan of India to Lok Capital of Mauritius, Undisclosed Social Investor
Ujjivan, a microfinance institution (MFI) based in Bangalore, India, is currently experiencing a churn of investors.
MICROCAPITAL BRIEF: BlueOrchard Finance Appointed Fund Manager of Microfinance Initiative for Asia (MIFA) Debt Fund
BlueOrchard Finance SA, a Switzerland-based microfinance intermediary, recently was appointed Fund Manager for the Microfinance Initiative for Asia (MIFA) Debt Fund.
MICROCAPITAL BRIEF: World Bank Releases Government Electronic Payment Program Guidelines
The World Bank Group, a US-based institution whose aim is to reduce poverty, recently released a report titled “General Guidelines for the Development of Government Payment Programs” that aims to assist governments and other stakeholders in developing efficient electronic government-payment systems.
MICROCAPITAL BRIEF: MFTransparency Partners with Planet Rating, Microfinance Institutions Network (MFIN) of India to Improve Pricing Transparency
MFTransparency, a US-based nongovernmental organization (NGO), recently partnered with Planet Rating, a microfinance rating agency that is a member of the France-based PlaNet Finance Group, and Microfinance Institutions Network (MFIN), a trade association of microlenders in India.
MICROCAPITAL BRIEF: Taiwanese Banks Taishin, Chinatrust, SinoPac, Cosmos to Enter Chinese Microcredit Sector
Several Taiwanese banks reportedly have expressed interest in establishing microcredit companies in China after Taiwan’s Financial Supervisory Commission (FSC) relaxed regulations on such cross-border financial operations in July 2012.
MICROCAPITAL BRIEF: Financial Information Network and Operations (FINO) of India Looks to Boost Financial Inclusion in Nigeria in Partnership With ZaaEdge Resources
Financial Information Network and Operations (FINO), an India-based for-profit technology provider, and ZaaEdge Resources Limited, a for-profit company that aims to promote financial inclusion technology in Nigeria, have entered into a partnership with the goal of improving financial inclusion in Nigeria.
MICROCAPITAL BRIEF: Philippine Banking Network Reaches 9,050, Including “Branchless” Service Locations
Pawnshops, pharmacies and other storefronts are increasing financial inclusion in the Philippines by offering services such as bill payment and remittances.
MICROCAPITAL BRIEF: National Microfinance Bank Offers Receipt Financing System to Tanzanian Coffee Growers
The National Microfinance Bank, a government-backed microfinance institution (MFI) in Tanzania, reportedly has reintroduced a warehouse receipt system of financing that will allow coffee farmers to use their product as collateral to receive loans.
MICROCAPITAL BRIEF: Department of Trade and Industry to Allocate $66.8m for On-Lending via MFIs, Capacity Building for MSMEs in the Philippines
The Philippine Department of Trade and Industry (DTI) reportedly has released its budget proposal for 2013, which includes a PHP 2 billion (USD 47.8 million) incentive fund for microfinance institutions (MFIs) and a PHP 800 million (USD 19 million) capacity-building program for micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: “Plus” of Bosnia and Herzegovina to Offer Debt Counseling Services, Financial Education to Microfinance Clients in Sarajevo
Formerly known as the Centre for Financial and Credit Counselling, the Association for Responsible Personal Finance Management, a nonprofit debt counseling organization also known as “Plus”, has recently opened an office in Sarajevo, Bosnia and Herzegovina.
MICROCAPITAL BRIEF: India’s Financial Information Networks and Operation (FINO) Purchases Mobile Payment Business from Nokia
Financial Information Networks and Operation (FINO), an Indian for-profit technology provider to microbanks and other financial service providers, reportedly has purchased the Indian mobile payment services business of Nokia, a Finnish handset provider, for an undisclosed amount of cash.
MICROCAPITAL BRIEF: Sagamore to Place $22m in Equity In Accion Microfinance China, Taking 70% Stake
Accion, a US-based nonprofit organization, recently announced an equity investment of CNY 140 million (USD 21.9 million) made by China-based Sagamore Investments in Accion Microfinance China (AMC).