The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, reportedly has approved a USD 2.5 million equity investment in El Fondo para el Desarrollo, Inc. (FONDESA), a nonprofit microfinance institution in the Dominican Republic. The investment is intended to help FONDESA acquire status as a regulated microfinance institution under the new name Banco de Ahorro y Crédito FONDESA (BANFONDESA).
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MICROFINANCE PAPER WRAP-UP: “2012 Eastern Europe and Central Asia Regional Snapshot”; by Ralitsa Sapundzhieva and Agharazi Babayev; published by Microfinance Information Exchange
By Ralitsa Sapundzhieva and Agharazi Babayev, published by Microfinance Information Exchange, January 2013, 27 pages, available at: http://www.themix.org/publications/mix-microfinance-world/2013/01/2012-eastern-europe-and-central-asia-regional-snapshot
This Microfinance Information Exchange (MIX) report reviews the performance of microfinance institutions (MFIs) in Eastern Europe and Central Asia (ECA).
MICROCAPITAL BRIEF: Symbiotics Disburses $10m Syndicated Loan to Fundacion de la Mujer Bucaramanga of Colombia
Symbiotics Investment Group, a Swiss for-profit microfinance investment intermediary, recently disbursed a USD 10 million syndicated loan to Fundacion de la Mujer Bucaramanga, a microfinance institution (MFI) in Colombia.
MICROFINANCE PUBLICATION ROUND-UP: Banking on Change Partnership for Financial Inclusion in Africa; Findings on Financial Inclusion in Nigeria; Snapshot of Microfinance in Latin America and the Caribbean
“Banking on Change: Breaking the Barriers to Financial Inclusion;” published by Plan UK, Barclays and Care International UK; January 2013; 28 pages; available at: http://www.careinternational.org.uk/research-centre/microfinance/251-banking-on-change-breaking-barriers-to-financial-inclusion
MICROCAPITAL BRIEF: Citigroup Launches Citi Mobile Collect in the Dominican Republic
The US-based financial service provider Citigroup reportedly has made its Citi Mobile Collect payment program available in the Dominican Republic.
MICROCAPITAL BRIEF: One Woman Initiative, Opportunity International Partner to Raise $50m for Microloans to Women
The One Woman Initiative (OWI), a US-based organization that focuses on empowering women, has come under the umbrella of Opportunity International, a US-based nonprofit organization with a focus on microfinance.
MICROCAPITAL BRIEF: Citigroup Loans $2m to Microfinance Institution (MFI) Tamweelcom of Jordan
US-based financial service provider Citigroup recently informed MicroCapital that it has issued a local-currency loan equivalent to USD 2 million to Tamweelcom, a Jordanian nonprofit microfinance institution (MFI), to support the growth of its loan portfolio.
MICROFINANCE EVENT: Center for Financial Inclusion, Visa, Citi to Host Webinar on “Financial Inclusion 2020”
Event Name: Webinar: Call to Action – Full Financial Inclusion by 2020
Event Date: February 7, 2013, 10:00 AM – 11:00 AM Eastern US Time
Event Location: Online
MICROCAPITAL BRIEF: Center for Financial Inclusion at Accion, Citi, Visa Announce Launch of Financial Inclusion 2020 Initiative, to Convene Forum in London in October
The Center for Financial Inclusion at Accion (CFI), established in 2008 as a branch of the US-based nonprofit Accion, together with US-based financial service providers Citi and Visa, recently announced the launch of Financial Inclusion 2020 (FI2020), an initiative designed to promote increased financial access for people worldwide.
MICROCAPITAL BRIEF: 15 Caribbean Microfinance Institutions to Benefit from $2m Phase Two of Caribbean Microfinance Capacity Building Project (CARIB-CAP II)
Fifteen microfinance institutions in the Caribbean have recently become beneficiaries of a USD 2.7 million technical cooperation fund that will provide customized staff training programmes.
MICROFINANCE EVENT: Citi, Pearson Foundations; Financial Times Host 9th Citi-FT Financial Education Summit, December 5-6, 2012, Manila, Philippines
Event Name: Financial Capability as a 21st Century Life Skill
Event Date: December 5-6, 2012
Event Location: Makati Shangri-La Hotel, Manila, Philippines
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: India’s Ujjivan Raises $9m in Equity from International Finance Corporation (IFC), Netherlands Development Finance Company (FMO)
Ujjivan Financial Services, a microfinance institution (MFI) based in India, recently raised INR 450 million (USD 8.55 million) in equity capital from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group.
MICROCAPITAL BRIEF: Milaap, e27 to Launch Crowdfunded Entrepreneurship Fund for Microenterprise in India
Milaap, an online microlending platform with offices in Singapore and Bangalore, India, reportedly has partnered with e27, a Singapore-based media organization, to launch a crowdfunded entrepreneurship development fund with a target size of SGD 50,000 (USD 40,700).
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Trends in Latin America and the Caribbean; Livestock Insurance in India; Using “Digital Footprints” to Boost Financial Inclusion
“Latin American and the Caribbean Microfinance Market Trends 2006-2011;” by Renso Martinez Ramirez; published by Microfinance Information Exchange; June 2012; 22 pages; available at: http://www.themix.org/publications/mix-microfinance-world/2012/06/latin-american-and-caribbean-microfinance-market-trends-
MICROFINANCE EVENT: Asian Development Bank, Innovations for Poverty Action, Abdul Latif Jameel Poverty Action Lab Present “Impact and Policy Conference: Evidence in Governance, Financial Inclusion, and Entrepreneurship”, Bangkok, Thailand, August 30-September 1, 2012
Event Name: Impact and Policy Conference: Evidence in Governance, Financial Inclusion, and Entrepreneurship
MICROCAPITAL BRIEF: Citigroup Wins 2012 Business in the Community International Award for Excellence, for Microfinance Partnership with Overseas Private Investment Corporation
Citigroup, a US-based bank, has won the International Award of the fifteenth edition of the Awards for Excellence, the corporate responsibility awards offered by the Prince of Wales’ charity Business in the Community.
MICROCAPITAL BRIEF: USAID, Citi to Bring Mobile Money Technology to Colombia, Haiti, Indonesia, Kenya, the Philippines
The US Agency for International Development (USAID) and Citi, a US-based bank, recently announced a partnership that will focus on increasing financial inclusion in developing countries through “mobile money” technology.