The Inter-American Development Bank (IDB), a US-based multilateral finance institution, has approved a USD 50 million loan to expand access to microcredit in Ecuador, particularly among low-income women.
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MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Group’s Multilateral Investment Fund (MIF) to Loan $7m to Root Capital and Microfinance Institutions FIDERPAC of Costa Rica, ASDIR of Guatemala; Announces $7m Equity Investment in CoreCo Central America I Fund; Rolls Out Psychometric Risk Assessment Tool
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, recently announced it will lend USD 4.9 million to US-based Root Capital, provides capital, financial education and market connections to small and growing businesses in Latin America and Africa [1].
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Syndicates $19m Loan for Municipal Marketplaces in El Salvador with Participation from Oikocredit, VDK Spaarbank, Bank Im Bistum
The Inter-American Development Bank (IDB), a US-based development finance institution, announced that it recently closed a USD 19 million syndicated loan with participation from Dutch cooperative Oikocredit, VDK Spaarbank of Belgium and Bank Im Bistum Essen of Germany to upgrade municipal marketplaces in El Salvador.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Launches Spanish Language “Microfinance in Latin America” Blog
The Inter-American Development Bank (IDB), a US-based multilateral financial institution, has launched the Spanish language “Microfinance in Latin America” blog in an effort to explore the role of microfinance in financial inclusion in Latin America and the Caribbean.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Group’s Multilateral Investment Fund (MIF) Approves $4.9m Package for Root Capital to Support Sustainable Agriculture in Honduras, Guatemala, Nicaragua
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, recently announced a USD 4.9 million loan and technical assistance package for Root Capital, a US-based nonprofit social investment fund that serves agricultural businesses that are considered too small and risky for mainstream banks and too large for microfinance funding.
MICROCAPITAL BRIEF: IDB Provides Partial Credit Guarantee to Patrimonio Hoy Microfinance Program of Mexico’s CEMEX to Boost Lending in Mexico, Colombia, Costa Rica, Nicaragua, Dominican Republic
The Inter-American Development Bank (IDB), a US-based development finance institution, will provide USD 10 million as a partial credit guarantee to Patrimonio Hoy, a microfinance initiative of Mexico-based building materials supplier CEMEX.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) President Urges Commercial Banks in Peru to Focus on Microfinance
President Alberto Moreno of the Inter-American Development Bank (IDB), a multilateral development financial institution, recently expressed satisfaction with the health and growth of the Peruvian financial system, but reiterated the need for extending financial services to the poorest people.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Establishes “Flexible Financing Facility” for Countries in Latin America, Caribbean
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, has established a “Flexible Financing Facility” (FFF) that will give Latin American and Caribbean countries flexibility in loan terms and conditions as well as allowing the use of hedges to manage interest rate and currency risks associated with loans from IDB [1].
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB), Multilateral Investment Fund (MIF), Andean Development Corporation (CAF), Global System for Mobile Communications Association (GSMA) Call for Proposals for “Technologies for Financial Inclusion Program”
Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean; Multilateral Investment Fund (MIF), an autonomous fund administered by IDB; Andean Development Corporation (CAF, in Spanish), a multilateral financial institution based in Venezuela; and Global System for Mobile Communications Association (GSMA), an organization representing approximately 750 cell phone operators, have issued a call for proposals as part of the launch of the second Technologies for Financial Inclusion Program [1].
MICROCAPITAL BRIEF: Small Industries Development Bank of India (SIDBI) Chairman Sushil Munhot Discusses Financing Small- and Medium-Sized Enterprises (SMEs), Hold On New Lending to Microfinance Institutions (MFIs)
Mr Sushil Munhot, chairman and managing director of the government-owned Small Industries Development Bank of India (SIDBI), recently argued in an interview with Indian newspaper The Economic Times that SIDBI complements commercial banks while also offering the added value of providing equity funding to small- and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB), Association of Supervisors of Banks of the Americas (ASBA) Publish “Guidelines of Principles for Effective Regulation and Supervision of Microfinance Operation” in Support of Transparency and Client Protection
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, and the Association of Supervisors of Banks of the Americas (ASBA), an association of pubic and private financial institutions in the western hemisphere and Spain, recently published “Guidelines of Principles for Effective Regulation and Supervision of Microfinance Operation.”
MICROCAPITAL BRIEF: Indian Budget Plans Include Partnering with Small Industries Development Bank of India (SIDBI) to Create $22m India Microfinance Equity Fund
The Indian government began review of a draft 2011-2012 budget, which reportedly includes a partnership with the Small Industries Development Bank of India (SIDBI), a government-owned bank providing credit to microfinance institutions, to allocate funds totaling approximately INR 100 crore (USD 22 million) to traditionally underserved groups via a newly established India Microfinance Equity Fund.
MICROCAPITAL BRIEF: For-profit Microfinance Institution (MFI) BASIX Group Negotiating $166m Loan from Consortium of Banks Led by Small Industries Development Bank of India (SIDBI)
BASIX Group, a for-profit microfinance institution (MFI) based in India, is currently involved in negotiations with a consortium of banks led by Small Industries Development Bank of India (SIDBI), an Indian government-owned bank providing credit to medium and large-scale MFIs, to receive a INR 7.5 billion (USD 166 million) loan largely intended to restructure the existing debt of BASIX.
MICROCAPITAL BRIEF: In Partnership with BlueOrchard and responsAbility Social Investments AG, Inter-American Development Bank (IDB) Syndicates $40m to Banco Continental of Paraguay to Support Small and Medium-Sized Enterprises (SMEs)
The Inter-American Development Bank (IDB), a US-based multilateral development organization operating in Latin America and the Caribbean, recently finalized a USD 40 million syndicated loan to Banco Continental, a commercial bank established in Paraguay in 1980, to help fund lending to small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB), Oikocredit, Incofin, Calvert Foundation Make Syndicated Loan of $9m to Cooperativa de Ahorro y Crédito (COAC) Jardín Azuayo of Ecuador
The Inter-American Development Bank (IDB), a US-based, multilateral, development finance organization, recently announced that it has syndicated a USD 9 million loan to Cooperativa de Ahorro y Crédito (COAC) Jardín Azuayo, a savings and credit cooperative in Ecuador. USD 3 million of the loan has been funded by IDB, the lead arranger in the transaction, through its “Opportunities for the Majority” initiative. The remaining USD 6 million was funded by the following three impact investors: Oikocredit, a Dutch cooperative investment fund that invested USD 3 million [2]; Incofin, a Belgian investment management firm that invested USD 2 million [3]; and Calvert Foundation, a private US foundation that invested the remaining USD 1 million [4].
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Makes $4m in Equity Investments in Solutiones de MicroFinanzas SA (Microserfin) of Panama, Banco ProCredit Honduras, enConfianza Microfinanciera of Mexico and $3.5m in Loans to Fondo de Desarrollo Regional (Fondesurco) of Peru, IFD Sembrar Sartawi of Bolivia
In January 2011, the Inter-American Development Bank (IDB) provided MicroCapital with data pertaining to debt and equity investments made during 2010 via the Multilateral Investment Fund (MIF) and the Social Entrepreneurship Program (SEP). The investments are covered by MicroCapital in three separate briefs.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) and Social Entrepreneurship Program (PES) of Inter-American Development Bank (IDB) Make $3.6m Debt Investment in Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras, Fondo de Desarrollo Comunal (FONDECO) of Bolivia, Fundacion de Apoyo Comunitario y Social del Ecuador (FACES), Alternativa Solidaria Chiapas (ALSOL) of Mexico
In January 2011, the Inter-American Development Bank (IDB) provided MicroCapital with data pertaining to debt and equity investments made during 2010 via the Multilateral Investment Fund (MIF) and the Social Entrepreneurship Program (SEP). The investments are covered by MicroCapital in three separate briefs.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Arranges $22m Syndicated Loan to Banco Pichincha of Ecuador for Housing, Microfinance, SME Lending
The Inter-American Development Bank (IDB), a multilateral finance organization established in 1959 that is based in the United States and operates in Latin America and the Caribbean, extended a USD 22 million syndicated loan to Banco Pichincha, an Ecuadorian commercial bank.