Since the Indian government released a draft microfinance bill in July 2011, commercial banks and private equity investors reportedly have expressed a new willingness to consider investing in microfinance institutions (MFIs).
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MICROCAPITAL BRIEF: MFTransparency, Mozambican Association of Microfinance Operators (AMOMIF) Launch Transparent Pricing Initiative in Mozambique
MFTransparency, a US-based nongovernmental organization that provides information on credit products and pricing, recently announced plans to expand its Transparent Pricing Initiative to Mozambique with the objective of collecting and publishing pricing data for microfinance products offered in the country and providing financial literacy training to microfinance clients.
MICROCAPITAL BRIEF: responsAbility Loans $10.5m in Local Currency to ProCredit Affiliates in Ecuador, Mexico; Peruvian Microfinance Institutions Confianza, Crear Arequipa
responsAbility Social Investments AG (responsAbility), a Swiss asset management company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it made local-currency loans equivalent to the following amounts through its MIVs: USD 2 million to ProCredit Ecuador; USD 2.97 million to ProCredit Mexico; USD 2.05 million to Financiera Confianza and USD 3.5 million to Edpyme Crear Arequipa, the last two of which are microfinance institutions (MFIs) located in Peru.
MICROCAPITAL BRIEF: Indian Microfinance Institution Bhartiya Samruddhi Finance Limited (BSFL) Raises $150m from Institutional Investors, Commercial Banks
Bhartiya Samruddhi Finance Limited (BSFL), an Indian microfinance institution (MFI) and member of the BASIX Group of companies, has reportedly raised INR 7 billion (USD 150 million) in debt and equity commitments from institutional investors and commercial banks, in what has been described as a “lifeline” by BASIX chairman Vijay Mahajan.
MICROCAPITAL BRIEF: Microfinance Venture Capital Company Advans SA Wins $4m in Grants From Agence Française de Développement (AFD), Oesterreichische Entwicklungsbank AG (OeEB), Part for Democratic Republic of the Congo, Côte d’Ivoire
Advans SA SICAR (Advans SA), a venture capital company specializing in microfinance and managed by Horus Development Finance of France, recently announced the signature of grant agreements with Agence Française de Développement (AFD), a public bilateral development finance institution, and Oesterreichische Entwicklungsbank AG (OeEB), the development bank of Austria, worth a total of EUR 3.1 million (USD 4.4 million) [1].
MICROCAPITAL BRIEF: United Bank of India to Loan $22m to Microfinance Institution Bandhan Financial Services Amid “Opening Up of Bank Credit”
The government-owned United Bank of India (UBI), recently sanctioned a loan of INR 100 crore (USD 22.5 million) to Bandhan Financial Services, a microfinance institution (MFI) in India [1].
MICROFINANCE PAPER WRAP-UP: Financial Access: State of the Art in Nepal, by Nara Hari Dhakal, Published on the Microfinance Gateway
By Nara Hari Dhakal, published on the Microfinance Gateway; 2011; 8 pages; available at
http://www.microfinancegateway.org/p/site/m/template.rc/1.9.52121?cid=PS…
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to Microfinance Institution AccessBank Tajikistan
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, has agreed to make a four-year, local-currency loan of TJS 29 million (USD 6 million) to AccessBank Tajikistan, a bank that specializes in financial services for micro- and small enterprises (MSEs).
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) to Guarantee $500m in Loans to Microfinance Institutions (MFIs) for Lending to Small and Medium-Sized Enterprises (SMEs) in Egypt, Jordan; USAID to Fund Technical Assistance
The Overseas Private Investment Corporation (OPIC), a US government agency that supports private sector development, has approved USD 250 million in loan guarantee facilities each in Egypt and Jordan for local banks that lend to small and medium-sized enterprises (SMEs), microfinance institutions (MFIs), non-banking financial institutions (NBFIs) and “other approved borrowers.”
MICROCAPITAL BRIEF: responsAbility Loans $24m to Microfinance Institutions (MFIs) Inecobank, Agricultural Cooperative Bank of Armenia (ACBA), ACBA Leasing all of Armenia; DemirBank of Azerbaijan; Sekerbank of Turkey
responsAbility Social Investments AG, a Swiss investment company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totaling USD 24 million in microfinance institutions (MFIs) Inecobank, Agricultural Cooperative Bank of Armenia (ACBA) and ACBA leasing of Armenia; DemirBank of Azerbaijan; and Sekerbank of Turkey. The investments have been made through three MIVs: responsAbility Global Microfinance Fund (rAGMF), responsAbility Microfinance Leaders Fund (rAMLF) and responsAbility Mikrofinanz-Fonds.
MICROCAPITAL BRIEF: responsAbility Loans $27m to Microfinance Institution Prizma of Bosnia and Herzegovina; Russia’s Forus Bank, NBD Bank, FINCA Russia
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments worth the equivalent of USD 27.4 million in NBD Bank, a commercial bank in Russia, and three microfinance institutions (MFIs): Microcredit Foundation Prizma of Bosnia and Herzegovina; FINCA Russia; and Forus Bank, also of Russia.
MICROCAPITAL BRIEF: Kyrgyz Microfinance Institutions “Successfully Compete” with Banking Sector in Providing Access to Finance
President of Kyrgyzstan, Roza Otunbayeva, reportedly said at the recent Central Asian Microfinance Fair that microfinance institutions (MFIs) in Kyrgyzstan are emulating the banking sector in providing loans in the country.
MICROCAPITAL BRIEF: BlueOrchard Loans $1.1m in Local Currency to Cameroonian Microfinance Institution (MFI) Advans Cameroun
BlueOrchard Finance SA, a subsidiary of Switzerland-based BlueOrchard Microfinance Investment Managers, has announced that it will provide a local-currency loan of XAF 500 million (USD 1.1 million) to Advans Cameroun, a microfinance institution (MFI) operating in Cameroon.
MICROCAPITAL BRIEF: Climate Investment Funds (CIF) Forum Panelists: Microfinance Institutions (MFIs) Can Help Mitigate and Adapt to Climate Change
Government officials and executives from development institutions recently commented on the role that microfinance can play in helping poor and rural communities in developing countries address the ongoing problems associated with climate change at the recent Climate Investment Funds (CIF) 2011 Partnership Forum in Cape Town, South Africa.
MICROCAPITAL BRIEF: Mobile Finance Platform Fundamo, Bank Andara Aim to Extend Access to Financial Services to 40m in Indonesia
Mobile finance platform vendor Fundamo is aspiring to extend financial services to 40 million Indonesians in poor regions as part of a new partnership with Indonesia’s Bank Andara, a wholesale lender to microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Janalakshmi Raises $14m in Equity Led by Citi Venture Capital International (CVCI)
Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI), has raised INR 65 crores (USD 14 million) through a third round of equity capital fundraising. Citi Venture Capital International, a US-based private equity investor affiliated with Citigroup, has taken a “significant minority stake” in JFS that reportedly represents its first investment in India since 2008.
MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) KixiCrédito of Angola, Advans Ghana, Arnur Credit of Kazakhstan, Belarusian Bank for Small Business, Kompanion of Kyrgyzstan
Triodos Investment Management, a Netherlands-based manager of four microfinance investment funds, recently reported to MicroCapital that its funds have added five microfinance institutions (MFIs) to their portfolios; KixiCrédito of Angola; Advans Ghana Savings and Loans Limited of Ghana; Arnur Credit of Kazakhstan; Belarusian Bank for Small Business (BBSB) of Belarus; and Kompanion Financial Group Microfinance Closed Joint Stock Company of Kyrgyzstan.
MICROCAPITAL BRIEF: Central Bank of Nigeria’s (CBN’s) Cash Withdrawal Limit Expected to Impact Microfinance Institutions (MFIs)
The Central Bank of Nigeria (CBN) recently issued limits on daily cash withdrawals by individuals and corporate customers of NGN 150,000 (USD 962) and NGN 1 million (USD 6,417), respectively, effective June 1, 2012.