responsAbility Social Investments AG (responsAbility), a social investment company founded in 2003 in Switzerland, reported to MicroCapital that it made four debt investments during the month of August totaling EUR 2 million (USD 2.5 million) to microfinance institutions (MFIs) Foundation for International Community Assistance (FINCA) Kosovo and fondiBESA of Albania.
Search Results for: finca
MICROCAPITAL BRIEF: Triple Jump Disperses Total of $6.5m to Microfinance Banks Procredit Bank of Macedonia, FINCA Azerbaijan, Crezcamos of Colombia and Fundacion Campo of El Salvador
Triple Jump, a microfinance fund manager based in the Netherlands and established in 1998, recently reported to MicroCapital that one of the five funds it manages, ASN-Novib Fund, has executed debt investments totaling USD 6.5 million in four microfinance banks [1]. The largest amount, USD 2.5 million, went to Procredit Bank of Macedonia, a Macedonian bank founded in 2003 with a gross loan portfolio of USD 185 million [2].
MICROCAPITAL BRIEF: Global Security Company Lockheed Martin Gives $30,000 to Support the Efforts of the Microfinance Organization FINCA
Lockheed Martin, a global security company based in the US state of Maryland, has given a USD 30,000 grant to support the microfinance efforts of the Foundation for International Community Assistance (FINCA) [1]. Established in 1984, FINCA is a global microfinance network, which serves approximately 700,000 people through its subsidiaries in 21 countries [2]. The funding from Lockheed Martin will help provide loan capital for FINCA’s clients in Afghanistan and El Salvador and will support FINCA Haiti’s relief fund efforts following the January 12th earthquake.
MICROCAPITAL BRIEF: Dr John Hatch, Founder of FINCA International, Discusses the Role of Microfinance in Disaster and Conflict Zones
In a recent interview on the Microfinance Focus website, Dr John Hatch, founder of FINCA International, a global microfinance network serving 700,000 people, discusses the successes of microfinance and FINCA’s experiences in disaster and conflict zones.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $4m Synthetic Loan to FINCA to Support Micro- and Small Enterprises in Armenia
The European Bank for Reconstruction and Development (EBRD), an international finance institution, has made a synthetic loan in Armenian drams (AMD) equivalent to USD 4 million to FINCA Universal Credit Organization Closed Joint Stock Company (FINCA Armenia), a non-bank credit organization serving micro- and small enterprises (MSEs).
MICROCAPITAL BRIEF: Microfinance Group FINCA, Deutsche Bank Announce $21m Sub-Debt Deal
FINCA International and Deutsche Bank have secured capital commitments of USD 21.2 million from private-sector investors for the FINCA Microfinance Fund BV. The offering will support on-lending and infrastructure development for FINCA affiliates in the Democratic Republic of Congo, Mexico and Central Asia. Investors in the fund include pension funds and socially-oriented private investors.
FINCA International reports 730,000 clients in 21 countries with an average loan size of USD 503.
MICROCAPITAL.ORG STORY: responsAbility Global Microfinance Fund Makes Debt Investment of $2.5m in FINCA Azerbaijan
According to the CGAP Microfinance Dealbook, responsAbility Global Microfinance Fund recently made a debt investment of $2.5m in FINCA Azerbaijan. [1]
MICROCAPITAL STORY: Microfinance Institutions Lazika Capital, Alliance Group, CREDO, Crystal, FinAgro, Finca and Constanta Bank of Georgia Receive Grants from the United Nations Development Program (UNDP) and European Union (EU); Total Project cost $2.6m
Six microfinance institutions (MFIs), Lazika Capital, Alliance Group, CREDO, Crystal, FinAgro and Finca, and Constanta Bank have been selected to receive grants from a joint project funded by the United Nations Development Program (UNDP) and European Union (EU). The seven organizations were selected based on their current loan portfolios, experience in the target region and reporting to the MIX Market, the microfinance information clearinghouse. Each organization will receive USD 99,000 in the first tranche of funding. The total cost of the project is USD 2.6 million and is part of the UNDP early recovery program for Georgia which received EUR 4.4 million (USD 6.1 million) in funding from the EU.
MICROCAPITAL STORY: CGAP, Dell Foundation, Ford Foundation and MIX Market Announce New Social Performance Reporting Award Winners AMK, FINCA Peru, Prisma Peru and Asasah
The winners of a new Social Performance Reporting Award were announced at the Annual Social Performance Task Force Meeting in Madrid, Spain. AMK in Cambodia, FINCA Peru, and Prisma Peru received the Gold Award, and Asasah from Pakistan received the Silver Award.
MICROCAPITAL EVENT: 4th Annual Microfinance Symposium – From Information to Innovation: Harnessing Social Data to Empower Change Co-Hosted by the Foundation for International Community Assistance (FINCA International) and John Templeton Foundation Preceded by a Microfinance Career Event Hosted by Women Advancing Microfinance (WAM) and Johns Hopkins’ School of Advanced International Studies (SAIS)
ANNUAL MICROFINANCE SYMPOSIUM- FROM INFORMATION TO INNOVATION: HARNESSING SOCIAL DATA TO EMPOWER CHANGE
APRIL17, 2009, WASHINGTON, DC
MICROCAPITAL STORY: Code of Ethics Signed at Jordanian Government Ceremony by Local MFIs Microfund for Women, Alwatani, Al-Ahli Microfinance Company, Tamweelcom, Middle East Microcredit Company (MEMCO), FINCA-Jordan, and the Development and Employment Fund (DEF)
Figures released by Jordan’s Planning Ministry indicate that over 120,000 citizens have borrowed from local microfinance institutions (MFIs) with loans outstanding at JD 65 million, the dollar equivalent of over USD 91 million. Specifically, 7 Jordanian MFIs were recognized at a Ministry ceremony where each signed a code of ethics governing this joint effort.
MICROCAPITAL STORY: General Electric Consumer Finance (GE Money), based in London, supports FINCA Village Banking, based in Washington DC, with USD 1.5 million Grant
General Electric Consumer Finance (GE Money) has made a three-year commitment worth USD 1.5 million to support FINCA’s (Foundation for International Community Assistance) Village Banking Campaign. Founded in 1984, FINCA’s Village Banking aims to reach 1 million of the world’s lowest-income entrepreneurs by the end of 2010. During 2008, FINCA will use the first USD 500,000 installment of the funding to expand in Middle East, Africa, Eurasia and Asia.
MICROCAPITAL STORY: FINCA Azerbaijan to Increase Microlending to Farmers
FINCA Azerbaijan has announced plans to increase microlending to farmers in an effort to support food security in the face of an emerging world food shortage. Currently, 30 percent of the nonprofit’s loan portfolio represent agricultural microenterprises, about USD 17 million. In his statement announcing the plan, FINCA Azerbaijan Director Jeff Flowers indicated that the increase in farm crediting is intended to ensure food security, but he did not offer any projections on the size of the increase.
MICROCAPITAL STORY: Dual Return Loans $1m to FINCA Armenia
In its list of recent transactions, CGAP (Consultative Group to Assist the Poor) reported that Austrian investment firm Dual Return loaned USD 1,000,000 through its Vision Microfinance Fund to nonprofit microlender FINCA Armenia.
MICROCAPITAL STORY: responsAbility Global Microfinance Fund (rAGMF) of Luxembourg Lends a Total of $3.25m to the Foundation for International Community Assistance (FINCA) in Azerbaijan, Kyrgyzstan, and Georgia
The Consultative Group to Assist the Poor (CGAP) reports in its list of recent transactions that the responsAbility Global Microfinance Fund (rAGMF) financed USD 750,000 in loans to the Foundation for International Community Assistance Azerbaijan (FINCA Azerbaijan) on February 27, 2008, USD 1 million to FINCA MicroCredit Company (FMCC) of Kyrgyzstan on March 17, 2008, and USD 1.5 million to FINCA Georgia on March 19, 2008. The transaction to FINCA Azerbaijan is not to be confused with a separate responsAbility Microfinance Leaders Fund (rAMLF) loan taking place on the same date for the exact same amount, which was reported on by MicroCapital here.
NEWS WIRE: Azerbaijan: Local FINCA Microfinance Institution to Convert to Bank
Source: Abc.az.
MICROCAPITAL STORY: Cordaid of the Netherlands Loans $559k to Latin American Microfinance Institution FINCA Honduras
CGAP (Consultative Group to Assist the Poor) reported in its recent list of transactions that Cordaid (Catholic Organization for Relief and Development AID), a Dutch development organization, lent USD 559,017 to FINCA Honduras, a Latin American microfinance institution (MFI) under the FINCA (Foundation for International Community Assistance) network.
MICROCAPITAL STORY: Finethic Microfinance S.C.A. of Luxembourg Lends $1m to Microfinance Institution (MFI) FINCA Armenia and $1m to MFI FINCA Kyrgyzstan
The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) reports that Finethic Microfinance S.C.A., a Luxembourg-based microfinance investment company, has issued loans of USD 1 million to microfinance institution (MFI) FINCA Armenia and USD 1 million to MFI FINCA Kyrgyzstan.