Several major lenders to microfinance institutions in India have agreed to set up a “Lenders’ Forum” to promote transparent, responsible and commercially sustainable industry practices and codes of conduct so as to better safeguard the interests of the unbanked who form their client base.
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MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) to Provide $5m Partial Credit Guarantee to Mexican Microfinance Institution Agrofinanzas for Supply Chain Financing
The Inter-American Development Bank (IDB), a US-based multilateral finance institution serving Latin America and the Caribbean, will be providing a partial credit guarantee of up to USD 5 million to Agrofinanzas, a Mexican microfinance institution focused on supply chain financing, to support small Mexican sunflower producers.
MICROCAPITAL BRIEF: Peruvian Microfinance Institution (MFI) Mibanco Receives $45m Syndicated Loan from Inter-American Development Bank (IDB), BlueOrchard, Oikocredit, the Calvert Foundation and Societe de Promotion et de Participation pour la Cooperation Economique (PROPARCO)
Peruvian microfinance institution (MFI), Mibanco, has received a loan package of USD 45 million, arranged by Inter-American Development Bank (IDB), allowing it to create a new credit program, Crecer Mi Negocio, which targets women entrepreneurs. The program will help finance medium-term loans ranging from a few hundred dollars up to USD 3,000 for the purchase of new fixed assets or otherwise financing existing businesses. The precise range of maturities indicated ‘medium-term’ has not been released to date.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Approves $150m to Strengthen Microfinance Institutions (MFIs) and Small Business Projects in Latin America and the Caribbean
The Inter-American Development Bank’s (IDB’s) Board of Executive Directors approved a loan and guarantees singular facility of USD 150 million to strengthen financial institutions in Latin America and the Caribbean to boost long-term financing to small business projects deemed to have a high social impact.
MICROFINANCE PAPER WRAP-UP: A Business to Call Her Own: Identifying, Analyzing and Overcoming Constraints to Women’s Small Businesses in Latin America and the Caribbean, by Jennifer Powers and Barbara Magnoni, Published by the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB)
By Jennifer Powers and Barbara Magnoni of EA Consultants, Published by the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB), April 2010, 100 pages, available at: http://idbdocs.iadb.org/wsdocs/getDocument.aspx?DOCNUM=35282406
The authors of this study focused on the differences between male and female entrepreneurs in six countries in Latin America: Guatemala, Nicaragua, Colombia, Bolivia, Mexico and Peru.
MICROCAPITAL BRIEF: In Jamaica, Inter-American Development Bank (IDB) Loans $450,000 to Microfinance Institution (MFI), Micro Credit Limited, IDB’s Gerard Johnson Urges Jamaican Government to Avoid Involvement
At a signing ceremony in Jamaica covered by The Gleaner, a Jamaican news publication, the Inter-American Development Bank (IDB) extended a loan of USD 450,000 to the microfinance institution (MFI) Micro Credit Limited. According to the article, Gerard Johnson argued during the ceremony that the Jamaican government is ill-equipped to deal with the financial needs of micro-businesses and often misdirects loans designated for MFIs. “This undermines non-government organizations,” he states. “The problem is access to these loans. The role of government should be to get persons to the point where they qualify for access.”
MICROCAPITAL BRIEF: The Inter-American Development Bank’s (IDB’s) Multilateral Investment Fund (MIF) to Provide $2m to Haitian Emergency Liquidity Program (HELP)
The Inter-American Development Bank (IDB), which reported total assets of USD 6.3 billion as of 2008, plans to provide up to USD 2 million to the Haiti Emergency Liquidity Program (HELP) under the Multilateral Investment Fund (MIF), which was founded in 1993 and reported total disbursements of USD 112 million in 2008.
MICROCAPITAL BRIEF: World Bank Approves $300m Loan to Small Industries Development Bank of India (SIDBI) and $107m to Indian Government to Improve Statistics
The World Bank has approved a USD 300 million loan from the Scaling Up Sustainable and Responsible Microfinance Project to the Small Industries Development Bank of India (SIDBI) and a USD 107 million loan from the Statistical Strengthening Loan Program to the national government of India [1].
MICROCAPITAL BRIEF: World Bank Approves $200m Loan to Small Industries Development Bank of India (SIDBI) For Microfinance Institutions (MFIs) in India
The World Bank’s Board of Executive Directors has approved a loan of USD 200 million to be given to the Small Industries Development Bank of India (SIDBI) for lending to microfinance institutions (MFIs) in India.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) Launches Inter-American Awards for Microenterprise Development 2010
In an effort to acknowledge the achievements of organizations supporting microenterprise development in Latin America and the Caribbean, the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) recently launched the Inter-American Awards for Microenterprise Development 2010.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) and Inter-American Investment Corporation (IIC), a Member of the Inter-American Development Bank (IDB), Provide $27m in Equity to QBE del Istmo Compañía de Reaseguros, a Panama-based Reinsurance Company, to Expand into Microinsurance and Health Insurance
The International Finance Corporation (IFC), the investment arm of the World Bank, and the Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) that helps small and medium-sized enterprises (SMEs) gain access to finance, will make equity investments totaling USD 27 million in QBE del Istmo Compañía de Reaseguros, a Panama-based reinsurance company, to cover new products such as microinsurance and health insurance as well as increase its capital base, improve corporate governance standards and expand operations.
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Provides $300m to Indian Guarantee Fund and Small Industries Development Bank of India (SIDBI) for Micro, Small, and Medium Enterprises (MSMEs)
The Asian Development Bank (ADB), a multilateral development bank, will provide a USD 50 million loan to the state-owned Small Industries Development Bank of India (SIDBI) for lending to micro, small and medium-sized enterprises (MSMEs) and a partial credit guarantee of up to USD 250 million for ADB’s Micro, Small and Medium Enterprise (MSME) Development Project, which will allow public sector commercial banks to obtain medium- to long-term funds to on-lend to existing MSME clients in India.
MICROCAPITAL BRIEF: Small Industries Development Bank of India (SIDBI) Takes 11% Stake in Microfinance Institution Bandhan for $10.7m
Bandhan Financial Services Private Limited, a Indian microfinance institution reports that it has completed its first major equity raise with a INR 500,000,000 (USD 10.7 million) investment from the government-backed Small Industries Development Bank of India (SIDBI).
MICROCAPITAL BRIEF: The Inter-American Development Bank (IDB) Approves $10m Credit Guarantee for Banco de Crédito e Inversiones (BCI), a Commercial Bank in Chile, for Lending to 80,000 Small Entrepreneurs
The Inter-American Development Bank (IDB), which provides multilateral financing in Latin America and the Caribbean, has approved a USD 10 million credit guarantee as part of a program from Banco de Crédito e Inversiones (BCI), a Chilean commercial bank, to provide loans to 80,000 small entrepreneurs [1,2,3]. The program will be carried out by BCI Nova Banca Emergente, BCI’s microfinance arm [1]. BCI will utilize credit histories and background information from some of its corporate clients that have microentrepreneurial client bases [1]. It will also utilize new management and credit technologies including electronic payments and online collection [1]. Additionally, the IDB’s Multilateral Investment Fund (MIF), an autonomous fund administered by the IDB, has provided a USD 600,000 grant to BCI to support training for lending staff [1]. The program will focus on Santiago, the Chilean capital, where an estimated one million people are unbanked [1].
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) to Provide $10m Loan to Mibanco of Peru to Help Launch Microfinance Product
As part of its Opportunities for the Majority initiative, the Inter-American Development Bank (IDB) will provide USD 10 million to Mibanco, a Peruvian microfinance institution with a gross loan portfolio equivalent to USD 781 million, according to the MIX Market, the microfinance information clearinghouse. The loan is expected to help Mibanco launch a financial product called Crecer Mi Negocio (To Grow My Business), which will provide women entrepreneurs with medium term investment loans averaging USD 2,000 to USD 3,000.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Provides $5m Loan for Fund Sponsored by Global Partnerships to Invest in 20 Microfinance Institutions (MFIs) in Latin America
The Inter-American Development Bank (IDB), which provides multilateral financing in Latin America and the Caribbean, will provide a USD 5 million loan to a fund that is managed by Global Partnerships, a non-governmental organization (NGO) that supports microfinance institutions (MFIs) in Latin America [1,2,3]. The fund, which totals USD 25 million, will be used to invest in 20 MFIs in at least 12 countries [1]. The other USD 20 million will be provided by other, unspecified private institutions and investors [1]. In turn, the MFIs will lend to microentrepreneurs, mostly in the Central American and Andean regions [1]. Additionally, the MFIs will use the investments to provide the microentrepreneurs with technical assistance, “innovative technologies in areas such as loan management, insurance, evaluation and foreign currency hedging,” and social services such as protection of health [1].
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Provides $17.5m Loan Facility to Dominican Commercial Bank ‘Banco BHD’ to Lend to Small and Medium Enterprises (SMEs)
The Inter-American Development Bank (IDB), which provides multilateral financing in Latin America and the Caribbean, has extended a USD 17.5 million loan to Banco BHD, a commercial bank based in the Dominican Republic, in order to “strengthen its capital position and expand its long-term lending to the corporate sector, including small and medium-sized enterprises (SMEs)” [1,2,3]. The facility is made up of a USD 5 million loan with a five-year tenor and a USD 12.5 million loan with an eight-year tenor [1]. The USD 12.5 million loan will be extended in conjunction with an unspecified third party [1].
MICROCAPITAL.ORG STORY: Equitas Micro Finance India Receives $21.6m Loan from Small Industries Development Bank of India (SIDBI)
A recent article from The Economic Times stated that Equitas Micro Finance India, a microfinance institution (MFI) based in Chennai [2], received a USD 21.6 million (Rs 100 crore) loan from Small Industries Development Bank of India (SIDBI). Equitas’ Managing Director, P.N. Vasudevan, stated that the loan is repayable over four years, and that the MFI intends to raise USD 21.6 million more from other lenders. [1]