Partner Microcredit Foundation (PMCF), a microfinance institution in Bosnia and Herzegovina, recently borrowed EUR 4 million (USD 5.48 million) under a senior credit agreement from Green for Growth Fund, Southeast Europe (GGF), a Luxembourg-based organization focusing on the use of renewable energy sources and enhancing energy efficiency.
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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $6.9m to Elana Agrocredit of Bulgaria to Expand Land Lease Financing
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced that it will extend a loan of EUR 5 million (USD 6.9 million) to Elana Agrocredit, a Bulgaria-based financial institution that provides lease financing to agricultural producers for farmland purchases.
MICROCAPITAL BRIEF: Crowdfunders Kiva, Vittana Partner to Extend Student Loans for Higher Education in Developing World
US-based nonprofit crowdfunders Kiva Microfunds, which raises money for microfinance institutions (MFIs) to on-lend for various purposes, and Vittana, which raises funds for MFIs to on-lend for higher education, have formed a partnership to post Vittana’s student loan fundraising requests on Kiva’s website starting on March 31, 2014.
MICROFINANCE PAPER WRAP-UP: “The International Bank of Bob,” by Bob Harris; published by Walker Publishing
“The International Bank of Bob;” by Bob Harris; published by the Walker Publishing Company, Inc.; March 2013; 400 pages, http://www.bloomsbury.com/us/the-international-bank-of-bob-9781620405222/
This book stems from the moment that US-based author Bob Harris met a group of South Asian day laborers while on assignment for ForbesTraveler.com in Dubai.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Launches Online Environmental, Social Training Program for Clients
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution that finances development projects, recently launched an online environmental and social training program that aims to help its clients manage the environmental and social risks that arise from their lending operations.
MICROFINANCE EVENT: Oikocredit USA Summit 2013: Investing in People, Empowering Communities, September 5-6, 2013, Washington, DC, USA
Event Name: Oikocredit USA Summit 2013: Investing in People, Empowering Communities
Event Date: September 5-6, 2013
Event Location: Hyatt Regency Washington, DC, USA
MICROCAPITAL BRIEF: Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO) to Loan $10m to Societe Generale Ghana, Part for Small, Medium-Sized Enterprises (SMEs)
Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO), a French public-private development finance institution, reportedly has signed a seven-year USD 10 million loan agreement with Societe Generale (SG) Ghana, a Ghanaian bank that is a subsidiary of the French-owned Groupe Societe Generale, for on-lending to small and medium-sized enterprises (SMEs) as well as larger corporations.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), European Investment Bank (EIB), Agence Française de Développement (AFD), European Commission Establish $380m Middle East, North Africa Small, Medium-Sized Enterprises Facility
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it is partnering with the European Investment Bank (EIB), the long-term lending bank of the European Union (EU); Agence Française de Développement (AFD), France’s international development agency; and the European Commission, the legislative body of the EU, via the Neighborhood Investment Facility (NIF), to establish a USD 380 million financing facility for small and medium-sized enterprises (SMEs) in the Middle East and North Africa (MENA).
MICROCAPITAL BRIEF: Online Fundraiser Kiva Discloses Delinquencies of Microfinance Institutions Alidé of Benin, FECECAV of Togo
Kiva, a US-based online microlending fundraiser, recently reported on delinquent payments due to Kiva by non-profit institutions L’Association de Lutte pour la promotion des Initiatives de Développement (Alidé) of Benin and Faîtière des Caisses d’Epargne et de Crédit des Associations Villageoises (FECECAV) of Togo.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Opens $112m in Credit Lines to Société Générale Expressbank, Sogelease Bulgaria for On-lending, Leasing to Small, Medium-Sized Enterprises
The UK-based European Bank for Reconstruction and Development (EBRD) has agreed to loan up to EUR 85 million (USD 111.5 million) to two units of French-based Société Générale Group to finance the growth of small and medium-sized enterprises (SMEs) in Bulgaria.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Launches $100m Credit Line for Russian Residential Energy Efficiency Improvements, Center-Invest Bank Borrows $24m
The UK-based European Bank for Reconstruction and Development (EBRD) recently launched an energy efficiency credit line valued at USD 100 million to be on-lent via local private banks to benefit individual Russian households, housing associations, management companies, maintenance service providers, condominiums and energy service companies (ESCOs).
MICROCAPITAL BRIEF: ProCredit Bank Bulgaria Launches Home Loan Program
ProCredit Bank Bulgaria, a microfinance institution (MFI) and member of Germany’s ProCredit Holding, recently launched a housing lending program for clients purchasing homes and refinancing existing home loans.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $19m to UniCredit Serbia for Leasing to Small, Medium-sized Enterprises
The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, has provided a loan of EUR 15 million (USD 19.2 million) to UniCredit Serbia, a subsidiary of the Italy-based financial services company UniCredit, to expand lease financing to small and medium-sized enterprises (SMEs) in Serbia.
MICROCAPITAL BRIEF: ProCredit Bank Armenia Launches Visa Business Card
ProCredit Bank Armenia, a microfinance institution (MFI) and member of Germany’s ProCredit Holding, recently launched its Visa Business Card, which is supported by the 170-country network of US-based payment services firm Visa.
MICROCAPITAL BRIEF: ProCredit Bank Ukraine Opens New Branch in Kharkiv
ProCredit Bank Ukraine, a microfinance institution (MFI) and member of Germany’s ProCredit Holding, recently opened a new branch in the city of Kharkiv.
MICROCAPITAL BRIEF: Hypo Alpe Adria Group, ResponsAbility Social Investments AG Approve Loans Totaling $7m to Microcredit Foundation Prizma of Bosnia and Herzegovina
Hypo Alpe Adria Group, a state-owned Austrian financial group, and ResponsAbility Social Investments, a Swiss investment organization founded in 2003, approved loans of BAM 5 million (USD 3.2 million) and EUR 3 million (USD 3.7 million), respectively, to Microcredit Foundation Prizma, a microcredit organization operating in rural Bosnia and Herzegovina. The funds will be used to expand Prizma’s operations.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Extends Credit Line to Turkey’s Vakiflar Bankasi (Vakifbank) Worth $25m
European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution established in 1991, has funded small and medium-scale agribusiness in Turkey with a credit line for Turkiye Vakiflar Bankasi (Vakifbank) in Turkish lira (TRL) equivalent to USD 24.7 million.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $10m to ProCredit Bank of Georgia
European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) investing in 16 countries in Europe and Asia, has reported to MicroCapital that it has loaned USD 10 million to ProCredit Bank of Georgia, a bank serving Georgian small and medium-sized enterprises (SMEs).