The Securities and Exchange Commission of Pakistan (SECP) recently issued a license to Sustainable Actions to Access Financial Capital Opportunities (SAFCO) Microfinance Company, a unit of the SAFCO Support Foundation, allowing it to offer microfinance services. The announcement comes as SECP is
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MICROCAPITAL BRIEF: Oikocredit, Aqua for All to Invest $17m in Water, Sanitation in Africa, Cambodia
Two Dutch entities, the cooperative investor Oikocredit and the nonprofit Aqua for All, recently launched a two-year partnership to facilitate access to drinking water, sanitation and hygiene (WASH) in Cambodia as well as unspecified countries in East and West Africa. Oikocredit has agreed to invest up to EUR 15 million (USD 15.6 million) in
MICROCAPITAL BRIEF: BII Investing $75m in MSME Funders via Symbiotics to Enable “Green” Projects in Africa, Asia
British International Investment (BII), the UK’s development finance institution, recently subscribed to a bond issuance arranged by Switzerland-based Symbiotics in the amount of USD 75 million to be invested in 10 to 15 funders of micro-, small and medium-sized enterprises (MSMEs) in Africa, South Asia and Southeast Asia to boost “small-scale green projects and businesses.” To support the investments, BII has committed USD 520,000 in technical assistance for the retail lenders to help their clients invest in assets such as “rooftop solar panels, sustainable agriculture, energy-efficient appliances” and others. The program spans
MICROCAPITAL BRIEF: Public Sector Commits $61m to SMEs via Bamboo-UNCDF Initiative for the Least Developed (BUILD) Fund
The UN Capital Development Fund (UNCDF) recently announced that it and the Luxembourg-based fund manager Bamboo Capital Partners have raised the equivalent of USD 55 million for the Bamboo-UNCDF Initiative for the Least Developed (BUILD), a fund investing equity and debt in small and medium-sized enterprises (SMEs) in low- and middle-income countries. The partners also have raised USD 6.5 million for the BUILD Enterprise Resource Technical Assistance (BUILDER TA) facility to
MICROCAPITAL BRIEF: Bix, FMO Lending $10m to C-Quest Capital to Expand Usage of Clean Cookstoves in Sub-Saharan Africa
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, is lending USD 6.4 million to C-Quest Capital, a US-based investor in projects that reduce the environmental impacts of energy production and usage in low- and middle-income countries. At the same time, Bix Capital, a Dutch provider of debt financing to small and medium-sized enterprises (SMEs) to boost
MICROCAPITAL BRIEF: Bailyk Finance Borrows from Incofin for On-lending to Small-scale Entrepreneurs, Farmers in Kyrgyzstan
Belgium’s Incofin Investment Management recently provided a loan of an undisclosed amount to Kyrgyzstan-based Bailyk Finance to support the microlender’s mission “to create affordable financial solutions for rural and small cities’ residents to improve their quality of life.” Established in 2011, Bailyk provides microloans and associated insurance for consumption, enterprise, farming, housing, solar energy, medical and other purposes to 45,000 consumers – mostly women – through 43 offices. The company’s loan formats include
MICROCAPITAL BRIEF: Annapurna Raises $35m from Accion, Encourage Capital, Oikocredit to Support Green Microfinance, Digitalisation
Annapurna Finance, a microfinance institution (MFI) based in the Indian state of Odisha, recently raised INR 193 billion (USD 35 million) from US-based NGO Accion, US-based impact investor Encourage Capital and Dutch cooperative investor Oikocredit. The funding is to be used to boost the digitalisation of Annapurna’s operations and for developing
MICROCAPITAL BRIEF: BMZ, KfW Creating Clean Energy and Energy Inclusion for Africa (CEI Africa) with Goals Including to Enable Diaspora Investments via Crowdfunding
Two German institutions, Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ) and KfW, which was formerly known as Kreditanstalt für Wiederaufbau, are launching a foundation called Clean Energy and Energy Inclusion for Africa (CEI Africa). The foundation has EUR 49 million (USD 55.2 million) to donate in support of
MICROCAPITAL BRIEF: Triodos Emerging Markets Renewable Energy Fund Debuts with $29m in Commitments
Triodos Investment Management, an impact investing unit of the Netherlands’ Triodos Bank, has announced the launch of the Triodos Emerging Markets Renewable Energy Fund. The fund will deploy senior debt in low- and middle-income countries to support:
MICROCAPITAL BRIEF: Microinvest of Moldova, FINCA Armenia Borrowing $10m from Invest in Visions for Microfinance
Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it is issuing the following loans on behalf of Germany’s Invest in Visions (IIV): EUR 7 million (USD 8 million) in two tranches to Microinvest of Moldova and USD 2.5 million to FINCA Armenia, a unit of US-based FINCA Impact Finance. AFI has disbursed the entire loan to
MICROCAPITAL BRIEF: Agents for Impact Loans $14m from IIV to Kinara Capital of India, BRAC Tanzania for Microfinance, SMEs
Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it has issued the following loans on behalf of Germany’s Invest in Visions (IIV): EUR 8 million (USD 9.2 million) to India’s Kinara Capital and USD 5 million to BRAC Tanzania Finance Limited. AFI aims to bring together investors to make progress toward the UN Sustainable Development Goals.
Kinara issues collateral-free loans to micro-, small and medium-sized enterprises. The loans, which range in size from INR 100,000 (USD 1,300) to INR 3 million (USD 40,000), are intended for purposes such as working capital and asset purchases. Although the firm promises “digital first”
MICROCAPITAL BRIEF: Microfinance Institution Kreditimi Rural i Kosoves (KRK) Borrows $2.3m from EBRD for Green Housing Loans
Kreditimi Rural i Kosoves (KRK), a microfinance firm in Kosovo, recently accepted an unsecured loan of up to EUR 2 million (USD 2.3 million) from the UK-based European Bank for Reconstruction and Development’s (EBRD’s) Western Balkans Green Economy Financing Facility II (WB GEFF II). KRK plans to on-lend the funds for
MICROCAPITAL BRIEF: IFC Lends $12m to Garanti BBVA Leasing Romania for Microenterprises, SMEs, Including Women-owned Enterprises
The International Finance Corporation (IFC), a member of the World Bank Group, recently loaned EUR 10 million (USD 12 million) to Garanti BBVA Leasing Romania, which is controlled by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA). The investment is intended to support microenterprises as well as
MICROCAPITAL BRIEF: IFC Approves $250m Loan to HDFC for Housing Finance for Low-, Middle-income Borrowers in India; 25% Earmarked for Green Buildings
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently approved a loan of USD 250 million to Housing Development Finance Corporation Limited (HDFC), a housing lender based in India. Whereas green housing has “largely been regarded as a luxury market in the country,” one quarter of the loan amount is reserved for
MICROCAPITAL BRIEF: EBRD, EU Lending $30m for MSMEs via ProCredit Bank Ukraine, Primarily for Green Technology
ProCredit Bank Ukraine recently agreed to borrow the approximate equivalent of USD 30 million from the UK-based European Bank for Reconstruction and Development (EBRD) and the EU. The funds, which are denominated in a mix of euros and Ukrainian hryvnia, are to be used for on-lending to micro-, small and medium-sized enterprises (MSMEs). The wholesale loan is part of the EU4Business-EBRD Credit Line,
MICROCAPITAL BRIEF: EBRD Loans $2.4m to ProCredit Bank Bosnia and Herzegovina for Energy Efficiency, Homeowners Eligible for EU Grants
The UK-based European Bank for Reconstruction and Development (EBRD) recently announced it is lending EUR 2 million (USD 2.37 million) to ProCredit Bank Bosnia and Herzegovina (PCB BiH) to on-lend for residential “investments in insulation, windows, heat pumps, solar panels and other improvements” that reduce energy usage. PCB BiH is a member of Germany’s ProCredit Holding, whose members provide
MICROCAPITAL BRIEF: Microfinance Institution Annapurna Raises $30m in Equity from TIAA’s Nuveen, Other Investors to Support Lending for Women, SMEs, Housing, Green Finance in India
Annapurna Finance, a microfinance institution (MFI) in India that primarily funds women, recently announced it has raised USD 30 million in equity. The lead investor is US-based asset manager Nuveen, via its Global Impact Fund. The identities of
MICROCAPITAL BRIEF: Microfinance Institution Arohan of India Files for IPO, Early Investors to Exit, Deals May Total $247m
The microlender Arohan Financial Services recently filed with the Securities Exchange Board of India in preparation for an initial public offering (IPO) through which it seeks to raise INR