The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly plans to set up the Micro Finance Initiative for Asia (MIFA), a Luxembourg-based USD 100 million microfinance debt fund.
Search Results for: accessbank
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Provides $5.1m to Byblos Bank Armenia to Increase Microfinance Lending
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment vehicle that mobilizes capital for microfinance institutions (MFIs), has agreed to issue a loan equivalent to EUR 3.9 million (USD 5.1 million) to Byblos Bank Armenia, an Armenian financial institution with total assets of AMD 36 billion (USD 93.5 million).
MICROCAPITAL BRIEF: Central Bank of Liberia Launches $2.7m Loan Facility For Microfinance Institutions, Backed By United Nations Development Program
As part of its Liberian Inclusive Financial Sector (LIFS) Project, which is supported by the United Nations Development Program (UNDP), the Central Bank of Liberia (CBL) has launched a LRD 200 million (USD 2.7 million) “Loan Extension Assistance Facility” (LEAF) economic stimulus initiative which targets Liberian microfinance institutions [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $4m in Local Currency to First MicroFinance Bank of Tajikistan to Support Small Businesses
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in London, recently announced that it has committed to loan the equivalent of USD 4 million in the local currency, somoni, to First MicroFinance Bank (FMFB-TJK), a microfinance bank in Tajikistan that is affiliated with the Switzerland-based Aga Khan Development Network (AKDN) [1].
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), FMO of the Netherlands, Bank im Bistum Essen eG of Germany Syndicate $8m Loan for Bank Eskhata of Tajikistan For Microfinance, Small and Medium-Sized Enterprises (SMEs)
Bank Eskhata, a commercial bank located in Tajikistan, will receive a USD 8 million syndicated loan funded by three European financial institutions: the Netherlands Development Finance Company (FMO in Dutch), a public-private partnership, will provide USD 5 million; the European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, will provide USD 2 million; and Bank im Bistum Essen eG (BiB), a German cooperative bank, will provide USD 1 million.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Microsave Publish Deposit Assessment Reports for Bangladesh, India, Nepal and Sri Lanka
The International Finance Corporation (IFC), a member of the World Bank Group, recently commissioned “The South Asia Deposit Assessment” studies.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Assist Microfinance Institution (MFI) IMON International of Tajikistan in Financing, Leasing Agricultural Equipment
As part of its Tajikistan Agribusiness Finance and Business Environment Project, the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, will support IMON International, a microfinance institution (MFI) in Tajikistan, in the identification of new clients that may benefit from equipment finance.
MICROCAPITAL BRIEF: African Development Bank (AfDB) Approves $660k Grant to Access Bank Tanzania (ABT), a Microfinance Bank in Tanzania
The African Development Bank (AfDB), a regional development organization in Africa, has approved a USD 660,000 grant to Access Bank Tanzania (ABT), a newly established commercial bank in Tanzania focusing on microfinance. The initiative was made possible through the Fund for African Private Sector Assistance (FAPA), a subsidiary of the Enhanced Private Sector Assistance program, which is a billion-dollar initiative of the government of Japan and the AfDB to promote private sector development in Africa.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $6m Line of Credit to Bank Respublika, a Commercial Bank in Azerbaijan
The European Bank for Reconstruction and Development (EBRD), a financial institution “owned by 61 countries and two intergovernmental institutions,” is providing a USD 6 million line of credit to Bank Respublika, a private commercial bank in Azerbaijan [1,2,3]. The line of credit will be used by Bank Respublika to provide loans to micro, small, and medium enterprises (MSMEs) in Azerbaijan [1]. The loans will be have both medium and long-term tenors [1]. The EBRD has previously provided loans to Bank Respublika totaling USD 27 million [1]. MicroCapital reported another, more recent, EBRD investment in Azerbaijan in December of 2009; a USD 10 million loan to AccessBank, a microfinance institution (MFI) [4]. The repayment, however, is to be in the AZN value of the loan, the equivalent of over AZN 8 million [4].
MICROCAPITAL.ORG STORY: Members of Azerbaijan Microfinance Association (AMFA) Reach Microloan Portfolio of USD 393 Million
According to an article from the online publication, Azerbaijan Business Center, microfinance institutions (MFIs) that are members of the Azerbaijan Microfinance Association have reached a combined microloan portfolio of USD 393 million as of October 1, 2009 [1,2]. Additionally, the number of active borrowers has exceeded 274,600 [1].
MICROCAPITAL STORY: European Development Finance Institutions Part 2: KfW Entwicklungsbank Remains One of the Largest Global Investors in Microfinance
KfW Entwicklungsbank (KfW), a development bank that finances investments on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), has made significant contributions to the microfinance sector in recent years. Between January 2007 and April 2009, KfW has invested at least USD 250 million in microfinance services around the world, with its outstanding commitments to the sector likely making that number even higher.
MICROCAPITAL STORY: International Finance Corporation (IFC) Worldwide Microfinance Investment Deals March and April 2009 of $51m and EURO 7m
The International Finance Corporation (IFC), a member of the World Bank Group, provides investments and advisory services to build the private sector in developing countries. It made the following microfinance investment deals in March and April 2009 of USD 51m and EURO 7m.
MICROCAPITAL STORY: European Development Finance Institutions Part 1: European Bank for Reconstruction and Development (EBRD) Invests Over USD 1 Billion in Microfinance Initiatives Since 2007
The European Bank for Reconstruction and Development (EBRD), a multilateral development institution that fosters private sector investment in 27 countries in Central Europe and Central Asia, has supported the microfinance sector through its Micro, Small and Medium Business Program since its establishment in 1991. In the last two years alone, EBRD has provided over USD 1 billion – through debt, equity facilities and technical assistance – to microfinance programs throughout the region.
MICROCAPITAL STORY: The European Bank for Reconstruction and Development (EBRD) Provides $3.8m Loan to Inicjatywa Mikro with Technical Assistance Funded by the European Commission (EC) to Support the Development of Micro and Small Enterprises in Poland
The European Bank for Reconstruction and Development (EBRD) is providing the microfinance institution Inicjatywa Mikro with a 3.8 million USD loan to aid the development of micro and small enterprises in Poland. The loan is supported by technical assistance funded by the European Commission, the executive branch of the European Union. The financing comes under the EU/EBRD Preparatory Action Framework, which supports micro and small enterprises in the new EU member states, and aims to generally provide medium and long-term financing from the EBRD combined with technical assistance funded by the European Commission.
MICROCAPITAL STORY: Central Bank of Liberia (CBL) Grants Formal Banking License to Liberia’s First Commercial Microfinance Institution, Access Bank Liberia (ABL); ABL Starts Issuing Loans to the Public
Access Bank Liberia (ABL), the first commercial microfinance institution of Liberia, has become operational and started issuing loans to the public, according to an announcement by the International Finance Corporation (IFC), a member of the World Bank group. ABL, which received a preliminary banking license in July 2008, started operations after it was granted a formal banking license by the Central Bank of Liberia (CBL) on January 21, 2009. According to the announcement by IFC, since receiving the preliminary license, ABL had hired and trained loan officers, tailored all its savings and credit products to cater to the demands of the Liberian market and ensured compliance of all its banking systems with the Liberian law. ABL will focus on microfinance lending in Liberia in addition to providing short and medium-term lending to small and medium enterprises (SMEs) in Liberia. So far, no information on the interest rates to be charged is available yet.
NEWS WIRE: EBRD signed one of the two syndicated loans with Access Bank
Source: ABC AZ.
PRESS RELEASE: International Finance Corporation (IFC) Helps Establish Liberia’s First Microfinance Bank
Source: International Finance Corporation (IFC). MicroCapital also recommends the MICROCAPITAL STORY “Central Bank of Liberia Grants License to AccessBank Liberia Limited, a Commercial Microfinance Bank,” July 10, 2008.
MICROCAPITAL STORY: International Finance Corporation (IFC) and Westpac Sponsor Workshop to Increase Microfinance to Women Entrepreneurs, Exim Bank and MI-BOSPO Attend
The International Finance Corporation (IFC), a member of the World Bank Group, and Westpac Banking Corporation, the fourth largest bank in Australia, are sponsoring a four-day workshop designed to encourage micro-lending to women business-owners in developing countries. International women bankers gathered in Sydney, Australia on October 2 to exchange global best practices on serving women entrepreneurs. Attendees included representatives from several of IFC’s client financial institutions: Exim Bank Limited (Tanzania), Access Bank (Nigeria), dfcu Limited (Uganda), Business Partners (South Africa), and MI-BOSPO (Bosnia).