Lenddo, a Philippines-based online microfinance firm, reportedly has received approximately USD 8 million in equity from undisclosed US investors.
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MICROFINANCE PUBLICATION ROUND-UP: Financial Behavior in Latin America; Microfinance Reporting Technology; Evaluation of India’s Kshetriya Gramin Financial Services (KGFS)
“The Financial Behavior of Rural Residents: Findings from Five Latin American Countries;” by Jacqueline Urquizo; published by Accion; March 2012; 45 pages; available at: http://centerforfinancialinclusionblog.files.wordpress.com/2012/03/the-financial-behavior-of-rural-residents_march-2012.pdf
MICROCAPITAL BRIEF: Microfinance Growth Slows in Andhra Pradesh, Quickens in Other Indian States
According to a statement attributed to chief executive officer Mr Alok Prasad of Microfinance Institutions Network (MFIN), a trade association of 46 Indian microfinance lenders, the microfinance sector in the Indian state of Andhra Pradesh is expected to experience reduced growth for the financial year ending on March 31.
MICROCAPITAL BRIEF: 87 MFIs Earn 2011 Microfinance Information Exchange (MIX) Social Performance Reporting Award
Microfinance Information Exchange (MIX), a US-based nonprofit provider of data and analysis on microfinance institutions (MFIs), funders, networks and service providers dedicated to serving the financial needs of low-income clients, has released the names of 87 MFIs that have earned its winners of the Social Performance Reporting Award.
MICROCAPITAL BRIEF: Private Equity Investments in Small and Medium Enterprises (SMEs) in India Rise 70% to $664m
The Planning Commission of the government of India recently released a preliminary approach paper regarding its 12th five-year plan (2012-2017) [1].
MICROCAPITAL BRIEF: Microfinance Institutions Network (MFIN) Asks Reserve Bank of India (RBI) to Assist in Recovering Loans Outstanding in Andhra Pradesh
Microfinance Institutions Network (MFIN), a trade association of 46 Indian microfinance lenders, reportedly has requested that the Reserve Bank of India (RBI) intervene on behalf of microlenders attempting to collect INR 7,000 crore (USD 1.36 billion) in loans outstanding in the Indian state of Andhra Pradesh.
MICROCAPITAL BRIEF: Lok Capital, Proparco Invest $5m in Equity in India’s IFMR Rural Channels and Services
Lok Capital LLC, a Mauritius-based microfinance investment vehicle, and its Proparco, a French development finance institution, have recently invested INR 260 million (USD 5 million) in equity in the Institute for Financial Management and Research (IFMR) Rural Channels and Services, a company of IFMR Trust that provides financial services in rural India.
MICROCAPITAL BRIEF: Accion Launches $10m Venture Lab to Invest in Microfinance Institutions, Other Financial Inclusion Start-Ups
Accion, a US-based nonprofit microfinance organization, recently announced that it has launched Venture Lab, a USD 10 million investment vehicle that will provide seed capital to financial inclusion start-ups across the world.
MICROCAPITAL BRIEF: 9.2m Microfinance Borrowers in India Have Defaulted Since 2010
It has been reported that approximately 9.2 million of 32 million Indian microfinance clients have defaulted on loan repayment since 2010.
MICROCAPITAL BRIEF: Microinsurance Equity Fund LeapFrog Investments Hires David Steel, Niclas Thelander
LeapFrog Investments, a Mauritius-based for-profit equity fund investing in microinsurance, has announced two new hires.
MICROCAPITAL BRIEF: Development Seed, Key2Flex Offer Geospatial Technology Services to Analyze Availability of Financial Services in Developing Countries
Geospatial mapping is being used to show the geographic distribution of banks, automated teller machines (ATMs) and banking agents in relation to low-income and other population groups, thus giving an indication of the accessibility of financial services to those groups.
MICROCAPITAL BRIEF: State Bank of India to Grow Microfinance Portfolio by 50%, Microfinance Institutions Network Promotes Wholesale Lending to Sector
The State Bank of India (SBI) reportedly plans to grow its microfinance portfolio by 50 percent during the fourth quarter of the fiscal year.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2010 Latin America & the Caribbean Regional Snapshot
The Microfinance Information Exchange (MIX), a US-based nonprofit organization that publishes financial and social performance information from microfinance stakeholders, recently released an analysis of microfinance institutions (MFIs) in Latin America and the Caribbean based on 2010 data.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), India’s Microfinance Institutions Network (MFIN) Promote Reporting to Credit Information Bureau
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Microfinance Institutions Network (MFIN), a self-regulatory organization of Indian microfinance institutions, are working together to encourage microfinance institutions to start reporting to the country’s Credit Information Bureau, which is intended to promote responsible lending.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Launches Fee-Based “MIX Silver”
The Microfinance Information Exchange (MIX), a US-based nonprofit organization that publishes financial and social performance information from microfinance stakeholders, recently announced the launch of a fee-based service that offers the ability to: create a personalized dashboard to track real-time changes in microfinance markets; build virtual microfinance institution portfolios for analysis; access benchmarking and aggregation tools; and access all interim and annual data for approximately 2,000 MFIs in the MIX database [1].
MICROCAPITAL BRIEF: Microfinance Institutions in India’s Andhra Pradesh State Seek Government, Commercial Bank Assistance in Restructuring Loans
The Microfinance Institutions Network (MFIN), an association of 39 Indian microlenders, has reportedly approached the government of the Indian state of Andhra Pradesh with a proposal to ease repayment terms for distressed borrowers in return for simplifying government-mandated underwriting procedures.
MICROCAPITAL BRIEF: Focus Note Distributed at Fifth African Microcredit Conference Lauds Morocco as a “Microcredit Champion,” Contrary to Past Reports Expressing Concern
At the recently concluded Fifth African Microcredit Conference, which was held in Ethiopia, a focus note reportedly commended the Moroccan microcredit sector, remarking that from 2003 to 2007 microfinance institutions’ (MFIs) loan portfolio “multiplied 11 times and client outreach by four” in the country [1].
MICROCAPITAL BRIEF: Indian Microfinance Sector Expected to Decline by 20 to 40 Percent During Fiscal Year Ending March 2012
Data from India’s 39-member Microfinance Institutions Network (MFIN) for the first five months of fiscal year 2011-2012 indicate a decline in the industry’s loan portfolio.