MICROCAPITAL BRIEF: EFSE Loans $33m to UniCredit for Business, Home Loans in Serbia

The European Fund for Southeast Europe (EFSE), a Luxembourg-based, government-backed microfinance investor that aims to foster regional development, recently announced that it has provided loans totaling EUR 25 million (USD 33 million) to UniCredit Serbia to support its small enterprise lending operations and its homes and housing improvement program [1].

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $9.3m to Mikrofin Banja Luka, MF Banka of Bosnia and Herzegovina for Micro- and Small Enterprise (MSE) in Rural Areas

The European Fund for Southeast Europe (EFSE), a Luxembourg-based government-backed investor in microfinance, has loaned a total of EUR 7 million (USD 9.3 million) to Mikrofin Banja Luka, a microfinance institution based in Bosnia and Herzegovina, and MF Banka, a subsidiary of Mikrofin formed in 2010, for on-lending to micro- and small enterprises (MSEs) in rural areas.

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), European Bank for Reconstruction and Development (EBRD) Loan $4m to Mikrokreditna Fondacija Mi-Bospo of Bosnia and Herzegovina

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently notified MicroCapital that it has opened a EUR 1.5 million (USD 1.9 million) credit line for Mikrokreditna Fondacija Mi-Bospo, a microlender in Bosnia and Herzegovina (BiH) that loans exclusively to women [1].

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $13m to Newly Launched Sberbank BH of Bosnia and Herzegovina for Housing, Micro- and Small Enterprise (MSE)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment company, and Sberbank BH, the Bosnia and Herzegovina branch of government-owned Sberbank of Russia, recently signed a EUR 10 million (USD 13.3 million) loan agreement.

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers $33m Loan to European Fund for Southeast Europe (EFSE) for Micro-, Small, Medium-Sized Enterprises

The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution established in 1991, is reviewing a proposal to invest EUR 25 million (USD 33 million) in the European Fund for Southeast Europe (EFSE), a Luxembourg-based investment company, to provide funding for micro-, small and medium-sized enterprises (MSMEs) in sixteen countries in Southeast Europe and neighboring countries.

MICROCAPITAL BRIEF: Nine Indian Impact Investment Companies Forming “Indian Impact Investor Council”

Nine companies that specialize in impact investment reportedly will be establishing the “Indian Impact Investor Council” (IIIC) to establish guidelines helping investment companies in India regulate their efforts to meet social goals.

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) to Loan $6m to Mikrofin Banja Luka of Bosnia and Herzegovina, Inecobank of Armenia

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), has recently disbursed a loan of EUR 4 million (USD 5.2 million) to Mikrofin Banja Luka of Bosnia and Herzegovina and AMD 375 million (USD 911,600) to Inecobank of Armenia [1].

MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $13m from Dual Return Funds to Microfinance Institutions (MFIs) in South America, Eurasia Including FINCA Armenia

Absolute Portfolio Management (APM), an Austria-based firm that invests in microfinance and other sectors, recently notified MicroCapital that it loaned the equivalent of USD 13 million during April 2013 through two of the funds that it manages to microfinance institutions (MFIs) in Armenia, Azerbaijan, Ecuador, Honduras, Kyrgyzstan, Mongolia, Peru, the Philippines, Russia and Tajikistan. Of this amount, USD 7.5 million was issued in local currency.

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) to Loan $16m to ACBA-Credit Agricole Bank of Armenia

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), has notified MicroCapital that it recently disbursed two loans totaling the equivalent of USD 16 million to Agricultural Cooperative Bank of Armenia-Credit Agricole Bank (ACBA), a microfinance bank partially owned by French bank Credit Agricole.

MICROFINANCE PUBLICATON ROUND-UP: Drivers of Over-Indebtedness in Cambodia, Accelerating Impact Investing, Mobile Banking in Tanzania

“Study on the Drivers of Over-Indebtedness of Microfinance Borrowers in Cambodia: An In-depth Investigation of Saturated Areas;” by Dannet Liv; published by BlueOrchard Microfinance Investment Management, Incofin Investment Management, Oikocredit; March 2013; 83 pages; available at: http://www.blueorchard.com/jahia/webdav/site/blueorchard/shared/Publications%20and%20Resources/News%20%26%20Press%20releases/OID-Final%20Report.pdf

This report presents an analysis of the factors that drive microfinance borrowers in Cambodia to take on excessive levels of debt.

MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $9m from Dual Return Funds to Microfinance Institutions (MFIs) in Armenia, Benin, Cambodia, Georgia, Mongolia, Paraguay, Peru and Tajikistan

Absolute Portfolio Management (APM), an Austria-based microfinance investment and asset management company, recently told MicroCapital that it issued the equivalent of USD 9 million during March 2013 through two of the funds it manages to microfinance institutions (MFIs) in Armenia, Benin, Cambodia, Georgia, Mongolia, Paraguay, Peru and Tajikistan.

MICROCAPITAL BRIEF: The European Fund for Southeast Europe (EFSE) to Loan $1.9m to Mi-Bospo of Bosnia and Herzegovina

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently loaned EUR 1.5 million (USD 1.9 million) to Mikrokreditna Fondacija Mi-Bospo, a microfinance institution (MFI) based in Bosnia and Herzegovina that loans exclusively to women.

MICROFINANCE EVENT: Microfinance and Impact Investing Initiative (MI3) to Host Symposium “US Poverty, Microentrepreneurs and Microfinance: Needs, Responses and Prospects,” March 28-29, 2013, Haverford, Pennsylvania, US

Event Name: US Poverty, Microentrepreneurs and Microfinance: Needs, Responses and Prospects, “A Symposium for Practitioners, Policymakers, Researchers and Students”

Event Date: March 28-29, 2013

Event Location: Stokes Auditorium, Haverford College, Haverford, Pennsylvania, US

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $974k to Araratbank of Armenia

The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle launched by German development bank KfW Entwicklungsbank, has informed MicroCapital that it recently disbursed an AMD 400 million (USD 974,000) loan to open joint stock corporation Araratbank of Armenia, a bank that primarily provides financial services to micro-, small and medium-sized enterprises (MSMEs) in the country.

MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $8.5m From Dual Return Funds to Microfinance Institutions (MFIs) in Cambodia, Colombia, the Dominican Republic, Georgia, Indonesia, Russia

Absolute Portfolio Management (APM), an Austria-based microfinance investment and asset management company, has told MicroCapital that it issued the equivalent of USD 8.5 million in credit through funds it manages to microfinance institutions (MFIs) in Cambodia, Colombia, the Dominican Republic, Georgia, Indonesia and Russia during the month of February.

MICROFINANCE EVENT: International Organization of Securities Commissions (IOSCO), Commission de Surveillance du Secteur Financier (CSSF) to Host 38th Annual Conference “Connecting Global Finance”, September 18-19, 2013, Luxembourg

Event Name: IOSCO 2013 38th Annual Conference: Connecting Global Finance

Event Date: September 18-19, 2013

Event Location: Nouveau Centre de Conferences, Luxembourg

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Makes $643k Equity Buy into Kreditimi Rural I Kosoves of Kosovo

The European Fund for Southeast Europe (EFSE), a fund that seeks to foster economic development in southeastern Europe and parts of Central Asia, has made an equity investment of EUR 479,000 (USD 643,000) in Kreditimi Rural I Kosoves LLC (KRK), a microfinance institution based in Kosovo.