The Overseas Private Investment Corporation (OPIC), a development finance institution backed by the US government, recently agreed to loan Myanmar-based Early Dawn Microfinance Company Limited USD 5 million. Dawn lends to low-income women in living in urban and peri-urban areas.
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MICROCAPITAL BRIEF: IFC Syndicates $44m in Debt from BIB, Incofin, MicroVest, Symbiotics for KazMicroFinance (KMF) of Kazakhstan
KazMicroFinance (KMF), a microfinance institution operating in Kazakhstan, recently borrowed USD 44 million syndicated by the World Bank Group’s International Finance Corporation (IFC) in an effort to enable KMF to expand its lending to small businesses. Of the total, IFC is providing USD 5 million
MICROCAPITAL BRIEF: IFC to Advise FINCA DRC on Boosting Access to Credit, Mobile Banking in the Democratic Republic of the Congo, with Funding from The MasterCard Foundation
The World Bank Group’s International Finance Corporation (IFC) recently agreed to provide two years of advisory services, valued at USD 1 million, to FINCA DRC, a unit of US-based FINCA Microfinance Holding Company that provides savings and credit services to 256,000 customers in the Democratic Republic of Congo. The goal is to
SPECIAL REPORT: Accelerating Financial Inclusion in the Mekong through Collaboration
At
the 2016 Mekong Financial Inclusion Forum, MFIs and funders led this session’s discussion of collaboration. Kelly Hattel, Financial Sector Specialist for the Asian Development Bank, underscored “the importance of having national strategies for financial inclusion and having them be evidence-based. These are important…both as a donor individually and for
MICROFINANCE PUBLICATION ROUND-UP: Role of Impact Investing in Achieving UN Sustainable Development Goals; Microfinance Investment Vehicle Survey; Lessons from Tanzania’s Digitization Efforts
“Achieving The Sustainable Development Goals: The Role of Impact Investing;” published by The Global Impact Investing Network; September 12, 2016; 9 pages; available at https://thegiin.org/knowledge/publication/sdgs-impinv
This report profiles impact investors that have leveraged the United Nations (UN) Sustainable Development Goals (SDGs) for the following purposes: (1) as a framework to communicate their social impact goals; (2) to develop new or realign existing investment strategies and; (3) to attract capital from private investors that are new to impact investing.
MICROCAPITAL BRIEF: FMO, Bladex Co-Arrange $100m Loan for Banco Continental Paraguay, including $47m for On-Lending to Small, Medium-Sized Enterprises
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it has closed a USD 100 million syndicated A/B loan for Banco Continental SAECA, a commercial bank operating in Paraguay.
MICROCAPITAL BRIEF: IntelleGrow Raises $20m in Debt, Equity to Fund Micro-, Small, Medium-sized Enterprises in India
IntelleGrow Private Limited, an India-based nonbanking financial company specializing in venture debt that was founded by India’s Intellecap Capital Advisory Services, recently announced that it has raised INR 134 billion (approximately USD 20 million) in equity and debt.
MICROCAPITAL BRIEF: ResponsAbility Investments Loans $10m to Kompanion Bank of Kyrgyzstan
ResponsAbility Investments AG, a Swiss company specializing in investments in areas such as fair trade, recently informed MicroCapital that it has agreed to loan the equivalent of USD 10 million to Kompanion Bank Closed Joint Stock Company, an organization in Kyrgyzstan whose business comprises more than 90 percent microfinance, according to the US-based nonprofit Microfinance Information Exchange.
MICROCAPITAL BRIEF: Microfinance Network FINCA International Appoints Andree Simon as Co-CEO
The Foundation for International Community Assistance (FINCA International), a US-based nonprofit with microfinance operations in 23 countries, recently announced the promotion of Andrée Simon to the position of co-CEO of FINCA Microfinance Holding LLC (MFH), FINCA’s International’s network of microfinance subsidiaries.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Lends $9m to Kyrgyzstan’s Kompanion; $5.4m to Morocco’s Albaraka to Finance Micro-, Small, Medium-Sized Enterprises (MSMEs)
The UK-based European Bank for Reconstruction and Development (EBRD) has lent the local-currency equivalent of USD 9 million to Kompanion Financial Group, a microfinance institution (MFI) based in Kyrgyzstan, and EUR 5 million (USD 5.4 million) to Albaraka, the first Moroccan MFI to partner with EBRD [1] [2].
MICROCAPITAL BRIEF: Japan’s Orix Corporation Acquires Additional 6% Equity in Cambodia’s Acleda Bank
Orix Corporation, a financial services provider based in Tokyo, Japan, recently announced that it has acquired a 6.25-percent equity stake in Acleda Bank, a commercial bank headquartered in Phnom Penh, Cambodia, that provides deposits and microcredit in Cambodia, Laos and Myanmar.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Global Agriculture and Food Security Program, Sumitomo Mitsui Banking, Managed Co-Lending Portfolio Program to Loan $110m to Cambodia’s Acleda for Agricultural Lending
The International Finance Corporation (IFC), a member of the World Bank Group; the Global Agriculture and Food Security Program (GAFSP), a multilateral mechanism established by the G20 group of 20 large economies; Sumitomo Mitsui Banking Corporation (SMBC), a Tokyo-based subsidiary of Sumitomo Mitsui Financial Group; and the IFC Managed Co-Lending Portfolio Program, a platform that allows institutional investors to participate in IFC’s senior-loan portfolio, recently announced that they will be loaning a total of 110 million to Acleda Bank (Acleda), a Cambodian commercial bank.
MICROCAPITAL BRIEF: AccessHolding Enters Latin America Acquiring 93% Equity Stake in Accion Microfinancas of Brazil
Access Microfinance Holding AG (AccessHolding), a German company that invests in microfinance institutions (MFIs), recently announced that it has acquired 93 percent of the equity in Accion Microfinancas SCMEPP SA, a Brazilian MFI that operates as a subsidiary of US-based nonprofit Accion.
MICROCAPITAL BRIEF: India Completes Phase I of Jan-Dhan Initiative to Provide Banking Services to Every Household
Arun Jaitley, the Indian Finance Minister, reportedly announced that the government has completed Phase I of the Jan-Dhan initiative, a scheme created by Prime Minister Modi to give all Indians access to banking services, including credit, savings, insurance, direct benefits transfer and electronic payments.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $15m to Eskhata Bank of Tajikistan to Fund Small, Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that it will loan the equivalent of USD 15 million to Eskhata Bank, a commercial bank in Tajikistan.
MICROCAPITAL BRIEF: Incofin’s Rural Impulse Fund Loans $750k to Bimputh Finance of Sri Lanka for Microfinance
Belgium-based Incofin Investment Management (Incofin IM), a private company that manages funds investing in microfinance institutions (MFIs) and directly invests in companies in developing countries, recently disbursed a loan of USD 750,000, via its Rural Impulse Fund (RIF I), to Bimputh Finance, a Sri Lankan non-banking finance company.
MICROCAPITAL BRIEF: BIO, Cordaid, Incofin, KfW Commit $25m to Launch Wholesale Fund for DRC Under Nonprofit Fonds pour l’inclusion financière en République Démocratique Congo (FPM)
The Belgian Investment Company for Developing Countries (BIO), which is owned by the government of Belgium and seeks to support the sustainable development of the private sector; the Catholic Organisation for Relief and Development Aid (Cordaid), a Netherlands-based NGO; Incofin Investment Management (Incofin), a private Belgian company that manages funds investing in microfinance institutions (MFIs) in developing countries; and Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a state-owned development bank in Germany, jointly have offered a “capital contribution” of USD 25.1 million for Fonds pour l’inclusion financière en République Démocratique Congo (FPM), a nonprofit in the Democratic Republic of the Congo (DRC).
SPECIAL REPORT: European Microfinance Platform (e-MFP) Announces Finalists for Fifth European Microfinance Award for Environmental Products: ESAF Investments of India, Kompanion of Kyrgyzstan, XacBank of Mongolia
The European Microfinance Platform (e-MFP), a Luxembourg-based network of approximately 130 microfinance organizations and individuals, has announced that there are three finalists for the Fifth European Microfinance Award, which is themed “Microfinance and the Environment” for 2014[1].