Sumitomo Mitsui Banking Corporation (SMBC), a Japanese financial services company, reportedly announced plans to purchase a 12.25-percent equity stake consisting of approximately 27.6 million shares in Acleda Bank (Acleda), a Cambodian commercial bank, for a total cost of USD 110 million.
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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan $150m in Jordan Including to Bank Al Etihad, Cairo Amman Bank for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering setting up a senior unsecured credit facility in the amount of USD 150 million for banks in Jordan for on-lending to micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: MicroVentures Invests $13.5m in Equity in Microfinance Institution Grameen Koota of India
Indian non-banking financial company Grameen Financial Services Private Limited, which is also known as Grameen Koota, reportedly has received an equity investment of USD 13.5 million from Italy-based private equity firm MicroVentures.
MICROCAPITAL BRIEF: Saving for Change Reaches 85k Members in Cambodia, 680k Worldwide
Saving for Change (SfC), a saving-group initiative that was established in 2005 by nonprofit organizations Oxfam America, Freedom from Hunger and the Stromme Foundation, has grown to serve approximately 85,000 women in Cambodia as of March 2014 since its launch in that country in 2011.
MICROCAPITAL BRIEF: Seven International Lending Institutions Launch Council on Smallholder Agricultural Finance (CSAF)
The Council on Smallholder Agricultural Finance (CSAF), an alliance focused on creating a sustainable financial market for small agricultural businesses, recently was launched by seven international lending institutions at the 11th Skoll World Forum on social entrepreneurship in Oxford, United Kingdom.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Mongolia Seek to Improve Secured-Transaction Payment System
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, has recently partnered with Mongolia’s Ministry of Justice to augment Mongolia’s regulatory system for secured-transaction payments, transactions between lenders and borrowers that are predicated on borrowers’ collateral.
MICROCAPITAL BRIEF: India-based Five Star Raises Equity Financing from Matrix to Expand Branch Network, Increase Lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)
Five Star Business Credits (Five Star), an Indian non-bank financial company that lends to micro-, small and medium-sized enterprises (MSMEs) in the country, recently announced that it has raised an undisclosed sum in equity financing from Matrix Partners India, the Indian subsidiary of US-based private equity firm Matrix Partners.
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Lends $45m to FINCA Microfinance Holding to Increase Outreach, Range of Services
The Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, is lending USD 45 million to the Foundation for International Community Assistance (FINCA) Microfinance Holding (FMH), a for-profit investment vehicle controlled by US-based NGO FINCA International [1].
MICROCAPITAL BRIEF: Acleda Bank Plans to Open 12 New Branches in Myanmar, 4 in Laos
Alceda Bank, a microfinance bank based in Cambodia, reportedly plans to expand its operations in Myanmar and in Laos. By the end of 2014, it intends to increase its network of branches from six to 18 in Myanmar and from 41 to 45 branches in Laos.
MICROFINANCE PUBLICATION ROUND-UP: From Access to Inclusion: Educating Clients; Economics of Digital Payment Systems; Financial Inclusion and Post Offices
“From Access to Inclusion: Educating Clients,” published by Women’s World Banking; 2013; 32 pages, available at http://www.womensworldbanking.org/publications/access-inclusion-educating-clients/
This report addresses the use of mass media campaigns and one-to-one outreach by financial institutions to provide financial education to low-income women in order to promote increased usage of financial products. Research by Women’s World Banking (WWB) indicates that people with the most need for microfinance products, such as small business loans, savings accounts and microinsurance, often fail to use the services not because of lack of access, but rather due to inexperience with the formal financial sector.
MICROCAPITAL BRIEF: Dutch Development Bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) Planning to Loan $10m to Bank Andara of Indonesia for On-lending to Microfinance Institutions (MFIs)
Dutch development bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) recently signed a letter of intent with Bank Andara (Andara), an Indonesian provider of retail and wholesale microfinance services, to provide a local-currency senior loan equivalent to USD 10 million for on-lending to local microfinance institutions (MFIs).
MICROCAPITAL BRIEF: ResponsAbility of Switzerland Loans $20m to Microfinance Institution Financiera Confianza of Peru
ResponsAbility Investments, a Swiss investor in microfinance and other sectors, recently loaned USD 20 million to Financiera Confianza, a Peruvian NGO microfinance institution (MFI). Further information on the transaction is not available.
MICROCAPITAL BRIEF: Orix of Japan Buys 6% Stake in Acleda Bank of Cambodia
Orix Corporation, a Japanese financial services conglomerate, reportedly has purchased a 6-percent stake in Acleda Bank Public Limited Company, a microfinance bank in Cambodia [1].
MICROCAPITAL BRIEF: Financial Sector Deepening (FSD) of Kenya, Women’s World Banking of US Partner to Serve Women in Sub-Saharan Africa
Kenya-based Financial Services Deepening (FSD), a trust that provides funding to financial institutions, and US-based Women’s World Banking (WWB), a nonprofit that works with financial institutions to provide financial tools to low-income women in 28 countries, reportedly are partnering to provide financial services to women in Sub-Saharan Africa.
MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $5.7m to Bank Andara to Support Microfinance Institutions (MFIs) in Indonesia
Standard Chartered Bank (SCB), a UK-based financial services company, recently announced that it will disburse a loan of IDR 57 billion (USD 5.74 million) to Bank Andara, an Indonesian commercial institution that provides wholesale services to microfinance institutions (MFIs) and savings services to individuals.
MICROCAPITAL BRIEF: Caspian Advisors Launches $40m Caspian Impact Investments (CII) Fund for Microfinance, Affordable Housing, Agriculture
Caspian Advisors Private Ltd., an Indian investment management and advisory services company specializing in the socially-responsible arena, recently launched the Caspian Impact Investments (CII) fund, which is targeted to raise USD 40 million for projects in the areas of microfinance, small business financing, affordable housing and agriculture.
MICROCAPITAL BRIEF: Belarus Drafts Decree Regulating Microfinance Industry
The government of Belarus reportedly has issued a draft decree that would regulate microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Oxfam, City of London, Symbiotics Invest $1.6m in Xac Leasing of Mongolia through Small Enterprise Impact Investing Fund (SEIIF)
Oxfam UK, a UK-based charity, City of London and Symbiotics, a Swiss microfinance investment intermediary, recently launched a joint initiative known as the Small Enterprise Impact Investing Fund (SEIIF). SEIIF is intended to deliver measurable social as well as financial returns to its stakeholders by investing in small and medium-sized enterprises (SMEs) through financial intermediaries operating in developing countries.