The Green for Growth Fund (GGF), a Luxembourg-based lender to projects deemed beneficial to the environment, recently disbursed two loans to nonprofit microfinance institutions (MFIs) in Bosnia and Herzegovina: one in the amount of EUR 5 million (USD 5.8 million) to Partner Microcredit Foundation (MCF) and the other in the amount of EUR 1 million (USD 1.2 million) to Mi-Bospo.
Tag: Europe
MICROCAPITAL BRIEF: responsAbility-managed Private Equity Vehicle Acquires 51% Stake in Bank Lviv, Lender to SMEs, Agricultural Firms in the Ukraine
A private equity investment vehicle managed by responsAbility Investments AG, a Switzerland-based asset manager specializing in impact investments in developing countries, recently paid an undisclosed sum to buy a 51-percent
MICROCAPITAL BRIEF: IFC Loans $1.2m to AFK of Kosovo for Microlending to Smallholder Farmers; Micro-, Small Enterprises (MSEs)
The International Finance Corporation (IFC), a unit of the World Bank Group, recently loaned EUR 1 million (USD 1.2 million) to the Agency for Finance in Kosovo (AFK), a microfinance institution that focuses on
MICROCAPITAL BRIEF: EBRD Loans $59m in Local Currency to ProCredit Bank of Bulgaria for On-lending to SMEs
The European Bank for Reconstruction and Development (EBRD), a UK-based development bank, recently loaned EUR 50 million (USD 59 million) to ProCredit Bank (Bulgaria) EAD, a provider of financial services to individuals and
MICROFINANCE EVENT: 6th International Conference on Sustainable Development; September 12 – 13, 2018; Rome, Italy
Event Summary: For the sixth iteration of this event, the European Center of Sustainable Development again is inviting academics and private-sector representatives to discuss “sustainability in an holistic perspective, where environmental, cultural, economic and social concerns intersect.”
MICROCAPITAL BRIEF: Namibia’s Trustco Borrows $33m from Norsad, EIB, Others
Verdant Capital, a corporate finance firm with offices in South Africa, Mauritius and Ghana, recently arranged debt financing totaling ZAR 450 million (USD 33 million) for Trustco Group, a Namibia-based financial services provider firm.
MICROCAPITAL BRIEF: IKEA Foundation Donating $6m to Habitat for Humanity to Improve Homes in India, Kenya
The IKEA Foundation, an affiliate of the Sweden-founded IKEA group of furniture companies, recently announced a donation of EUR 5.3 million (USD 6 million) to Habitat for Humanity, a US-based nonprofit that aims to provide safe housing options for people in need.
MICROCAPITAL BRIEF: Incofin Microfinance Funds Exit Equity Investments in Bolivia’s Banco FIE
Incofin Investment Management, a Belgium-based investment management firm focusing on microfinance institutions (MFIs) in developing countries, recently announced sales of some of its equity in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), a Bolivian bank focusing on the financially excluded, to the bank’s incumbent shareholders.
MICROCAPITAL BRIEF: ResponsAbility to Loan Additional $3m to Bolivian Microfinance Institution Diaconia FRIF
ResponsAbility, a Switzerland-based asset management firm specializing in development investments, recently informed MicroCapital that it is lending an additional USD 3 million to Diaconia Fondo Rotativo de Inversion y Fomento (FRIF), a non-banking financial institution based in Bolivia.
MICROCAPITAL BRIEF: Netherlands’ FMO Appoints Jürgen Rigterink as CEO
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that Jürgen Rigterink will take over as its Chief Executive Officer (CEO) as of October 2016, pending approval by the Dutch central bank.
MICROCAPITAL BRIEF: Kreditech Raises $104m from Amadeus, International Finance Corporation (IFC), Peter Thiel, Previous Investors for Monedo Online Lending Platform
Kreditech, a German financial technology company, recently announced that it raised EUR 10 million (USD 11.2 million) as part of its Series C funding round from the International Finance Corporation (IFC), a member of the US-based World Bank Group, to invest mainly in its Monedo platform, which provides on-line banking products to consumers in both emerging and developed markets.
MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Provides Microfinance Label to GLS Alternative Investments-Mikrofinanzfonds (GLSMIKA), Renews Labels for 14 Investment Funds
The Luxembourg Fund Labeling Agency (LuxFLAG), a Luxembourg-based nonprofit organization that certifies the operations of investment vehicles that support microfinance and environmental initiatives, recently announced it granted its Microfinance Label for the first time. The fund is promoted by German bank Gemeinschaftsbank für Leihen und Schenken (GLS).