The multilateral Council of Europe Development Bank (CEB) and two EU institutions, the European Parliament and the European Commission, recently launched the Housing and Empowerment for Roma (HERO) program in Bulgaria. As part of the program, Tokuda Bank, which is based in the Bulgarian city of Sofia, will provide 200 members of the Roma community with microloans totaling EUR 490,000 (USD 550,000) as well as financial literacy training. The purpose of the loans is to
Tag: European Commission
MICROCAPITAL BRIEF: European Investment Bank Launches EIB Global to Expand in Africa, Asia, Latin America
The EU’s European Investment Bank (EIB) recently launched a new unit, EIB Global, to expand its operations in Africa, Asia and Latin America with support from Team Europe, an initiative launched by the EU to help countries worldwide adjust to the COVID-19 pandemic. To support its expanded geographic scope,
MICROCAPITAL BRIEF: Malawi Among Hosts of European Commission, OACPS, UNCDF Digital Finance Program for Women, Youth
The EU’s European Commission (EC); the Organization of African, Caribbean and Pacific States (OACPS); and the UN Capital Development Fund (UNCDF) recently announced the first two implementations of a program with a budget of EUR 15 million (USD 17.7 million) intended to utilize digital finance to improve financial inclusion and access to e-commerce for
MICROCAPITAL BRIEF: FEI OGEF Loans $4m to Bboxx to Expand “Pulse” Electric Power Management, Pay-as-you-go Solar Energy in DRC
The Off-Grid Energy Access Fund (OGEF), a debt fund of the Facility for Energy Inclusion (FEI), recently lent USD 4 million to Bboxx, a UK-based solar energy installation and financing firm that is active in Africa and Asia. The loan proceeds are slated to help Bboxx meet its agreement with
MICROCAPITAL BRIEF: The Currency Exchange Fund (TCX) Raises $200m in Equity from EU, IFC, KfW, PROPARCO to Manage FX Risk for Microfinance, Other Impact Investments
The Currency Exchange Fund (TCX) recently raised a total of USD 200 million in equity financing that it will use to lower the foreign-exchange risk of third-party impact investments in developing nations. TCX hedges emerging-market currencies to support investments