The EU’s European Investment Bank (EIB) recently agreed to loan EUR 20 million (USD 21.9 million) to Sahanala, a farmer-owned social enterprise in Madagascar, for a project to: (1) mechanise farms to increase agricultural yields; (2) develop enterprises that process grains, oils and animal feed for domestic sales; and
Tag: European Investment Bank
MICROCAPITAL BRIEF: Reefy Microfinance Borrows $6.5m from EBRD for Youth-led MSMEs in Egypt
Reefy Microfinance Enterprise Services, an Egypt-based microfinance institution (MFI), recently agreed to accept a loan of EGP 200 million (USD 6.5 million) from the UK-based European Bank for Reconstruction and Development (EBRD). The loan is part of EBRD’s
MICROCAPITAL BRIEF: EIB Loans $214m to Sicredi for Solar Panels for Households, SMEs in Brazil
Banco Cooperativo Sicredi, a Brazil-based financial cooperative owned by its 6.5 million members, recently agreed to borrow EUR 200 million (USD 214 million) from the EU’s European Investment Bank (EIB). Sicredi plans to use the capital to equip houses and
MICROCAPITAL BRIEF: Uzpromstroybank (UzPSB) Borrowing $15m from EBRD for SMEs in Uzbekistan
The multilateral European Bank for Reconstruction and Development (EBRD) recently agreed to provide a two-year loan in local currency equivalent to USD 15 million to the Uzbekistani bank Uzpromstroybank (UzPSB) for on-lending to small and medium-sized enterprises (SMEs) in the country. Contingent on the performance of the wholesale loan, EBRD is planning to
MICROCAPITAL BRIEF: EIB Lends Credo Bank $10m for MSMEs in Georgia
The EU’s European Investment Bank (EIB) recently agreed to loan Credo Bank, a commercial bank in Georgia, GEL 28.8 million (USD 10 million) to expand its financing of micro-, small and medium-sized enterprises (MSMEs). The floating-rate loan is synthetic, meaning it is denominated in euros but
MICROCAPITAL BRIEF: Major Development Funders Launch “Alliance for Entrepreneurship in Africa” to Support SMEs – Especially Those Run by Women, Youth
A group of organizations involved in international development recently launched the Alliance for Entrepreneurship in Africa (AforE) with the aim of supporting the growth of small and medium-sized enterprises (SMEs), particularly those owned or operated by youth and female entrepreneurs. The alliance seeks to
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: EIB Lends Ecobank Group $113m for SMEs in Africa, with Emphases on Women, Adjusting to COVID-19
The Togo-based Ecobank Group recently received a 9-year credit facility of EUR 100 million (USD 113 million) from the EU’s European Investment Bank (EIB). The purpose is to help develop the small and medium-sized enterprise (SME) sector, with a particular emphasis on the
MICROCAPITAL BRIEF: Co-operative Bank of Kenya, European Investment Bank Announce $56m Investment for SMEs Impacted by COVID-19 Pandemic
The EU’s European Investment Bank (EIB) and the Co-operative Bank of Kenya, a publicly traded commercial and investment bank, recently partnered to channel EUR 50 million (USD 56 million) to Kenyan “companies active in sectors most challenged by the COVID-19 pandemic.” In particular, the line of credit from EIB will enable firms with up to 250 employees to access
MICROCAPITAL BRIEF: Vital Finance Borrows $5m from EIB for Microfinance in Benin, Mostly for Women
The EU’s European Investment Bank (EIB) recently agreed to a partnership with Vital Finance, a microlender in Benin, to support smaller businesses via a loan of EUR 4 million (USD 4.8 million). The wholesale loan, which is the first Vital Finance has taken from EIB, is to fund an estimated 77,000 retail loans, 70 percent of which are to go to female entrepreneurs. Vital Finance CEO Wakil Adjibi stated that the partnership with EIB
MICROCAPITAL BRIEF: EIB to Loan $8.3m to Banco ADOPEM, Targeting Women Microentrepreneurs in Dominican Republic
The EU’s European Investment Bank (EIB) recently agreed to loan approximately DOP 480 million (USD 8.33 million) to Banco de Ahorro y Crédito ADOPEM, a microfinance institution (MFI) in the Dominican Republic, targeting microentrepreneurs as they adjust to the COVID-19 pandemic. The wholesale loan will allow ADOPEM to provide approximately 27,000 re
MICROCAPITAL BRIEF: EIB Loans $100m to COFIDE of Peru to Support Energy Efficiency, Renewables, SMEs
The European Investment Bank (EIB), the long-term lending institution of the EU, recently loaned USD 100 million to Corporación Financiera de Desarrollo (COFIDE), a development bank owned by the Peruvian government, to provide support to small businesses and projects to reduce the climate impacts of energy usage. This includes investments
MICROCAPITAL BRIEF: Green for Growth Fund Loans $5m in Local Currency to TBC Leasing to Boost Energy Efficiency of SMEs in Georgia
The Green for Growth Fund (GGF), a Germany-based investment fund, recently loaned TBC Leasing, a member of Georgia’s Tbilisi Business Centre (TBC) Bank, approximately GEL 16 million (USD 5 million) to fund the leasing of equipment
MICROCAPITAL BRIEF: EIB Lends $12m to Credo Bank for Microfinance in Rural Georgia to Offset Effects of COVID-19 on Food Production
Credo Bank, a microfinance institution in Georgia, recently accepted a local-currency loan in an amount approximately equivalent to USD 11.8 million from the EU’s European Investment Bank (EIB). Credo will use the funds to on-lend primarily as working capital for people living in rural areas,