The International Finance Corporation (IFC), a member of the World Bank Group, recently loaned KES 10 billion (USD 100 million) to the Kenyan member of the Equity Bank Group, a provider of microfinance and conventional financial services in six countries, to: (1) increase its lending to small and medium-sized enterprises (MSMEs); (2) enhance its regulatory capital; and (3) finance renewable energy projects. IFC also will provide Equity Bank Kenya with advisory support related to the subordinated loan, the cost of which has not been revealed. The IFC-funded loans will range in size from KES 1 million (USD 10,000) to KES 200 million (USD 2 million) to benefit firms that fit at least one of the following criteria:
Tag: Social Investments
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Loans $10m to FinLux ELLEN Sarl to Promote Solar Electricity Access in Chad in Partnership with Bren-Tronics
The Overseas Private Investment Corporation (OPIC), the development finance institution of the US government, recently loaned USD 10 million to FinLux E Longlife Energies Nouvelles (ELLEN), a firm registered in France, to distribute solar-powered devices to households, small businesses, medical clinics and educational institutions in Chad. To minimize the upfront cost to users, “the Project Company will retain ownership” of the devices.
MICROCAPITAL BRIEF: Green for Growth Fund (GGF) Loans $1.1m to Microcredit Foundation Lider to Reduce Energy Costs, Carbon Emissions in Bosnia and Herzegovina
The Green for Growth Fund (GGF), a Luxembourg-based public-private partnership, recently loaned EUR 1 million (USD 1.14 million) to Lider, a microcredit foundation based in Sarajevo, to reduce emissions of carbon dioxide in rural regions of Bosnia and Herzegovina. Lider will on-lend the funds to households and small-scale farmers to
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $5m to Al Majmoua for Enterprise, Housing Microfinance in Lebanon
Sanad Fund for MSME, a Luxembourg-based investor in lenders to micro-, small and medium enterprises (MSMEs), recently loaned USD 5 million to Al Majmoua, a provider of financial and business development services to underserved groups in Lebanon. The funds are to be on-lent to low-income individuals for housing improvements and to very small enterprises for business needs.
MICROFINANCE EVENT: Impact Investing Summit; December 6 – 7, 2018; London, United Kingdom
This Impact Investing Summit aims to create dialogue among current and potential impact investors regarding the future of international impact investing. The term refers to
MICROCAPITAL BRIEF: FMO Arranges $15m in Debt Financing for Pay-as-you-go Solar Power Provider Kingo of Guatemala
The Netherlands Development Finance Company, a public-private bank also known by its Dutch acronym FMO, recently arranged USD 15.5 million in local-currency financing for Solesco Centroamérica, a Guatemalan solar company that primarily serves rural areas under the brand name Kingo. The funding comes in the form of a seven-year, local-currency loan with funding equivalent to
MICROCAPITAL BRIEF: FMO Extending $450k Convertible Grant to Kenyan Fintech Firm Lendable
The Netherlands Development Finance Company, a public-private bank also known by its Dutch acronym FMO, recently agreed to extend a convertible grant of USD 450,000 to Lendable, a Kenyan firm that offers financing and analytics services to organizations such as leasing companies; pay-as-you-go energy service providers; and lenders to micro-, small and medium-sized enterprises. Convertible grants allow investors
MICROCAPITAL BRIEF: Canada Donating $29m for Youth, Women’s Entrepreneurship Programs in Palestine to be Run by CARE Canada, CowaterSogema International, Mercy Corps, Save the Children
The government of Canada recently announced it will fund four projects under its program titled Women and Youth Empowerment, Entrepreneurship and Employment in the West Bank & Gaza. More specifically, Global Affairs Canada, the government’s international development and diplomatic relations department,
MICROCAPITAL BRIEF: GSG Studying Feasibility of $1b Latin America Impact Fund of Funds (LIFF)
The UK-based Global Steering Group for Impact Investment (GSG) recently announced the launch of the Latin America Impact Fund of Funds (LIFF) Task Force, a group of Latin American impact investors that will estimate the potential of LIFF, a fund of funds that would supply debt and equity capital to social impact funds in 20 Latin American countries.
MICROFINANCE EVENT: TBLI Conference Nordic 2018; November 8 – 9, 2018; Stockholm, Sweden
As in previous editions in several other countries, the next TBLI Conference will consider triple bottom line investing (TBLI) – investing that “benefits investor, environment, and society” – including environmental, social and governance (ESG) investing. Sessions will address the
MICROCAPITAL BRIEF: Social Finance Global Network, Global Steering Group for Impact Investment (GSG) Launching Social Finance India; Seeking to Raise $2b for Education, Other Double Bottom Line Investing
The UK-based Social Finance Global Network (SFGN), an group of nonprofits supporting impact investing, and the UK-based Global Steering Group for Impact Investment (GSG), which has 19 country members plus the EU, recently announced the debut of Social Finance India. This new NGO is seeking to raise USD 1 billion each for the India Impact Fund of Funds (IIFF) and
MICROFINANCE PAPER WRAP-UP: Global Impact Investing Network (GIIN): “8th Annual Impact Investment Survey,” Sponsored by US Agency for International Development (AID), UK Department for International Development (DFID)
Following is a summary of a paper published by the Global Impact Investing Network (GIIN), May 2018, 53 pages, available at:
https://thegiin.org/assets/2018_GIIN_Annual_Impact_Investor_Survey_webfile.pdf
The Global Impact Investing Network (GIIN) recently collected “229 respondents’ perspectives on the growth and development of the impact investing industry” as part of its Annual Impact Investment Survey.
MICROFINANCE EVENT: Aspen Network of Development Entrepreneurs’ (ANDE’s) Metrics from the Ground Up; June 12 – 13, 2018; Washington, DC, USA
Summary of Event: The tenth iteration of this event will address how to quantify impact in the “small and growing businesses” (SGBs) sector. Participants will take stock of the progress made over the last decade as well as discussing ways to overcome challenges in the industry. Draft agenda items include; Collecting Data Across the Five Dimensions of Impact, Using Outcome Data to
MICROFINANCE EVENT: SOCAP18; October 23 – 26, 2018; San Francisco, California, USA
Event Summary: At the eleventh edition of this gathering, speakers will delve into topics related to impact investing and social entrepreneurship. Although this year’s agenda is not final, SOCAP17 included a networking session specific to agriculture, a session titled Neighborhood Economics and one
MICROFINANCE EVENT: Asian Venture Philanthropy Network (AVPN) Conference; June 4 – 7, 2018; Singapore
Summary of Event: This sixth iteration of this event centers on maximizing social impact in Asia through investing and philanthropy. The topics are to include “strategic philanthropy,” investing in education and healthcare, investing with a gender lens, government policy implications, and
MICROFINANCE EVENT: Africa Innovation Summit (AIS); June 6 – 8, 2018: Kigali, Rwanda
Summary of Event: The theme of this conference is facilitating development in Africa by empowering entrepreneurs across the continent. The topics include Challenges and Opportunities for Innovation in Africa; Building a Resilient and Competitive Economy for Africa’s Future; 21st Century African Cities; Financing and Scaling up
MICROFINANCE BRIEF: ResponsAbility Microfinance Leaders Fund (rAMLF) Loans $2.5m to FINCA Kyrgyzstan, $500k to HUMO and Partners of Tajikistan
Switzerland’s responsAbility social investments recently reported to MicroCapital that its Microfinance Leaders Fund (rAMLF) has loaned USD 2.5 million to FINCA Kyrgyzstan and USD 500,000 to HUMO and Partners of Tajikistan.