by Pranav Agarwal -

MICROCAPITAL BRIEF: World Bank ARISE Program Includes $230m Loan for Farmers in Ukraine

The Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) Project – to be implemented by Ukrainian government’s Business Development Fund and Ministry of Agrarian Policy and Food – is intended to provide loans and grants to 90,000 farmers to increase production levels during 2023 and 2024. The project includes a loan of USD 230 million from the World Bank, supported by the

by James Stevenson -

MICROFINANCE PAPER WRAP-UP: “The Global State of Financial Inclusion and Consumer Protection 2022,” by Buddy Buruku et al, published by the World Bank Group

This update of similar reports published in 2013 and 2017 covers legal and regulatory issues related to financial inclusion and consumer protection across the world. The authors surveyed financial regulators and supervisors across 130 economies.

by Pranav Agarwal -

MICROCAPITAL BRIEF: Vanuatu Launches Vanklia System to Automate Large, Small Payments

The Reserve Bank of Vanuatu recently launched a digital payment platform called Vanklia that allows automated clearing house (ACH) transfers as well as real-time gross settlements. The ACH system is designed for lower-value batch payments such as salaries and retail payments, while the

by Renata Samadova -

MICROCAPITAL BRIEF: World Bank’s IDA Lending $15m to Djibouti for Low-income Housing Finance, Policy Reform

The International Development Association (IDA), a unit of the World Bank, recently agreed to lend USD 15 million to Djibouti for a project intended to: (1) scale up an existing partial guarantee fund to boost

by Teo Lin-Bianco -

MICROCAPITAL BRIEF: Tanzania Mortgage Refinance Company (TMRC) Sells $3.8m in Bonds to Boost Access to Home Ownership

The Tanzania Mortgage Refinance Company (TMRC), an institution that refinances the portfolios of housing lenders, recently completed an issue of corporate bonds on the Dar es Salaam Stock Exchange. The bond listing had a target of

by Harriet Ritchie -

MICROCAPITAL BRIEF: IFC Approves $20m Loan to Agrofértil of Paraguay to Support Farming, Gender Equality Amid COVID-19 Downturn

The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to loan up to USD 20 million in working capital to Agrofértil, a company that provides credit, crop insurance, agricultural inputs and “agronomic services” to farmers and farmer cooperatives in Paraguay. Through the loan, which may be renewed yearly for five years, IFC aims to support Agrofértil in its work with farmers cultivating small and medium-sized plots including by endeavoring to “promote

by Teo Lin-Bianco -

MICROCAPITAL BRIEF: IFC Places $18m in Equity in BlackPeak Capital to Support SME Growth in Southeast Europe

The International Finance Corporation (IFC), a member of the World Bank Group, recently issued an equity investment of EUR 15 million (USD 18 million) to BlackPeak Southeast Europe Growth Equity Fund (BlackPeak Fund I), which is

by Teo Lin-Bianco -

MICROCAPITAL BRIEF: IFC Commits $1b to MSMEs in Africa Recovering from Pandemic Recession via Risk Sharing, Mezzanine Financing

The International Finance Corporation, a member of the World Bank Group, recently committed USD 1 billion to finance micro-, small and medium-sized enterprises (MSMEs) through risk sharing and mezzanine financing in collaboration with public and private financial institutions. The loan will target MSMEs in sectors considered more likely to create jobs, given the

by Sophie Fiala -

MICROFINANCE PAPER WRAP-UP: “The Future of Government-to-Person (G2P) Payments: Three Years of Learning About G2P Choice in Zambia;” by Silvia Baur-Yazbeck et al; Published by CGAP, World Bank Group

The authors of this paper evaluated the methods that Zambia’s Ministry of Community Development and Social Services (MCDSS) uses to issue government-to-person (G2P) payments via its Supporting Women’s Lives (SWL) and Girls Education and Women’s Empowerment and Livelihoods (GEWEL) projects. Launched in

by Bradley Shulman -

MICROCAPITAL BRIEF: Ascent Rift Valley Fund II Raises $100m from Public, Private Investors for SMEs in East Africa

Kenya-based private equity firm Ascent Capital Africa recently secured USD 100 million at the first rolling close of its Ascent Rift Valley Fund II (ARVF II), surpassing the firm’s initial goal of USD 80 million. The funds will be invested in small and medium-sized enterprises (SMEs) in East Africa, targeting

by Sophie Fiala -

MICROCAPITAL BRIEF: Government of Madagascar, IFC, Local Insurers Partner on Agricultural Insurance, Seeking to Lower Risk of Lending to Farmers

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced a partnership with the government of Madagascar to boost farmers’ access to insurance that protects their crops from climate-related disasters. The project will engage Malagasy insurance companies to create

by Bradley Shulman -

MICROCAPITAL BRIEF: IFC Invests $24m in Evolving Europe Principal Investments Fund (EEPIF) to Boost SME Finance

The International Finance Corporation (IFC), a member of the World Bank Group, recently invested EUR 20 million (USD 24.2 million) in the Evolving Europe Principal Investments Fund (EEPIF), which is managed by UK-based private equity firm Integral Venture Partners, with the goal of improving the financial inclusion of small and medium-sized enterprises (SMEs) in 14 countries. Among the countries to receive investment are

by Aakansha Shenoy -

MICROCAPITAL BRIEF: Insurtech PasarPolis of Indonesia Raises $5m in Equity from International Finance Corporation (IFC) for Microinsurance

Indonesia-based insurance technology (insurtech) firm PasarPolis recently raised USD 5 million in equity from the International Finance Corporation (IFC), a member of the World Bank Group. The firm plans to use the fresh funds “to develop infrastructure to connect insurers, digital platforms and customers unserved by the traditional insurance sector” during and after the COVID-19 pandemic. The size of the stake

by Harriet Ritchie -

MICROCAPITAL BRIEF: Microsoft, IFC to Support Women Entrepreneurs, Forcibly Displaced Populations in Brazil with Business, ESG, Technology Training

Microsoft, a US-based technology firm, and the International Finance Corporation (IFC), a member of the World Bank Group, recently entered a partnership to deliver business and technology training in Brazil. This is to result in: (1) a publicly available workshop on January 26 regarding how to incorporate environmental, social and governance (ESG) elements into a young business; (2) technology train

by Kate Finster -

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

by Kate Finster -

MICROCAPITAL BRIEF: Tonga Development Bank Launches ‘Ave Pa’anga Pau Digital Remittance Product via Regional Australia Bank

The International Finance Corporation (IFC), a member of the World Bank Group; the Tonga Development Bank (TDB), which is subsidized by the government of New Zealand; and the member-owned Regional Australia Bank recently released ‘Ave Pa’anga Pau, a product allowing Tongans residing in Australia to send remittances to individuals in their home country using their mobile phones. Recipients may direct their funds to a TDB bank account