The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it is extending its partnership with QNB Finansbank, a commercial bank in Turkey, with a five-year loan of USD 55 million under EBRD’s “Women in Business” programme.
The Zimbabwe Association of Microfinance Institutions (ZAMFI), a 100-member advocacy group, recently announced its members’ aggregate portfolio-at-risk (PAR) ratio rose from 8.3 percent in December 2016 to 12 percent in March 2017, citing both “corporates and individuals fail[ing] to honour their debt obligations due to the liquidity crisis.”
The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently announced it will loan USD 12.5 million and provide advisory services to Georgia-based joint-stock company (JSC) Terabank.
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has committed to extending the following loans in phases over three years: the local-currency equivalent of USD 3.9 million to KazMicroFinance LLC (KMF) of Kazakhstan, the euro-equivalent of USD 550,000 to Bereke of Kazakhstan, and the euro equivalent of USD 660,000 to Vasham of Indonesia.
Event Name: 13th International Microinsurance Conference: Inclusive Insurance for the Mass Market
Event Date: November 7 – November 9, 2017
Event Location: Swissotel; Lima, Peru
Cost: The maximum fee to attend the conference is USD 1,390, with a range of discounts available, including tiered reductions for those registering by September 1 and October 31. There is no fee for representatives of regulatory and supervisory authorities.
Summary of Event: This conference aims to engage stakeholders on “accelerating growth and economic viability in microinsurance.” It will feature roughly 80 speakers covering topics including: microinsurance across Latin America and the Caribbean; the role of microinsurance in economic development; digital technologies for microinsurance; and the relationships among data, analytics and the future of microinsurance.
Union Bank of Switzerland (UBS) Wealth Management, a unit of Zurich-based UBS, recently announced that it has raised USD 325 million from its high-net-worth clientele to invest in The Rise Fund, a social impact private equity fund managed by the US-based Texas Pacific Group (TPG).
The government of Benin recently increased the budget of its “Microcredit for Very Poor People” program to XOF 3 billion (USD 5.2 million) from XOF 1.2 billion (USD 2.2 million). The program serves people “ineligible for classical bank financing”
German development bank Kreditanstalt für Wiederaufbau (KfW) recently notified MicroCapital that the Fairtrade Access Fund (FAF), which invests in initiatives supporting farmers in developing countries, has issued a trade finance loan of USD 3 million to Enterprise Cooperative Kimbe (Ecookim), a union of 23 cooperatives in Cote d’Ivoire.
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has committed to extending the following local-currency loans in phases over three years: the equivalent of USD 2.9 million to Advans Cote d’Ivoire and the equivalent of USD 890,000 to Premiere Agence de MicroFinance (PAMF) Mali.
Germany-based development bank Kreditanstalt für Wiederaufbau (KfW) recently notified MicroCapital that the Fairtrade Access Fund (FAF), which invests in initiatives supporting farmers in developing countries, has loaned USD 750,000 to Cooperativa DelosAndes, a Colombia-based coffee cooperative, to co-finance a wet mill.
US-based financial services firm Morgan Stanley has reported that it raised USD 125 million for its recently launched Private Markets Fund Integro Fund I, the firm’s first “global impact fund,” which will be managed by Alternative Investment Partners (AIP) Private Markets, Morgan Stanley’s private equity arm.
Arohan Financial Services, an Indian non-banking finance company that offers microloans to women, recently raised INR 155 crore (USD 24.1 million) from Maj Invest, a Danish asset management firm; Tano Capital, a US-based asset management firm focusing on emerging markets; Aavishkaar Venture Management Services, a venture capital firm targeting underserved regions of India; and multiple individuals.
The Institute for Sustainable Investing, a unit of US-based financial services firm Morgan Stanley, in collaboration with The Economist Intelligence Unit, a UK-based advisory affiliated with The Economist magazine, recently released the 2017 Inclusive Growth Opportunities Index, a report on investment opportunities intended to increase access to education, healthcare and finance as well as “gender inclusion.”
The Bank of the Philippine Islands (BPI), which is owned by the Philippines’ Ayala Corporation, recently created BPI Direct BanKo, a microfinance bank intended to cater to “self-employed micro-entrepreneurs.”
CGAP (the Consultative Group to Assist the Poor), a US-based, nonprofit policy and research center that aims to facilitate the expansion of financial access, is seeking submissions of original photographs for its annual competition, which aims to highlight the positive effects of microfinance.
Event Name: Scaling Impact Investing: A Conversation Among Senior Leaders
Event Date: September 18, 2017
Event Location: New York, New York, USA
Cost: There is no fee to attend, but registration is open only to staff of organizations that are members of the Global Impact Investing Network (GIIN).
Summary of Event: This event will include “a showcase of large-scale blended finance funds” as well as discussions on investing in line with the UN’s Sustainable Development Goals [1, 2].
Kiva, a US-based, nonprofit crowdfunding platform for microfinance institutions (MFIs), recently launched its World Refugee Fund to raise money online from individuals for on-lending to institutions serving cross-border refugees and people who have been internally displaced.
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced it will loan RSD 615 million (USD 6 million) to Opportunity Bank Serbia (OBS), a branch of US-based microfinance network Opportunity International, “to support small businesses, especially in rural areas.”