MICROCAPITAL BRIEF: US Agency for International Development (AID), CGAP (Consultative Group to Assist the Poor) Award $1m to ideas42 for Financial Management Tool for Microentrepreneurs

The US Agency for International Development (AID), a government agency that provides international economic and humanitarian assistance, and CGAP (Consultative Group to Assist the Poor), a US-based, nonprofit that aims to facilitate the expansion of financial access, recently awarded approximately USD 1 million to ideas42, a US-based nonprofit consulting and behavioral design firm, for the implementation of a SMS text-messaging “push” notification system and voice-based platform that is intended to help microentrepreneurs better manage their finances. Continue reading

MICROCAPITAL BRIEF: Call for Applicants for $227k Ashden International Sustainable Energy Awards Open until November 4, 2014

Ashden, a UK-based nonprofit established in 2001 that promotes the use of sustainable energy, has issued a call for applicants for the 2015 Ashden International Awards, which will recognize development programs with a focus on reducing carbon emissions and increasing access to sustainable energy. Continue reading

MICROCAPITAL BRIEF: Project Concern International (PCI) to Target 250,000 Additional Women Through Women Empowered (WE) Initiative

Project Concern International (PCI), a US-based non-governmental organization (NGO), recently announced that it plans to scale up the operations of its Women Empowered (WE) initiative by providing approximately 250,000 women, in addition to the 230,000 women it currently serves, with tools and training for their businesses. Continue reading

MICROCAPITAL BRIEF: Grameen Foundation, MicroEnsure, Penda, Clifford Chance Launch Uzima Health Microinsurance in Kenya

The Grameen Foundation, a US-based nonprofit organization; MicroEnsure, a UK-based, for-profit microinsurance company founded by US-based NGO Opportunity International; Penda Health, a Kenya-based, for-profit chain of medical centers; and Clifford Chance, a UK-based international law firm, recently announced that they have launched an initiative called the “Uzima Project” in Kenya with the aim of providing “low-cost“ health insurance. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Commences Advisory Services for Small, Medium-Sized Enterprises (SMEs) in Morocco

The European Bank for Reconstruction and Development (EBRD), a UK-based financial institution that operates in Eastern Europe, Central Asia and North Africa, recently began offering advisory services to support small and medium-sized enterprises (SMEs) in Morocco. Continue reading

MICROCAPITAL BRIEF: Développement international Desjardins (DID), International Co-operative Alliance (ICA), Proxifin Members Endorse Draft Declaration on Food Security, Job Creation, Access to Healthcare

On the occasion of the recently convened International Summit of Cooperatives, Développement international Desjardins (DID), a Canadian nonprofit corporation that specializes in providing technical support and investment for the community finance sector in emerging economies; the International Co-operative Alliance (ICA), a Belgium-based nonprofit with 271 member cooperatives in 94 countries; and microfinance institutions (MFIs) that are members of the Proxifin Network, an international network of 30 community finance institutions coordinated by DID, endorsed a Draft Declaration to tackle the “challenges of food security,” “employment crisis,” and “access to health care and services”[1]. Continue reading

SPECIAL REPORT: Over-indebtedness, Microfinance and Environment Award, Conflict Zones at e-MFP’s European Microfinance Week

MicroCapital: Please describe one of the key issues to be covered this year at European Microfinance Week.

Christoph Pausch: The question of over-indebtedness is still the major risk for the sector, as identified in the most recent Banana Skins survey. We had a very successful plenary last year exploring the issue from a research perspective. This year, we’re taking a very different approach by bringing CEOs of leading microfinance institutions (MFIs) from three countries – Bangladesh, Morocco, and Mexico – to discuss how they’ve been dealing with the issue. Each of these countries has had a different experience, with Bangladesh having successfully averted a potential crisis by slowing market growth (as described in an excellent paper by Stuart Rutherford and Greg Chen). Morocco was one of the original “microfinance crisis” countries during 2008 and 2009, and the MFIs there have had an interesting experience in resolving the problems from that period. Finally, Mexico is a major market with serious concerns regarding over-indebtedness, and MFIs there are working to avert a potential crisis. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $2m to Al Majmoua of Lebanon for On-Lending to Small Businesses, Female Entrepreneurs

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that it will loan USD 2 million to Al Majmoua, a Lebanese nongovernmental organization (NGO) that is also known as the Lebanese Association for Development. Continue reading

MICROCAPITAL BRIEF: National Bank for Agriculture and Rural Development (NABARD) Launches $807m Long-Term Rural Credit Fund

The National Bank for Agriculture and Rural Development (NABARD), a development bank in India that formulates certain credit and banking policies, recently announced the launch of the long-term rural credit fund, which will provide INR 5,000 crores (USD 807 million) for refinancing agricultural loans disbursed by cooperative banks and regional rural banks (RRBs). Continue reading

MICROCAPITAL BRIEF: Oxus Raises $4.2m in Equity from Investors including Agency for Technical Cooperation and Development (ACTED) for Expansion in Asia, Africa

The Oxus Group, a French microfinance organization with subsidiaries in the Democratic Republic of the Congo and three Asian countries, recently raised EUR 3.3 million (USD 4.2 million) in equity through its unit Oxus Holding by selling equity shares to the Agency for Technical Cooperation and Development (ACTED), which already had been its majority shareholder, and three unnamed retail investors. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $19m to Komercijalna banka Beograd of Serbia for Housing Purchases, Improvements

Serbia’s Komercijalna banka Beograd, a bank based in Serbia, recently borrowed EUR 15 million (USD 19.2 million) under a senior loan agreement from the European Fund for Southeast Europe (EFSE), a Luxembourg-based, government-backed microfinance investment vehicle. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction (EBRD) Announces Potential $25m Risk-sharing Endeavor with Société Générale Serbia for Rural Microenterprise Financing Via VisionFund’s AgroInvest

The European Bank of Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it is likely to participate in a risk-sharing endeavor totaling RSD 2.3 billion (USD 25 million) with Société Générale Serbia, a subsidiary of the France-based financial institution Société Générale. Continue reading

MICROCAPITAL BRIEF: United Nations Global Compact, Gate Global Impact Launch Gateway 2.0 to Fund Socially Responsible Projects

The United Nations (UN) Global Compact, an initiative to encourage businesses to adopt sustainable and socially responsible policies, and Gate Global Impact (GGI), a US-based regulatory-compliant electronic marketplace that focuses on impact investing, have launched Gateway 2.0, a website enabling small and medium-sized enterprises (SMEs) listed on the UN Global Compact Social Enterprise Hub to access financing for sustainable and “socially responsible” projects [1]. Continue reading