The European Bank for Reconstruction and Development (EBRD), an international financial institution, and the European Fund for Southeast Europe (EFSE), a microfinance investment fund, recently loaned USD 10 million to ProCredit Bank Moldova, a development-oriented bank. Continue Reading »

The European Fund for Southeast Europe (EFSE), a microfinance investment fund, recently loaned EUR 7 million (the equivalent of USD 9.6 million) to NLB Razvojna banka, a financial institution in Bosnia and Herzegovina. Continue Reading »

Event Name: C5′s Microfinance and Small Enterprise Investments Eastern Europe and Central Asia (EECA) Regional Summit

Event Date: April 15 – April 16, 2010

Event Location: Budapest, Hungary

Event Website: http://www.microfinanceeeca.com/

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Cost: Prices range from GBP 399 to GBP 1598 (USD 620 to USD 2480). Prices vary with the type of organization the attendee represents and whether the attendee wishes to participate in the workshop in addition to, or instead of, the conference. See http://www.microfinanceeeca.com/price.html for more details

Summary of Event:

The two-day conference and workshop will address issues ranging from the effects of the global financial crisis on microfinance institutions (MFIs) to opportunities for commercial banks to begin offering microcredit. Continue Reading »

The Bank of Namibia (BoN), Namibia’s central bank, recently granted a permanent banking license to FIDES Bank Namibia, a microfinance institution (MFI). According to a BoN press release, this entitles FIDES Bank Namibia to “engage in formal or informal banking activities with any person in Namibia, especially soliciting public deposits” [1]. Continue Reading »

The Development Fund of Kyrgyzstan (KDF), an agency of the Kyrgyz government, recently registered the AUB-AGRO Microcredit Company. The company was established as a joint project between the KDF and Asia Universal Bank, a Kyrgyz commercial bank. Continue Reading »

The Major League Baseball Players Association (MLBPA), the trade union of United States Major League Baseball players, recently pledged USD 100,000 to Esperanza International, an organization that aims to alleviate poverty with social programs and microcredit, to aid in the reconstruction of Haiti. The donation will come from the MLBPA’s Players Trust, a fund created by the MLBPA. Continue Reading »

The International Fund for Agricultural Development (IFAD), an agency of the United Nations established to eradicate rural poverty in developing countries, and the Nigerian Federal Government have created a microfinance fund worth NGN 6.1 billion (the equivalent of USD 40 million). The funds will be distributed to rural farmers in 12 Nigerian states by microfinance institutions (MFIs) in the form of microloans. Continue Reading »

The Australian government has agreed to provide AUD 2 million (the equivalent of USD 1.8 million) over the next three years to the Pacific Financial Inclusion Program (PFIP), a program established with the intent of increasing access to financial services among low-income households in the Pacific Islands. Continue Reading »

The International Finance Company (IFC), the investment arm of the World Bank, has signed a long-term agreement with Mexico’s Sistema Integral de Abasto Rural, known as Mi Tienda, to help the distribution center expand its operations to provide owners of micro, small, and medium-sized enterprises (MSMEs) with microcredit, insurance, and other financial services. IFC has agreed to provide USD 2.5 million in equity financing to support the expansion. Continue Reading »