SME Rating Agency of India Limited (SMERA), a joint initiative of the Small Industries Development Bank of India, Dun & Bradstreet Inc., and several public and private sector banks, has launched a rating service for microfinance institutions (MFIs). SMERA-MFI Rating is an independent agency that will assess the financial and social performance of MFIs in India. Continue Reading »

Written by David Lascelles and Sam Mendelson, released in June 2009 as publication number 85 of the Centre for the Study of Financial Innovation (CSFI), sponsored by Citi Foundation and the Consultative Group to Assist the Poor (CGAP), 52 pages, available at: http://www.cgap.org/gm/document-1.9.35203/Microfinance%20Banana%20Skins%202009.pdf

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The Inter-American Development Bank’s Multilateral Investment Fund has approved a USD 2 million loan and USD 150,000 in technical cooperation to help Centro de Investigación y Desarrollo Regional (CIDRE) to expand access to credit and other financial services for small producers, micro and small enterprises and rural communities in Bolivia. The funding will allow CIDRE to expand its loan portfolio, as well as assist in the transition into a regulated microfinance institution (MFI). Continue Reading »

Several international finance organizations have invested in a new microfinance institution, AccessBank Tajikistan.  Access Microfinance Holding AG (AccessHolding) will hold a majority stake in the new bank, and international investors including the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and Kreditanstalt fuer Wiederaufbau (KfW) will invest a total of USD 11 million for equity stakes.  AccessBank Tajikistan will launch operations in late 2009 in the Tajik capital, Dushanbe. Continue Reading »

The Fifth Annual Meeting of the Clinton Global Initiative (CGI) will be held September 22-25, 2009 in New York City. GGI is introducing four new Action Areas this year, including the Financing a Sustainable Future program. Under this Action Area, participants will discuss and make “Commitments to Action” on impact investing in micro, small and medium enterprises, housing in developing countries, climate adaptations, and microinsurance. Continue Reading »

Mobile Banking & Financial Services Africa
July 20-22, 2009, Johannesburg, South Africa

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

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In its second round of fundraising, Grama Vidiyal Micro Finance Limited, a microfinance institution (MFI) based in Tamil Nadu, India, raised USD 4.25 million from MicroVest, Unitus Equity Fund, and the Amar Foundation. Continue Reading »

Working Capital for Community Needs (WCCN), a U.S.-based non-profit, has offered loans totaling USD 530,000 through their Nicaraguan Credit Alternatives Fund (NICA Fund) to Cooperativa de Servicios Multiples 20 de Abril R.L. and Cooperative San Antonio, as reported to the CGAP Microfinance Dealbook. Continue Reading »

Faulu Kenya Limited has been granted a license to accept deposits, the first microfinance institution (MFI) in Kenya to receive such a permit. Governor of the Central Bank of Kenya (CBK) Njuguna Ndung’u has announced that as many as nine MFIs will receive such licenses by the end of the year. Continue Reading »

Socially Responsible Investing – Here and Abroad
June 26, 2009 Monterey, California

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

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The winners of a new Social Performance Reporting Award were announced at the Annual Social Performance Task Force Meeting in Madrid, Spain. AMK in Cambodia, FINCA Peru, and Prisma Peru received the Gold Award, and Asasah from Pakistan received the Silver Award. Continue Reading »

Blue Orchard Finance disbursed over USD 28 million in loans to 13 microfinance institutions (MFIs) in May.  As reported to the CGAP Microfinance Dealbook, Blue Orchard Finance loaned USD 15.5 million through the Dexia Micro-Credit Fund and USD 1 million through the BBVA Codespa Microfinance Fund. Blue Orchard is also an advisor to the Microfinance Enhancement Facility, launched by the International Finance Corporation and KfW Entwicklungsbank, which disbursed its first four loans totaling USD 12 million. Continue Reading »

The World Bank Group has announced the establishment of an Agriculture Finance Support Facility to support the expansion of rural finance in developing countries. The Facility is made possible by a USD 20 million grant from the Bill & Melinda Gates Foundation, through their Financial Services for the Poor program. Continue Reading »

Triodos Bank has reported to the CGAP Microfinance Dealbook investments totaling approximately USD 900,000 this month.  The bank has invested 834,000 in IMON International in Tajikistan through the Triodos-Doen Foundation, and has loaned 61,000 to BICC in Honduras through the Hivos-Triodos Fund. Continue Reading »

The Financial Times (FT) and the International Finance Corporation (IFC) announced the winners of the 2009 Sustainable Banking Awards. Triodos Bank of the Netherlands was named Sustainable Bank of the Year. Other microfinance programs were recognized, with MicroEnsure winning the award for Achievement in Basic Needs Financing, and Root Capital taking the Achievement in Banking at the Bottom of the Pyramid award. Continue Reading »

Incofin is a Belgium-based private social investment company that invests in microfinance institutions (MFIs) through loans, equity investments, and guarantees. In addition to its own portfolio, Incofin manages four microfinance funds  – the Impulse Microfinance Investment Fund, the Rural Impulse Fund, VDK MFI Fund, and Volksvermogen. As of April 30, 2009, Incofin had invested EUR 127.8 million (USD 178.5 million) in 65 MFIs across 26 countries. In May, Incofin reported to the CGAP Microfinance Dealbook that it had offered debt products totaling USD 4.375 million to three MFIs – Seilanithih in Cambodia, Apoyo Integral in El Salvador, and Mibanco in Peru. Continue Reading »

Event Name: Diagnostic to Action: Microfinance in Africa Multi-Stakeholder Conference

June 4, 2009, Nairobi, Kenya

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PlaNet Finance Group plans to expand its microinsurance schemes throughout the Middle East and North Africa (MENA), following the implementation of a microinsurance program in Egypt with First Microfinance Foundation (FMF) and global insurance company Allianz. Continue Reading »