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Friday, November 5, 2010

MICROCAPITAL BRIEF: Micro Housing Finance Corporation (MHFC), Tata Housing Partner to Launch Shubh Griha Housing Project For Lower Income Families Including Microfinance Clients near Mumbai, India

Micro Housing Finance Corporation (MHFC), an India-based housing company that provides home loans to lower income families, has partnered with Tata Housing, an Indian real estate developer, to launch the Shubh Griha housing project near Mumbai, India. Housing units are usually awarded to the general population through a lottery process, but Tata Housing will reserve 208 housing units out of 1200 total units for families that require financial assistance. Continue Reading »

Thursday, November 4, 2010

MICROCAPITAL BRIEF: Microenterprise Access to Banking Services and Rural Bankers Association of the Philippines (MABS-RBAP), G-Xchange Inc. (GXI) Launch FaceCard, an Automated Teller Machine (ATM) Card for Microfinance Banking Clients

Microenterprise Access to Banking Services and Rural Bankers Association of the Philippines (MABS-RBAP), a combined effort that provides technical assistance and training to rural banks in the Philippines, and Globe Telecom’s G-Xchange Inc. (GXI), a telecommunications and mobile banking company, recently launched an automated teller machine (ATM) card that will give microfinance banking clients expanded access to ATMs throughout the country. This FaceCard is tied to GCash accounts, which are mobile phone banking accounts that allow clients to access their funds and perform transactions remotely. Continue Reading »

Wednesday, November 3, 2010

MICROCAPITAL BRIEF: Microfinance Investment Vehicle (MIV) European Fund for Southeast Europe (EFSE) Loans NLB Prishtina of Kosovo and ProCredit Bank Serbia $34.9m

The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) advised by Finance in Motion and managed by Oppenheim Asset Management Services, has reported to MicroCapital that it loaned NLB Prishtina, a commercial bank based in Kosovo, and ProCredit Bank Serbia, a development-oriented bank, a total of USD 34.9 million. Continue Reading »

Tuesday, November 2, 2010

MICROCAPITAL BRIEF: African Development Bank (AfDB), Governments of Denmark and Spain to Create African Guarantee Fund (AGF) to Bring Economic Resources to African Businesses Including Microfinance Institutions (MFIs)

The governments of Denmark and Spain, as well as the African Development Bank (AfDB) have combined resources to create the African Guarantee Fund (AGF), a non-bank financial institution intended to boost the economy and reduce poverty in Africa through improved access to funds for small and medium-sized enterprises (SMEs). Continue Reading »

Monday, November 1, 2010

MICROCAPITAL BRIEF: Uganda’s Microfinance Support Centre Limited (MSC) Moves to Recover Unpaid Loans from SACCOs

Uganda’s Microfinance Support Centre Limited (MSC), a government outfit that supports savings and credit cooperative organizations (SACCOs) in the country, has hired unnamed officials to recoup unpaid loans from SACCOs in northern Uganda. Continue Reading »