The International Labor Organization (ILO), an agency of the United Nations, a humanitarian organization promoting peace and better living standards, and the European Development Research Network (EUDN), an academic network of economic development researchers, recently announced that they are accepting grant applications for research funding from the Microinsurance Innovation Facility. Continue Reading »

The Bombay Stock Exchange Limited (BSE) of India now includes SKS Microfinance in the BSE-500 index, effective September 13, 2010. Continue Reading »

Trident Microfin Private Limited (formerly known as Annapurna Financial Services Private Limited), an Indian microfinance institution, recently announced it plans to raise INR 750 million (USD 16 million) in equity financing from high-net-worth individuals and two existing investors, Caspian Advisors’ Bellwether Microfinance Fund and the India Financial Inclusion Fund, both of which are India-focused equity investment funds. Continue Reading »

Event Name: Prepaid Mobile 2010
Event Date: September 27-September 30, 2010
Event Location: Barcelona, Spain Continue Reading »

The microfinance industry in Pakistan is anticipating PKR 3 billion (USD 35 million) of financial losses due to recent floods and subsequent damages. Continue Reading »

The Lagos State government recently announced it has committed NGN 1.3 billion (USD 8.5 million) to the Lagos State Microfinance Institution (LASMI) for distribution to microfinance banks in Nigeria. Continue Reading »

The National Bank of Rwanda (BNR) recently announced that it hosted a regional meeting of central bankers and regulators to discuss the alignment of rules and regulations that govern the microfinance industry within the countries of the East African Community (EAC), which includes the Republics of Kenya, Uganda, Rwanda and Burundi and the United Republic of Tanzania. Continue Reading »

Ujjivan Financial Services, an Indian microfinance institution, recently announced the launch of its new short-term business loan (STBL) product in Delhi, India. Continue Reading »

Spandana Sphoorty Financial Limited, an Indian microfinance institution, recently announced that it had loaned a total of INR 151 billion (USD 3 billion) since its founding in 1998 through August 31, 2010. Continue Reading »

AccessBank, a financial institution based in Azerbaijan, recently announced the launch of a new education loan product. The product is intended to finance students’ post-secondary education and offers lower interest rates for students earning high grades. Continue Reading »

The United Nations Development Program (UNDP), the development arm of the United Nations, a humanitarian organization promoting peace and better living standards, in collaboration with the United Nations Capital Development Fund (UNCDF), the United Nations’ investment capital and technical advice program, and CARE International, a Swiss non-governmental organization, has completed a week-long financial training program for 100 women representing five community-based organizations in Liberia. Continue Reading »

Suryoday Microfinance Private Limited, an Indian non-banking financial company (NBFC), recently announced the closing of its Series B equity financing for a total of INR 175 million (USD 3.8 million), provided by Lok Capital, a new investor in the company, and Suryoday’s existing investor Aavishkaar Goodwell, both of which are social investment/microfinance equity funds operating in India. Continue Reading »

Indian microfinance institution SKS Microfinance’s market capitalization has reached the equivalent of USD 2 billion subsequent to the launch of its initial public offering (IPO) trading commencement on the Bombay Stock Exchange and the National Stock Exchange of India on August 16, 2010, as reported by MicroCapital on August 17, 2010. Continue Reading »

The Insurance Regulatory and Development Authority (IRDA), India’s insurance regulatory organization, recently announced a draft set of regulations for insurers providing micro-life insurance policies. Continue Reading »

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it will conduct a microfinance institution tour in Mongolia from October 12 through October 14, 2010, with policymakers from Azerbaijan, Bosnia and Herzegovina, Kazakhstan, Kyrgyz Republic and Tajikistan. Continue Reading »

The European Bank for Reconstruction and Development (EBRD), a London-based development finance institution, recently announced it is providing an unsecured, five-year loan of RUB 2.9 billion (USD 94 million) to Credit Europe Bank Limited of Russia. Continue Reading »

The Asian Development Bank (ADB), an international development finance institution based in Manila, the Philippines, is providing a USD 750,000 grant to the People’s Republic of China and Mongolia for technical assistance to develop the microinsurance sector in these countries. Continue Reading »

In cooperation with Ujjivan Financial Services, an Indian microfinance institution, the Parinaam Foundation, an Indian nonprofit organization, recently refunded interest of INR 111,000 (USD 2,000) charged on education loans made to Ujjivan customers. Continue Reading »