The International Fund for Agriculture (IFAD), a United Nations agency based in Rome, will support rural microfinance in Cameroon, West Africa, with a USD 13.5 million loan and USD 200,000 grant. The money will support the IFAD Rural Microfinance Development Support project whose overall goal is to reduce poverty, increase incomes and support the livelihoods of poor in rural areas. The project targets rural populations in the centre, extreme north, north-west and western regions of Cameroon, where access to suitable financial services is difficult. Currently a network of microfinance institutions (MFIs) exist in these areas. The project is aimed at young people, especially women; smallholder farmers and microenterprises. Continue Reading »

A fund targeted at USD 50 million has been opened by Alitheia Capital, Goodwell Investments and JCS Investments Limited in Lagos, Nigeria.  The fund will invest in and develop microfinance banks and organizations in Nigeria and Ghana. These three investment organizations will pool funds to provide commercial long-term capital which will support the start up and growth of microfinance institutions (MFIs). In addition, support to management teams and access to global microfinance expertise would be provided. The goal of the fund is to increase the outreach of MFIs and provide investors with a market rate of return. Continue Reading »

K-Rep Bank, a commercial bank that directly targets low income clients in Kenya, received a Kshs 174.8 million (USD 2.2 million) investment from the African Development Bank (AfDB) during May 2009. This financial support will also include technical assistance related to capacity building. K-Rep Bank provides various banking services and specializes in loans to low income, small and micro entrepreneurs. K-rep plans to create 10,000 new jobs by 2011 of which 55 percent would involve women entrepreneurs. Continue Reading »

In March 2009, responsAbility Global Microfinance Fund (rAGMF) reported four loans to the Consultative Group to Assist the Poor (CGAP) Microfinance Dealbook, a monthly report on microfinance capital market transactions. responsAbility is a Switzerland-based asset management firm that connects social investors with microfinance institutions (MFIs). Three loans were made to Peruvian MFIs Caritas del Peru (USD 500,000), MiBanco (USD 7.5 million) and to Proempresa (USD 1 million (in local currency)). A Loan was also granted to FIELCO of Paraguay of USD 1.5 million. These loans were made through responsAbility’s Global Microfinance Fund (rAGMF) which invests either directly in MFIs or indirectly through microfinance investment vehicles. Continue Reading »

During March and April MicroVentures, a microfinance investment vehicle, reported four loans to the Consultative Group to Assist the Poor (CGAP) Microfinance Dealbook, a monthly report on microfinance capital market transactions. Two equity investments were made to Indian microfinance institutions (MFIs) Sahayata Microfinance Ltd and Equitas Microfinance Ltd in March of USD 3.7 million and USD 4.4 million respectively. MicroVentures also granted loans to Caritas del Peru of USD 1 million and to Fondesurco of Peru of USD 750,000 during April. Continue Reading »

The International Finance Corporation (IFC), a member of the World Bank Group, provides investments and advisory services to build the private sector in developing countries.  It made the following microfinance investment deals in March and April 2009 of USD 51m and EURO 7m. Continue Reading »

The San Diego Microfinance Summit

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

Cost: $25 for general public and $10 for students; includes lunch 

Summary of Event: The conference will highlight the local and international work of San Diego’s microfinance organizations.  Lunch, catered by local microfinance clients, will follow the sessions. There will also be marketplace where microfinance clients will sell their wares and services, including artisans, musicians and bakers. Continue Reading »

The International Finance Corporation (IFC), a member of the World Bank, is one of the top five investors in Latin America and the Caribbean. The IFC contributed 11 percent of total LAC funding according to a 2008 survey. Development Finance Investors (DFIs) such as the IFC are government owned bilateral or multilateral development agencies with investments in microfinance. The IFC makes direct and indirect investments and also has an advisory arm. Direct investments may establish microfinance institutions (MFIs) and indirect investments are in microfinance investment vehicles such as private investment funds. In their advisory role the IFC provides training and technical support, partners with organizations such as the World Bank and the Consultative Group to the Poor (CGAP) and supports innovative technology. Continue Reading »

The Multilateral Investment Fund (MIF), administered by the Inter-American Development Bank (IDB) is one of the largest public sector Development Finance Institutions (DFI) in the Americas. DFIs are government owned bilateral or multilateral development agencies whose investments include microfinance deals. DFIs make either direct or indirect investments. Direct investments are in microfinance institutions (MFIs) and indirect investments are in microfinance investment vehicles such as private investment funds. The majority of investments are direct and in hard currency (USD). Continue Reading »

PlaNet Finance and the Freie Universität Berlin invite university and master students to submit Research Proposals for the ‘University Meets Microfinance’ (UMM) project. Research priorities for 2009 will include rural microfinance, microinsurance, mobile banking and ICT, and money transfers. Scholarships will be granted to undertake field research in developing and transition countries. UMM will be co-financed by the European Commission who will provide 3 year support within their ‘Education to Development‘ program. Continue Reading »

Microfinance, Economic Development and Global Health, presented by Princeton Microfinance Organization 1st May 2009

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The International Finance Corporation (IFC) announced that it will be investing up to USD 15 million in Azerbaijan’s AccessBank. AccessBank provides financial services to Micro and Small Enterprises (MSE) within Azerbaijan. Its mission is to be the leading provider of credit to MSE’s. The IFC, a member of the World Bank, will provide this long term loan to reach underserved regions of the country and provide micro and small businesses with access to credit. Continue Reading »

Financiera Independencia, a Mexican microfinance bank, reported their first quarter 2009 Net Income of 117.2 million pesos (USD 8.9 million). This was a decrease of 40 percent on a year-to-year basis. Net Operating Revenue of 612.8 million pesos (USD 46.6 million) did not fall significantly over the same period (0.2 percent), however Interest Expense increased by 150 percent or 57 million pesos (USD 4.3 million) and the Provision for Loan Losses increased by 61 percent or 76.8 million pesos (USD 5.8 million). Continue Reading »

Banking & Payment Technologies West Africa, Lagos, Nigeria, 4-6 May 2009

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Sam Daley-Harris, Microcredit Summit Campaign founder is interviewed by the Economic Times of India about how useful microcredit is and his reaction to its criticisms. The full interview can be found here. Continue Reading »

The National Microfinance Bank (NMB) of Tanzania is set to expand its number of branches in 2009. It announced a plan to add between 10 and 15 new branches and nearly double its number of ATM machines. Currently it owns 172 ATMs and has 128 branches. NMB is Tanzania’s largest bank in terms of number of branches and customer deposits. This is expected to cost nearly 10 billion Tanzanian Shillings (TZS) or USD 7.5 million. Continue Reading »

Unitus, Inc., an international non-profit organization, and Yehu Microfinance Trust of Kenya announced that they have formed a new partnership. Yehu currently serves people in rural coastal Kenya and Unitus already works with two other MFIs in East Africa. Continue Reading »