Source: MarketWatch.
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The International Finance Corporation (IFC), a member of the World Bank Group, will provide up to COP 4 billion, approximately USD 2.1 million, to Colombia’s Corporacion Mundial de la Mujer de Medellin (WWB-Medellin) in order to support the bank’s expansion.  This financing follows another loan of up to USD 2.1 million that IFC committed earlier this year to WWB Medellin. Continue Reading »

Source: SNS Asset Management.
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MicroCred, an investment company that creates companies and banks specialized in microfinance, approved a capital increase which includes investments from a new shareholder, Developing World Markets (DWM) and a founding shareholder, AXA Belgium. DWM will take a 22% stake in the company, while AXA Belgium will increase its shareholding to 25%. MicroCred’s total equity capital stood at USD 23.2 million at the end of November 2008. Continue Reading »

Source: Advans Group.
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Source: Lok Capital.
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Source: Mastercard Foundation.
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Telenor Pakistan, a subsidiary of Telenor, a Norwegian communications, IT, and media company, has acquired 51 percent of Tameer Microfinance Bank Limited (TMBL) for PKR 1 billion, approximately USD 12.5 million, sources say.  Established in 2001, Tameer Microfinance Bank is a USD 20.3 million commercial microfinance bank in Pakistan.  The transaction is subject to full regulatory approval including a no-objection certificate (NOC) issued by the State Bank of Pakistan.  This partnership with Telenor will extend the bank’s operation and network across the country, specifically in rural areas, to promote the microfinance business in the country. Continue Reading »

Source: Pro Pakistani.

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Ujjivan Financial Services, a Bangalore-based microfinance institution (MFI), has completed the fourth round of equity infusion by raising Rs 940 million (USD 18.7 million) making it the fourth highest capitalised MFI in India with total paid up capital and reserves standing at over Rs 1.08 billion (USD 21.5 million) The increase in capital was largely invested by existing shareholders including Unitus Equity Fund (UEF) managed by Elevar Equity L.L.C., Bellwether Microfinance Fund, Michael & Susan Dell Foundation, A.W. Holdings and individual investors including promoter & CEO Samit Ghosh. The five new investors in this private placement transaction will include: Sequoia Capital, Lok Capital, Unitus Equity Fund II, India Financial Inclusion Fund and SIDBI. Continue Reading »

Source: Nhan Dan.

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Source: Global Partnerships.
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Source: VC Circle.
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Source: Classifeye.
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Oikocredit, a Dutch cooperative investment fund, and the United States Agency for International Development (USAID) announced a partnership which will leverage USD 36.2 million in private financing to support microfinance. USAID will provide a 50 percent guarantee on loans made by Oikocredit for ten years, and this guarantee is intended to increase private-sector financing to microenterprises and small-scale farmers, according to a press release by USAID. USAID has guaranteed loans for Oikocredit in the past, beginning in 2003 but this is the largest guarantee to date. Oikocredit’s loans are channelled through a network of regional offices worldwide and managed by local professionals. Continue Reading »

Source: UNICEF.
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Under an agreement between the governments of Germany and Afghanistan, Germany’s Kreditanstalt für Wiederaufbau (KfW) signed an agreement with Afghanistan’s First MicroFinanceBank (FMFB-A).  Under the agreement, KfW will lend EUR 4 million to Afghanistan’s Finance Ministry, which will then lend the funds to FMFB-A in a 15 year long term credit facility in local currency.  Proceeds will be used to fund the growth of FMFB’s loan portfolio which was USD 19.8 million in loans to over 101,000 borrowers at the end of 2007.

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Christian Super, an Australian Christian-based superannuation (pension) fund, has announced that it will invest an undisclosed amount in two separate microfinance funds run by JP Morgan and Triodos Investment Management. The fund, worth AUS 450 million (US 304 million) is reportedly interested in investing in JP Morgan’s Microinvest II Fund and Triodos Investment Management’s Triodos-Doen, Hivos-Triodos Fund, and Triodos Fair Share Fund. Christian Super CEO Peter Murphy spoke to Australia’s Financial Standard saying that these investments present an excellent opportunity for the super fund as it will provide a good risk diversification tool. He also said that Christian Super has been interested in investing in microfinance for 12 months but that the microfinance market was lacking the sophistication level required for super funds. Continue Reading »