Two microfinance institutions (MFIs) in Central Asia are among those that recently borrowed from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg. Both of the loans are denominated in local currency and have terms of three years. Neither MFI accepts deposits.
The Green for Growth Fund (GGF), which invests in reductions in pollution and energy usage in Eurasia and North Africa, recently accepted an investment of EUR 15 million (USD 19 million) from the German Federal Ministry for Economic Cooperation and Development, which is also known by its German acronym BMZ, to boost the fund’s investment in
Fusion Microfinance, a lender to groups of women in India, recently raised INR 800 million (USD 12.4 million) is unspecified portions from US-based Creation Investments, Netherlands-based Oikocredit and Spain-based Gawa Capital Partners. All three of the investors were already shareholders in the microlender. Fusion plans to use the cash to invest in
Two microfinance institutions (MFIs) – one in Bolivia and one in Vietnam – recently borrowed a total of USD 11.5 million from the Dual Return Vision Microfinance fund, an offering of C-Quadrat Asset Management, which is a unit of Austrian fund manager C-Quadrat. The identities of the MFIs and the amount each borrowed remain confidential. C-Quadrat Asset Management did tell MicroCapital that
Fundacion BBVA MicroFinanzas, which was launched by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) in 1998, recently added to its shareholding in Financiera Confianza, a Peruvian microfinance institution (MFI) by purchasing the stake held by Switzerland-based responsAbility Investments. Although the size and price of the holding, which responsAbility began building in 2008, remains confidential, responsAbility reports that it earned “over three
The Grameen Credit Agricole Foundation (GCAF), whose head office is in Luxembourg, recently informed MicroCapital that it has disbursed three-year loans to three microfinance institutions in Africa.
Hekima of the Democratic Republic of Congo (DRC) borrowed USD 530,000 from GCAF. As of 2015, Hekima reports to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 3.6 million, loans of USD 2.3 million outstanding to 10,000 borrowers, and deposits of 890,000 held for 12,000 clients. The MFI’s mission includes “contributing to the economic, social and spiritual lives” of DRC’s people.
The Société de Financement de la Petite Entreprise (SOFIPE) of Burkina Faso borrowed the local-currency equivalent of
The Grameen Credit Agricole Foundation (GCAF), whose head office is in Luxembourg, recently informed MicroCapital that it has disbursed three-year loans denominated in euros to two microfinance institutions. Crystal Microfinance Organization, a joint stock company in Georgia, borrowed the equivalent of
The Luxembourg-based Grameen Credit Agricole Foundation (GCAF) recently informed MicroCapital that it has disbursed three-year loans denominated in local-currency to two microfinance institutions in Indonesia. Koperasi Mitra Dhuafa (Komida), a cooperative providing savings, loans and training services to women, borrowed the equivalent of
Untu Capital, a microlender in Zimbabwe, is looking to raise up to USD 1 million to support its lending to micro-, small and medium-sized enterprises by selling “U-Gain” bonds in increments of USD 50. Individuals may buy the bonds on Zimbabwe’s Financial Securities Exchange (FINSEC) via EcoCash, the mobile money service of South Africa’s Econet Group. Although the bonds have a term of one year
Switzerland-based responsAbility Investments recently disbursed the first investment from its private equity fund responsAbility Agriculture I, acquiring a “significant” minority stake in Samunnati, a non-banking financial company in India that provides loans and advisory services to players in agricultural value chains. Although the price and size of the stake remain confidential, responsAbility Agriculture I generally places investments of
The UK-based European Bank for Reconstruction and Development (EBRD) recently announced it will extend up to EUR 5 million (USD 6 million) in credit to
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it will loan USD 30 million to Uzbekistan’s Joint Stock Commercial
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it will provide a loan of EUR 5 million (USD 5.9 million) to the Albanian
The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently arranged a syndicated loan in the amount of USD 67.5 million for the Beirut-based Lebanon and Gulf Bank (LGB Bank) to support small and medium-sized enterprises (SMEs) in Lebanon. The
The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently agreed to fund a private bond placement by Turkey’s Sekerbank in the amount of TRY 192 million
C-Quadrat Asset Management, a unit of Austrian fund manager C-Quadrat, disbursed the equivalent of USD 40 million during December to 15 microfinance institutions (MFIs) from its Dual Return Vision Microfinance funds. The MFIs, whose identities remain confidential, span 14 countries. One is a cooperative located in
Equator Capital Partners, a US-based manager of “impact” funds, recently announced the first close of its third ShoreCap fund, which will invest in African firms offering services such as microcredit, microinsurance, leasing, housing finance, and banking for small and medium-sized enterprises. Equator is seeking to raise a total of USD 150 million for ShoreCap III to invest over 10 years in about
The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently arranged a syndicated loan in the amount of USD 220 million for Togo-based Ecobank Transnational Incor