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Thursday, December 4, 2008

PRESS RELEASE: Norwegian Microfinance Initiative Establishes NMI Global and Frontier Funds

Source: MarketWatch.
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Tuesday, December 2, 2008

MICROCAPITAL STORY: International Finance Corporation (IFC) Provides $2.1m to Corporacion Mundial de la Mujer de Medellin (WWB Medellin)

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 »



Tuesday, December 2, 2008

PRESS RELEASE: Second SNS Institutional Microfinance Fund Collects more than $171m Despite Financial Crisis

Source: SNS Asset Management.
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Monday, December 1, 2008

MICROCAPITAL STORY: MicroCred Receives Capital Increase from Developing World Markets and AXA Belgium

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 »



Tuesday, November 25, 2008

PRESS RELEASE: Advans and Horus Sign Euro 2 million Grant with European Investment Bank

Source: Advans Group.
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Tuesday, November 25, 2008

PRESS RELEASE: Lok Capital Capital Invests in Jagannatha Financial Services Ltd.

Source: Lok Capital.
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Tuesday, November 25, 2008

PRESS RELEASE: MasterCard Foundation and BRAC Announce 19.6m Program to Expand Financial Services

Source: Mastercard Foundation.
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Monday, November 24, 2008

MICROCAPITAL STORY: Another GrameenPhone? Telenor Pakistan, a Subsidiary of Telenor, the Majority Owner of GrameenPhone, Acquires 51% Stake in Tameer Microfinance Bank Limited for $12.5m

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 »



Monday, November 24, 2008

NEWS WIRE: Pakistan: Telenor Pakistan Acquires 51 Percent of Tameer Microfinance Bank

Source: Pro Pakistani.

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Friday, November 21, 2008

MICROCAPITAL STORY: India’s Ujjivan Increases Equity With Investments By Unitus Equity Fund, Bellwether Microfinance Fund, Michael and Susan Dell Foundation, Sequoia Capital, Lok Capital, India Financial Inclusion Fund and SIDBI

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 »



Tuesday, November 18, 2008

NEWS WIRE: World Bank Provides $200m for Better Access to Rural Finance

Source: Nhan Dan.

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Tuesday, November 18, 2008

PRESS RELEASE: Global Partnerships Closes $20m Microfinance Fund

Source: Global Partnerships.
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Friday, November 14, 2008

NEWS WIRE: India: SKS Microfinance Raises USD 75m in Fourth Round

Source: VC Circle.
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Thursday, November 13, 2008

NEWS WIRE: Leading Indian MFI Cashpor Adopts ClassifEye Secure Mobile Transactions Solution

Source: Classifeye.
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Wednesday, November 12, 2008

MICROCAPITAL STORY: USAID and Netherlands-based Oikocredit Partner to Guarantee $36.2 million for Microfinance Over 10 Years

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 »



Wednesday, November 12, 2008

PRESS RELEASE: Barclays and UNICEF Announce £5m Partnership

Source: UNICEF.
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Tuesday, November 11, 2008

MICROCAPITAL STORY: First MicroFinanceBank Afghanistan Signs €4m Agreement with Germany’s Kreditanstalt für Wiederaufbau

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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Friday, November 7, 2008

MICROCAPITAL STORY: Australia’s Christian Super to Invest in Triodos Bank and JPMorgan Microfinance

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 »