MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $3m in Local Currency to Asian Credit Fund of Kazakhstan, Oxus Tajikistan for Microfinance

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 Asian Credit Fund, an MFI controlled by US-based NGO Mercy Corps, borrowed the equivalent of

MICROCAPITAL BRIEF: Green for Growth Fund Nets $19m in Equity from BMZ to Boost Funding of Energy Efficiency, Renewable Energy Projects via Microfinance Institutions, Banks

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

MICROCAPITAL BRIEF: Fusion Microfinance of India Raises $12m in Equity from Creation Investments, Oikocredit, Gawa Capital

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

MICROCAPITAL BRIEF: MFIs in Bolivia, Vietnam Borrow $11.5m from C-Quadrat Dual Return Vision Microfinance Fund

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

MICROCAPITAL BRIEF: Fundacion BBVA MicroFinanzas Continues Buying Equity in Microfinance Institution Financiera Confianza of Peru with responsAbility Transaction

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

MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $1.2m to DR Congo’s Hekima; Burkina Faso’s SOFIPE, ACFIME

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

MICROCAPITAL BRIEF: Microfinance Organization Crystal of Georgia, VisionFund’s Monte Credit of Montenegro Borrow $3.6m from Grameen Credit Agricole Foundation

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

MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $3.6m in Local Currency to Microfinance Institutions in Indonesia

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

MICROCAPITAL BRIEF: Untu Capital of Zimbabwe Selling $1m in Bonds in Increments of $50 via Mobile Money to Support Microfinance, SME Lending

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

MICROCAPITAL BRIEF: responsAbility Agriculture I Fund Takes Equity Stake in Indian Value-chain Lender Samunnati

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

MICROCAPITAL BRIEF: Netherlands’ FMO Arranges $68m Syndicated Loan for Lebanon’s LGB Bank, with Participation from OFID, OeEB

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

MICROCAPITAL BRIEF: Netherlands’ FMO Buys $50m Bond from Turkey’s Sekerbank to Support 4k Rural SMEs

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

MICROCAPITAL BRIEF: C-Quadrat Dual Return Vision Microfinance Funds Invest in Ecuador, 13 Other Countries

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

MICROCAPITAL BRIEF: Equator Raises $62m for ShoreCap III from AfDB, CDC, EIB, KfW, OeEB to Invest in Financial Inclusion in Africa

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

MICROCAPITAL BRIEF: Netherlands’ FMO Syndicates $220m Loan for Togo-based Ecobank, with Participation from BlueOrchard Microfinance Fund, Symbiotics, Oikocredit, DEG, Proparco, OeEB, BIO

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