Category: Deals

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Acquires Minority Stake in Brazilian Insurer Austral Participações for $36m to Support Sectors such as Agriculture

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, recently announced that it has invested BRL 80 million (USD 36 million) to acquire a minority stake in the Brazilian firm Austral Participações, whose holdings include Austral Seguradora, an insurance company focusing on the oil, engineering and surety markets; and Austral Resseguradora (Austral Re), a reinsurance company. Continue reading

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MICROCAPITAL BRIEF: Dutch Development Bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) Loans $20m to Armenia’s Ameriabank

The Dutch development bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) recently agreed to loan USD 20 million to Ameriabank Closed Joint Stock Company (CJSC) (Ameriabank), a commercial bank in Armenia. Continue reading

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MICROCAPITAL BRIEF: Lanka Orix Leasing Company (LOLC) of Sri Lanka Pays $20m to Acquire 60% Stake in Thaneakea Phum (Cambodia) from Developing World Markets, TPC Employee Association

Thaneakea Phum (Cambodia) (TPC), a Cambodia-based microfinance institution (MFI), recently informed MicroCapital that Developing World Markets Asset Management (DWM), a US-based investment fund manager, has sold 55-percent equity stake in TPC to LOLC Micro Investments Limited (LOMI), a subsidiary of Sri-Lankan financial services group Lanka Orix Leasing Company (LOLC) [1]. Continue reading

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MICROCAPITAL BRIEF: Myanmar Investments International Announces Joint Venture with Microfinance Institution (MFI) Myanmar Finance

Myanmar Investments Limited (MIL), a subsidiary of British Virgin Islands-based investment company Myanmar Investments International Limited (MIIL) recently entered into a conditional joint venture agreement with Myanmar Finance Company Limited (MFC), a Myanmar-based microfinance institution (MFI), to create Myanmar Finance International Limited (MFIL), which will be based in Myanmar and provide microfinance services in the country. Continue reading

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MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Issues First Disbursements from $1.36b Micro, Small and Medium Enterprises Development Fund (MSMEDF) After 2 Years of Delay

President Goodwill Jonathan of Nigeria officially launched the Micro, Small and Medium Enterprises (MSME) Development Fund at the eighth MSME finance conference in Abuja, Nigeria, where he announced the provision of NGN 870 million (USD 5.36 million) from the NGN 220 billion (USD 1.36 billion) fund to four beneficiaries Continue reading

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MICROCAPITAL BRIEF: Incofin, Triodos Invest in Microfinance Institution (MFI) Arvand of Tajikistan

Belgium-based Incofin Investment Management (Incofin), a private company that manages funds investing in microfinance institutions (MFIs), and Netherlands-based Triodos Investment Management (Triodos), the subsidiary of Triodos Bank that manages funds in “energy and climate, emerging markets, arts and culture and sustainable real estate”[2], jointly acquired a 36-percent equity stake in Microcredit Deposit-Taking Organization Arvand (Arvand), an MFI that operates in and around Dushanbe, the capital of Tajikistan as well as in the country’s Sughd region. Continue reading

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MICROCAPITAL BRIEF: Japanese Sumitomo Mitsui Banking Corporation (SMBC) Announces Purchase of $110m Equity Stake in Cambodian Acleda Bank from International Finance Corporation (IFC)

Sumitomo Mitsui Banking Corporation (SMBC), a Japanese financial services company, reportedly announced plans to purchase a 12.25-percent equity stake consisting of approximately 27.6 million shares in Acleda Bank (Acleda), a Cambodian commercial bank, for a total cost of USD 110 million. Continue reading

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MICROCAPITAL BRIEF: World Bank Group to Provide Funding of $42m to Lao People’s Democratic Republic to Support Small and Medium-Sized Enterprises (SMEs), Hydropower and Mining Sectors

The World Bank Group (WBG), a group of five multilateral organizations that invest in developing countries, recently approved plans to disburse a total of USD 42 million to support the development of small and medium-sized enterprises (SMEs) and the hydropower and mining sectors of the Lao People’s Democratic Republic (Lao PDR). Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Announces $1m in Advisory Services to Airtel Zambia to Strengthen Financial Inclusion

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, recently announced that it will enter into an advisory services agreement with Airtel Zambia, a subsidiary of the Indian telecommunications company Bharti Airtel. Continue reading

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MICROCAPITAL BRIEF: United Nations’ International Labour Office, World Bank Group (WBG) to Provide Index Microinsurance in Developing Countries in Africa, Asia

The International Labour Office (ILO), an agency of the United Nations
that deals with labour standards, and the World Bank Group (WBG), a
group of five multilateral organizations that invest in developing
countries, reportedly have entered into a three-year partnership with
the aim of providing index microinsurance products in Africa and Asia
through ILO’s Microinsurance Innovation Facility (MIF), which provides grants to organizations to develop microinsurance products, and WBG’s Global Index Insurance Facility (GIIF), a trust fund that supports disaster and weather index insurance markets. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Lends $5m to DemirBank of Azerbaijan to Promote Residential, Business Energy-Efficiency Projects

The European Bank for Reconstruction and Development (EBRD), a UK-based development bank that operates in eastern Europe, central Asia and northern Africa, has loaned USD 5 million to DemirBank, a commercial bank in Azerbaijan that focuses on lending to small and medium-sized enterprises (SMEs), with the intention of promoting projects that reduce energy use in the country. Continue reading

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MICROCAPITAL BRIEF: Government of Canada, International Finance Corporation (IFC) Support Small, Medium-sized Agricultural Enterprises in Ukraine

The Department of Foreign Affairs, Trade and Development Canada (DFATD) recently informed MicroCapital that the government of Canada and the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, plan to work together to provide an unspecified level of financial support and technical advice to small and medium-sized agricultural enterprises in Ukraine. Continue reading

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MICROCAPITAL BRIEF: Rwanda’s Ministry of Finance and Economic Planning (MINECOFIN), Access to Finance Rwanda (AFR), Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW) Launch $4m Microfinance Challenge Fund to Support Microfinance Institutions (MFIs)

The Ministry of Finance and Economic Planning of Rwanda (MINECOFIN), the Rwandan government’s authority on finance; Access to Finance Rwanda (AFR), a Kigali-based investment company that promotes financial inclusion in Rwanda; and Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a German development bank, recently have launched the Microfinance Challenge Fund Rwanda (MCFR), which will deploy EUR 3 million (USD 3.98 million) as loans to support microfinance institutions (MFIs) in Rwanda. Continue reading

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MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $20m to Yapi Kredi Leasing of Turkey to Support Use of Energy-Efficient Equipment

The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources in Southeast Europe, has loaned EUR 15 million (USD 19.9 million) to Yapi Kredi Leasing, a Turkey-based subsidiary of Turkey’s Yapi Kredi Bank, with the aim of expanding Yapi Kredi’s “sustainable long-term energy efficient equipment financing.” Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan $150m in Jordan Including to Bank Al Etihad, Cairo Amman Bank for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering setting up a senior unsecured credit facility in the amount of USD 150 million for banks in Jordan for on-lending to micro-, small and medium-sized enterprises (MSMEs). Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan Morocco’s Banque Centrale Populaire (BCP), Affiliates $133m for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering disbursing a loan of up to EUR 100 million (USD 133 million) to Banque Centrale Populaire, a member of the Moroccan mutual banking group Groupe Banque Centrale Populaire (GBCP), as well as to 10 affiliated “regional popular banks”[1]. Continue reading

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