Financial Information Networks and Operation (FINO), an Indian for-profit technology provider to microbanks and other financial service providers, reportedly has purchased the Indian mobile payment services business of Nokia, a Finnish handset provider, for an undisclosed amount of cash. Continue Reading »
The European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, has agreed to disburse a loan to Partner Microcredit Foundation (Partner MCF), a microcredit organization based in Bosnia and Herzegovina, in the amount of EUR 8 million (USD 9.8 million). Continue Reading »
The International Finance Corporation (IFC), a member of the World Bank Group, and European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg, have agreed to disburse loans totaling the equivalence USD 48.9 million to Fibabanka AS, a Turkish investment bank. Continue Reading »
Banque Nationale de Paris (BNP) Paribas Russia, the Russian arm of French financial services provider BNP Paribas, and the microfinance department of Russia’s Ministry of Finance have reportedly awarded a two-year, USD 2 million loan to FINCA Universal Credit Organization CJSC, a subsidiary of US-based nonprofit microfinance institution (MFI) FINCA International. Continue Reading »
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to provide a loan of USD 50 million to Jiangsu Financial Leasing, which was founded in 1985 and is controlled by the Chinese government. Continue Reading »
The European Union (EU) and the European Bank for Reconstruction and Development (EBRD), a London-based multilateral investor, recently partnered to launch a EUR 3.8 million (USD 4.7 million) project in Mongolia geared towards small and medium-sized enterprises (SMEs). Continue Reading »
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has opened credit lines totaling USD 100 million to 400 small and medium-sized enterprises (SMEs) that sell products to Mexican supermarket chain Comercial Shops Mexicana (TCM). Continue Reading »
Safaricom, a Kenyan mobile network operator that runs the mobile money service M-Pesa, recently signed a deal with Paynet Group, an information technology company operating in Kenya and Zimbabwe, allowing customers of the 28 Kenyan institutions on the group’s PesaPoint automated teller machine (ATM) network to move funds via mobile phone. Continue Reading »
Incofin, a Belgian for-profit microfinance investment manager, has agreed to disburse loans of USD 3 million to FINCA Kyrgyzstan, a branch of US-based microfinance nonprofit FINCA International, and USD 2 million to Bai Tushum Partners, a microfinance institution (MFI) based in Kyrgyzstan. Continue Reading »
Union Banka, a financial institution in Bosnia and Herzegovina, recently approved a BAM 1.5 million (USD 958,000) loan exposure to the Microcredit Foundation Prizma, a microfinance institution (MFI) in the same country. Continue Reading »
Swarna Pragati Housing Microfinance Limited, an Indian housing finance company, and Accion, a US-based nonprofit, reportedly have invested USD 4.5 million in Saija Finance, an Indian microfinance institution (MFI).
Grameen Financial Services Private Limited (Grameen Koota), an Indian microfinance institution (MFI), recently raised INR 25 crore (USD 5 million) in debt funding through the issue of secured, redeemable, non-convertible debentures (NCDs). Continue Reading »
The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued its first loan in Burkina Faso to Groupe d’Accompagnement à l’Investissement et à l’Epargne (GRAINE), a microfinance institution (MFI) that serves 40,000 women primarily in remote areas. Continue Reading »
International Finance Corporation (IFC), the private-investment arm of the World Bank Group, is making a CNY 10 million (USD 1.6 million) equity investment in Urumqi Tianrong Microcredit Company, a joint venture of Mongolia-based TenGer Financial Group (TFG), IFC and three unidentified investors from China and Mongolia. Continue Reading »
ResponsAbility Social Investments, a Swiss investment company, recently completed three investment deals with microfinance institutions (MFIs) in Ecuador, Paraguay and Peru. Continue Reading »
ResponsAbility Social Investments, a Swiss microfinance investment manager, has reached a total of three investment deals with microfinance institution (MFI) ACLEDA Laos Bank, an affiliate of Cambodian public limited company ACLEDA (formerly Associaton of Cambodian Local Economic Development Agencies) Bank and Middle East Micro Credit Company (MEMCC), a for-profit development finance institution in Jordan. Continue Reading »
The Green for Growth Fund (GGF), a public-private partnership domiciled in Luxembourg that supports energy-efficient projects, has disbursed a loan of EUR 1.5 million (USD 1.9 million) to Partner Microcredit Foundation (Partner MCF), a microcredit organization based in Bosnia and Herzegovina, as well as a loan of EUR 23 million (USD 28.6 million) to Komercijalna Banka Beograd, a bank based in Serbia. Continue Reading »
Oesterreichische Entwicklungsbank AG (OeEB), Austria’s official development bank, recently pledged an investment of EUR 15.0 million (USD 18.75 million) to the European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg. Continue Reading »
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