Category: Deals

MICROCAPITAL BRIEF: European Investment Fund Loans $2.53m to Vitas via European Progress Microfinance to Support Microenterprises in Romania

The European Investment Fund, a member of the European Investment Bank Group providing financing to small and medium-sized enterprises, recently loaned EUR 2 million (USD 2.53 million) to Vitas, a Romanian microfinance institution, through European Progress Microfinance, a microfinance investment vehicle supported by the EU’s European Commission and the European Investment Bank. Continue reading

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MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Invests $1.68m in Palestine’s Faten, in Azerbaijan’s Viator, in Bangladesh’s Grameen Danone

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has granted loans of EUR 739,000 (USD 937,000) to Faten, a microfinance institution based in the West Bank in Palestine; EUR 702,000 (USD 890,000) to Viator, an Azerbaijani microfinance organization; and a loan, which can be converted into equity, of EUR 240,000 (USD 304,000) to Grameen Danone Foods Limited, a social business in Bangladesh that sells food products containing nutrients that are generally lacking from the regional diet. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Lending $1.5m to Chamroeun Microfinance of Cambodia, Koperasi Mitra Dhuafa (Komida) of Indonesia, Tuba Rai Metin (TRM) of Timor-Leste

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs) and other social businesses, recently notified MicroCapital that it is disbursing local-currency loans totalling the equivalent of EUR 1.2 million (USD 1.5 million) to three MFIs in South-East Asia: Chamroeun Microfinance, a Cambodian MFI that offers savings, loans and microinsurance, will receive EUR 507,000 (USD 634,000) over a three-year period; Koperasi Mitra Dhuafa (Komida), an Indonesian MFI, will receive EUR 370,000 (USD 463,000) over a four-year period; and Tuba Rai Metin (TRM), a nonprofit MFI that serves women and small businesses in Timor-Leste, will receive EUR 299,000 (USD 374,000) over three years [1]. Continue reading

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MICROCAPITAL BRIEF: Incofin’s Rural Impulse Fund Loans $750k to Bimputh Finance of Sri Lanka for Microfinance

Belgium-based Incofin Investment Management (Incofin IM), a private company that manages funds investing in microfinance institutions (MFIs) and directly invests in companies in developing countries, recently disbursed a loan of USD 750,000, via its Rural Impulse Fund (RIF I), to Bimputh Finance, a Sri Lankan non-banking finance company. Continue reading

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MICROCAPITAL BRIEF: India’s PNB Housing Finance Borrows $50m from International Finance Corporation (IFC) for Mortgages for Low-Income Families

PNB Housing Finance Limited (“PNB Housing”), a subsidiary of the India-based, government-controlled Punjab National Bank (PNB), recently accepted a loan of USD 50 million from the International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group. Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues $8.7m in Bonds to India’s Satin, $6.8m to Cambodia’s Prasac, $2.7m to MicroCred China

Symbiotics Group, a Swiss for-profit provider of microfinance-related and other investment services, recently issued impact bonds in the amount of USD 8.75 million to Satin, a microfinance institution based in Delhi, India; USD 6.78 million to Prasac, a  microfinance  institution offering financial services to people with low incomes in Cambodia; and USD 2.75 million to MicroCred China, a unit of France-based MicroCred Group. Continue reading

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MICROCAPITAL BRIEF: BIO, Cordaid, Incofin, KfW Commit $25m to Launch Wholesale Fund for DRC Under Nonprofit Fonds pour l’inclusion financière en République Démocratique Congo (FPM)

The Belgian Investment Company for Developing Countries (BIO), which is owned by the government of Belgium and seeks to support the sustainable development of the private sector; the Catholic Organisation for Relief and Development Aid (Cordaid), a Netherlands-based NGO; Incofin Investment Management (Incofin), a private Belgian company that manages funds investing in microfinance institutions (MFIs) in developing countries; and Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a state-owned development bank in Germany, jointly have offered a “capital contribution” of USD 25.1 million for Fonds pour l’inclusion financière en République Démocratique Congo (FPM), a nonprofit in the Democratic Republic of the Congo (DRC). Continue reading

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MICROCAPITAL BRIEF: Accion Acquires 10% Stake in Peruvian Microfinance Institution (MFI) Credinka from Diviso Grupo Financiero

Accion, a US-based nonprofit organization, recently announced the acquisition of a 10-percent stake in Credinka, a microfinance institution (MFI) based in the Peruvian city of Cusco, from Diviso Grupo Financiero, a financial group that has been listed on the Lima Stock Exchange since 2007. Continue reading

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MICROCAPITAL BRIEF: African Development Bank Group (AfDB) Approves $5m Line Of Credit for AB Microfinance Bank Nigeria

AB Microfinance Bank Nigeria (ABN), a microfinance institution (MFI) offering financial services to micro-, small and medium-sized enterprises (MSMEs), recently acquired access to a Line of Credit (LOC) in the amount of USD 5 million, equivalent in NGN, from the African Development Bank (AfDB), a multilateral institution providing loans and grants to governments and private companies. Continue reading

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MICROCAPITAL BRIEF: Canadian Government Donates $309m to African Development Fund (ADF)

The Canadian Minister of International Development, Christian Paradis, recently announced that the Canadian government will provide CAD 309 million (USD 279 million) to the African Development Fund (ADF), a fund that provides loans and grants to its 40 African member countries, to support the 13th replenishment of ADF’S budget funds. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) May Loan $38m to Raiffeisen Leasing Romania for Micro-, Small, Medium-sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering disbursing a senior, local-currency loan in an amount equivalent to EUR 30 million (USD 38 million) to Raiffeisen Leasing Romania, a subsidiary of Austria-based Raiffeisen Zentralbank Österreich AG (RZB). Continue reading

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MICROCAPITAL BRIEF: European Investment Bank, Tunisian-Kuwaiti Bank, Tunis Entrepreneurship Network Plan to Loan $52m to Tunisian Micro-, Small, Medium-sized Enterprises (MSMEs)

The European Investment Bank (EIB), the Luxembourg-based long-term lending bank of the European Union (EU); the Banque Tuniso-Koweitienne [Tunisian-Kuwaiti Bank] (BTK), a financial institution founded by the governments of Tunisia and Kuwait; and the Tunis Entrepreneurship Network (TEN), an association that assists entrepreneurs and small businesses in Tunisia, reportedly have announced a draft agreement to finance micro-, small and medium-sized enterprises (MSMEs) in Tunisia. Continue reading

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MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $2m to Microinvest of Moldova for On-Lending to Micro-, Small Enterprises (MSEs)

The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, has disbursed a senior loan of EUR 2 million (USD  2.6 million) to Microinvest, a microfinance institution (MFI) in Moldova that was founded by Soros Foundation – Moldova, an affiliate of the US-based Open Society Foundations. Continue reading

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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: Asociación de Bancos del Perú (ASBANC) Partners with Ericsson to Implement Mobile Money System

The Asociación de Bancos del Perú (ASBANC), an association of 23 financial institutions in the country, has announced a partnership with Ericsson, a Sweden-based telecommunications company, with the aim of implementing a mobile money platform in Peru called Mobile Money. Continue reading

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