D.light, a privately-owned retailer of solar appliances based in the US city of San Francisco, recently raised USD 22.5 million in funding to expand its PayGo platform, which offers microloans to finance purchases of solar products.
The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Cathay United Bank, a Taiwan-based commercial bank, recently announced that they will each lend USD 25 million to Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to support small businesses in Vietnam.
The Islamic Corporation for the Development of the Private Sector (ICD), a development finance institution of the Saudi Arabia-based Islamic Development Bank (IsDB), and the Caisse des Dépôts et Consignations Deposit (CDC), a financial institution backed by the government of Gabon, recently announced that they have signed a memorandum of understanding for the creation of a private equity fund to support small and medium-sized enterprises (SMEs) in Gabon and elsewhere in Central Africa.
Two US-based nonprofit organizations, the Grameen Foundation and Freedom from Hunger, recently announced they will merge into a single organization, retaining the name of the Grameen Foundation.
Oikocredit, a cooperative “social investment” fund based in Amersfoort, the Netherlands, recently increased its equity stake in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), “more than doubling” its investment in the Bolivian microfinance bank.
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund focused on 16 Central Asian and Southeast European countries, in partnership with the Netherlands’ Ministry of Foreign Affairs and Rabo International Advisory Services (RIAS), a subsidiary of Netherlands-based Rabobank Group, recently announced that the EFSE Development Facility will “cover part of the costs of a multi-year capacity building plan” aimed at expanding Albania-based FED Invest’s ability to provide financial services to farmers and small and medium-sized enterprises (SMEs) in rural areas.
The European Investment Bank (EIB), the Luxembourg-based long-term lender of the European Union (EU), and the US-based multilateral World Bank Group (WBG) recently announced a joint initiative, Boost MENA, to support “first-time entrepreneurs”, particularly women and young people, in the Middle East and North Africa (MENA).
Verdant Capital, a corporate finance firm with offices in South Africa, Mauritius and Ghana, recently arranged debt financing totaling ZAR 450 million (USD 33 million) for Trustco Group, a Namibia-based financial services provider firm.
Agricultural Cooperative Development International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA), a US-based nonprofit that implements “sustainable international development” projects related to supporting entrepreneurs in developing nations, recently registered a new subsidiary, AV Ventures LLC, which is designed to build “impact” funds that invest in agricultural small and medium-sized enterprises (SMEs) in an effort to promote “more inclusive, responsible supply chains.”
The IKEA Foundation, an affiliate of the Sweden-founded IKEA group of furniture companies, recently announced a donation of EUR 5.3 million (USD 6 million) to Habitat for Humanity, a US-based nonprofit that aims to provide safe housing options for people in need.
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it has provided a “medium-term” credit facility of USD 10 million to Agrofértil, a company that provides credit, crop protection products, agricultural inputs and “agronomic services” to farmers and farmer cooperatives in Paraguay.
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it will provide a local-currency credit line equivalent to approximately USD 7 million for micro-, small and medium-sized enterprises (MSMEs) in Kyrgyzstan.
The European Union (EU) and the European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently launched the Enhanced Competitiveness of Tajik Agribusiness Programme (ECTAP), for which they are seeking to raise EUR 42 million (USD 46.5 million) to boost agricultural productivity in Tajikistan via local financial service providers.
Through its Goodwell Microfinance Development Company (MDC) III Fund, Goodwell Investments recently issued a convertible loan of undisclosed amount to Ghanaian microfinance institution (MFI) Innovative Microfinance Limited (IML), which provides credit, savings products, financial education, business development training and environmental advisory services to low-income individuals and microenterprises.
Intellegrow, an India-based subsidiary of Intellecap Group specializing in venture debt, and Symbiotics, a Switzerland-based firm investing in smaller companies, recently launched a small and medium-sized enterprise (SME) debt pool program, benefiting Indian entrepreneurs from “impact” sectors including, but not limited to, food and agriculture, healthcare, and waste management.
RBL Bank Limited, an institution formerly known as Ratnakar Bank Limited (RBL) that is headquartered in the Indian state of Maharashtra, recently announced its plan to buy a 9.99-percent stake in Utkarsh Micro Finance, a non-banking financial institution based in the Indian state of Uttar Pradesh.
The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Agence Française de Développement (AFD), the international development arm of the French government, recently launched the Middle East and North Africa (MENA) SME Risk Sharing Facility, through which the organizations will guarantee loans for small and medium-sized enterprises (SMEs), 20 percent of which are to be issued to enterprises owned and operated by women.
The Green for Growth Fund (GGF), a Luxembourg-based investment vehicle that supports energy-efficiency (EE) initiatives in Eurasia and North Africa, recently announced a senior loan in the amount of EUR 1 million (USD 1.1 million) for Agjencioni për Financim në Kosovë (AFK), a non-banking microfinance institution operating in Kosovo.