Category: Deals

MICROCAPITAL BRIEF: Woori Bank of South Korea to Acquire Cambodian Microfinance Institution (MFI) Malis Finance for $5m

Woori Bank, a South Korea-based bank, reportedly has agreed to buy Malis Finance, a Cambodian microfinance institution (MFI), for KRW 5 billion (USD 4.95 million) with the aim of furthering its goal of international expansion. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $500k in Equity to Acquire 8% of Kenyan Microinsurer Agriculture and Risk Enterprise (ACRE), Loans $334k to Ecumenical Church Loan Fund (ECLOF) for Technical Assistance

The Grameen Credit Agricole Microfinance Foundation (GCAMF), which is based in Luxembourg and invests in “social businesses,” recently informed MicroCapital that it has made an investment of USD 500,000 in Nairobi-based Agriculture and Risk Enterprise Limited (ACRE), a microinsurance provider that aims to launch products in East and West Africa in exchange for an 8-percent stake in the company. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $3m to Indonesia’s Mitra Bisnis Keluarga Ventura (MBK), $1m to Azerbaijan’s Finance for Development (FinDev)

The Luxembourg-based Grameen Credit Agricole Microfinance Foundation (GCAMF), which provides financial services to “social businesses,” recently informed MicroCapital that it has provided a three-year local-currency loan equivalent in value to EUR 2.1 million (USD 2.9 million) to Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) located in Indonesia. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $25m to Bank of Georgia for On-lending to Micro, Small Enterprises (MSEs)

Bank of Georgia, a Tbilisi-based commercial bank that offers corporate and retail banking, wealth management, brokerage and insurance services in Georgia, Ukraine and Belarus, recently borrowed EUR 18.5 million (USD 25.2 million) under a senior loan agreement from the European Fund for Southeast Europe (EFSE), a Luxembourg-based, government-backed microfinance investment vehicle. Continue reading

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MICROCAPITAL BRIEF: Citigroup, Overseas Private Investment Corporation (OPIC) Jointly Loan $10m to Microfinance Institution (MFI) ACBA Credit Agricole Bank of Armenia

Citigroup, a financial services corporation based in the US city of New York, and Overseas Private Investment Corporation (OPIC), a government-backed development finance institution based in Washington DC, recently announced that they will partner to fund two jointly funded loans with a total value of USD 10 million for ACBA Credit Agricole Bank (formerly known as the Agricultural Cooperative Bank of Armenia), a Yerevan-based microfinance institution (MFI) that specializes in the financing of the agriculture sector of Armenia. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $200k to Mec Fadec of Senegal, $680k to TIAVO of Madagascar

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization founded by French Bank Credit Agricole and Bangladeshi NGO Grameen Trust, recently informed MicroCapital that it has disbursed the second half of a loan in local currency equal to EUR 152,000 (USD 207,000) to Mec Fadec, a Senegalese microfinance institution (MFI), and a loan of EUR 500,000 (USD 681,000) to Tahiry Ifamonjena Amin’ny Vola (TIAVO), a Madagascar-based MFI. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Increases Syndicated Loan to National Development Bank of Sri Lanka from $125m to $200m for On-Lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has increased the size of the syndicated loan that it provided in March 2014 to the National Development Bank (NDB), a financial services company owned by the government of Sri Lanka, from USD 125 million to USD 200 million. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Partners with Chadian Ministry of Planning and International Cooperation to Establish Foundation for Leasing Services in Chad

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently signed a cooperation agreement with the Chadian Ministry of Planning and International Cooperation, the governmental body charged with organizing and implementing development projects in the country, to support the development of leasing options for small and medium-sized enterprises (SMEs) in Chad. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), International Cooperation and Development Fund of Taiwan (TaiwanICDF) Loan Tunisie Leasing $14m to Fund Micro-, Small, Medium-sized Enterprises (MSMEs) in Tunisia

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, and the International Cooperation and Development Fund of Taiwan (TaiwanICDF), the principal body that oversees Taiwan’s overseas development programs, have jointly disbursed a loan of EUR 10 million (USD 13.7 million) to Tunisie Leasing, a financial institution that offers leasing services in Tunisia and Algeria. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan Mongolian XacBank $5m for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs); $10m for Sustainable Energy

The London-based European Bank for Reconstruction and Development (EBRD) is considering disbursing a local-currency loan equivalent to USD 5 million to XacBank, a lender to micro-, small and medium-sized businesses in Mongolia. Continue reading

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MICROCAPITAL BRIEF: Homeless International Purchases T24 MCB Banking Software from Temenos

Homeless International, a UK-based nonprofit housing consultancy and finance agency that focuses on reducing urban poverty in Africa and Asia, has purchased T24 MCB, a cloud-based core banking software platform that was developed for the microfinance and community banking (MCB) segment by Temenos Group AG, a software company based in Switzerland. Continue reading

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MICROCAPITAL BRIEF: FINCA International Raises $30m in Debt in Nine Local Currencies to Support Financial Inclusion of Microentrepreneuers

The Foundation for International Community Assistance (FINCA International), a US-based nonprofit microfinance network, has announced that it has raised debt funding equivalent to USD 30 million in nine local currencies to support the financial inclusion of low-income microentrepreneurs through its Local Currency Microfinance Note III [1]. Continue reading

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MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $9.4m to Microfinance Institutions (MFIs) in Armenia, India, Kazakhstan, Kyrgyzstan, Mongolia, Peru, Sri Lanka, Tanzania

Absolute Portfolio Management (APM), an arm of Austria-based asset group C-Quadrat, recently informed MicroCapital that it has distributed credits worth approximately USD 9.4 million through its two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Armenia, India, Kazakhstan, Kyrgyzstan, Mongolia, Peru, Sri Lanka and Tanzania. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $12m to Araratbank of Armenia to Support Micro-, Small Enterprises (MSEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, has announced that it is loaning USD 12 million to Araratbank Open Joint Stock Corporation (OJSC), an Armenian bank that provides financial services to micro- and small enterprises (MSEs) [1]. Continue reading

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MICROCAPITAL BRIEF: ANZ Royal Bank, Microfinance Institution (MFI) Hattha Kaksekar Limited (HKL) to Share Branches, ATMs

ANZ Royal Bank (ANZ), a joint venture between the Australia and New Zealand Banking Group Limited (ANZ Group) and the Cambodian Royal Group of Companies, and Hattha Kaksekar Limited (HKL), a Cambodian microfinance institution (MFI), reportedly have entered into a partnership to offer a wider range of financial service products to the clients of the two institutions. Continue reading

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MICROCAPITAL BRIEF: European Investment Fund (EIF) to Guarantee $9m in Microloans Disbursed by Romania’s Libra Internet Bank Under Progress Microfinance Facility

The European Investment Fund (EIF), a provider of finance to lenders to micro-, small and medium-sized enterprises (MSMEs), and Libra Internet Bank, a Romania-based bank that conducts the majority of its business online, have signed a guarantee agreement to help Libra lend RON 30 million (USD 9.26 million) to 400 microbusinesses in Romania. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $2m to Cambodian Angkor Mikroheranhvatho Kampuchea; Invests $546k in Equity in Palestinian Arab Center for Agricultural Development

The Luxembourg-based Grameen Credit Agricole Microfinance Foundation (GCAMF), which provides financial services to “social businesses,” recently informed MicroCapital that it has provided a three-year loan of EUR 1.5 million (USD 2.05 million) to Angkor Mikroheranhvatho Kampuchea Company Limited (AMK), a microfinance institution located in Cambodia. Continue reading

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