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NEWS WIRE: Pakistan: Telenor Pakistan Acquires 51 Percent of Tameer Microfinance Bank
MICROFINANCE EVENT: European Microfinance Platform to host Annual European Microfinance Week 2008 in Luxembourg
MICROFINANCE EVENT
NOVEMBER 12 - 14 2008, ABBAYE NEUMÜNSTER, LUXEMBOURG
The European Microfinance Platform (eMFP), a microfinance information exchange network for European financial institutions, government agencies, NGOs, consultancy firms, researchers and universities with interests in developing countries, will host its third annual Microfinance Week. The theme this year is “Frontier Issues in Microfinance - Opportunities and Challenges for European Actors” and will focus on working group sessions for participants on Rural Outreach, Social Performance and MFI Networks, among other matters. Continue Reading »
NEWS WIRE: India: What MFIs can teach Wall Street
Source: The Times of India.
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PRESS RELEASE: FMO Supports First Belarusian Bank for Micro and Small Businesses
MICROCAPITAL STORY: Indian Technology Company, Comat, Raises $12.5m from Omiydar Network and Unitus Equity Fund of the United States
Comat, a technology company providing services to rural India, recently raised INR 60 crore (USD 12.5m) from the Omidyar Network and the Unitus Equity Fund (UEF). According to a Business Standard article, the new investment will allow “Comat to expand to new States, accelerate service delivery for training and financial services [and] strengthen management bandwidth.” Continue Reading »
NEWS WIRE: Fund Tap Going Dry for Microfinanciers
Source: Daily News & Analysis.
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NEWS WIRE: India: India Post to disburse micro-credit in 8 states and the North-East
NEWS WIRE: India: Global Credit Crunch Affects Microfinancing
Source: Sify Technology.
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PRESS RELEASE: Azerbaijan Named Top Reformer in Doing Business 2009
Source: Doing Business.
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MICROCAPITAL STORY: Microfinance Information Exchange (MIX) Releases Reports With Central American Microfinance Network REDCAMIF and Azerbaijan Micro-finance Association
The Microfinance Information Exchange (MIX) has released two benchmarking reports in conjunction with local partners - one with REDCAMIF covering Central America and one with the Azerbaijan Micro-finance Association (AMFA) covering that country. Continue Reading »
NEWS WIRE: Microcredit to Fight Poverty in Turkey
Source: Turkish Daily News.
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MICROCAPITAL STORY: Micro Finance Bank of Azerbaijan (MFBA) Renamed Access Bank
According to the Azeri Press Association, the Micro Finance Bank of Azerbaijan (MFBA) has been officially renamed Access Bank. The name stems from Access Holding, which controls a 16.53 percent stake in the microfinance institution (MFI). The news comes after MFBA recently attracted increased funding from the IFC and British Petroleum (BP). Continue Reading »
MICROCAPITAL STORY: HSBC Turkey Allocates USD 5 million to Microfinance Loans in Turkey
HSBC Turkey, the Turkish arm of the global bank HSBC, announced the allocation of USD 5 million toward microcredit loans until 2010 in Turkey. According to Piraye Antika, the CEO of HSBC Turkey, the microcredit loans will be evenly split between urban areas, rural areas and young university-graduate entrepreneurs. In disbursing the loans, HSBC will work with three non-government organizations: the Turkish Waste Prevention Foundation, the Community Volunteers, and the Female Labor Assessment Foundation. Continue Reading »
MICROCAPITAL STORY: International Finance Corporation (IFC) Loans the Kyrgyz Investment and Credit Bank (KCIB) USD 5 million to Expand Microfinance Operations and Provides Mortgage Lending Advisory Services to Microfinance Institution Bai Tushum in the Kyrgyz Republic
The International Finance Corporation (IFC), a member of the World Bank Group, announced a pair of microfinance and mortgage initiatives in the Krygyz Republic. On the microfinance side, IFC is extending a USD 5 million loan to the Kyrgyz Investment and Credit Bank (KICB), a full-service commercial bank in the Krygyz Republic. The proceeds will be directed toward expanding lending to micro, small and medium businesses in remote areas of the Krygyz Republic, as well as supporting agricultural projects. Continue Reading »
MICROCAPITAL STORY: Fitch Ratings Assigns the Micro Finance Bank of Azerbaijan (MFBA) a Grade of BB+
Fitch Ratings has assigned the Micro Finance Bank of Azerbaijan (MFBA) a long-term issue default rating of BB+, a short-term issue default rating of B and a long-term outlook of ‘stable.’ This rating qualifies MFBA as investment grade and makes it the highest rated private bank in Azerbaijan. Continue Reading »
MICROCAPITAL STORY: European Fund for Southeast Europe (EFSE) Loans $15m to Bosnian-Herzegovinian MFI Partner Microcredit Foundation
The European Fund for Southeast Europe (EFSE), an investment firm that seeks returns from a portfolio of social enterprises, has made a USD 15 million loan to Bosnian-Herzegovinian nonprofit microlender Partner Microcredit Foundation. The loan will be used by Partner to expand its on-lending activities to small and micro enterprises. The loan’s term and rate were not disclosed. Continue Reading »
PRESS RELEASE: European Fund for Southeast Europe (EFSE) Provides $15m Loan to Partner Microcredit Foundation of Bosnia and Herzegovinia
MICROCAPITAL STORY: Mongolian Microfinance Institution XacBank Launches Cellphone Banking Service with Support from CGAP
XacBank, Mongolia’s largest microfinance institution, and the Consultative Group to Assist the Poor (CGAP), a microfinance think tank housed at the World Bank, announced the launch of a new mobile phone banking service with a target audience of 300,000. CGAP is providing XacBank with financial and technical support. Continue Reading »