Category: Eastern Europe and Central Asia

MICROCAPITAL BRIEF: FMO Disburses $15m in Local Currency to FINCA Bank Kyrgyzstan for On-lending to Micro-, Small, Medium-sized Enterprises (MSMEs), Primarily in Rural Areas 

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership that aims to promote growth in developing economies, recently announced that it will disburse a syndicated loan in local currency equivalent to USD 15 million to FINCA Bank Kyrgyzstan, a subsidiary of the US-based nonprofit microfinance network Foundation for International Community Assistance (FINCA) International.

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MICROCAPITAL BRIEF: India’s Ujjivan Financial Services Raises $7.85m from  Mutual Funds for On-Lending To Micro-, Small, Medium-Sized Enterprises (MSMEs)

 Ujjivan Financial Services Private Limited, a microfinance institution (MFI) based in Bangalore, India, recently announced that it has raised INR 500 million (approximately USD 7.85 million) from United Trust of India (UTI), a mutual fund company based in Mumbai, India, through the issuance of secured, non-convertible debentures (NCDs).

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $25m to Azerbaijan’s AccessBank for Micro-, Small, Medium-Sized Enterprises

The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, recently announced that it will provide a subordinated loan of USD 25 million to AccessBank, a microfinance bank in Azerbaijan that is associated with Germany’s Access Microfinance Holding AG (AccessHolding), to enable it to serve more micro-, small and medium-sized enterprises (MSMEs). Continue reading

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MICROCAPITAL BRIEF: Private Equity Fund, Apis Partners, Raises $157m for Financial Technology Startups in Africa, South Asia

Apis Partners, a London-based private equity firm, has raised USD 157 million in investments for the Apis Growth Fund that it launched in 2014 to target technology firms working in payments, savings, investments, credit and insurance in Africa and South Asia. Continue reading

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MICROCAPITAL BRIEF: Thailand’s Kiatnakin Bank, Siam Commercial Bank; India’s Tamilnad Mercantile Bank; ING Bank of the Netherlands Participate in $65m Syndicated Loan to Microfinance Institution (MFI) Prasac to Encourage Growth of Micro-, Small, Medium-sized Enterprises (MSMEs) in Rural Cambodia

Commercial banks including Thailand’s Kiatnakin Bank and Siam Commercial Bank (SCB); India’s Tamilnad Mercantile Bank (TMB); and the Netherlands’ ING Bank, recently announced the disbursement of a syndicated loan of USD 65 million to Cambodian microfinance institution (MFI) Prasac Microfinance Limited. Continue reading

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MICROCAPITAL BRIEF: United Nations Announces Goals of “2030 Agenda for Sustainable Development”

The United Nations recently released the final version of, “Transforming Our World: The 2030 Agenda for Sustainable Development,” highlighting 17 sustainable development goals with 169 associated targets intended to eradicate poverty by the year 2030. Continue reading

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MICROCAPITAL BRIEF: India’s Micro Units Development and Refinance Agency (MUDRA) Bank Loans $5.5m to Microfinance Institution (MFI) Satin Creditcare

The Micro Units Development and Refinance Agency (MUDRA) Bank, an Indian public-sector financial institution that provides subsidized loans to microfinance institutions (MFIs) and non-banking financial institutions, recently announced that it has disbursed a loan of INR 350 million (approximately USD 5.5 million) to Satin Creditcare Network Limited, a for profit MFI based in Delhi, India.
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MICROCAPITAL BRIEF: Green For Growth Fund Disburses $22m to ProCredit Bank Serbia to Support Lending for Energy Efficiency Projects

The Green for Growth Fund, Southeast Europe (GGF), a Luxembourg-based investment vehicle that supports energy-efficient initiatives in Southeast Europe, recently disbursed a senior loan of EUR 20 million (USD 22 million) to ProCredit Bank Serbia (PBS), a commercial bank that is specialized in lending to micro-, small and medium-sized enterprises (MSMEs) in Serbia. Continue reading

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MICROCAPITAL BRIEF: C-Quadrat Asset Management’s Vision Microfinance Funds Issue $5.5m in Credits to Microfinance Institutions (MFIs) in Bolivia, Ecuador, El Salvador, Georgia, India, Mongolia, Nicaragua

During July 2015, Austrian asset manager C-Quadrat Asset Management issued loans worth USD 6 million via its two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Bolivia, Ecuador, El Salvador, Georgia, India, Mongolia and Nicaragua. Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues $26m in Bonds for Coopeservidores Cooperative of Costa Rica; Fusion Microfinance, Suryoday of India

Symbiotics, a Switzerland-based for-profit investment intermediary, recently issued bonds for Coopeservidores, a Costa Rican savings and credit cooperative, in the amount of USD 12.5 million; Fusion Microfinance, an Indian microfinance institution (MFI), in the amount of USD 7 million; and Suryoday Microfinance Private Limited (Suryoday), another Indian MFI, in the amount of USD 6.8 million. Continue reading

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MICROCAPITAL BRIEF: 179 NGO Microfinance Institutions (MFIs) Receive Conditional License To Operate in Bangladesh

A group of 179 non-governmental microfinance institutions (MFIs) recently received conditional licenses to operate in Bangladesh for three years. The licenses were granted by the country’s Microcredit Regulatory Authority (MRA), a government agency that supervises the transparency and accountability of MFIs in the country. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $424k to Sri Lanka’s Janamithu Lanka Limited, $841k to Tajikistan’s Humo and Partners

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has issued the following two loans: (1) The equivalent of EUR 462,000 (approximately USD 424,000) in local currency over three years to Janamithu Lanka Limited (JLL), a microfinance institution (MFI) in Sri Lanka that offers loans to poor people for education and asset building; and (2) EUR 850,000 (approximately USD 841,000) over one year to Humo and Partners, a Tajikistan-based MFI founded by the local affiliate of Switzerland-based nongovernmental organization CARE International. The MFI lends mainly to farmers and other rural entrepreneurs [1]. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers $22m Credit to Belinvestbank of Belarus for On-Lending to Micro-, Small and Medium-sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral investment institution headquartered in London, is considering extending a credit line of EUR 20 million (USD 22 million) to Belinvestbank (BIB), a state-owned bank in Belarus. Continue reading

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MICROCAPITAL BRIEF: MetLife Foundation Donates $1.8m to Opportunity International to Support Financial Access through Microfinance, Education in Rural China

MetLife Foundation, an affiliate of the Chicago-based insurance company MetLife, recently announced the disbursement of USD 1.8 million in grant funding to Opportunity International, a microfinance NGO also based in the US city of Chicago, to support its outreach via bank branches and mobile vans in rural China.  Continue reading

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MICROCAPITAL BRIEF: Société Générale Loans $21.2m to Microenterprises in Serbia; European Bank for Reconstruction and Development (EBRD) Guarantees $10.6m in Support of Financial Inclusion Via VisionFund’s AgroInvest

The European Bank of Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it will extend a guarantee facility of RSD 1.15 billion (USD 10.6 million) of a credit line totaling RSD 2.3 billion (USD 21.2 million) to be disbursed by Société Générale Serbia, a subsidiary of the France-based financial institution Société Générale, to rural microenterprises in Serbia. Continue reading

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MICROCAPITAL BRIEF: European Commission, European Investment Fund (EIF) to Guarantee $107m Through European Programme for Employment and Social Innovation (EaSI), Expect to Generate $213m in Loans to European Social and Micro-enterprises

The European Commission, the European Union’s executive body, and the European Investment Fund (EIF), an EU-affiliated provider of finance to organizations that lend to small and medium-sized enterprises (SMEs), recently partnered to introduce the European Programme for Employment and Social Innovation (EaSI). Continue reading

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