Category: Eastern Europe and Central Asia

MICROCAPITAL BRIEF: EFSE Extends Credit of $20m QNB Finansbank of Turkey for On-lending to Agricultural Small, Medium-sized Enterprises (SMEs)

The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle led by German development bank Kreditanstalt für Wiederaufbau (KfW), recently announced that it has provided an additional senior loan to QNB Finansbank, a Turkey-based commercial bank, in the amount of USD 20 million. QNB plans to use the funds to expand its agricultural lending in rural Turkey. In support of the transaction, EFSE is offering QNB Continue reading

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MICROFINANCE EVENT: United Nations Development Programme (UNDP), Institut Européen d’Administration des Affaires (INSEAD) Present Impact Investment for Development Summit 2017; March 21-23; Yerevan, Armenia

Event Name: Impact Investment for Development Summit 2017

Event Date: March 21-23, 2017

Event Location: Yerevan, Armenia

Conference Organizers: The conference is jointly organized by the United Nations Development Programme (UNDP) and Institut Européen d’Administration des Affaires (INSEAD). TEDxYerevan, Impact Hub Yerevan, European Fund for Southeast Europe (EFSE), European Venture Philanthropy Association (EVPA), Impact Alpha and @lliance serve as organizing partners.

Summary of Event: This summit will cover “sustainable” development financing methods with the goal of Continue reading

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Written by Comments Off on MICROFINANCE EVENT: United Nations Development Programme (UNDP), Institut Européen d’Administration des Affaires (INSEAD) Present Impact Investment for Development Summit 2017; March 21-23; Yerevan, Armenia Posted in Eastern Europe and Central Asia, Events

MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Funds Loan $18m in Eurasia, Latin America, Zambia

C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 17.5 million to unidentified providers of financial services in Cambodia, Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Advise Microfinance Institution (MFI) Agency for Finance of Kosovo (AFK) on Agricultural Services

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 advise the Agency for Finance (AFK), a microfinance institution (MFI) in Kosovo, on lending strategy and methods to finance the development of the country’s agricultural sector. Continue reading

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MICROCAPITAL BRIEF: MicroFinanza Rating Issues 10 Institutional, Social Ratings

During February 2017, Italy-based MicroFinanza Rating issued “microfinance institutional ratings” to the following institutions, all with stable outlooks: Indonesia’s Komida, which was assigned a grade of BB; Albania’s NOA, which earned a BBB; Haiti’s ACME, which was assigned a BB+; Vietnam’s Anh Chi Em (ACE), which got a BB-; and two institutions that each received an A-, Continue reading

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MICROCAPITAL BRIEF: Garanti Leasing Borrowing $26m from EFSE to Finance Micro-, Small Enterprises in Turkey

The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle domiciled in Luxembourg, recently announced it is lending EUR 25 million (USD 26.5 million) to Garanti Leasing, a subsidiary of Turkey-based Garanti Bank, to facilitate increased support for micro- and small enterprises in Turkey. Garanti Leasing plans to utilize half Continue reading

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MICROCAPITAL BRIEF: IFC Syndicates $44m in Debt from BIB, Incofin, MicroVest, Symbiotics for KazMicroFinance (KMF) of Kazakhstan

KazMicroFinance (KMF), a microfinance institution operating in Kazakhstan, recently borrowed USD 44 million syndicated by the World Bank Group’s International Finance Corporation (IFC) in an effort to enable KMF to expand its lending to small businesses. Of the total, IFC is providing USD 5 million Continue reading

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MICROCAPITAL BRIEF: EFSE Lends $2m to VisionFund’s SEF International for Micro-, Small Enterprises in Armenia

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced that it has loaned AMD 970 million (USD 2 million) to Armenia’s SEF International to support the microfinance institution’s (MFI’s) lending to micro- and small businesses. SEF, which offers Continue reading

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MICROCAPITAL BRIEF: EBRD Loaning $5m to FondiBESA for Rural MSMEs, Farmers in Albania

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in the United Kingdom, recently announced that it will loan USD 5 million for rural micro-, small and medium-sized enterprises (MSMEs) and individual farmers in Albania. Continue reading

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MICROCAPITAL BRIEF: FMO Loans $29m to El Salvador’s Fedecredito for On-lending to Cooperatives, Bosnia and Herzegovina’s Partner Mikrokreditna Fondacija for Agricultural Microenterprises

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced two loans to support the provision of financial services to people with low incomes in El Salvador and Bosnia and Herzegovina.

FMO is lending USD 24 million to Continue reading

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MICROCAPITAL BRIEF: EBRD Provides Local-currency Credit Worth $60m for MSMEs in Kazakhstan Through ForteBank

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in the United Kingdom, recently announced that it will provide a local-currency credit line equivalent to approximately USD 60 million for micro-, small and medium-sized enterprises (MSMEs) in Kazakhstan. Continue reading

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MICROFINANCE EVENT: 13th Annual Global Microfinance Forum; March 16 – 17, 2017; Prague, Czech Republic

Event Name: 13th Annual Global Microfinance Forum

Event Date: March 16 – 17, 2017

Event Location: Grandior Prague Hotel, Prague, Czech Republic

Summary of Event: Participants at this event will discuss recent changes in the microfinance industry and predictions for its future. Speakers will address topics Continue reading

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MICROCAPITAL BRIEF: EFSE Loans $16m to Halkbank for Housing, Microenterprise, Small-business Lending in Macedonia

The European Fund for Southeast Europe, a microfinance investment vehicle that was launched by Germany’s KfW Development Bank, announced today that it has issued senior loans totaling EUR 15 million (USD 16 million) to Halkbank AD Skopje, which describes itself as Macedonia’s “first downscaling bank, Continue reading

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MICROCAPITAL BRIEF: ACBA-Credit Agricole Bank, Armeconombank (AEB) Borrow $8.7m via Symbiotics’ Bond Platform to Benefit SMEs in Armenia

Switzerland-based Symbiotics SA, which specializes in micro-, small and medium-sized enterprise investment, recently issued bonds for two Armenian banks: USD 5 million for ACBA-Credit Agricole Bank and USD 3.7 million for Armeconombank (AEB). The latter was the second of two tranches this year totaling USD 10 million for AEB. All of these transactions were intermediated through Continue reading

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MICROCAPITAL BRIEF: Islamic Development Bank’s ICD, Dragon Capital to Develop Sharia-compliant Investment “Silk-way Growth Fund” for SMEs in Kazakhstan

The Islamic Corporation for the Development of the Private Sector (ICD), a development finance institution of the Saudi Arabia-based Islamic Development Bank (IDB), and Dragon Capital Partners, the venture capital and private equity arm of Ukraine-based Dragon Capital Group, recently announced the intention to develop the Silk-way Growth Fund, a Sharia-compliant investment fund benefitting “high growth” small and medium-sized enterprises (SMEs) involved in manufacturing in Kazakhstan. Continue reading

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MICROCAPITAL BRIEF: 16 Additional Institutions Commit to World Bank’s Goal of Achieving Universal Financial Access by 2020

The US-based multilateral World Bank Group (WBG) recently announced that 16 additional financial institutions have committed to partner to work toward “universal financial access” (UFA) by 2020, bringing the size of the group to 30 organizations. The new partners, which have committed to helping a total of 168 million people open new transaction accounts by 2020, are:

(1) the Aga Khan Agency for Microfinance, which operates in Africa, Asia and the Middle East;
(2) Ant Financial (Ali Baba Group) of China; Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: How the Private Sector Can Boost Economic Growth in Sub-Saharan Africa; the Role of Impact Investing in Achieving SDGs in Africa; Documenting Reforms to “Doing Business”

Entreprenante Afrique; by Jean-Michel Severino and Jérémy Hajdenberg; published in French by Odile Jacob; September 2016; 288 pages; available for purchase at: https://play.google.com/store/books/details?id=_vslDQAAQBAJ&rdid=book-_vslDQAAQBAJ&rdot=1&source=gbs_vpt_buy&pcampaignid=books_booksearch_atb

Jean-Michel Severino and Jérémy Hajdenberg argue that the 5-percent average annual growth rate Sub-Saharan Africa has experienced since 2000 is being driven significantly by the region’s small and medium-sized enterprises (SMEs). Continue reading

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