Category: Eastern Europe and Central Asia

MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in India, Kenya, Namibia, Nicaragua, Peru, Romania, Including $3m for Education Lending

Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in India, Kenya, Namibia, Nicaragua, Peru and Romania. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $4.5m to Microfinance Institution Alter Modus of Montenegro

 

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced a loan of EUR 4 million (USD 4.5 million) to Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Announces $1.7m Senior Loan to Kreditimi Rural I Kosoves (KRK) for Microfinance in Rural Kosovo

The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund focused on fostering economic growth in 16 Central Asian and Southeast European countries, recently issued a senior loan in the amount of EUR 1.5 million (USD 1.7 million) to Kreditimi Rural I Kosoves (KRK), a Kosovo-based microfinance institution (MFI) that specializes in “agri-lending” to micro- and small enterprises (MSEs). Continue reading

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MICROCAPITAL BRIEF: EFSE Loans $2.3m to Kosovo’s AFK for On-Lending to Rural Microfinance Clients

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced a senior loan of EUR 2 million (USD 2.3 million) to Agjencioni për Financim në Kosovë (AFK), a non-banking microfinance institution operating in Kosovo. Continue reading

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MICROCAPITAL BRIEF: VisionFund Selects BankBI’s Cloud-Based Software to Manage Microfinance Institutions in 32 Countries

VisionFund International, the microfinance arm of US-based NGO World Vision, recently selected UK-based BankBI Limited’s business intelligence and analytics software to manage its operations in 32 countries. Continue reading

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MICROCAPITAL BRIEF: Green for Growth Fund to Loan $2.2m to Microfinance Institution Alter Modus of Montenegro for Energy Efficiency for Housing, Business

The Green for Growth Fund (GGF), a Luxembourg-based investment vehicle that supports energy-efficiency (EE) initiatives in Southeast Europe, recently announced that it will invest EUR 2 million (USD 2.2 million) in debt in Alter Modus, a Montenegro-based microfinance institution (MFI). Continue reading

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MICROCAPITAL BRIEF: SBP Increases Transaction Limits, Bolsters Alternate Channels to Boost Branchless Banking in Pakistan

The State Bank of Pakistan (SBP) recently announced reforms to the country’s branchless banking regulations in an effort to further the bank’s National Financial Inclusion Strategy (NFIS), launched in May 2015 seeking to deliver financial services to 50 percent of the adult population in Pakistan by 2020.  Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues Bonds Supporting SME, Rural Finance: $12m for Costa Rica’s Banco Improsa, $10m for Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, $6m for Armenia’s Armeconombank

Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds Continue reading

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MICROCAPITAL BRIEF: Asian Development Bank Bond Sale Raises $30m to Boost Local Microenterprises Served by Credo Microfinance, FINCA Georgia

The Asian Development Bank (ADB), a multilateral development banking institution based in the Philippines, recently announced it has raised GEL 64 million (approximately USD 30 million) through a sale of bonds denominated in Georgian lari. Continue reading

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MICROCAPITAL BRIEF: IFU; Private Investors in Denmark, Norway Launch Nordic Micro-financing Initiative

The Nordic Micro-financing Initiative, whose organizers intend it to “provide the less fortunate in the world access to micro-financing” was recently launched in Oslo, Norway. Funded by the Danish government’s Investment Fund for Developing Countries, the Norwegian government’s Norfund and unspecified private investors in Norway, the initiative targets women in 14 nations in Africa and Asia, giving them “an opportunity to invest their way out of poverty, inequality and bleak future prospects.” Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $2.2m to Kreditimi Rural I Kosoves of Kosovo, $500k to First MicroCredit Company of Kyrgyz Republic

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions, recently informed MicroCapital that it has loaned Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $2.2m to Kreditimi Rural I Kosoves of Kosovo, $500k to First MicroCredit Company of Kyrgyz Republic Posted in Eastern Europe and Central Asia

MICROCAPITAL BRIEF: EBRD Loans $5.7m to United Bulgarian Bank for Residential Energy Efficiency

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently loaned USD 5.7 million to the United Bulgarian Bank (UBB), a unit of the National Bank of Greece, for investments to improve the energy efficiency of residential buildings in Bulgaria. The loan is provided as part of EBRD’s Residential Energy Efficiency Credit Line (REECL), a facility serving Bulgaria that was “established by the EBRD in 2005 and extended twice due to strong market demand.” Continue reading

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MICROCAPITAL BRIEF: EBRD Syndicates $21m Loan for Belarusky Narodny Bank for MSMEs in Belarus

The European Bank for Reconstruction and Development, a UK-based multilateral institution, recently announced its intent to arrange a “senior unsecured syndicated A/B loan” of USD 21 million to be lent to micro-, small and medium enterprises (MSMEs) via Belarus’s Belarusky Narodny Bank. The loan is divided into a senior tranche of USD 5 million funded by EBRD and a junior tranche of USD 16 million, which will be “syndicated to financial institutions” other than EBRD. Continue reading

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MICROCAPITAL BRIEF: IFC Lends Burgan Bank of Turkey $60m to Boost Local SMEs’ Access to Finance

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it has loaned USD 60 million to Burgan Bank A.S., the Turkish subsidiary of Kuwait’s Burgan Bank Group. Continue reading

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MICROCAPITAL BRIEF: Incofin’s AgRIF, DWM’s Inclusive Finance Equity Fund II Invest $4m in Crystal, a Georgian Microfinance Institution Focusing on Rural Areas

The Agricultural Rural Impulse Fund (agRIF) together with the Inclusive Finance Equity Fund II recently acquired share capital valued at GEL 9 million (approximately USD 4 million) in Joint Stock Company Microfinance Organization Crystal (Crystal), a Georgian microfinance institution. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Incofin’s AgRIF, DWM’s Inclusive Finance Equity Fund II Invest $4m in Crystal, a Georgian Microfinance Institution Focusing on Rural Areas Posted in Deals, Eastern Europe and Central Asia

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $22m to Fibabanka of Turkey to Support Micro-, Small-scale Agriculture

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced it has loaned Fibabanka, a Turkish commercial bank, EUR 20 million (approximately USD 22 million) to finance micro- and small enterprises (MSEs) working in the Turkish agricultural sector. Continue reading

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MICROCAPITAL BRIEF: Switzerland’s SECO Donates $5m to EBRD for Small Businesses in Kyrgyz Republic, Tajikistan

The Swiss State Secretariat for Economic Affairs (SECO) recently contributed USD 5.1 million to the European Bank for Reconstruction and Development’s (EBRD’s) Small Business Initiative to support “infrastructure, enterprise and financial sector development, climate change mitigation through energy efficiency and renewable energy initiatives, and the sustainable use of natural resources” in the Kyrgyz Republic and Tajikistan. EBRD provides loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses primary via commercial banks and microfinance institutions (MFIs). SECO has donated a total of USD 189 million to EBRD from 1992 through 2016. Continue reading

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