Category: Eastern Europe and Central Asia

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $15m to Eskhata Bank of Tajikistan to Fund Small, Medium-Sized Enterprises (SMEs)

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that it will loan USD 15 million to Eskhata Bank, a commercial bank in Tajikistan. Continue reading

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MICROCAPITAL BRIEF: Oxus Raises $4.2m in Equity from Investors including Agency for Technical Cooperation and Development (ACTED) for Expansion in Asia, Africa

The Oxus Group, a French microfinance organization with subsidiaries in the Democratic Republic of the Congo and three Asian countries, recently raised EUR 3.3 million (USD 4.2 million) in equity through its unit Oxus Holding by selling equity shares to the Agency for Technical Cooperation and Development (ACTED), which already had been its majority shareholder, and three unnamed retail investors. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $19m to Komercijalna banka Beograd of Serbia for Housing Purchases, Improvements

Serbia’s Komercijalna banka Beograd, a bank based in Serbia, recently borrowed EUR 15 million (USD 19.2 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: European Bank for Reconstruction (EBRD) Announces Potential $25m Risk-sharing Endeavor with Société Générale Serbia for Rural Microenterprise Financing Via VisionFund’s AgroInvest

The European Bank of Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it is likely to participate in a risk-sharing endeavor totaling RSD 2.3 billion (USD 25 million) with Société Générale Serbia, a subsidiary of the France-based financial institution Société Générale. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $3m to Muganbank of Azerbaijan for On-Lending to Corporates, Individuals for Energy Efficiency, Renewable Energy Projects

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is loaning USD 3 million to Muganbank, a financial institution that offers retail and corporate banking services in Azerbaijan. Continue reading

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MICROCAPITAL BRIEF: European Investment Fund Loans $2.53m to Vitas via European Progress Microfinance to Support Microenterprises in Romania

The European Investment Fund, a member of the European Investment Bank Group providing financing to small and medium-sized enterprises, recently loaned EUR 2 million (USD 2.53 million) to Vitas, a Romanian microfinance institution, through European Progress Microfinance, a microfinance investment vehicle supported by the EU’s European Commission and the European Investment Bank. Continue reading

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MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Invests $1.68m in Palestine’s Faten, in Azerbaijan’s Viator, in Bangladesh’s Grameen Danone

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has granted loans of EUR 739,000 (USD 937,000) to Faten, a microfinance institution based in the West Bank in Palestine; EUR 702,000 (USD 890,000) to Viator, an Azerbaijani microfinance organization; and a loan, which can be converted into equity, of EUR 240,000 (USD 304,000) to Grameen Danone Foods Limited, a social business in Bangladesh that sells food products containing nutrients that are generally lacking from the regional diet. Continue reading

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MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Invest $8.5m in Microfinance Institutions (MFIs) in Azerbaijan, Cambodia, Ecuador, India

Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, recently informed MicroCapital that it disbursed credits totaling approximately USD 8.5 million from its two Vision Microfinance funds, the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency, to unspecified microfinance institutions (MFIs) in Azerbaijan, Cambodia, Ecuador, and India. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) May Loan $38m to Raiffeisen Leasing Romania for Micro-, Small, Medium-sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering disbursing a senior, local-currency loan in an amount equivalent to EUR 30 million (USD 38 million) to Raiffeisen Leasing Romania, a subsidiary of Austria-based Raiffeisen Zentralbank Österreich AG (RZB). Continue reading

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MICROCAPITAL BRIEF: Microfinance Centre (MFC) To Launch “Borrow Wisely” Campaign in Effort to Increase Financial Literacy in Europe, Central Asia

The Microfinance Centre (MFC), a Poland-based network of 103 microfinance providers in 27 countries, will launch a “Borrow Wisely” campaign during October 2014 with the goal of increasing the financial literacy of 80,000 low-income borrowers in nine countries in Europe and Central Asia. Continue reading

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 MICROCAPITAL BRIEF: European Bank of Reconstruction and Development (EBRD) Commits $5m to Belarusian Minsk Transit Bank (MTB) for Onlending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution that finances companies in countries that are transitioning to open market economies, recently agreed to commit a local-currency,  senior loan worth up to USD 5 million to Minsk Transit Bank (MTB), a government-backed bank in Belarus.  Continue reading

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MICROCAPITAL BRIEF: Dutch Development Bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) Loans $20m to Armenia’s Ameriabank

The Dutch development bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) recently agreed to loan USD 20 million to Ameriabank Closed Joint Stock Company (CJSC) (Ameriabank), a commercial bank in Armenia. Continue reading

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MICROCAPITAL BRIEF: Airtel, Grameen Foundation, Plan International to Launch Mobile Money Platform for Savings Groups in Uganda Under Which All Group Members Must Approve Each Transaction Via SMS

The Ugandan subsidiary of Bharti Airtel, an Indian telecommunications services provider with operations in 150 countries; Grameen Foundation, a US-based nonprofit organization; and the Ugandan arm of Plan International, a UK-based child rights and anti-poverty nonprofit that operates in 48 countries, have entered into a partnership to launch a mobile money platform that is intended to serve savings groups in Uganda.  Continue reading

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MICROCAPITAL BRIEF: Incofin, Triodos Invest in Microfinance Institution (MFI) Arvand of Tajikistan

Belgium-based Incofin Investment Management (Incofin), a private company that manages funds investing in microfinance institutions (MFIs), and Netherlands-based Triodos Investment Management (Triodos), the subsidiary of Triodos Bank that manages funds in “energy and climate, emerging markets, arts and culture and sustainable real estate”[2], jointly acquired a 36-percent equity stake in Microcredit Deposit-Taking Organization Arvand (Arvand), an MFI that operates in and around Dushanbe, the capital of Tajikistan as well as in the country’s Sughd region. Continue reading

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MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $5m to Microfinance Institutions (MFIs) in Georgia, Bolivia, Tajikistan

Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, disbursed a total of USD 5 million as loans from its two Vision Microfinance funds, the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency, to unidentified microfinance institutions (MFIs) in Georgia, Bolivia and Tajikistan. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Lends $5m to DemirBank of Azerbaijan to Promote Residential, Business Energy-Efficiency Projects

The European Bank for Reconstruction and Development (EBRD), a UK-based development bank that operates in eastern Europe, central Asia and northern Africa, has loaned USD 5 million to DemirBank, a commercial bank in Azerbaijan that focuses on lending to small and medium-sized enterprises (SMEs), with the intention of promoting projects that reduce energy use in the country. Continue reading

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MICROCAPITAL BRIEF: Government of Canada, International Finance Corporation (IFC) Support Small, Medium-sized Agricultural Enterprises in Ukraine

The Department of Foreign Affairs, Trade and Development Canada (DFATD) recently informed MicroCapital that the government of Canada and the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, plan to work together to provide an unspecified level of financial support and technical advice to small and medium-sized agricultural enterprises in Ukraine. Continue reading

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