MICROCAPITAL BRIEF: EBRD, TaiwanICDF Lending $4m to Moldovan Express Leasing

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it will loan USD 4 million to Express Leasing and Microcredit, a non-bank financial institution in Moldova that has been owned by US-based private equity firm NCH Capital Group since 2009.

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GGAMF) Loans $1.7m in Kyrgyzstan to First MicroCredit Company (FMCC), Oxus

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has committed to extending loans totaling the following amounts in phases over three years: USD 1.15 million to First MicroCredit Company (FMCC) and the local-currency equivalent of USD 574,000 to Oxus Kyrgyzstan.

MICROCAPITAL BRIEF: AlHuda, Azerbaijan’s SER Agree to Promote Islamic Finance in the Caucasus

Two NGOs, the Pakistan-based AlHuda Center of Islamic Banking & Economics (CIBE) and Azerbaijan’s Studying of Economic Resources (SER) Public Union recently announced they will collaborate to promote Islamic finance in Azerbaijan and other countries in the Caucasus region.

MICROCAPITAL BRIEF: IFC Lending $5.6m to Romania’s Garanti Leasing to Finance Women-owned SMEs

Garanti Leasing, a subsidiary of the Garanti Group Romania specializing in financing real estate, vehicles and agricultural equipment, recently announced it will borrow EUR 5 million (USD 5.6 million) from the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, in order to increase funding for women-owned small and medium-sized enterprises (SMEs).

MICROCAPITAL BRIEF: Symbiotics Raises $18.5m for Georgia’s TBC Bank via MSME Bond Platform

Tbilisi Business Center (TBC) Bank, Georgia-based commercial bank, recently announced that it has raised GEL 45 million (USD 18.5 million) from one or more unidentified investors via the MSME bond platform of Symbiotics SA, a Swiss investment services provider focused on micro-, small and medium-sized enterprises (MSMEs).

MICROCAPITAL BRIEF: Russian Government Considers Lowering Annual Interest Rate Cap for Payday Loans from 600% to 150%

The government of Russia recently prepared legislation that would cut the maximum effective rate on payday loans of less than RUB 30,000 (USD 505) from 600 percent to 150 percent per annum.

MICROCAPITAL BRIEF: EBRD to Lend $11m to Kazakhstan’s Kassa Nova Bank for MSMEs, Women Entrepreneurs

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it will extend a credit line equivalent to USD 11 million in Kazakhstani tenge to Kassa Nova Bank. Kassa Nova will allocate USD 6.6 million of the total to micro-, small and medium-sized enterprises (MSMEs) located outside of major metropolitan areas.

MICROCAPITAL BRIEF: EBRD Lending $23m for MSMEs in Romania via Banca Transilvania’s BT Leasing

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it will loan EUR 20 million (USD 23 million) to Romania’s Banca Transilvania (BT) Leasing to finance micro-, small and medium-sized enterprises (MSMEs).

MICROCAPITAL BRIEF: IFC Loans $17m to Romania’s Agricover for Lending to Small, Medium-sized Agricultural Businesses

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced it will loan RON 70 million (USD 17 million) to Agricover Credit, a non-banking financial institution in Romania, to boost the financial inclusion of farmers as well as small and medium-sized agribusinesses in Romania.

MICROCAPITAL BRIEF: Uzbekistan Borrows $500m from ADB to Build 29k Rural Housing Units Mortgaged by Ipoteka Bank, National Bank of Uzbekistan, Qishloq Qurilish Bank

The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently announced it will issue a loan of USD 500 million as part of an effort to build 29,000 new “affordable” houses in rural parts of nine regions of Uzbekistan.

MICROCAPITAL BRIEF: EIB Group’s DCFTA Initiative East, InnovFin Supporting SMEs in Georgia, Moldova, the Ukraine; ProCredit Secures $56m Partial Loan Guarantee

Both arms of the EU-affiliated EIB Group, the European Investment Bank (EIB) and the European Investment Fund (EIF), are implementing two programs intended to fortify the private sectors of Georgia, Moldova and the Ukraine [1].

MICROCAPITAL BRIEF: EFSE Lending $25m to Turkey’s Yapi Kredi Leasing for Micro-, Small Enterprises (MSEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently indicated that it intends to lend USD 25 million to Turkey’s Yapi Kredi Leasing, “the largest subsidiary of Yapi Kredi Bank.”

MICROCAPITAL BRIEF: MicroFinanza Rating Announces Client Protection Certifications, Ratings in Asia, LAC

During May 2017, Italy’s MicroFinanza Rating (MFR), under license from the US-based Smart Campaign, determined that Kyrgyzstan’s Kompanion Bank and FINCA Pakistan have complied with the certification standards derived from the Smart Campaign’s seven client protection

MICROFINANCE EVENT: 7th Annual Central Asian & Caucasus Microfinance Forum; October 26-27, 2017; Tbilisi, Georgia

Event Name: 7th Annual Central Asian & Caucasus Microfinance Forum

Event Date: October 26 – 27, 2017

Event Location: Tbilisi, Georgia

Summary of Event: The theme of this year’s forum is “Microfinance Goes Digital: the Opportunities and Challenges in the Caucasus and Central Asia.” The event will focus on funding policy, social responsibility and how financial technology

MICROCAPITAL BRIEF: Green for Growth Fund Loans $22m to UniCredit Bank Serbia for Renewable Energy Projects

The Green for Growth Fund, Southeast Europe (GGF), a Luxembourg-based facility investing in environmental efforts, recently announced it will loan EUR 20 million (USD 21.9 million) to UniCredit Bank Serbia, an arm of Italy’s UniCredit Group, to “reduce carbon dioxide emissions” by on-lending the funds to enable