The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in London, recently announced that it has committed EUR 400 million (USD 520 million) to increase financing to small and medium-sized enterprises (SMEs) in the agribusiness sector in Turkey [1]. Continue Reading »
Belgian company Incofin Investment Management (Incofin IM) has disbursed loans through microfinance investment funds it manages to four microfinance institutions (MFIs): USD 3 million to Vision Banco of Paraguay, USD 1 million to Lazika Capital of Georgia, USD 1 million to Credit Mongol LLC of Mongolia and USD 1 million to Forus Bank of Russia [1, 2, 3, 4]. Continue Reading »
Samrudhi Microfin Society, an Indian nonprofit microfinance institution (MFI), has launched WeCareIndia.Org, an online lending portal that allows investors to lend as little as INR 100 (USD 2) to Samrudhi borrowers. Continue Reading »
As of October, 34 microfinance institutions (MFIs) reportedly operate in Uzbekistan under the country’s law “On Microcredit Institutions” with microloans to individuals amounting to UZS 22.5 billion (USD 12.6 million) and microloans to organizations amounting to UZS 2.8 billion (USD 1.6 million). Continue Reading »
Microcredit Foundation Prizma, a microfinance institution located in Bosnia and Herzegovina, has reported to MicroCapital that it received a loan of BAM 1 million (USD 680,000) from Bosnian commercial bank Privredna Banka Sarajevo dd. Continue Reading »
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, has reported to MicroCapital that it has made a loan equivalent to USD 13.4 million to Intesa Sanpaolo Banka, a commercial bank in Bosnia and Herzegovina. Continue Reading »
Fondazione Giordano Dell’Amore, an Italian foundation, and the European Microfinance Network (EMN) have announced the fourth edition of the Giordano Dell’Amore Microfinance Good Practices Europe Award, which aims to increase the understanding of microfinance and promote the sharing of good practices among industry players in Europe. Continue Reading »
The Luxembourg-registered European Fund for Southeast Europe (EFSE) recently reported to MicroCapital that it has signed an agreement to loan EUR 25 million (USD 34 million) to Banca Intesa Beograd, a Serbian commercial bank, to boost the availability of financing to micro– and small enterprises (MSEs), including rural entrepreneurs and small agriculture producers in Serbia. Continue Reading »
Microcredit Foundation Prizma, a microfinance institution located in Bosnia and Herzegovina, has reported to MicroCapital that it received loans equivalent to USD 2.7 million in local currency from Nova Banka, a private Bosnian bank, and BOR Bank, also of Bosnia. Continue Reading »
The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization founded by Crédit Agricole and Grameen Trust, has reported to MicroCapital that it made loans to four microfinance institutions (MFIs): Hekima of the Democratic Republic of the Congo, Finance for Development LLC (FinDev) of Azerbaijan, and Chamroeun and Thaneakea Phum (Cambodia) Limited (TPC) of Cambodia. Continue Reading »
The European Bank for Reconstruction and Development (EBRD), a London-based international finance institution, has distributed a loan equivalent to USD 10 million to the Kyrgyz arm of UniCredit Bank, which is based in Italy and has operations in 22 countries, for lending to micro-small and medium-sized enterprises (MSMEs) in the Kyrgyz Republic. Continue Reading »
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, has reported to MicroCapital that it has made a loan amounting to EUR 15 million (USD 20.7 million) to ProCredit Bank Georgia (PCBG). Continue Reading »
Switzerland’s responsAbility Social Investments AG (responsAbility) recently reported to MicroCapital that it has made loans amounting to USD 8.2 million to microfinance institutions (MFIs) FINCA DRC of the Democratic Republic of the Congo, Bandhan of India and Opportunity Microcredit Romania (OMRO). Continue Reading »
The European Investment Fund (EIF), a public-private partnership that supports financial institutions in Europe that serve small and medium-sized enterprises (SMEs), has agreed to provide a senior loan of RON 4.2 million (approximately USD 1.3 million) to Romanian microfinance institution (MFI) Societatea de Microfinantare Rurala FAER Institutie Financiara Nebancara SA (FAER IFN) through the European Progress Microfinance Facility (Progress Microfinance). Continue Reading »
An unnamed microfinance vehicle managed by Developing World Markets (DWM), a US-based asset manager and investment bank, has made an equity investment of USD 2 million in Joint Stock Company Microfinance Organization Crystal (JSC MFO Crystal), a microfinance institution (MFI) in Georgia that aims to reduce poverty by providing financial services to low-income people [1]. Continue Reading »
The European Union (EU) has committed an additional EUR 5 million (USD 6.9 million) to the UK-based European Bank for Reconstruction and Development (EBRD) for its “TurnAround Management” (TAM) and “Business Advisory Service” (BAS) programs in the Eastern Partnership region [1].
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt and equity investments totaling the equivalent of USD 5.5 million in two microfinance institutions (MFIs), TBC Kredit of Azerbaijan and Kazmicrofinance Limited Liability Company (KMF) of Kazakhstan, and microfinance investment vehicle ACCION Investments in Microfinance, which was established by US-based nonprofit ACCION International [1]. Continue Reading »
The Center for Financial and Credit Counseling (CFKS), a nonprofit established in 2010 in the Bosnian city of Tuzla, has been set up to counter the negative impact of over-indebtedness through financial education, counseling, mediation and debt resolution. Continue Reading »
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