Eastern Europe and Central Asia | MicroCapital - Page 10
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    Monday, March 21, 2011

    MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $89m to Finance Small and Medium-Sized Enterprises (SMEs) Through ProCredit Bank Moldova and UniCredit Bank Serbia

    The European Bank for Reconstruction and Development (EBRD), a multilateral finance institution based in London, is providing loans to banks in Serbia and Moldova in an effort to increase access to finance for micro-, small and medium-sized enterprises (MSMEs). Continue Reading »



    Monday, March 14, 2011

    MICROCAPITAL BRIEF: India’s Andhra Pradesh State to Tighten Local Microfinance Institutions (Regulation of Moneylending) Act

    The government of the Indian State of Andhra Pradesh reportedly is set to alter the Andhra Pradesh Microfinance Institutions (Regulation of Moneylending) Act, which was enacted December 2010 in response to complaints of high interest rates and coercive loan recovery, by replacing the term “self-help group (SHG) women” with “below poverty line (BPL) households” [1] [2]. According to unspecified sources at the Andhra Pradesh Chief Minister’s Office, the purpose of the replacement is “to ensure that MFIs adhere to the existing stringent rules” by “bringing all kinds of MFI loan products, existing and future, under the purview of the Act [1].” Continue Reading »



    Friday, March 11, 2011

    MICROCAPITAL BRIEF: International Finance Corporation (IFC), Governments of Austria and Japan Train Bankers in Georgia to Provide Financial Services to Small and Medium-Sized Enterprises (SMEs)

    International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, is currently training bankers in the nation of Georgia to provide financial services to small and medium-sized enterprises (SMEs). IFC is partnering with the governments of Austria and Japan to offer the three-day program covering strategy and market segmentation, product design, credit risk management and information management systems. The initiative is aimed at building self-sustaining SMEs and strategies for funding these organizations. While reportedly being major drivers of economic growth and job creation in Central and Eastern Europe, SMEs often struggle with financing the growth of their businesses. Continue Reading »



    Tuesday, March 8, 2011

    MICROCAPITAL BRIEF: The European Fund for Southeast Europe (EFSE) Lends $5m to Minsk Transit Bank of Belarus

    Finance in Motion, a Frankfurt-based asset management firm focused on development finance, recently reported to MicroCapital that the European Fund for Southeast Europe (EFSE), a microfinance institution investment fund that it advises, made a debt investment of USD 5 million in Minsk Transit Bank, a joint stock company in Belarus [1]. Continue Reading »



    Tuesday, March 8, 2011

    MICROCAPITAL BRIEF: Beema Samiti (Insurance Board) of Nepal Forms Panel to Define Microinsurance Products

    Beema Samiti (Insurance Board), the insurance regulatory authority of Nepal, recently instituted a taskforce intended to define microinsurance products and identify channels for delivering these products to rural and low income-households [1]. Continue Reading »



    Tuesday, March 8, 2011

    MICROCAPITAL BRIEF: Microfinance Institution AccessBank of Azerbaijan Receives ‘BB+’ Rating from Fitch

    Fitch Ratings, a global rating agency headquartered in New York and London, recently confirmed its ratings for AccessBank, a financial institution in Azerbaijan. AccessBank’s long-term foreign-currency Issuer Default Rating (IDR) was confirmed at ‘BB+’ with ‘Outlook Stable’, its short-term IDR was confirmed at ‘B’ and its Individual Rating was confirmed at ‘D’, all of which are at the ‘sovereign ceiling’ which is generally the highest available in a given country. Continue Reading »



    Tuesday, March 8, 2011

    MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Promote Energy Efficiency Through Memorandum of Understanding (MOU) with Government of Bulgaria, $9.7m Loan to Moldovan Bank BCR Chisinau

    In its effort to boost energy efficiency in Eastern Europe, the European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, recently signed a memorandum of understanding (MOU) with the government of Bulgaria and loaned EUR 7 million (USD 9.7 million) to BCR Chisinau, a Moldovan commercial bank. Continue Reading »



    Monday, March 7, 2011

    MICROCAPITAL BRIEF: Tajikistan Microfinance Institutions (MFIs) Arvand, Bank Eskhata, FINCA Tajikistan, Oxus Microfinance Borrow $4.7m From responsAbility Social Investments of Switzerland

    responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has made loans totaling USD 4.7 million to microfinance institutions (MFIs) in Tajikistan. Continue Reading »



    Monday, March 7, 2011

    MICROFINANCE EVENT: 14th Annual Microfinance Centre (MFC) Conference, “Reorienting Microfinance Towards Balanced Growth”, May 18 – 20, 2011, in Prague, Czech Republic

    Event Name: 14th Annual Microfinance Centre (MFC) Conference, “Reorienting Microfinance Towards Balanced Growth”

    Event Date: May 18 – May 20, 2011

    Event Location: Prague, Czech Republic Continue Reading »



    Tuesday, March 1, 2011

    MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), Crédit Agricole Serbia Accept Warehouse Receipts as Collateral for $27m in Loans to Agribusinesses

    The European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, and Crédit Agricole Serbia, a subsidiary of financial institution Crédit Agricole of France, have recently partnered to accept warehouse receipts as collateral for loans totaling EUR 20 million (USD 27.4 million) to agribusinesses in Serbia. Continue Reading »



    Friday, February 25, 2011

    MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $2.9m to CREDIT of Cambodia, Sathapana Limited of Cambodia, HUMO and Partners of Tajikistan, Community Economic Ventures Incorporated (CEVI) of the Philippines

    responsAbility Social Investments AG, an investment company based in Switzerland, has recently reported to MicroCapital that it has made loans totaling the equivalent of USD 2.9 million to microfinance institutions (MFIs) in Cambodia, Tajikistan and the Philippines. Continue Reading »



    Thursday, February 24, 2011

    MICROCAPITAL BRIEF: Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States Announces Launch of Social Performance Start-Up Fund

    The Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States, an international network of approximately 110 microfinance institutions (MFIs), recently announced the launch of its Social Performance Start-up Fund, a facility that aims to provide technical and financial assistance to regional- and country- level microfinance networks that are looking to address social performance. Continue Reading »



    Friday, February 11, 2011

    MICROCAPITAL BRIEF: Belgian Incofin Loans $1.5m to TenGer Financial Group of Mongolia

    Incofin cvso, a Belgian cooperative company that invests in microfinance, recently loaned MNT 41 million (USD 1.5 million) to Tenger Financial Group, a Mongolian Company that controls XacBank LLC, XacLeasing LLC, Horus Nomadic Solutions LLC and TenGer Insurance LLC. Founded in 2001, the group was formed following the merger of Goviin Ehlel (renamed XAC-GE Holding) and X.A.C. (renamed XacBank), two non-bank financial institutions that focus on micro-, small and medium enterprises. Continue Reading »



    Tuesday, February 8, 2011

    MICROCAPITAL BRIEF: responsAbility Social Investments Makes Loans Totaling $12.5m to Belarusian Bank for Small Business (BBSB) of Belarus, Khan Bank of Mongolia, XacBank of Mongolia

    responsAbility Social Investments AG, an investment company based in Switzerland, recently invested USD 12.5 million across three financial institutions based in Belarus and Mongolia. Continue Reading »



    Monday, February 7, 2011

    MICROCAPITAL BRIEF: Pakistan Telecommunication Company Limited (PTCL) to Provide Connectivity and Surveillance Products to National Rural Support Program (NRSP) Microfinance Bank

    Pakistan Telecommunication Company Limited (PTCL), an internet and telephone service provider based in Islamabad, recently reached an agreement with the licensed banking arm of Pakistani microfinance institution (MFI) National Rural Support Program (NRSP), NRSP Microfinance Bank, to provide the central and branch offices of the bank with internet connections and bank surveillance. Continue Reading »



    Friday, February 4, 2011

    MICROCAPITAL BRIEF: responsAbility Social Investments of Switzerland Makes Loans Totaling $10m to FINCA International Subsidiaries in Azerbaijan, Russia, Ecuador and Mexico

    responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it has invested loans approximately equivalent to USD 10.2 million to FINCA International subsidiaries in Azerbaijan, Russia, Ecuador and Mexico. FINCA International is a global microfinance network operating in 21 countries reporting total assets of USD 467 million as of 2009 [2]. Continue Reading »



    Friday, February 4, 2011

    MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $9m to IMPULS-Leasing Romania (ILRO), Supports Leasing to Rural Small and Medium-Sized Enterprises (SMEs)

    The European Bank for Reconstruction and Development (EBRD), a development finance institution that is headquartered in London, recently announced that it loaned EUR 7 million (USD 9.7 million) to IMPULS-Leasing Romania IFN SA (ILRO), a Romanian vehicle and equipment leasing company, to extend leasing services to small and medium-sized enterprises (SMEs) in rural areas. Continue Reading »



    Thursday, February 3, 2011

    MICROCAPITAL BRIEF: Citi Foundation, Russian Microfinance Center to Train MFIs to Train their Borrowers in Entrepreneurship

    Citi Foundation, the charitable arm of global financial services provider Citigroup, has partnered with the Russian Microfinance Center (RMC), a professional association that supports microfinance operators in Russia, to facilitate business development for start-up entrepreneurs in Russia. Continue Reading »