International Finance Corporation (IFC) in consortium with other international financial institutions hosted a two-day workshop on Corporate Governance in Tbilisi, Georgia, this week attended by over 40 participants from 13 countries.  During the workshop, IFC in association with the Georgian Stock Exchange and the Association of Banks of Georgia (ABG) have developed a voluntary corporate governance code to help banks and businesses introduce international standards and increase confidence in the banking sector.  The voluntary code would set standards of corporate governance higher than that which is currently stipulated by national law. The corporate governance code covers procedural rules for decision making and monitoring the efficiency of a bank’s performance, including, rules on the establishment of internal controls and risk management. Reportedly, the majority of banks which are members of the Association have already embraced the code. Continue Reading »

The European Investment Bank, the long-term lending bank of the European Union, has approved three loan contracts worth a total of EUR 110 million for microfinance-related projects in Bosnia and Herzegovina. EUR 50 million will be allocated to Intesa Sanpaolo Banka for small and medium sized enterprises (SMEs) and priority projects; EUR 50 million to Republic of Srpska Investment-Development Bank (IRBRS) for SMEs and local infrastructure projects; and EUR 10 million to LOK Microfinance for SMEs and start-up businesses. Continue Reading »

Robin Ratcliffe, Director of the SMART Campaign, reports on her observations from the Eighth National Conference on Microfinance hosted by the Russian Microfinance Center which brings together 400 microfinance players across the country as well as representatives from the Russian ministries. Ms. Ratcliffe notes that the Russian microfinance sector is about ten years old, currently reaches about 600,000 clients and is dominated by small business lending carried out by government development funds.  Also, credit cooperatives which have dominate microfinance activities of savings and lending in the rural areas, have been unregulated.  As a result, foreign investors have found it difficult to operate in Russia because management, governance, and accounting standards vary widely.  However, a state has passed new legislation that would establish standards to regulate credit cooperatives for the first time. Continue Reading »

Event Name: Climate Change, Food Security and Resilience of Food and Agricultural Systems in Developing Countries: Mitigation and Adaptation Options

Event Date: November 25 – 27, 2010

Event Location: The University of Hohenheim, Stuttgart, Germany

See Our Comprehensive Event Calendar Here:

http://microfinanceassociation.ning.com/events Continue Reading »

Event Name: International Disaster and Risk Conference: “From Thoughts to Action”

Event Date: May 30 – June 3, 2010

Event Location: The Davos Congress Centre, Promenade 92 7270 Davos Platz, Davos, Switzerland

Event Website: http://www.idrcdavos2010.org/

See Our Comprehensive Event Calendar Here:

http://microfinanceassociation.ning.com/events Continue Reading »

According to an article from the online publication, Azerbaijan Business Center, microfinance institutions (MFIs) that are members of the Azerbaijan Microfinance Association have reached a combined microloan portfolio of USD 393 million as of October 1, 2009 [1,2]. Additionally, the number of active borrowers has exceeded 274,600 [1]. Continue Reading »

The Russian Microfinance Center (RMC), a not for profit trade organization, was established in 2002 to work on behalf of the Russian microfinance community. Its mission is to promote the development of the entire Russian microfinance market. Continue Reading »

Source: XacBank. Continue Reading »

Source: XacBank. Continue Reading »

Source: XacBank. Continue Reading »

The European Bank For Reconstruction and Development (EBRD) is preparing to increase its ownership of Transcapitalbank, a Russian bank that provides loans to “medium-sized corporates, as well as micro and small businesses” and individuals [1,2,3] The subscription to a new issue of ordinary shares will increase EBRD’s stake from 25 percent 28.6 percent [1]. Continue Reading »

Source: European Bank for Reconstruction and Development (EBRD). Continue Reading »

KazMicroFinance-Kazakhstan

BlueOrchard Finance has resumed its relationship with KazMicroFinance in Kazakhstan in August 2009, providing a new loan to the amount of USD 2 million for 18 months. Continue Reading »

Bob Annibale is Global Director of Citi Microfinance. He leads the bank’s commercial relationships with microfinance institutions, on a multi-business and product basis, providing financing and product partnerships to institutions that serve the poor and the unbanked.

He joined Citibank in 1982. After a first assignment in Greece, he held a number of senior treasury, risk and corporate positions at Citi in Athens, Bahrain, Kenya, London and New York.  Mr. Annibale completed his BA degrees in History and Political Science at Vassar College and his Masters Degree in African Studies (History) at the University of London, School of Oriental and African Studies.

Mr. Annibale served on the Board of Advisors for the United Nations High Level Commission on Legal Empowerment of the Poor. He represents Citi on the Board of the Microfinance Information Exchange, on the Council of Microfinance Equity Funds and with the Microfinance Network. He also serves on a number of other external boards and councils. Continue Reading »

Launched in 2000, the Microfinance Gateway is self-proclaimed as “the most comprehensive online resource for the global microfinance community,” getting over four million page hits from 200 countries in 2008. The website is provided by the microfinance arm of the World Bank, the Consultative Group to Assist the Poor (CGAP), in an effort to advance knowledge and encourage innovation within the microfinance industry [1]. In May of this year, the site was re-launched, with interactive features such as ratings, reviews and comment boards. Also among the additions are “Hot Topic” pages with relevant links and overviews for microfinance-related investment, rural and agricultural finance, social performance, microinsurance, savings, technology and more. In an effort to further improve the site, CGAP has released the Microfinance Gateway User Survey 2009, which asks users to rate and comment on new features including accessibility, breadth and depth of information, job postings and the “attractiveness” of the new user interface [2]. Continue Reading »

Bob Annibale is Global Director of Citi Microfinance. He leads the bank’s commercial relationships with microfinance institutions, on a multi-business and product basis, providing financing and product partnerships to institutions that serve the poor and the unbanked.

He joined Citibank in 1982. After a first assignment in Greece, he held a number of senior treasury, risk and corporate positions at Citi in Athens, Bahrain, Kenya, London and New York.  Mr. Annibale completed his BA degrees in History and Political Science at Vassar College and his Masters Degree in African Studies (History) at the University of London, School of Oriental and African Studies.

Mr. Annibale served on the Board of Advisors for the United Nations High Level Commission on Legal Empowerment of the Poor. He represents Citi on the Board of the Microfinance Information Exchange, on the Council of Microfinance Equity Funds and with the Microfinance Network. He also serves on a number of other external boards and councils. Continue Reading »

According to a press release from the International Finance Corporation (IFC), the investment arm of the World Bank, is assisting FORUS Bank, a microfinance institution (MFI) in Russia, with hedging of currency and interest rate risk [1,2,3]. Together, they have performed currency and interest rate swaps worth over USD 13 million [1]. Continue Reading »

Source: MicroFinance Transparency. Continue Reading »