Category: Investment Funds

MICROCAPITAL BRIEF: IFC, AFD, Goldman Sachs 10,000 Women to Guarantee $5m in SME Lending by Lebanon’s BLC Bank

The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Agence Française de Développement (AFD), the international development arms of the French government, recently launched a Middle East and North Africa (MENA) SME Risk Sharing Facility, through which the organizations will guarantee loans for small and medium-sized enterprises (SMEs), 20 percent of which are to be issued to enterprises owned and operated by women. Continue reading


MICROCAPITAL BRIEF: Asian Development Bank, Citigroup to Facilitate Up to $100m in Local Currency Loans for MFIs in Asia

The Asian Development Bank (ADB), a 67-member development finance institution headquartered in the Philippines, and Citigroup, a financial services corporation based in the US city of New York, recently announced the intention to facilitate up to USD 100 million in local-currency loans for microfinance institutions (MFIs) in Asia under the Microfinance Risk Participation and Guarantee Program. Continue reading


MICROCAPITAL BRIEF: JazzCash Mobile Money Users in Pakistan to Gain Access to Merchants Accepting Visa Cards

JazzCash, a mobile money service of Pakistan-based cellular phone network Mobilink, and Visa, a US-based payment technology company, recently announced that JazzCash Mobile Account customers will be able to make purchases from the millions of merchants worldwide that accept Visa payment cards, including approximately 50,000 retail outlets in Pakistan. Continue reading


MICROCAPITAL BRIEF: Government of Canada to Invest $6m in Afghanistan’s Zardozi to Support Women’s Economic Empowerment

The government of Canada recently announced it will donate USD 5.9 million from 2016 to 2020 to Zazdozi, an Afghanistan-based NGO supporting women in establishing microenterprises. Continue reading


MICROCAPITAL BRIEF: Green for Growth Fund Announces $1.1m Senior Loan to Kosovar Microfinance Institution AFK to Reduce Energy Consumption in Homes, Businesses

The Green for Growth Fund (GGF), a Luxembourg-based investment vehicle that supports energy-efficiency (EE) initiatives in Eurasia and North Africa, recently announced a senior loan in the amount of EUR 1 million (USD 1.1 million) for Agjencioni për Financim në Kosovë (AFK), a non-banking microfinance institution operating in Kosovo. Continue reading


MICROCAPITAL BRIEF: Bangladeshi Farmers to Receive Microloans via Credit Cards Arranged by CARE Bangladesh, DAM, mPower, USAID

The Agricultural Extension Support Activity (AESA) of the United States Agency for International Development (USAID), which is implemented by the Bangladesh-based nonprofit Dhaka Ahsania Mission (DAM), is piloting an initiative to provide smallholder farmers with loans via bank cards. Continue reading


MICROCAPITAL BRIEF: Incofin Microfinance Funds Exit Equity Investments in Bolivia’s Banco FIE

Incofin Investment Management, a Belgium-based investment management firm focusing on microfinance institutions (MFIs) in developing countries, recently announced sales of some of its equity in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), a Bolivian bank focusing on the financially excluded, to the bank’s incumbent shareholders. Continue reading


MICROCAPITAL BRIEF: MIF, Swiss Government Partner to Launch Social Impact Bond Fund to Improve Urban Employment in Colombia, Repayment to Be Contingent on Successful Client Outcomes

The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, is partnering with the Swiss State Secretariat of Economic Affairs (SECO) and the Colombian government’s Department for Social Prosperity (DPS) to launch a social impact bond fund aimed at increasing urban employment in Colombia. Continue reading


MICROCAPITAL BRIEF: Sanad Fund for MSME Announces $10m Loan to Egyptian AlexBank

The Sanad Fund for MSME (Micro Small and Medium Enterprises), a provider of loans and equity to financial institutions in the Middle East and North Africa, recently announced that it will lend an additional USD 10 million to AlexBank, an Egypt-based financial services institution, to on-lend to MSMEs in Egypt [1]. Continue reading


MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru, the Philippines

Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru and the Philippines. Continue reading


MICROCAPITAL BRIEF: Symbiotics, UBS Close $50m SME Finance – Loans for Growth Fund

Symbiotics, a Switzerland-based investment intermediary, and UBS, which is formerly known as the United Bank of Switzerland, recently closed their SME Finance – Loans for Growth Fund with USD 50 million in investments. The fund will provide credit to financial institutions focused on lending to small and medium-sized enterprises (SMEs) in “frontier and emerging markets.” Continue reading


SPECIAL REPORT: Rajnish Dhall of Micro Housing Finance Corporation, Mark van Doesburgh of Triple Jump Preview European Microfinance Week Session on Micromortgages, More

MicroCapital: How does housing finance differ from traditional microfinance?

Rajnish Dhall: In India, traditional microloans usually are: (1) sized less than USD 1,000; (2) targeted for productive assets; (3) priced at around 22 percent per year; (4) repaid within less than a year or two; and (5) carry a group guarantee in lieu of collateral. In contrast, the micromortgages that Micro Housing Finance Corporation (MHFC) offers first-time homebuyers: (1) average about USD 8,000 in size; (2) carry interest rates of about 12.5 percent per year; (3) usually have a term of 15 years; (4) are individual rather than group-based; and (5) most importantly, are secured with the home as collateral. While the audience is quite similar, the products are almost at opposite ends of the spectrum.

Mark van Doesburgh: The MicroBuild Fund (MBF) we manage for Habitat for Humanity Continue reading


MICROFINANCE EVENT: Global Impact Investing Network (GIIN) Investor Forum, December 7-8, 2016, Amsterdam, the Netherlands

Event Name: Global Impact Investing Network (GIIN) Investor Forum 2016

Event Date: December 7 – December 8, 2016

Event Location: NH Collection Grand Hotel Krasnapolsky, Dam 9 1012 JS, Amsterdam, the Netherlands Continue reading


MICROCAPITAL BRIEF: BlueOrchard Launches $120m Japan ASEAN Women Empowerment Fund to Invest in Southeast Asian Microfinance Institutions

BlueOrchard Finance, a Switzerland-based commercial manager of “impact” investments, recently announced the launch of its Japan Association of Southeast Asian Nations (ASEAN) Women Empowerment Fund, which plans to invest USD 120 million in microfinance institutions (MFIs) focused on lending to female micro- and small-scale entrepreneurs in ASEAN countries. Continue reading


MICROFINANCE PUBLICATION ROUND-UP: Role of Impact Investing in Achieving UN Sustainable Development Goals; Microfinance Investment Vehicle Survey; Lessons from Tanzania’s Digitization Efforts

“Achieving The Sustainable Development Goals: The Role of Impact Investing;” published by The Global Impact Investing Network; September 12, 2016; 9 pages; available at

This report profiles impact investors that have leveraged the United Nations (UN) Sustainable Development Goals (SDGs) for the following purposes: (1) as a framework to communicate their social impact goals; (2) to develop new or realign existing investment strategies and; (3) to attract capital from private investors that are new to impact investing. Continue reading


MICROFINANCE EVENT: Sankalp Africa Summit, February 23-24, 2017, Kenya School of Government, Nairobi

Event Name: Sankalp Africa Summit 2017: Spurring the Entrepreneurship Economy

Event Date: February 23 – February 24, 2017

Event Location: Kenya School of Government, Lower Kabete, Nairobi City, Kenya Continue reading


MICROCAPITAL BRIEF: Guatmemala’s Fundación Génesis Empresarial, Pakistan’s Kashf Foundation, Opportunity Bank of Uganda Named as Finalists for Education Edition of $112k European Microfinance Award

The European Microfinance Platform (e-MFP), a network of European microfinance stakeholders working in developing countries, recently announced that three finalists for the 7th European Microfinance Award have been selected from 30 applicants: (1) Fundación Génesis Empresarial of Guatemala; (2) Kashf Foundation of Pakistan; and (3) Opportunity Bank of Uganda. Continue reading


MICROCAPITAL BRIEF: The MasterCard Foundation, Root Capital to Invest $5.2m in Early-Stage Agricultural Businesses in West Africa

Root Capital, a US-based nonprofit investment fund, and The MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard Worldwide, recently announced a partnership aimed at raising incomes for 300,000 smallholder farmers in West Africa. Continue reading