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 the following loans in phases over three years: the equivalent of USD 615,000 to La Coopérative Des Membres Unis Bethel Actions (COMUBA) in Benin and the equivalent of USD 350,000 to Coopérative d’Epargne et de Crédit des Soutien aux Initiatives de Femmes pour l’Autopromotion (COOPEC SIFA) in Togo.
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.
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that has committed to extending loans totaling the following amounts in phases over three years: the local-currency equivalent of USD 2.96 million to Myanmar’s Proximity Finance; USD 1.60 million to BRAC Myanmar; and USD 1.37 million to VisionFund Myanmar.
The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently completed a fixed-rate bond issue totaling EUR 500 million (USD 568 million) to fund projects including “climate change mitigation (renewable energy and energy efficiency) and climate change adaptation, as well as inclusive finance projects (microfinance and [small and medium-size enterprise] financing).”
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).
Now that three years have passed since CGAP and the Center for Financial Inclusion (CFI) at Accion published “The Art of the Responsible Exit in Microfinance Equity Sales,” this subject deserves a re-visit and perhaps expansion of the paper’s general principles into industry guidelines.
As the financial inclusion and impact investment industries mature and grow, so does the issue of how investors committed to advancing financial inclusion can “exit responsibly” from
Event Name: The SRI Conference on Sustainable, Responsible, Impact Investing
Event Date: November 1 – November 3, 2017
Event Location: Hotel Del Coronado; San Diego, California, USA
Summary of Event: The theme of this event is “All In For Impact.” It will focus on concrete ways investing can positively impact social and economic spheres. The conference program offers plenary sessions focused on investment and practice management issues, shareholder advocacy strategies, and community impact investment opportunities. In addition, the organizers will present the Moskowitz Prize Award and the SRI Service Award.
The Multilateral Investment Fund (MIF), a member of the IDB (Inter-American Development Bank) Group, recently announced it will invest USD 5 million in equity in a fund launched by Nxtp Labs, an Argentine supporter of technology start-ups in areas such as (fintech), education (edtech), and reducing negative environmental impacts (cleantech).
C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance funds in May issued a loan in Myanmar for the first time.
The International Finance Corporation (IFC), a member of the US-based World Bank Group; the government-backed Netherlands Development Finance Company (which is also known by its Dutch acronym FMO); and Singapore-based SBI-FMO Emerging Asia Financial Sector Fund recently placed equity investments totaling USD 22 million in Sri Lankan-based Sanasa Development Bank (SDB Bank).
The National Provident Fund, a government-backed retirement trust in the Solomon Islands, recently launched youSave, a savings plan designed to help self-employed islanders establish and contribute to retirement accounts as do “formally employed” citizens.
Base of Pyramid Asia (BOPA), a microfinance investment company in Singapore, recently informed MicroCapital that it has raised a total of USD 8 million in equity funding from the Investment Fund for Developing Countries (IFU), which is owned by the Danish government; the Finnish Fund for Industrial Cooperation (Finnfund), which is backed by the Finnish government; and a Danish family office.
WaterEquity, the “social impact investment” subsidiary of US-based NGO Water.org, recently launched the WaterCredit Investment Fund 3 with the goal of raising USD 50 million to “invest in enterprises serving water and sanitation needs among the world’s poor.”
Telkom Kenya, a telecommunications provider in Kenya, recently announced that July 4 will be the last day it will offer the mobile money service Orange Money.
The US-based Ford Foundation recently announced plans to disburse USD 1 billion in “mission-related investments” with initial foci on access to financial services in developing countries and affordable housing in the US.
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.”
Belgium’s Incofin Investment Management (Incofin IM) recently informed MicroCapital that three of its funds, Incofin CVSO, Volksvermogen and Rural Impulse Fund I, have sold their stakes in Financiera Confianza, a Peruvian microfinance institution (MFI) affiliated with Fundacion BBVA MicroFinanzas, which in turn was launched by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) in 2007. While the sizes and prices of the stakes, which included all Confianza shares held by Incofin IM funds, remain confidential, Incofin IM reports that the funds earned “over
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently announced it will loan EUR 40 million (USD 44.9 million) to Union Internationale de Banques (UIB), a Tunisian bank, to support small and medium-sized enterprises’ (SMEs’) “lending activities and expand access to finance for underserved