Category: Investment Funds

MICROCAPITAL BRIEF: Sanad Fund for MSME Lends $1.5m for Women’s Enterprises in Palestine via Microfinance Institution Asala

The Sanad Fund for MSME (Micro Small and Medium Enterprise), a provider of loans and equity to financial institutions in the Middle East and North Africa, recently announced that it will lend USD 1.5 million to the Asala for Credit and Development Company, a microfinance institution in Palestine, for on-lending to female entrepreneurs. The microlender operates nine offices in the West Bank and Gaza, focusing on serving micro- and small enterprises owned by women in rural areas. Asala, a for-profit successor to the Palestinian Businesswomen’s Association, was launched in 2014 with support from the Sharakat Continue reading

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MICROCAPITAL BRIEF: FMO Loans $29m to El Salvador’s Fedecredito for On-lending to Cooperatives, Bosnia and Herzegovina’s Partner Mikrokreditna Fondacija for Agricultural Microenterprises

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced two loans to support the provision of financial services to people with low incomes in El Salvador and Bosnia and Herzegovina.

FMO is lending USD 24 million to Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Funds Loan $63m to Various MFIs

Austria’s C-Quadrat Asset Management informed MicroCapital today that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 63.5 million during December to unspecified microfinance institutions (MFIs) in countries including Ghana, Indonesia, Kenya, Mongolia and Sri Lanka. The Continue reading

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MICROFINANCE EVENT: Social Performance Task Force (SPTF) Social Investor Working Group Meeting; March 15-16, 2017; Zurich, Switzerland

Event Name: SPTF Social Investor Working Group Meeting

Event Date: March 15 – March 16, 2017

Event Location: University of Zurich, Rämistrasse 71, 8006 Zürich, Switzerland

Summary of Event: Participants in this meeting will discuss the challenges of social performance management (SPM) as it relates to investing in inclusive finance. Speakers also will share Continue reading

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MICROFINANCE EVENT: Impact Investing: Mainstreaming Purpose-Driven Finance; February 15, 2017; New York, USA

Event Name: Impact Investing: Mainstreaming Purpose-Driven Finance

Event Date: February 15, 2017

Event Location: Time Warner Center, 60 Columbus Circle, New York, New York, USA

Summary of Event: Speakers here will analyze opportunities and obstacles present in the “mainstreaming” of impact investing, which the organizers define as Continue reading

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MICROFINANCE EVENT: Foro Latinoamericano de Inversión de Impacto; February 14 – 16, 2017; Mérida, México

Event Name: Foro Latinoamericano de Inversión de Impacto (FLII) 2017

Event Date: February 14 – 16, 2017

Event Location: Hotel Hyatt Regency, Mérida, México

Summary of Event: This event will address trends in impact investing as well as the social and environmental impacts of the financial industry in general. Speakers will discuss Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Lessons on IPOs from Indian MFIs; Growth In Impact Investing; 10-Year Survey of Microfinance Investment Vehicles

“How to IPO Successfully and Responsibly: Lessons From Indian Financial Inclusion Institutions”; by Anna Kanze; published by the Center for Financial Inclusion (CFI) at Accion; Fall 2016; 25 pages; available at: http://www.centerforfinancialinclusion.org/storage/documents/How_to_IPO_Final.pdf

This report draws upon two recent initial public offerings (IPOs) in the financial inclusion industry – those of Equitas and Ujjivan, both microfinance lenders in India – to make the case that institutions can use IPOs to strengthen their capital base while remaining committed to their social missions. Continue reading

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MICROFINANCE EVENT: 13th Annual Global Microfinance Forum; March 16 – 17, 2017; Prague, Czech Republic

Event Name: 13th Annual Global Microfinance Forum

Event Date: March 16 – 17, 2017

Event Location: Grandior Prague Hotel, Prague, Czech Republic

Summary of Event: Participants at this event will discuss recent changes in the microfinance industry and predictions for its future. Speakers will address topics Continue reading

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MICROCAPITAL BRIEF: EFSE Loans $16m to Halkbank for Housing, Microenterprise, Small-business Lending in Macedonia

The European Fund for Southeast Europe, a microfinance investment vehicle that was launched by Germany’s KfW Development Bank, announced today that it has issued senior loans totaling EUR 15 million (USD 16 million) to Halkbank AD Skopje, which describes itself as Macedonia’s “first downscaling bank, Continue reading

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MICROCAPITAL BRIEF: UN’s Livelihoods and Food Security Trust Fund (LIFT) Provides $10m to The Currency Exchange Fund (TCX) to Subsidize Third-party Lending in Local Currency to Microfinance Institutions in Myanmar

The Currency Exchange Fund (TCX), which is based in the Netherlands, recently raised USD 10 million from the UN-managed Livelihoods and Food Security Trust Fund (LIFT) to reduce the cost of foreign-exchange hedging for “impact lenders” funding microfinance institutions (MFIs) in Myanmar. TCX provides this hedging service, absorbing the currency-exchange risk on the loans, so the lenders can commit US dollars while the MFIs access funding denominated in kyat. Via multiple microloan repayment cycles over three years, the MFIs are expected to gain sufficient liquidity from the LIFT-supported facility to fund Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Funds Loan $22m in Burkina Faso, China, Colombia, El Salvador, Paraguay, Sri Lanka

Austria’s C-Quadrat Asset Management informed MicroCapital today that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 22 million during November to unspecified microfinance institutions (MFIs) in Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues $22m in Bonds for Banco Improsa, Grupo Promerica to Benefit Costa Rican, Salvadoran SMEs

Symbiotics, a Swiss firm specializing in micro-, small and medium-sized enterprise (SME) investment, recently issued bonds for two Central American banks serving SMEs. This included bonds totaling USD 15.7 million for Inversiones Financieras Promerica, the Salvadoran unit of Grupo Promerica, which was founded in Nicaragua and now serves nine countries in Latin America and the Caribbean.

Symbiotics also issued its second tranche of 2016 for Costa Rica’s Banco Improsa in the amount of Continue reading

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MICROCAPITAL BRIEF: D.light Raises $15m in Equity from Energy Access Ventures, KawiSafi, NewQuest, Omidyar to Expand Sales of Solar Products via Microloans, Develop Televisions for Emerging Markets

D.light, a privately-owned retailer of solar appliances based in the US city of San Francisco, recently raised USD 22.5 million in funding to expand its PayGo platform, which offers microloans to finance purchases of solar products. Continue reading

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MICROCAPITAL BRIEF: IFC, Cathay United Bank Loaning $50m to VPBank for SMEs in Vietnam with Support From Women Entrepreneurs Opportunity Facility

The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Cathay United Bank, a Taiwan-based commercial bank, recently announced that they will each lend USD 25 million to Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to support small businesses in Vietnam. Continue reading

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MICROCAPITAL BRIEF: Oikocredit Increases Equity Stake in Bolivian MFI Banco FIE

Oikocredit, a cooperative “social investment” fund based in Amersfoort, the Netherlands, recently increased its equity stake in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), “more than doubling” its investment in the Bolivian microfinance bank. Continue reading

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MICROCAPITAL BRIEF: EFSE, Netherlands’ Ministry of Foreign Affairs, Rabo International Advisory Services Facilitate Capacity Building Plan for FED Invest to Support Farmers, SMEs in Rural Albania

The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund focused on 16 Central Asian and Southeast European countries, in partnership with the Netherlands’ Ministry of Foreign Affairs and Rabo International Advisory Services (RIAS), a subsidiary of Netherlands-based Rabobank Group, recently announced that the EFSE Development Facility will “cover part of the costs of a multi-year capacity building plan” aimed at expanding Albania-based FED Invest’s ability to provide financial services to farmers and small and medium-sized enterprises (SMEs) in rural areas. Continue reading

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MICROCAPITAL BRIEF: European Investment Bank, World Bank Partner to “Boost MENA,” Supporting First-time Entrepreneurs in the Middle East, North Africa

The European Investment Bank (EIB), the Luxembourg-based long-term lender of the European Union (EU), and the US-based multilateral World Bank Group (WBG) recently announced a joint initiative, Boost MENA, to support “first-time entrepreneurs”, particularly women and young people, in the Middle East and North Africa (MENA). Continue reading

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SPECIAL REPORT: Microfinance Investment Vehicles Setting “Green” Targets; Looking to Asian, Latin American MFIs to Deploy Environment-focused Microloans

During European Microfinance Platformone of Friday’s sessions of European Microfinance Week, Hatem Mahbouli, an investment officer with Dutch development bank Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), described his institution’s plans to direct 20 percent of its investments each year to environmental efforts. FMO, which reports the equivalent of USD 9 billion in total assets, has disbursed about USD 120 million of its financial services investments in the “green” sub-sector. To move further toward its goal, FMO is looking particularly to Continue reading

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