Mennonite Economic Development Associates (MEDA), a Canada-based nonprofit that aims to alleviate poverty through financial investment via 227 partner institutions in 56 countries, and its Morocco division, MEDA Maroc, are launching the “Financial Solutions Youth” project in an effort to support Moroccan microfinance institutions (MFIs) in improving access to financial services for youth. Continue Reading »

Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution; the International Finance Corporation (IFC), the commercial arm of the US-based World Bank Group, and the African Capitalization Fund (ACF), a US-based investment fund managed by IFC subsidiary IFC Asset Management Company, recently placed an equity investment totaling approximately GHS 46 million (USD 23.3 million) in UT Bank Limited, a publicly-traded Ghanaian bank that offers microfinance services and was formerly known as Unique Trust Financial Services. Continue Reading »

Caspian Advisors Private Ltd., an Indian investment management and advisory services company specializing in the socially-responsible arena, recently launched the Caspian Impact Investments (CII) fund, which is targeted to raise USD 40 million for projects in the areas of microfinance, small business financing, affordable housing and agriculture. Continue Reading »

The Rockefeller Foundation, a US-based organization, and the Tony Elumelu Foundation, a Nigeria-based organization, recently announced the launch of the Impact Economy Innovations Fund (IEIF), an impact investment fund operating across Africa. Continue Reading »

The Nigeria Deposit Insurance Corporation (NDIC), a quasi-independent agency of the federal government that insures deposit-taking financial institutions, recently announced that it will grant an undisclosed amount of financial assistance to distressed microfinance banks (MFBs) and primary mortgage banks (PMBs) recently closed by the Central Bank of Nigeria (CBN). Continue Reading »

Indian microfinance institution (MFI) Satin Creditcare Network Limited recently raised INR 410 million (USD 7.5 million) by selling a stake of approximately 20 percent to three microfinance investment funds in undisclosed portions: Danish Microfinance Partners K/S (DMP), MicroVest II LP and ShoreCap II Limited. Continue Reading »

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently loaned EUR 1.5 million (USD 1.9 million) to Mikrokreditna Fondacija Mi-Bospo, a microfinance institution (MFI) based in Bosnia and Herzegovina that loans exclusively to women. Continue Reading »

The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution based in London, plans to invest up to USD 20 million in the Da Vinci Private Equity Fund II, which invests in small and medium enterprises (SMEs) operating in the financial infrastructure sector in the Commonwealth of Independent States (CIS), which is composed of the former Soviet republics. Continue Reading »

Indian non-banking financial company (NBFC) Grameen Financial Services Private Limited, also known as Grameen Koota, recently received INR 532 million (USD 9.8 million) in its third round equity funding from Beligium-based investment company Incofin, Italy-based private equity firm MicroVentures, Indian-Dutch joint venture Aavishkaar Goodwell, and US-based for-profit company Creation Investments. Continue Reading »

Incofin Investment Management, a Belgium-based manager of microfinance investment funds, and the Norwegian Microfinance Initiative (NMI), a Norway-based corporation that invests in and provides technical support for microfinance institutions (MFIs), recently invested INR 250 million (USD 4.5 million) in Indian non-banking financial company (NBFC) Fusion Microfinance Private Limited. Continue Reading »

Event Name: Responsible Investing Conference

Event Date: May 15, 2013

Event Location: Kirchberg, Luxembourg Continue Reading »

The European Bank for Reconstruction and Development (ERBD), a UK-based multilateral institution, recently launched a facility in Belarus to provide a total of up to USD 50 million in loans intended to fund investments in energy efficiency and renewable energy. Continue Reading »

The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, recently disbursed a grant of USD 362,000 to Nicaraguan nonprofit microfinance organization Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER) to support the microlender in the process of becoming regulated by the country’s Superintendency of Banks and Other Financial Institutions, which is known by the Spanish acronym SIBOIF. Continue Reading »

The New Urban Finance Facility for Africa (NUF), an impact investing facility that supports housing microfinance, is investing USD 100 million to fund microfinance housing schemes in Africa and the Middle East, with initial investments going to Ghana, Kenya, Tanzania, Uganda and the West Bank. Continue Reading »

The European Fund for Southeast Europe (EFSE), a fund that seeks to foster economic development in southeastern Europe and parts of Central Asia, has made an equity investment of EUR 479,000 (USD 643,000) in Kreditimi Rural I Kosoves LLC (KRK), a microfinance institution based in Kosovo. Continue Reading »

Austria-based asset management company Absolute Portfolio Management (APM) recently announced that it has disbursed the equivalent of USD 5 million to microfinance institutions (MFIs) in Latin America through its two Dual Return-Vision Microfinance funds in early 2013. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with Yes Bank, a commercial bank headquartered in Mumbai, to establish a fund to support small businesses in northeast India. Continue Reading »

Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), is reportedly seeking to increase its customer base by 1 million by 2014 and has raised INR 20 crores (USD 3.8 million) in capital from three of its investors: Aavishkaar Goodwell, a for-profit, Indian-Dutch joint venture; Lok Capital, a Mauritius-based microfinance investment vehicle; and the Housing Development Finance Corporation (HDFC), an India-based housing finance company. Continue Reading »