Category: Investment Funds

MICROCAPITAL BRIEF: responsAbility Loans $24m to Microfinance Institutions (MFIs) Inecobank, Agricultural Cooperative Bank of Armenia (ACBA), ACBA Leasing all of Armenia; DemirBank of Azerbaijan; Sekerbank of Turkey

responsAbility Social Investments AG, a Swiss investment company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totaling USD 24 million in microfinance institutions (MFIs) Inecobank, Agricultural Cooperative Bank of Armenia (ACBA) and ACBA leasing of Armenia; DemirBank of Azerbaijan; and Sekerbank of Turkey. The investments have been made through three MIVs: responsAbility Global Microfinance Fund (rAGMF), responsAbility Microfinance Leaders Fund (rAMLF) and responsAbility Mikrofinanz-Fonds. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Loans $24m to Microfinance Institutions (MFIs) Inecobank, Agricultural Cooperative Bank of Armenia (ACBA), ACBA Leasing all of Armenia; DemirBank of Azerbaijan; Sekerbank of Turkey Posted in Deals, Investment Funds, South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: responsAbility Loans $27m to Microfinance Institution Prizma of Bosnia and Herzegovina; Russia’s Forus Bank, NBD Bank, FINCA Russia

responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments worth the equivalent of USD 27.4 million in NBD Bank, a commercial bank in Russia, and three microfinance institutions (MFIs): Microcredit Foundation Prizma of Bosnia and Herzegovina; FINCA Russia; and Forus Bank, also of Russia. Continue reading

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MICROCAPITAL BRIEF: Incofin Loans $10.5m to Microfinance Institutions (MFIs) FINCA Guatemala, FINCA Azerbaijan, LAPO of Nigeria; Makes Equity Investment of $350k in ACME of Haiti

Incofin Investment Management, a private Belgian company that invests in microfinance institutions (MFIs) through six investment funds, recently made debt and equity investments in four MFIs: FINCA Guatemala and FINCA Azerbaijan, both members of US-based FINCA International’s network of MFIs; Lift Above Poverty Organisation (LAPO) of Nigeria; and Association pour la Cooperation avec la Micro Enterprise (ACME) of Haiti. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $49m to Support Micro-, Small and Medium-Sized Enterprises (MSMEs) Through Raiffeisen Banka Serbia, ProCredit Bank Macedonia, Mikrofin Banja Luka of Bosnia and Herzegovina

The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, recently reported to MicroCapital that it has made debt investments worth a total of EUR 34 million (USD 49.7 million) in three banks that support micro-, small and medium-sized enterprises (MSMEs): Raiffeisen Banka Serbia, ProCredit Bank Macedonia and Mikrofin Banja Luka of Bosnia and Herzegovina. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $49m to Support Micro-, Small and Medium-Sized Enterprises (MSMEs) Through Raiffeisen Banka Serbia, ProCredit Bank Macedonia, Mikrofin Banja Luka of Bosnia and Herzegovina Posted in Deals, Eastern Europe and Central Asia, Investment Funds

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $29m to Raiffeisen Bank Bosnia and Herzegovina

The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, recently reported to MicroCapital that it has made debt investments worth a total of USD 29 million in Raiffeisen Bank Bosnia and Herzegovina (BiH), a bank that provides corporate, retail and investment banking services. Continue reading

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MICROCAPITAL BRIEF: Inter-American Investment Corporation (IIC) Approves $15m Loan to Peru’s Mibanco for Lending to Micro- and Small Enterprises (MSEs)

The Inter-American Investment Corporation (IIC), a member of the US-based Inter-American Development Bank (IDB) Group, has approved a USD 15 million loan to Mibanco Banco de la Microempresa SA, a private Peruvian bank that provides a range of financial services to micro- and small enterprises (MSEs). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Inter-American Investment Corporation (IIC) Approves $15m Loan to Peru’s Mibanco for Lending to Micro- and Small Enterprises (MSEs) Posted in Deals, Investment Funds, Latin America

MICROCAPITAL BRIEF: BlueOrchard Loans $1.1m in Local Currency to Cameroonian Microfinance Institution (MFI) Advans Cameroun

BlueOrchard Finance SA, a subsidiary of Switzerland-based BlueOrchard Microfinance Investment Managers, has announced that it will provide a local-currency loan of XAF 500 million (USD 1.1 million) to Advans Cameroun, a microfinance institution (MFI) operating in Cameroon. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: BlueOrchard Loans $1.1m in Local Currency to Cameroonian Microfinance Institution (MFI) Advans Cameroun Posted in Deals, Investment Funds

MICROCAPITAL BRIEF: European Investment Fund Loans $7m to Šiauliu Bankas of Lithuania for Expansion of Microfinance Portfolio

The European Investment Fund (EIF), a public-private partnership (PPP) that supports financial institutions in Europe that serve small and medium-sized enterprises (SMEs), has agreed to loan EUR 5 million (USD 7.2 million) to Šiauliu Bankas, a Lithuanian bank that provides finance to micro-, small and medium-sized enterprises (MSMEs). Continue reading

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MICROCAPITAL BRIEF: ImpactAssets Includes 22 Microfinance-Focused Fund Managers in List of Top 50 Impact Investors

ImpactAssets, a US-based nonprofit company specializing in impact investment, recently released its “2011 ImpactAssets 50,” a list of investment fund managers that “achieve financial performance with positive social and environmental impacts,” including 22 microfinance-focused funds. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: ImpactAssets Includes 22 Microfinance-Focused Fund Managers in List of Top 50 Impact Investors Posted in Investment Funds

MICROCAPITAL BRIEF: responsAbility Loans $6.7m to Interfisa of Paraguay, Ecofuturo of Bolivia, FIE Grand Poder of Argentina, Locfund

responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it made debt investments totaling approximately USD 6.7 million through MIVs it manages to Locfund, an MIV with offices in Costa Rica and Bolivia, and the following three MFIs: Interfisa, a financial intermediation company offering loans, voluntary savings and fund transfer services in Paraguay; Ecofuturo, a regulated Bolivian MFI that supports the development of small and micro-enterprises; and FIE Grand Poder of Argentina. Continue reading

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MICROCAPITAL BRIEF: USAID, VEGA/IESC Announce Second Phase of “Lebanon Investment in Microfinance” Program

The US Agency for International Development (USAID), a government institution that provides economic and humanitarian assistance, and Volunteers for Economic Growth Alliance / International Executive Service Corps (VEGA/IESC), a US-based partnership focusing on private sector development, recently announced the commencement of the second phase of the Lebanon Investment in Microfinance (LIM) program, which will provide funding to seven microfinance institutions (MFIs) in Lebanon: Association for the Development of Rural Capacities (ADR); Association d’Entraide Professionelle (AEP); Al Majmoua; Ameen; Lebanese Cooperative for Development (CLD in French); Emkan; and Makhzoumi Foundation. Continue reading

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MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Janalakshmi Raises $14m in Equity Led by Citi Venture Capital International (CVCI)

Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI), has raised INR 65 crores (USD 14 million) through a third round of equity capital fundraising. Citi Venture Capital International, a US-based private equity investor affiliated with Citigroup, has taken a “significant minority stake” in JFS that reportedly represents its first investment in India since 2008. Continue reading

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MICROCAPITAL BRIEF: FINCA International Announces Launch of FINCA Microfinance Holding With Investments of $74m from IFC, KfW, FMO, responsAbility, Triple Jump

FINCA International, a US-based network of microfinance institutions (MFIs) in 21 countries, has established FINCA Microfinance Holding (FMH) LLC, with USD 74 million from social investors including: USD 35 million from International Finance Corporation (IFC), the private-investment arm of the World Bank Group; USD 15 million from KfW Bankengruppe, a German development bank; EUR 10.5 million (USD 14 million) from Netherlands Development Finance Company (FMO in Dutch), a Dutch public-private partnership (PPP); USD 5 million from the responsAbility Global Microfinance Fund (rAGMF), a microfinance investment vehicle (MIV) managed by responsAbility Social Investments AG of Switzerland; and USD 5 million from Triple Jump, a Dutch investment manager and advisory firm for the microfinance sector. Continue reading

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MICROCAPITAL BRIEF: Spurned by Commercial Banks, Indian Microfinance Institutions (MFIs) Raise Funds from Social Investors IFC, ACCION, MicroVest, ShoreCap, Aavishkaar, BlueOrchard

Indian microfinance institutions (MFIs), which have seen new lending from commercial banks dry up since the “Andhra Pradesh crisis” broke in late 2010, instead have been accessing funds from social and philanthropic investors including: International Finance Corporation (IFC), the private-investment arm of the World Bank Group; ACCION International, a US-based nonprofit organization; MicroVest Capital Management, a US-based family of microfinance investment funds; Shore Capital, a UK-based investment banking company; Aavishkaar Goodwell India Microfinance Development Company Limited, an India-based financing company; and BlueOrchard Microfinance Investment Managers, a Swiss manager of microfinance funds. Continue reading

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MICROCAPITAL BRIEF: European Investment Bank Appoints Frankfurt School of Finance as Technical Assistance Provider for Incofin’s Rural Impulse Fund II in Africa, Caribbean, Pacific (ACP)

Incofin Investment Management (Incofin), a Belgian fund manager that invests in microfinance institutions (MFIs), recently reported that the European Investment Bank (EIB), the European Union’s financing institution, has appointed Frankfurt School of Finance, a bank training and consultancy institute in Germany, to provide technical assistance (TA) for Incofin’s Rural Impulse Fund II (RIF II). RIF II is a EUR 97 million (USD 139 million) fund that invests in MFIs targeting rural areas in developing countries. In order to improve the outreach and impact of its investees, Incofin has integrated a technical assistance facility into the fund. EIB has contributed EUR 1 million (USD 1.4 million) to the facility to support investees located in countries in Africa, the Caribbean and the Pacific (ACP). According to Incofin, the total TA budget of RIF II will amount to approximately EUR 2.5 million (USD 3.6 million).  Continue reading

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MICROCAPITAL BRIEF: Microfinance Institution (MFI) TuranBank of Azerbaijan Receives Loan of $7m from IFC to Expand Rural Lending

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan USD 7 million to TuranBank, a microfinance institution (MFI) in Azerbaijan, in an effort to help the MFI increase its lending to rural micro- and small enterprises (MSEs). Continue reading

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MICROCAPITAL BRIEF: responsAbility Loans $3.9m to Microfinance Institutions (MFIs) Arvand of Tajikistan, Mol Bulak of Kyrgyzstan, Constanta and Lazika Capital, Both of Georgia

responsAbility Social Investments AG, a Swiss investment company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totalling USD 3.9 million in microfinance institutions (MFIs) Arvand of Tajikistan, Mol Bulak Finance of Kyrgyzstan, Joint Stock Company (JSC) Bank Constanta of Georgia and JSC Lazika Capital of Georgia. Continue reading

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MICROCAPITAL BRIEF: responsAbility Loans $6m to ProCredit Bank of Moldova, Foundation for International Community Assistance (FINCA) Russia, FINCA Jordan

responsAbility Social Investments AG (responsAbility), a Swiss asset management company that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has loaned the equivalent of USD 6.3 million to ProCredit Bank of Moldova, Foundation for International Community Assistance (FINCA) Russia and FINCA Jordan through MIVs that it manages. Continue reading

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