Category: Key Players

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) May Loan $38m to Raiffeisen Leasing Romania for Micro-, Small, Medium-sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering disbursing a senior, local-currency loan in an amount equivalent to EUR 30 million (USD 38 million) to Raiffeisen Leasing Romania, a subsidiary of Austria-based Raiffeisen Zentralbank Österreich AG (RZB). Continue reading

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MICROCAPITAL BRIEF: Microfinance Institutions in Ghana to Charge Clients Unspecified Fee for Maintaining Deposits Beginning in October 2014

According to a statement attributed to Mr. Collins Amponsah, the board chairman of the Ghana association of microfinance companies (GAMC), an association of 560 member companies providing microfinance services, all Ghanaian microfinance institutions (MFIs) that are members of GAMC will begin charging clients an unspecified fee for managing their deposits beginning in October of 2014. Continue reading

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MICROCAPITAL BRIEF: Alliance for Financial Inclusion (AFI) to Move Headquarters From Thaliand to Malaysia in 2015

The Alliance for Financial Inclusion (AFI), a network of financial policymakers from developing and emerging economies, announced at its recent annual 2014 Global Policy Forum in Port of Spain, Trinidad and Tobago, that in collaboration with Bank Negara Malaysia (BNM), Malaysia’s central bank, AFI will shift its headquarters from Bangkok, Thailand, to Kuala Lumpur, Malaysia, in January 2015. Continue reading

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MICROCAPITAL BRIEF: Warid Telecom, Bank Alfalah, Monet Launch Mobile Money Service “Mobile Paisa” in Pakistan

Warid Telecom, a United Arab Emirates-based provider of cellular phone service in three countries, and Bank Alfalah Limited (BAFL), a Pakistani financial institution, in collaboration with Monet Private Limited, a Pakistan-based electronic payment company, has launched Mobile Paisa, a mobile money service in Pakistan. Continue reading

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MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $2m to Microinvest of Moldova for On-Lending to Micro-, Small Enterprises (MSEs)

The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, has disbursed a senior loan of EUR 2 million (USD  2.6 million) to Microinvest, a microfinance institution (MFI) in Moldova that was founded by Soros Foundation – Moldova, an affiliate of the US-based Open Society Foundations. Continue reading

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MICROCAPITAL BRIEF: Sodexo, Bluedrop Learning, Global Impact Announce Commitments to Middle East, Women-Owned Small, Medium-Sized Enterprises (SMEs) at 10th Clinton Global Initiative Annual Meeting

The tenth annual meeting of the Clinton Global Initiative (CGI), a US-based nonprofit founded by former US President Bill Clinton, is being held in the US city of New York from September 21-24, and has entertained new commitments as well as progress reports on earlier commitments to address global challenges [1][2]: Continue reading

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SPECIAL REPORT: Clinton Global Initiative Members Emphasize Empowering Women and Girls for Fifth Consecutive Year

In the US city of New York today, at the tenth annual meeting of the Clinton Global Initiative, an effort by the US-based Clinton Foundation to connect public and private organizations to address problems such as poverty and climate change, a major focus was placed on empowering women and girls for the fifth consecutive year. Lilianne Ploumen, the Dutch Minister for Foreign Trade and Development Cooperation, argued that it is critical to reach out to those with whom you generally disagree in order to seek common ground from which progress is possible. Regarding issues facing women and girls, Minister Ploumen argued that “leveling the playing field” for females involves more than economics, but extends into areas such as inheritance law, safety in transportation, and the passage and enforcement of laws against domestic violence. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Acquires Minority Stake in Brazilian Insurer Austral Participações for $36m to Support Sectors such as Agriculture

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, recently announced that it has invested BRL 80 million (USD 36 million) to acquire a minority stake in the Brazilian firm Austral Participações, whose holdings include Austral Seguradora, an insurance company focusing on the oil, engineering and surety markets; and Austral Resseguradora (Austral Re), a reinsurance company. Continue reading

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MICROCAPITAL BRIEF: Borrowing in Cambodia from Microfinance, Commercial Banks Forecast to Increase by 147% to $14b by 2020

The latest outlook published by the Credit Bureau of Cambodia (CBC), a provider of credit information to organizations and consumers in Cambodia, forecasts that the total number of customers of microfinance institutions (MFIs) and commercial banks will increase from 1.9 million to 3.3 million individuals by 2020 and that these customers will borrow a total of USD 14 billion by that time, up from USD 5.7 billion [1]. Continue reading

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MICROCAPITAL BRIEF: European Investment Fund (EIF) to Guarantee Loans Disbursed by UniCredit Bulbank to Microenterprises in Bulgaria Under Progress Microfinance Facility

The European Investment Fund (EIF), a provider of finance to organizations that lend to micro-, small and medium-sized enterprises (MSMEs) in Europe, and UniCredit Bulbank, a Bulgarian banking unit of UniCredit Group of Italy, have announced a guarantee agreement that will enable UniCredit Bulbank to support increased financial inclusion of approximately 270 microenterprises in the country [1]. Continue reading

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MICROCAPITAL BRIEF: World Bank Group (WBG) Loans $500m to Government of Indonesia for Financial Sector Reform, Including to Boost Financial Inclusion

The World Bank Group (WBG), a US-based international financial institution, has recently approved a USD 500 million “Financial Sector Reform and Modernization Development Policy Loan”[1] (FSRM DPL) for the government of Indonesia. Continue reading

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MICROCAPITAL BRIEF: FINCA International Raises $30m in Debt in Nine Local Currencies to Support Financial Inclusion of Microentrepreneuers

The Foundation for International Community Assistance (FINCA International), a US-based nonprofit microfinance network, has announced that it has raised debt funding equivalent to USD 30 million in nine local currencies to support the financial inclusion of low-income microentrepreneurs through its Local Currency Microfinance Note III [1]. Continue reading

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MICROCAPITAL BRIEF: BNP Paribas, Orange to Allow Money Transfers Between Bank Accounts, Mobile Money Accounts in Cote D’Ivoire

BNP Paribas, a France-based financial services provider with operations in 84 countries, and Orange, a French telephone and Internet service provider, have announced that their customers in Cote D’Ivoire will now be able to transfer money between their bank accounts and their accounts with Orange Money, Orange’s mobile money service. Continue reading

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MICROCAPITAL BRIEF: JPMorgan Chase Commits $30m to “Financial Solutions Lab”

JP Morgan Chase, a US-based investment and banking firm, reportedly has committed USD 30 million for the establishment of a “Financial Solutions Lab.” The lab will be created as a five-year project with the Center for Financial Services Innovation, a US-based nonprofit consultancy specializing in serving unbanked and underbanked consumers. Continue reading

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MICROCAPITAL BRIEF: Bank of Punjab, MasterCard Launch Electronic Government-To-Person Social Security Payment System in Pakistan

The Bank of Punjab, which is owned by the government of the Pakistani province of Punjab, and MasterCard Incorporated, a US-based payments and technology company with operations in 210 countries and territories, recently announced a “Social Security Program” to convert government assistance to individuals to electronic payments. Continue reading

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