Category: Key Players

MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $24.8m to Cooperative Rural Development Bank (CRDB) of Tanzania, Announces $6.2m for Technical Assistance Programmes in East Africa

The European Investment Bank (EIB), the lending bank of the European Union, recently announced that it will issue a loan worth EUR 20 million (USD 24.8 million) to the Cooperative Rural Development Bank (CRDB), a commercial bank in Tanzania, to support small businesses in the agriculture, manufacturing and retail sectors in Tanzania. Continue reading

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MICROCAPITAL BRIEF: US Agency for International Development (USAID) to Provide $71m to Government of India for Banking, Clean Energy, Water and Sanitation

The US Agency for International Development (USAID), a government agency that provides international economic and humanitarian assistance, recently committed up to USD 71 million to the Government of India to support the country’s banking, clean energy and water and sanitation sectors. Continue reading

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MICROCAPITAL BRIEF: European Investment Bank (EIB) to Loan $31m to AccessBank Azerbaijan for On-lending to Small, Medium-Sized Enterprises (SMEs)

The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently announced that it is extending an intermediated senior loan totaling EUR 25 million (USD 31 million) to AccessBank Azerbaijan, a microfinance bank (MFB) in Azerbaijan, for on-lending to small and medium-sized enterprises (SMEs) in the country. Continue reading

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MICROCAPITAL BRIEF: Global Systems for Mobile Association (GSMA) Launches Code of Conduct for Mobile Money Providers

The Global Systems for Mobile Association (GSMA), a UK-based association of 1,000 mobile operators and associated companies, recently launched a “Code of Conduct for Mobile Money Providers” to provide guidance on best practices for its members. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers $200m Loan to Establish Network for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs) in Kazakhstan

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, recently announced that it is in the final stage of consideration for the establishment of a “Kazakhstan MSME Framework,” a credit facility totaling KZT 36 billion (USD 200 million) for on-lending to micro-, small and medium-sized enterprises (MSMEs) in the country. Continue reading

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MICROCAPITAL BRIEF: The MasterCard Foundation, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO) Provide $6.5m to Launch Accion Africa Board Fellowship

Accion, a US-based nonprofit organization that offers services such as microenterprise loans and business training in 32 coutries; The MasterCard Foundation, a Canadian nonprofit that promotes financial inclusion and education in emerging markets; and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently partnered to launch the Accion Africa Board Fellowship in an effort to promote improved corporate governance and risk management practices in financial institutions assisting people with low incomes. Continue reading

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MICROCAPITAL BRIEF: Technology Recognized as Tool to Improve Property Rights, Payment Platforms, Reduce Transaction Costs at International Monetary Fund (IMF) Seminar: “Future of Finance – Technology and Financial Inclusion”

The International Monetary Fund (IMF), a US-based arm of the United Nations, and the US-based World Bank Group, recently held a seminar on technology and financial inclusion as part of its seminar series entitled “The Future of Finance,” panelists discussed the role of technology as a tool to amend market failures in the provision of financial services for low-income people such as via the documentation of property rights and reductions in transaction costs. Continue reading

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MICROCAPITAL BRIEF: Développement International Desjardins (DID) Loans $1m to Microfinance Institution Arnur of Kazakhstan

Développement international Desjardins (DID), a Canada-based nonprofit organization that focuses on providing technical support and investment to community financial institutions, recently granted a loan of USD 1 million to Arnur Credit, a Kazakhstan-based microfinance institution (MFI) that focuses on agribusiness and individuals living in rural areas. Continue reading

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MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Invests $788k in Oxus DR Congo, $321k in Uganda’s Encot

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has issued the following two loans: Continue reading

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MICROFINANCE PAPER WRAP-UP: “The Next Stage of Financial Inclusion;” by Dean Karlan; Published by Stanford Social Innovation Review

“The Next Stage of Financial Inclusion;” by D. Karlan; published by the Stanford Social Innovation Review; fall 2014; 9 pages; available at: http://www.ssireview.org/pdf/Fall_2014_The_Next_Stage_of_Financial_Inclusion_1.pdf

This paper investigates the evolving role of nonprofit organizations in providing microcredit to people with low incomes. Continue reading

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MICROCAPITAL BRIEF: CGAP, MasterCard Foundation Award $500k for Behavioral Research to Freedom from Hunger, IFMR, Innovations for Poverty, The MicroInsurance Centre

CGAP (Consultative Group to Assist the Poor), a US-based nonprofit that aims to facilitate the expansion of financial access, and The MasterCard Foundation, a Canadian nonprofit that aims to promote youth learning and financial inclusion in emerging markets, recently awarded a total of USD 500,000 to the following four organizations: Freedom From Hunger, a US-based NGO operating in developing countries to alleviate poverty and hunger; IFMR Finance Foundation, an arm of India’s Institute for Financial Management and Research (IFMR) Trust Group; Innovations for Poverty Action, a US-based nonprofit organization that uses randomized evaluations to research development initiatives; and The MicroInsurance Centre, a US-based, for-profit research, product development and training firm. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $5m to KazMicroFinance (KMF) of Kazakhstan for On-Lending to Small Enterprises

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that it will loan the equivalent of USD 5 million in Kazakh tenge (KZT) to KazMicroFinance Limited Liability Company (KMF), a microfinance institution (MFI) in Kazakhstan. Continue reading

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MICROCAPITAL BRIEF: Kenyan Regulators Approve Equity Bank Mobile Money Services Despite Security Objections from Safaricom

The Communications Authority (CA) of Kenya, the government body that regulates the communication industry in the country, and the Central Bank of Kenya (CBK), the country’s central banking authority, have given their approval to Equity Bank, a private Kenyan microfinance bank, to roll out a one-year pilot of its mobile money services using “Thin Sim technology” [1]. Continue reading

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MICROCAPITAL BRIEF: China’s Alibaba Launches Microfinance Arm, Ant Financial, to Consolidate Financial Services Units Including Alipay Mobile Payments, Yu’e Bao Money Market Fund

Alibaba Group Holding Limited, a Chinese internet and e-commerce company, recently launched Ant Financial Services Group, a microfinance arm to consolidate all six of Alibaba’s affiliated entities Alipay, an online payment tool; Alipay Wallet, a mobile payment application; Yu’e Bao, a USD 93 billion money market fund; Zhao Cai Bao, a platform that allows individuals and small businesses directly borrow from investors; Ant Micro, a microfinance provider and MY Bank, an affiliated private bank. Continue reading

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MICROCAPITAL BRIEF: International Monetary Fund (IMF) Releases 2014 Financial Access Survey (FAS)

The International Monetary Fund (IMF), a US-based organisation that is part of the United Nations, has released the results of its 2014 Financial Access Survey (FAS), a publication that provides data and analysis on financial inclusion around the world. Continue reading

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MICROCAPITAL BRIEF: Call for Applicants for $227k Ashden International Sustainable Energy Awards Open until November 4, 2014

Ashden, a UK-based nonprofit established in 2001 that promotes the use of sustainable energy, has issued a call for applicants for the 2015 Ashden International Awards, which will recognize development programs with a focus on reducing carbon emissions and increasing access to sustainable energy. Continue reading

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MICROCAPITAL BRIEF: Project Concern International (PCI) to Target 250,000 Additional Women Through Women Empowered (WE) Initiative

Project Concern International (PCI), a US-based non-governmental organization (NGO), recently announced that it plans to scale up the operations of its Women Empowered (WE) initiative by providing approximately 250,000 women, in addition to the 230,000 women it currently serves, with tools and training for their businesses. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Funds Advisory Services for Small, Medium-Sized Enterprises (SMEs) in Morocco

The European Bank for Reconstruction and Development (EBRD), a UK-based financial institution that operates in Eastern Europe, Central Asia and North Africa, recently began funding advisory services to support small and medium-sized enterprises (SMEs) in Morocco. Continue reading

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