Category: Key Players

MICROCAPITAL BRIEF: Triodos Investment Management Disburses Loans to Micro-, Small, Medium-sized Enterprise (MSME) Lenders in Cambodia, Colombia, India, Jordan, Uzbekistan

Triodos Investment Management, a subsidiary of Netherlands-based Triodos Bank, recently disbursed loans of undisclosed amounts to Annapurna Microfinance, an Indian microfinance institution (MFI); Asociacion Fondo de Desarrollo (FDL), an MFI in Nicaragua; Crezcamos, a Columbian MFI; Hamkorbank, a commercial bank in Uzbekistan; Intean Poalroath Rongroeurng (IPR), an MFI in Cambodia; Intellegrow, a nonbanking financial company (NBFC) serving small and medium-sized enterprises (SMEs) in India; and Vitas Jordan, an Amman-based MFI [1]. Continue reading

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MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Loans $1.2m to Oxus DRC, DRC’s Hekima, Burkina Faso’s ACFIME

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 three loans: (1) EUR 630,000 (USD 732,000) over a two-year period to Oxus DRC, a for-profit MFI based in the Democratic Republic of the Congo (DRC) that was launched in 2013 by the France-based Oxus Group; (2) EUR 271,000 (314,000 USD) over a three-year period to Hekima, a nonprofit specialising in providing group loans to “economically active” poor people in eastern DRC; and (3) EUR 198,000 (USD 230,000) over a three-year period to Agence Communautaire pour le Financement de la Micro Entreprise (ACFIME), a microfinance institution serving low-income populations in Burkina Faso [1]. Continue reading

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MICROCAPITAL BRIEF: Utkarsh Micro Finance, Advans SA Land $24m in Equity from CDC, Lok Capital, Aavishkaar Goodwell India, International Finance Corporation, Norwegian Microfinance Initiative

The Commonwealth Development Corporation (CDC), a development finance institution owned by the UK government, has announced that it has made an equity investment of USD 11 million in Utkarsh, a northern Indian microfinance institution (MFI) [1]. Continue reading

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MICROCAPITAL BRIEF: MasterCard Labs for Financial Inclusion in East Africa Launched with $19m Donation from Bill and Melinda Gates Foundation

MasterCard, a US-based global payments and technology company, recently announced that it is launching the MasterCard Labs for Financial Inclusion, which is intended to generate new ideas and financial tools to promote financial inclusion in East Africa via a three-year grant in the amount of USD 11 million from the Bill and Melinda Gates Foundation, a US-based nonprofit that supports innovations in health, education and other fields. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $7m to TuranBank of Azerbaijan to Fund Micro-, Small, Medium-sized Rural Enterprises

The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it will loan USD 7 million to TuranBank Open Joint Stock Company (TuranBank), a retail and corporate bank in Azerbaijan. Continue reading

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MICROCAPITAL BRIEF: Asian Development Bank Loans $200m to Yes Bank of India to Fund Women’s Self-Help Groups, Small-Scale Farmers

The Asian Development Bank (ADB), a multilateral development finance institution based in the Philippines, has recently approved a loan of up to USD 200 million to Yes Bank Limited, an Indian commercial bank based in Mumbai. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Purchases Entire $42m Issuance of Bonds by Rural Microfinance Institution Bancamía of Colombia

The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it purchased the entire stake of ordinary bonds recently issued by Bancamía S.A. (Corporation), a Colombian microfinance institution (MFI). Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Sells Dai-ichi Life Insurance Company of Japan $100m in “Inclusive Business Bonds”

The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it has sold five-year “inclusive business bonds” valued at MXN 1.5 billion (USD 100 million) to Japan’s Dai-ichi Life Insurance Company (Dai-ichi Life), a firm that offers life, property and casualty insurance as well as investment trust and related services. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), Green for Growth Fund (GGF) Loan $24.2m to Macedonia-based Halkbank AD Skopje to Support Energy Efficiency; Housing; Micro-, Small Enterprises (MSEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), and Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, recently granted loans of EUR 10 million (USD 12.1 million) each to Halkbank AD Skopje, a Macedonia-based bank, for expanding the bank’s work with micro- and small enterprises (MSEs) as well as to support energy efficiency and the housing market. Continue reading

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MICROCAPITAL BRIEF: Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO) Syndicates $30m Loan to Microfinance Institution FINCA Azerbaijan Including $15m From Oesterreichische Entwicklungsbank (OeEB)

FINCA Azerbaijan, the Azerbaijan-based subsidiary of the US-based nonprofit microfinance network Foundation for International Community Assistance (FINCA) recently received a multi-currency, syndicated loan worth USD 30 million from the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership that aims to promote growth in developing economies, with the participation of Oesterreichische Entwicklungsbank AG (OeEB), the development bank of the Austrian government. Each institution will invest the equivalent of USD 15 million, and additional commitments totalling USD 10 million are expected from various international commercial investors and asset managers. The loan facility has a term of five years and the equivalent of USD 15 million of the principal is denominated in local currency [1].  Continue reading

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MICROCAPITAL BRIEF: Foundation for International Community Assistance (FINCA) Launches Microfinance Operations in Owerri, Nigeria

The Foundation for International Community Assistance (FINCA), a US-based nonprofit microfinance network, has formally launched the operations of FINCA Microfinance Bank (FINCA MfB) in Owerri, Imo, Nigeria, following the issuance of its license by the Central Bank of Nigeria (CBN) on October 30, 2014. Continue reading

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MICROCAPITAL BRIEF: CDC, Creation Investments, DEG, International Finance Corporation (IFC), FMO Acquire 40% Equity Stake in India’s Equitas for $51.4m

The Commonwealth Development Corporation (CDC), which is owned by the UK government; Creation Investments Capital Management (Creation Investments), a US-based alternative investment management company; Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution offering long-term project and company financing; the International Finance Corporation (IFC), the private-investment arm of the World Bank Group; and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that they will invest a total of INR 325 cores (USD 51.4 million) to acquire 40 percent of the shares of Equitas Holdings, an Indian microfinance lender. Continue reading

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MICROFINANCE PAPER WRAP-UP: Peru, Colombia, the Philippines Top 2014 Global Microscope on Microfinance Business Environment

According to the Global Microscope on the Microfinance Business Environment 2014, a recent report by the UK-based Economist Intelligence Unit (EIU), Peru is the top country in enabling microfinance for the seventh consecutive year. Continue reading

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MICROCAPITAL BRIEF: Credit Suisse to Fund Opportunity International’s “Empowering Generational Change Through Education” in Africa, Asia, Latin America

Credit Suisse, a Swiss global financial services company with operations in 50 countries, has agreed to donate an undisclosed sum to Opportunity International, a US-based nonprofit providing microfinance in 22 countries, to launch a three-year program entitled “Empowering Generational Change Through Education” that focuses on lending for education initiatives. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Provide $18m to Peru-based La Positiva Seguros Generales through Convertible Subordinated Loan to Expand Insurance to Poor People

The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it will provide USD 18 million to La Positva Seguros Generales, a Peru-based insurance company, through a convertible subordinated loan to expand the availability of insurance to disadvantaged populations within Peru. Continue reading

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