Category: Key Players

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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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $12m to Araratbank of Armenia to Support Micro-, Small Enterprises (MSEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, has announced that it is loaning USD 12 million to Araratbank Open Joint Stock Corporation (OJSC), an Armenian bank that provides financial services to micro- and small enterprises (MSEs) [1]. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), MasterCard Foundation, Tigo to Expand Mobile Financial Services in Ghana

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group; the MasterCard Foundation, a Canadian nonprofit founded by US-based global payment processing company MasterCard that aims to promote youth learning and financial inclusion in emerging markets; and Tigo Ghana, a unit of Luxembourg-based telecommunication firm Millicom International Cellular, recently announced that they have signed an agreement worth USD 2 million to provide advisory services to support Tigo Ghana “to develop and expand mobile financial services in support of wider financial inclusion”[1] in Ghana. Continue reading

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MICROCAPITAL BRIEF: SKS Trust Advisors Sells 7.6% of SKS Microfinance, Decreasing Stake to 4.8%

SKS Trust Advisors Private Limited, the India-based trustee of five mutual benefit trusts benefiting groups who borrow from SKS Microfinance Limited, reportedly has sold a 7.6-percent stake in SKS Microfinance, a for-profit Indian microfinance institution (MFI), to an unspecified buyer. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), Colombian Federation of Chambers of Commerce, Superintendence of Corporations to Facilitate Lending Based on Movable Collateral

The International Financial Corporation (IFC), the private investment arm of the World Bank Group, has partnered with the Superintendence of Corporations of Colombia, a government agency that regulates corporations, and Confecamaras, the Colombian Federation of Chambers of Commerce, to launch a lending framework that is intended to facilitate financial access for micro-, small and medium-sized enterprises (MSMEs) in the country [1].

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $4.8m in Fondo Para el Desarrollo (FONDESA) to Support Financial Inclusion in Dominican Republic

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has disbursed a three-year, DOP 200 million (USD 4.8 million) loan to Fondo Para el Desarrollo Incorporated (FONDESA), a nonprofit microfinance institution in the Dominican Republic. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $4m to Mikrofin Banja Luka of Bosnia and Herzegovina for On-lending to 2,000 Micro-, Small Enterprises

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, has disbursed a senior loan of EUR 3 million (USD 4.1 million) to microfinance institution Mikrofin Banja Luka of Bosnia and Herzegovina to increase the company’s lending capacity and expand loan services to approximately 2,000 micro- and small enterprises in the country. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $6.8m to MF Banka a.d. Banja Luka of Bosnia and Herzegovina for On-lending to Micro-, Small Enterprises

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, has disbursed a senior loan of EUR 5 million (USD 6.8 million) to MF Banka a.d. Banja Luka, a microfinance institution (MFI) in Bosnia and Herzegovina. Continue reading

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MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Introduces FINclusion Lab, Offering Country-Specific Financial Inclusion Data Visualization and Analysis

The Microfinance Information Exchange (MIX), a US-based nonprofit, recently announced the launch of FINclusion Lab, a platform that provides interactive visual interpretation and analysis of country-specific data pertaining to financial services activities in Africa, Asia and Latin America [1]. Continue reading

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MICROCAPITAL BRIEF: Grameen Foundation Anticipating $1m in Donations to Last Mile Initiative for Latin America

The Grameen Foundation, a US-based nonprofit organization, recently announced that it is anticipating donations to its Last Mile Initiative totaling USD 1 million after receiving a USD 500,000 donation from David and Susan Russell, which must be matched with an equal amount of funds from other sources. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers Syndicating $25m Investment in Minsk Transit Bank (MTB) of Belarus for On-Lending to Micro-, Small, Medium-sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, is considering investing USD 25 million in Belarusian commercial bank Minsk Transit Bank (MTB) for on-lending to micro-, small and medium-sized enterprises (MSMEs). Continue reading

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