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The International Finance Corporation, a member of the World Bank Group, recently announced that it will invest up to INR 1.35 billion (USD 20 million) in Grameen Koota Financial Services Ltd (GFSPL) and INR 3.4 billion (USD 50 million) in Janalakshmi Financial Services (JFS), Bangalore-based microfinance institutions (MFIs). Continue reading
IntelleGrow Private Limited, an India-based nonbanking financial company specializing in venture debt that was founded by India’s Intellecap Capital Advisory Services, recently announced that it has raised INR 134 billion (approximately USD 20 million) in equity and debt. Continue reading
The Ministry of Economy of Gabon recently froze the activities of 50 microfinance institutions that lacked approval to offer microfinance services. Continue reading
The Microcred Group, a France-based for-profit microfinance company and member of Positive Planet, recently announced it has been funded by The MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard, to launch a financial inclusion programme in Ivory Coast, Madagascar and Senegal. Continue reading
Three Dutch institutions, development bank Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Algemene Bank Nederland (ABN) Amro, and fund manager Privium, recently announced the opening of the FMO Privium Impact Fund. Continue reading
Developpement international Desjardins (DiD), a nonprofit unit of Canada’s cooperative Desjardins Group that promotes financial services in developing countries, recently partnered with Kafo Jiginew, a microfinance institution in Mali, to help it introduce a savings plan intended to address the fact that small-scale farmers often run out of funds between harvest and planting time. Continue reading
Christoph Pausch serves as Executive Secretary of the European Microfinance Platform (e-MFP). The European Microfinance Award is jointly organised by the Luxembourg Ministry of Foreign and European Affairs, e-MFP and the Inclusive Finance Network Luxembourg. For more details, please visit http://www.european-microfinance-award.com.
MicroCapital: Why is education access the topic of this year’s Award?
Christoph Pausch: Education is the strongest predictor of economic
well-being, and it can also have a major impact on health, women’s empowerment and even population growth. Unfortunately, Continue reading
The European Investment Bank (EIB), the long-term lending institution of the European Union (EU), recently pledged to create a venture capital scheme to support microfinance institutions and microfinance investment vehicles operating in the Middle East and North Africa within the next four months. Continue reading
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it has loaned USD 60 million to Burgan Bank A.S., the Turkish subsidiary of Kuwait’s Burgan Bank Group. Continue reading
“Guidance on the Application of the Core Principles for Effective Banking Supervision to the Regulation and Supervision of Institutions Relevant to Financial Inclusion”, published by the Basel Committee on Banking Supervision, December 2015, 55 pages, available at http://www.bis.org/bcbs/publ/d351.pdf Continue reading
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced it has loaned Fibabanka, a Turkish commercial bank, EUR 20 million (approximately USD 22 million) to finance micro- and small enterprises (MSEs) working in the Turkish agricultural sector. Continue reading
ResponsAbility Investments AG, a Swiss company specializing in investments in areas such as fair trade, recently informed MicroCapital that it has agreed to loan USD 15 million to Trustco Group Holdings Limited (Trustco), a company based in Windhoek, Namibia, that specializes in microfinance, micro-insurance and financial education. Continue reading
June 1 is the deadline to apply for the seventh European Microfinance Award, which is themed “Microfinance and Access to Education” and includes the opportunity to win EUR 100,000 (approximately USD 114,000). Continue reading
International Finance Corporation (IFC), a member of the World Bank Group, recently loaned USD 25 million to First National Bank Zambia (FNB Zambia), a subsidiary of FirstRand Group South Africa. Continue reading
The International Finance Corporation (IFC), a member of the World Bank Group, recently invested USD 6 million in debt and USD 1.5 million in equity in Maha Agriculture Public Company Limited, a microfinance subsidiary of Myanma Awba Group <http://www.awba-group.com/>, an agrochemical fertilizer company in Myanmar. Continue reading
The International Finance Corporation (IFC), a member of the World Bank Group, recently loaned PEN 167.6 million (approximately USD 50 million) to Mibanco, a Peruvian microfinance institution (MFI). Continue reading
The Global Impact Investing Network (GIIN), a nonprofit organization dedicated to increasing the effectiveness of investments intended to solve social and environmental problems, recently announced it launched an updated version of the Impact Reporting and Investment Standards (IRIS), a free tool intended to support the transparency, credibility and accountability of impact measurement. Continue reading