Category: Key Players

MICROCAPITAL BRIEF: IFC, Cathay United Bank Loaning $50m to VPBank for SMEs in Vietnam with Support From Women Entrepreneurs Opportunity Facility

The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Cathay United Bank, a Taiwan-based commercial bank, recently announced that they will each lend USD 25 million to Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to support small businesses in Vietnam. Continue reading

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MICROCAPITAL BRIEF: Oikocredit Increases Equity Stake in Bolivian MFI Banco FIE

Oikocredit, a cooperative “social investment” fund based in Amersfoort, the Netherlands, recently increased its equity stake in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), “more than doubling” its investment in the Bolivian microfinance bank. Continue reading

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MICROCAPITAL BRIEF: EFSE, Netherlands’ Ministry of Foreign Affairs, Rabo International Advisory Services Facilitate Capacity Building Plan for FED Invest to Support Farmers, SMEs in Rural Albania

The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund focused on 16 Central Asian and Southeast European countries, in partnership with the Netherlands’ Ministry of Foreign Affairs and Rabo International Advisory Services (RIAS), a subsidiary of Netherlands-based Rabobank Group, recently announced that the EFSE Development Facility will “cover part of the costs of a multi-year capacity building plan” aimed at expanding Albania-based FED Invest’s ability to provide financial services to farmers and small and medium-sized enterprises (SMEs) in rural areas. Continue reading

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MICROCAPITAL BRIEF: European Investment Bank, World Bank Partner to “Boost MENA,” Supporting First-time Entrepreneurs in the Middle East, North Africa

The European Investment Bank (EIB), the Luxembourg-based long-term lender of the European Union (EU), and the US-based multilateral World Bank Group (WBG) recently announced a joint initiative, Boost MENA, to support “first-time entrepreneurs”, particularly women and young people, in the Middle East and North Africa (MENA). Continue reading

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MICROCAPITAL BRIEF: Tigo; UNICEF; Tanzania’s Registration, Insolvency and Trusteeship Agency to Provide Mobile Birth Registration for 200k Children in Iringa, Njombe Regions

Tigo Tanzania, a brand of Swedish telecom provider Millicom, recently announced that it will expand its partnership with the United Nations Children’s Fund (UNICEF) and the government of Tanzania’s Registration, Insolvency and Trusteeship Agency (RITA) to register and provide birth certificates to an estimated 200,000 children under the age of five in the Iringa and Njombe regions. Continue reading

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MICROCAPITAL BRIEF: International Development Research Centre, Alliance for Financial Inclusion Partnering to Promote Knowledge Sharing on Financial Inclusion

The Canadian government’s International Development and Research Centre (IDRC) and Malaysia-based Alliance for Financial Inclusion (AFI), recently signed a three-year partnership with the goal of “develop[ing] new knowledge and foster[ing] peer learning on financial inclusion” among AFI’s 123 members which include financial regulators and institutions in approximately 90 developing countries. Continue reading

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MICROCAPITAL BRIEF: ACDI/VOCA Registers “Impact” Investment Management Subsidiary AV Ventures and AV Ventures Ghana Fund

Agricultural Cooperative Development International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA), a US-based nonprofit that implements “sustainable international development” projects related to supporting entrepreneurs in developing nations, recently registered a new subsidiary, AV Ventures LLC, which is designed to build “impact” funds that invest in agricultural small and medium-sized enterprises (SMEs) in an effort to promote “more inclusive, responsible supply chains.” Continue reading

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MICROCAPITAL BRIEF: Kenyan Government Caps Bank Lending Rates, Sets Minimum Deposit Rates

The government of Kenya recently passed legislation to cap the interest rates on bank loans at 4 percent per year above an undisclosed benchmark reference rate and also set the minimum deposit interest rate at 70 percent of the reference rate. Continue reading

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MICROCAPITAL BRIEF: FMO Provides $10m Credit Facility to Agrofértil of Paraguay for Agricultural Input Financing

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it has provided a “medium-term” credit facility of USD 10 million to Agrofértil, a company that provides credit, crop protection products, agricultural inputs and “agronomic services” to farmers and farmer cooperatives in Paraguay. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Correlations Between Financial, Social MFI Performance; Banking for a Better World; A Case for Partnerships Among Corporations, Social Enterprises

“Where Good Intentions Meet Good Business Practice”; by Meraj Husain and Micol Pistelli; published by the Microfinance Information Exchange (MIX); August 2016; 16 pages; available at: https://www.themix.org/sites/default/files/publications/where_good_intentions_meet_good_business_practice_mix_august_2016_final.pdf

Drawing upon Microfinance Information Exchange (MIX)’s database of financial service provider (FSP) performance indicators, the authors examine the relationship between the social and financial performance of 780 FSPs in 98 countries. Continue reading

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MICROCAPITAL BRIEF: EBRD Provides Local-currency Credit Line Worth $7m for MSMEs in Kyrgyzstan Through Kyrgyz Investment and Credit Bank

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it will provide a local-currency credit line equivalent to approximately USD 7 million for micro-, small and medium-sized enterprises (MSMEs) in Kyrgyzstan. Continue reading

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MICROCAPITAL BRIEF: EBRD, European Union Launch Agribusiness Program in Tajikistan with $2m in Local-currency for MFI Arvand

The European Union (EU) and the European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently launched the Enhanced Competitiveness of Tajik Agribusiness Programme (ECTAP), for which they are seeking to raise EUR 42 million (USD 46.5 million) to boost agricultural productivity in Tajikistan via local financial service providers. Continue reading

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MICROCAPITAL BRIEF: Goodwell Disburses Convertible Loan to “Innovative Microfinance Limited” for Expansion in Rural Ghana

Through its Goodwell Microfinance Development Company (MDC) III Fund, Goodwell Investments recently issued a convertible loan of undisclosed amount to Ghanaian microfinance institution (MFI) Innovative Microfinance Limited (IML), which provides credit, savings products, financial education, business development training and environmental advisory services to low-income individuals and microenterprises. Continue reading

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MICROFINANCE EVENT: Pan-African SME Finance Summit POSTPONED

Event Name: First Pan-African Small and Medium-Sized Enterprise (SME) Finance Summit: Accelerating Performance Through Innovation

Event Date: FORMERLY SCHEDULED FOR November 22 – November 23, 2016 NEW DATES AND LOCATION TO BE ANNOUNCED

Event Location: FORMERLY SCHEDULED FOR Radisson Blu Hotel, Elgon Road, Nairobi, Kenya NEW DATES AND LOCATION TO BE ANNOUNCED Continue reading

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MICROCAPITAL BRIEF: IFC, AFD, Goldman Sachs 10,000 Women to Guarantee $5m in SME Lending by Lebanon’s BLC Bank

The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Agence Française de Développement (AFD), the international development arm of the French government, recently launched the Middle East and North Africa (MENA) SME Risk Sharing Facility, through which the organizations will guarantee loans for small and medium-sized enterprises (SMEs), 20 percent of which are to be issued to enterprises owned and operated by women. Continue reading

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MICROCAPITAL BRIEF: Asian Development Bank, Citigroup to Facilitate Up to $100m in Local Currency Loans for MFIs in Asia

The Asian Development Bank (ADB), a 67-member development finance institution headquartered in the Philippines, and Citigroup, a financial services corporation based in the US city of New York, recently announced the intention to facilitate up to USD 100 million in local-currency loans for microfinance institutions (MFIs) in Asia under the Microfinance Risk Participation and Guarantee Program. Continue reading

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MICROCAPITAL BRIEF: JazzCash Mobile Money Users in Pakistan to Gain Access to Merchants Accepting Visa Cards

JazzCash, a mobile money service of Pakistan-based cellular phone network Mobilink, and Visa, a US-based payment technology company, recently announced that JazzCash Mobile Account customers will be able to make purchases from the millions of merchants worldwide that accept Visa payment cards, including approximately 50,000 retail outlets in Pakistan. Continue reading

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MICROCAPITAL BRIEF: Green for Growth Fund Announces $1.1m Senior Loan to Kosovar Microfinance Institution AFK to Reduce Energy Consumption in Homes, Businesses

The Green for Growth Fund (GGF), a Luxembourg-based investment vehicle that supports energy-efficiency (EE) initiatives in Eurasia and North Africa, recently announced a senior loan in the amount of EUR 1 million (USD 1.1 million) for Agjencioni për Financim në Kosovë (AFK), a non-banking microfinance institution operating in Kosovo. Continue reading

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