MICROCAPITAL BRIEF: World Bank (WB) to Loan $300m to Egypt to Promote Access to Finance for Micro- and Small Entrepreneurs

The World Bank’s (WB’s) Board of Executive Directors has approved a USD 300 million loan that aims to support an Egyptian government program to improve access to finance for micro- and small entrepreneurs in the country.

MICROCAPITAL EVENT: Association of the Luxembourg Fund Industry (ALFI) Microfinance Conference, Organized in Association with Luxembourg Fund Labelling Agency (LuxFLAG), March 25, 2010, Luxembourg

Event Name: Association of the Luxembourg Fund Industry (ALFI) Microfinance Conference

Event Date: March 25, 2010

Event Location: Chambre de Commerce, 7, Rue Alcide Gasperi, Luxembourg

Event Website: http://www.alfi.lu/index.php?id=70&tx_mjseventpro_pi1[showUid]=26&cHash=8f25d57051

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2009 Benchmarking Report on Latin America and Caribbean Region

The nonprofit Microfinance Information Exchange (MIX) has released the 2009 Latin America and Caribbean (LAC) Microfinance Analysis and Benchmarking Report in English and Spanish.

MICROCAPITAL BRIEF: XBRL International Publishes Case Study from The Microfinance Information Exchange (MIX)

XBRL International has published a case study from the nonprofit Microfinance Information Exchange (MIX) outlining MIX’s efforts to implement and develop an XBRL (eXtensible Business Reporting Language) taxonomy for microfinance.

MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases Third Annual Global Ranking of Microfinance Institutions (MFIs)

The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released its third annual ranking of microfinance institutions (MFIs), The Mix Global 100.

MEET THE BOSS: Discussions on Microfinance Investment Vehicles (MIVs) and Impact Investing: Interview with Paul DiLeo, Co-Founder and Managing Partner of Grassroots Capital

Paul DiLeo, Managing Partner at Grassroots Capital, plays a role in attracting private capital to the company, creating investment vehicles to address market gaps and raising funding to support new initiatives.  Mr. DiLeo launched and now co-manages the Global Microfinance Equity Fund and the Gray Ghost Microfinance Fund, which is a private, for-profit microfinance fund originally established to demonstrate the viability of microfinance investment.  He obtained his bachelor’s degree from the University of Massachusetts (US), has a master’s degree from Boston University (US) and completed studies in business accounting and finance at New York University (US).

MEET THE BOSS: Discussions on Microfinance Investment Vehicles (MIVs): Interview with Gil Crawford, Chief Executive Officer of MicroVest Capital Management

Mr. Crawford is Chief Executive Officer of MicroVest Capital Management, responsible for the development, management and growth of MicroVest, including developing and implementing business development strategies and supervising investment deals. He led the launch of MicroVest I, LP, a commercial private equity vehicle focused on microfinance in North America. He has over 20 years of experience with microfinance institutions (MFIs) and capital markets and has worked in Latin America, Africa and Asia. 

Previously, Mr. Crawford worked for the Latin American Financial Markets Division at the International Finance Corporation (IFC), created and ran Seed Capital Development Fund and was the Assistant Project Director for Africa Venture Capital Project. Mr. Crawford received his bank training at Chase Manhattan Bank in the mid 1980’s after working in Africa for the Red Cross and the US State Department. He graduated from Johns Hopkins University School of Advanced International Studies (SAIS) (US) in 1983 and Bates College (US) in 1980.

MICROCAPITAL BRIEF: Mexican Microfinance Institution (MFI) Financiera Independencia Closes $41m Acquisition of Financiera Finsol

Financiera Independencia, a Mexican microfinance institution (MFI) that focuses on urban lending to individuals, has closed an MXP 530 million (USD 41 million) deal to acquire Financiera Finsol, a Mexican MFI that focuses on group lending in rural areas, and three related entities: Finsol Vida, an insurance broker; Finsol, a service company; and Instituto Finsol Brazil, an MFI in Brazil.

MICROCAPITAL BRIEF: Microfinance Information Exchange Releases Benchmarking Report on Eastern Europe and Central Asia

The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released the 2009 Eastern Europe and Central Asia Microfinance Analysis and Benchmarking Report.

MEET THE BOSS: François Durollet, Managing Director of PlaNet Finance

PlaNet Finance Group is an international organization with the mission of alleviating poverty through the development of microfinance. The group consists of a non-governmental organization (NGO) called PlaNet Finance, which has historically been at the heart of the group and offers advisory and training services, as well as a set of social businesses. Among these, Planet Rating is a microfinance rating agency, PlaNIS is specialized in the structuring and management of microfinance funds, MicroCred is a microfinance holding company investing in greenfield microfinance banks and non-banking financial institutions, PlaNet Guarantee provides microinsurance and FinanCités is a venture capital company that invests in very small enterprises in French urban areas.

MICROCAPITAL BRIEF: Standard Chartered Bank Closes Its First Microfinance Deal in Philippines, $1.5m to CARD Bank

Standard Chartered has provided its first microfinance loan in the Philippines to CARD Bank, a microfinance institution (MFI) with over 205,097 active borrowers and a gross loan portfolio of USD 20.1 million as of year-end 2008.

MICROCAPITAL BRIEF: Microfinance Fund Manager Incofin Set to Raise $139m by Next Quarter

According to an article published on the Microfinance Focus website, Belgium-based microfinance fund manager Incofin Investment Management is on track to meeting its target of EUR 100 million (USD 139 million) for its second Rural Impulse Fund by next quarter.

MICROCAPITAL BRIEF: Bill & Melinda Gates Foundation Awards $6m Grant to Ecobank to Promote Low-Cost Savings Accounts in Ghana and Liberia

The Bill & Melinda Gates Foundation has provided a USD 6 million grant to Ecobank Transnational Incorporated (ETI), a pan-African bank with a network of over 500 branches in 27 countries.

MICROCAPITAL BRIEF: European Commission Works on Plan to Provide $139m in Microloans to Unemployed Youth

Mr Celestino Corbacho, the Spanish Employment Minister, recently announced that the European Commission is working on a plan to provide EUR 100 million (USD 139 million) in microloans to unemployed youth under the age of 25 and the long-term unemployed.