Category: Key Players

MICROCAPITAL BRIEF: Citibank Indonesia, Overseas Private Investment Corporation Share Risk on $18m Loan to Bank Andara to Support Microfinance Institutions

Citibank Indonesia, a branch of US-based financial services conglomerate Citigroup; the Overseas Private Investment Corporation (OPIC), a US–based development finance institution; and Bank Andara, an Indonesian company that provides wholesale services to microfinance institutions (MFIs) and savings services to individuals, have announced the disbursement of a USD 18.5 million term loan to finance the growth of Bank Andara’s wholesale microfinance lending. Continue reading

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MICROCAPITAL BRIEF: India’s Insurance Regulatory and Development Authority May Require Insurers to Sign Up All Poor Families Within 5 Years

The Insurance Regulatory and Development Authority (IRDA), India’s insurance regulator, recently drafted a proposal intended to achieve complete outreach to families with incomes below the poverty line. Continue reading

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MICROCAPITAL BRIEF: SKS Microfinance of India Posts Portfolio Growth of 21% Outside Andhra Pradesh; Royal Bank of Scotland, Morgan Stanley Asia Purchase Stakes as Deutsche Securities Mauritius Cashes Out

Since India’s SKS Microfinance experienced average losses per quarter of INR 2 billion (USD 37.8 million) during the year ending March 2012, the Indian microlender has been able to borrow approximately INR 10 billion (USD 189 million) from banks. Continue reading

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MICROCAPITAL BRIEF: India’s Ujjivan Raises $9m in Equity from International Finance Corporation (IFC), Netherlands Development Finance Company (FMO)

Ujjivan Financial Services, a microfinance institution (MFI) based in India, recently raised INR 450 million (USD 8.55 million) in equity capital from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group. Continue reading

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MICROCAPITAL BRIEF: 8th Annual Clinton Global Initiative: Commitments to Financial Access, Global Citizen Awards Presented

The eighth annual Clinton Global Initiative (CGI), which concluded on Wednesday, September 26, focused on the theme “Designing for Impact,” which was intended to promote the use of creativity and innovation to drive change, particularly through social investment and the empowerment of women. Approximately 150 new commitments to various projects were announced, as were progress reports for commitments made in previous years. The new commitments include: Continue reading

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MICROCAPITAL BRIEF: Absolute Portfolio Management Dual Return Fund Loans $8m to Microfinance Institutions in Azerbaijan, Cambodia, Ecuador, Indonesia, Kazakhstan, Tajikistan

Absolute Portfolio Management GmbH (APM), an Austrian investment company that specializes in microfinance, recently disbursed loans to unspecified microfinance institutions (MFIs) in Asia, Eastern Europe and South America. Continue reading

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MICROCAPITAL BRIEF: Multilateral Investment Fund, Global Partnerships to Establish $1m Health Project in Ecuador, Haiti, Honduras, Nicaragua

The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, has agreed to partner with Global Partnerships, a US-based nonprofit, to support microfinance institutions (MFIs) and cooperatives in offering health services and health education to low-income households in Ecuador, Haiti, Honduras and Nicaragua. Continue reading

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MICROCAPITAL BRIEF: MiCRO, Fonkoze of Haiti to Make Insurance Payout to Women Microentrepreneurs in Wake of Tropical Storm Isaac

Microinsurance Catastrophe Risk Organisation (MiCRO), a reinsurance company based in Barbados, is due to make a payout of an undetermined amount to Fonkoze, a Haitian microfinance institution, to help female microentrepreneurs recover from Tropical Storm Isaac, which struck the country in August. Continue reading

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MICROCAPITAL BRIEF: Inter-American Development Bank Issues Partial Credit Guarantee of $2.4m to Microfin of Uruguay

The Inter-American Development Bank (IDB), a US-based finance institution that provides funding to support small and medium-sized enterprises (SMEs) and other sectors, recently issued a partial credit guarantee of UYU 51.4 million (USD 2.41 million) to Microfin, a microfinance institution (MFI) that provides support to SMEs in Uruguay. Continue reading

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MICROCAPITAL BRIEF: Developpement international Desjardins, Desjardins Fund for Inclusive Finance Loan $1.5m to Fundacion para el Desarollo Integral Espoir of Ecuador

Fundacion para el Desarollo Integral Espoir, a nongovernmental organization (NGO) offering economic and social development services to poor female entrepreneurs in Ecuador, recently borrowed USD 1.5 million jointly from Developpement international Desjardins (DID) and Desjardins Fund for Inclusive Finance, two members of Desjardins Group, a cooperative financial institution based in Canada. Continue reading

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