Category: Key Players

MICROCAPITAL BRIEF: SKS Microfinance Borrows $20m from Small Industries Development Bank of India (SIDBI), Focuses Efforts Outside Andhra Pradesh

SKS Microfinance Limited (SKS), an Indian microfinance institution (MFI), reportedly has obtained a loan of INR 1 billion (USD 20.1 million) from the government-backed Small Industries Development Bank of India (SIDBI), a loan wholesaler to MFIs in India. Continue reading

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MICROCAPITAL BRIEF: SKS Microfinance Founder Vikram Akula Says “Yunus Was Right” About Dangers of Private Investment to Microborrowers

Vikram Akula, the founder of Indian for-profit microfinance institution (MFI) SKS Microfinance Limited, reportedly acknowledged that Dr Muhammad Yunus was “right” about the challenges of “bringing private capital into social enterprise.” Continue reading

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MICROCAPITAL BRIEF: Philippine Government Promote Microinsurance With Support from Asian Development Bank (ADB)

The Philippine Department of Finance has announced that the government is “promoting micro-insurance as strategy to protect low income earners and the informal sector from uncertain events or risks” such as “typhoons, floods and earthquakes.” Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $32m to Garanti Bank Romania for Small and Medium-Sized Enterprises

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan EUR 22.5 million (USD 32.3 million) to the Romanian branch of Garanti Bank “to help finance small and medium businesses in Romania, especially those owned or managed by women entrepreneurs.” Continue reading

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MICROCAPITAL BRIEF: SKS Microfinance Completes Securitization Deals Totaling $122m

SKS Microfinance Limited (SKS), a non-banking finance company (NBFC) regulated by the Reserve Bank of India (RBI), reportedly has raised INR 354 crore (USD 72 million) from an undisclosed public-sector bank and INR 243 crore (USD 49.6 million) from an undisclosed source. Continue reading

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MICROCAPITAL BRIEF: Au Financiers to Establish Affordable Housing Finance Company in India

Au Financiers, a non-banking financial company in Rajasthan, India, reportedly will establish Au Housing Finance Private Limited (AHFPL), an Indian housing company, to “cater to the un-served and under-served markets, predominantly in the low income state of Rajasthan.” Continue reading

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MICROCAPITAL BRIEF: SKS Suffers $85m Loss as Norway’s Government Pension Fund – Global Buys 1% Stake

During the quarter that ended on December 31, 2011, Indian commercial microfinance institution SKS Microfinance Limited (SKS) suffered net losses of INR 4.28 billion (USD 85.3 million), 11 percent higher than net losses in the previous quarter. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), ACCION Support Swadhaar in Expanding Microfinance for Women in Urban India

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and ACCION International, a private, US-based nonprofit organization, will advise Swadhaar FinServe Private Limited (SFPL), an Indian microfinance institution, on its expansion of financial services for women in urban slums of the following Indian states: Gujarat, Madhya Pradesh, Maharashtra and Rajasthan. Continue reading

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MICROCAPITAL BRIEF: Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), Triodos Bank Launch Online “Responsible Finance” Magazine

Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Dutch development bank, has partnered with Triodos Bank, a company with branches in the Netherlands, Belgium, Germany, the United Kingdom, and Spain, to start an online magazine Upsides (www.upsides.com) focusing on responsible finance and sustainable development in emerging markets. Continue reading

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MICROCAPITAL BRIEF: “Paris Appeal for Responsible Microfinance” by Convergences 2015 Reaches 600 Signatories

Convergences 2015, a nonprofit based in France that focuses on poverty elimination, is promoting the “Paris Appeal for Responsible Microfinance” in an effort to slow the commercialization of microfinance, arguing that it is inconsistent with development and inclusive finance. Continue reading

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MICROCAPITAL BRIEF: Crowdfunding Platforms Including Peer-to-Peer Model Lead to Increased Reach, Reduced Transaction Costs in Microfinance

Crowdfunding platforms, intermediary services that act as an interface between “the public” and the “crowdfunded” project, can offer increased audience size, reduced transaction costs and decreased “legislative complexities,” reportedly says Daniela Castrataro, co-founder of UK-based social media consulting agency “twintangibles” [1]. Continue reading

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MICROCAPITAL BRIEF: United States Agency for International Development (USAID) Provides $2.71m Loan Guarantee to Cambodian Microfinance Institution Thaneakea Phum to Support Agriculture

The United States Agency for International Development (USAID) has signed a four-year agreement to provide a 50-percent guarantee on a loan of up to USD 2.71 million for Cambodian microfinance institution Thaneakea Phum (Cambodia) Limited (TPC). Sok Voeun, TPC’s chief operations officer, reportedly said that USAID “will support us in providing more loans to the agriculture sectors in the four provinces” referring to Kampong Thom, Pursat, Battambang and Siem Reap. Continue reading

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MICROCAPITAL BRIEF: Beyond Microfinance, Metafinance can Serve Communal Needs Such as Access to Clean Water, Reports Melanie Walker of Bill and Melinda Gates Foundation

In an article published in the US-based website Huffington Post, Melanie Walker of the US-based nonprofit Bill and Melinda Gates Foundation expounds the concept of “metafinance,” which is defined as the provision of financial service that “occupies the intermediary space between individual finance and large-scale municipal finance…. It enables creditworthy individuals and families to pool their discrete capacity to save or to borrow into a single loan for a communal purpose–hence the “meta” or “transcending” dimension, extending beyond and bridging existing microfinance or municipal finance paradigms” [1]. Continue reading

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