Category: Key Players

MICROCAPITAL BRIEF: Pakistan’s Tameer Microfinance Bank Lists Term Finance Certificates Worth $10m on Karachi Stock Exchange

Tameer Microfinance Bank Limited (TMFB), a commercial bank in Pakistan that is majority-held by Norwegian mobile firm Telenor, recently issued two term finance certificates (TFCs) each worth PKR 500 million (USD 5 million) on the Karachi Stock Exchange (KSE) in an effort to raise capital. Continue reading

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MICROCAPITAL BRIEF: Telenor Participates in Launch of MicroEnsure Asia, Opportunity International Sells Stakes in MicroEnsure to International Finance Corporation (IFC), Omidyar Network

MicroEnsure, a microinsurance intermediary founded by US-based nonprofit Opportunity International, has partnered with Telenor Group, a Norwegian mobile communications company, to launch MicroEnsure Asia, which will provide insurance products to Telenor’s business units in Asia. Continue reading

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MICROCAPITAL BRIEF: IFC, Global Agriculture and Food Security Program Invest $10m in Root Capital for Farmers in Africa, Latin America

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the private-sector office of the Global Agriculture and Food Security Program (GAFSP), a multilateral mechanism established by the G20 group of 20 large economies, have announced that each of the organizations will invest USD 5 million in Root Capital, a US-based nonprofit social investment fund. Continue reading

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MICROCAPITAL BRIEF: India’s IFMR Capital Pools Loan Assets from 8 Microfinance Institutions, For Trading on Bombay Stock Exchange

IFMR Capital, an affiliate of the Indian nonprofit Institute for Financial Management and Research (IFMR), a private trust that aims to provide Indian enterprises with access to financial services, recently listed a securitized debt instrument on the Bombay Stock Exchange that pooled loan assets from eight microfinance institutions (MFIs). Continue reading

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MICROCAPITAL BRIEF: YouthStart Supports Opening of 40,000 Savings Accounts, Grants $640k to Faitiere des Unites Cooperatives d’Epargne et de Credit du Togo (FUCEC)

YouthStart, a program that aims to increase access to financial services for low-income youth in Sub-Saharan Africa, recently reported that approximately 40,000 young people in Burkina Faso, Ethiopia, Malawi, Rwanda, Senegal and Uganda have opened savings accounts with YouthStart’s partner institutions and deposited approximately USD 550,000 into those accounts since September 2012.

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MICROCAPITAL BRIEF: Fondazione Giordano Dell’Amore, European Microfinance Network Announce Fifth Edition of $67k Giordano Dell’Amore Microfinance Good Practices Europe Award

Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, and the European Microfinance Network, a Belgian nonprofit with 99 members, have announced the fifth annual edition of the Giordano Dell’Amore Microfinance Good Practices Europe Award, which seeks to elevate the profile of best practices among actors in the European microfinance industry. Continue reading

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MICROCAPITAL BRIEF: Thai Government to Add $2.6b to Village and Urban Revolving Fund

Thai Prime Minister Yingluck Shinawatra reportedly has announced that the government plans to inject USD 2.6 billion of capital into the country’s Village and Urban Revolving Fund (VF), a government-backed program designed to stimulate the economy. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to IMON International of Tajikistan

The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, has provided a four-year loan of TJS 29 million (USD 6.08 million) to Tajik microfinance institution (MFI) IMON International. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Regulation and Supervision of Microfinance; Financial Inclusion in Russia; Life Microinsurance in Mexico

A Guide to Regulation and Supervision of Microfinance;” by Robert Peck Christen, Kate Lauer, et al; published by CGAP (Consultative Group to Assist the Poor); October 2012; 120 pages; available at: http://www.cgap.org/publications/guide-regulation-and-supervision-microfinance Continue reading

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MICROCAPITAL BRIEF: responsAbility Social Investments Loans $1.5m to Al Majmoua (Lebanese Association for Development), $10m to Araratbank of Armenia

ResponsAbility Social Investments, a Swiss investment company, recently made a loan of USD 1.5 million to Al Majmoua, a nonprofit microcredit organization also known as the Lebanese Association for Development. Continue reading

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MICROCAPITAL BRIEF: LOLC Microcredit Limited of Sri Lanka Receives $55m Syndicated Loan Funds from FMO, OPEC Fund for International Development, PROPARCO, Cordiant Capital

Lanka Orix Leasing Company (LOLC) Micro Credit Limited, the microfinance arm of Sri Lankan financial service provider LOLC, has received a five-year syndicated loan of USD 55.5 million. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $17m to Banca Transilvania, Agricover Credit of Romania

The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle based in Luxembourg, recently disbursed approximately EUR 13 million (USD 17 million) to two Romanian financial institutions. Continue reading

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MICROCAPITAL BRIEF: ACLEDA Bank of Cambodia Borrows $40m From IFC Capitalization Fund

The IFC Capitalization Fund, a global equity and subordinated-debt fund founded by the International Finance Corporation (IFC) and the Japan Bank for International Cooperation, recently issued a subordinated loan in the amount of USD 40 million to ACLEDA Bank Plc, a retail bank based in Cambodia, to augment the bank’s financing of micro, small and medium-sized enterprises. Continue reading

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MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $32m to Garanti Leasing of Turkey to Boost Services to Micro, Small and Medium-Sized Enterprises

The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg, recently disbursed a EUR 25 million (USD 32.6 million) loan to Garanti Leasing, a subsidiary of Turkey’s Garanti Bank that provides real-estate and equipment leasing services, to aid it in serving more micro, small and medium-sized enterprises (SMEs) particularly in rural areas. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation Loans $15m to AccessBank to Aid Small Enterprises, Microentrepreneurs in Azerbaijan

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently loaned USD 15 million to AccessBank, a microfinance bank in Azerbaijan, to supplement lending to micro-small and medium sized-enterprises in the country. Continue reading

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MICROCAPITAL BRIEF: Confederation of Nepalese Industries to Establish $1m Social Business Fund

The Confederation of Nepalese Industries (CNI), a body of 50 large and medium-scale manufacturing and service sector businesses in Nepal, reportedly has promised to establish a USD 1 million social business fund over the next three years. Continue reading

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MICROCAPITAL BRIEF: Millicom, Cherie Blair Foundation for Women, US Agency for International Development Offer Financial Literacy Training, Loans to Rwandan Women to Become Tigo Mobile Money Agents

Millicom International Cellular, a Luxembourg-based telecommunications company also known as Tigo; the Cherie Blair Foundation for Women, a UK-based charity promoting women’s entrepreneurship; and the United States Agency for International Development (USAID), a US government agency that provides international economic and humanitarian assistance, have partnered to assist 4,000 women in Rwanda  to become Tigo mobile money agents. Continue reading

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