Category: Key Players

MICROCAPITAL BRIEF: Grameen Foundation, USAID Issue $1m Guarantee to Microfinance Institution Proempresa of Peru

Grameen Foundation, a US-based nonprofit organization that aims to help microfinance institutions (MFIs) replicate Grameen Bank’s joint-liability lending model, and the United States Agency for International Development (USAID), a government agency that provides economic and humanitarian assistance, have issued a USD 1 million joint guarantee to support Proempresa, a Peru-based MFI. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Guarantees Half of $2.7m From Standard Chartered Bank to Mitra Bisnis Keluarga (MBK) Ventura of Indonesia

The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued an IDR 12.5 billion (USD 1.4 million) guarantee to Mitra Bisnis Keluarga (MBK) Ventura, an Indonesian microfinance institution (MFI), via a stand-by letter of credit through Credit Agricole Corporate and Investment Banking (CA-CIB), the investment banking arm of Credit Agricole Group. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $25m to Banco BBVA Panama

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, will provide a five-year credit line of USD 25 million to Banco BBVA Panama to expand its lending to farmers and small and medium-sized enterprises (SMEs) with the aim of promoting regional economic integration. Continue reading

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MICROCAPITAL BRIEF: Small Industries Development Bank of India (SIDBI) Requires SKS Microfinance to Lend Only Outside Andhra Pradesh

Small Industries Development Bank of India (SIDBI), a governmental loan wholesaler to microfinance institutions (MFIs) in India, has reportedly required that SKS Microfinance Limited (SKS), an Indian MFI, use proceeds of a recent SIDBI loan for on-lending outside of the state of Andhra Pradesh [1]. Continue reading

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MICROCAPITAL BRIEF: Singapore Totalisator Board, POSBank, Social Enterprise Hub Launch $4m MicroCredit Business Scheme (MCBS)

With seed capital of SGD 5 million (USD 3.96 million) from the Singapore Totalisator Board, a quasi-governmental gaming commission also known as the Tote Board, POSBank (POSB), a commercial bank in Singapore, and Social Enterprise Hub, an incubator of social enterprises in Singapore, have launched the MicroCredit Business Scheme (MCBS) to provide loans to citizens of Singapore with annual incomes lower than SGD 30,000 (USD 23,800). Continue reading

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MICROCAPITAL BRIEF: Triodos, Women’s World Banking to Co-Manage $30m Isis Microfinance Fund

Triodos Investment Management, which manages funds that invest in venture capital and social finance, has announced that it will act as co-investment manager alongside Women’s World Banking Asset Management for Isis Fund, an equity fund that aims to increase access to finance for women around the world. Continue reading

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MICROCAPITAL BRIEF: Federación de Nacional de Cooperativas de Ahorro y Crédito (FENACOAC), World Council of Credit Unions (WOCCU) Support Microfinance in Guatemala, Mexico with $4m Rural Technology Cooperative Program

The World Council of Credit Unions (WOCCU), a US-based trade association for credit unions in 51 countries, and Federación de Nacional de Cooperativas de Ahorro y Crédito (FENACOAC), an association of credit unions and cooperatives in Guatemala, is using technology to assist rural farmers in Guatamala and Mexico in achieving financial stability. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), KfW Bankengruppe, German Federal Ministry of Economic Cooperation and Development (BMZ) to Invest $100m in Micro Finance Initiative for Asia (MIFA)

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly plans to set up the Micro Finance Initiative for Asia (MIFA), a Luxembourg-based USD 100 million microfinance debt fund. Continue reading

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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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