The European Bank for Reconstruction and Development (EBRD), a multilateral development finance institution headquartered in London, has agreed to provide a local-currency loan in an amount equivalent to USD 3 million to Arnur Credit, a microfinance institution (MFI) in Kazakhstan, for on-lending to micro- and small enterprises (MSEs) in rural areas of the country. Continue Reading »

“Banking on Change: Breaking the Barriers to Financial Inclusion;” published by Plan UK, Barclays and Care International UK; January 2013; 28 pages; available at: http://www.careinternational.org.uk/research-centre/microfinance/251-banking-on-change-breaking-barriers-to-financial-inclusion Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan RUB 900 million (USD 29 million) to Center-Invest Bank, a Russian private bank, to increase lending to small and medium-sized enterprises (SMEs) in southern Russia. Continue Reading »

The Microinsurance Network, a nonprofit membership organization in Luxembourg that aims to expand access to insurance services for low-income people around the world, has stated that it expects the global microinsurance industry to double its reach by 2020 to serve 1 billion customers. Continue Reading »

The One Woman Initiative (OWI), a US-based organization that focuses on empowering women, has come under the umbrella of Opportunity International, a US-based nonprofit organization with a focus on microfinance. Continue Reading »

The Center for Financial Inclusion, a branch of US-based nonprofit Accion that promotes universal access to financial services, has released a report that suggests potential implications for financial inclusion as birthrates decrease and life expectancies increase in the developing world. Continue Reading »

The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative of the German development bank Kreditanstalt fur Wiederaufbau Entwicklungsbank that invests in financial institutions in the Middle East and North Africa, recently agreed to disburse a senior loan facility of USD 2 million to Palestine for Credit and Development, a microfinance institution (MFI) based in Palestine’s West Bank that is known as Faten in Arabic. Continue Reading »

Women Advancing Microfinance New York (WAM-NY), a chapter of WAM International, a global network that supports women in microfinance, is accepting applications through March for its 2013 scholarship program. Continue Reading »

The European Bank for Reconstruction and Development (EBRD), a multilateral development finance institution headquartered in London, and Raiffeisen Bank Aval, a subsidiary of Austria’s Raiffeisen Bank International, have partnered to issue loans to Ukrainian farmers so that they can purchase farming equipment from a third partner in the project, US-based agricultural machinery provider John Deere. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with Yes Bank, a commercial bank headquartered in Mumbai, to establish a fund to support small businesses in northeast India. Continue Reading »

Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), is reportedly seeking to increase its customer base by 1 million by 2014 and has raised INR 20 crores (USD 3.8 million) in capital from three of its investors: Aavishkaar Goodwell, a for-profit, Indian-Dutch joint venture; Lok Capital, a Mauritius-based microfinance investment vehicle; and the Housing Development Finance Corporation (HDFC), an India-based housing finance company. Continue Reading »

On January 30, 2013, Sanabel, an Egypt-based nonprofit network of microfinance institutions in Arab countries, announced Sahar Tieby as its new executive director, succeeding Ranya Abdel-Baki, Sanabel’s executive director since October 2009. Continue Reading »

The European Bank for Reconstruction and Development (EBRD), a multilateral institution based in London, England, is providing a local-currency loan equivalent to USD 5 million (approximately AMD 2 billion) to Converse Bank CJSC, a closed joint stock company in Armenia. Continue Reading »

The Joint Action to Support Microfinance Institutions (JASMINE) program, a joint initiative by the European Investment Fund, the European Parliament and the European Commission, has put out a call for expressions of interest to European microcredit providers wishing to benefit from its technical assistance program in 2013. Continue Reading »

“MILK Brief #18: Doing the Math with Property Microinsurance in Coastal Columbia;” by Barbara Magnoni and Derek Poulton; published by Microinsurance Centre; October 2012; 2 pages; available at: http://www.microinsurancecentre.org/milk-project/milk-docs/doc_details/914-condensed-milk-18-doing-the-math-with-property-microinsurance-in-coastal-colombia.html Continue Reading »

The Smart Campaign, a consumer-protection initiative launched in 2010 by US-based nonprofit Accion, recently released a Client Protection Certification Program that aims to verify that financial institutions serving the world’s poor people are focused on the fair treatment of clients. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to disburse USD 2 million to ACLEDA Bank, a Cambodia-based commercial bank, to set up a microfinance institution (MFI) in Myanmar. Continue Reading »

The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, has provided a five-year loan of EUR 1 million (USD 1.35 million) Albanian leasing company LandesLease. Continue Reading »