Category: Latin America

MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $12m to Microfinance Institutions (MFIs) in Asia, Latin America, Tanzania

During the month of June 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 12 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Cambodia, India, Nicaragua, Peru, the Philippines, Sri Lanka and Tanzania. USD 1 million of this total was invested in Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Funds Loan $9.6m to Microfinance Institutions (MFIs) in Bolivia, Cambodia, Columbia, Ecuador, India, Indonesia, Paraguay, Zimbabwe

During April 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 9.6 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Bolivia, Cambodia, Columbia, Ecuador, India, Indonesia, Paraguay and Zimbabwe. USD 2 million of this total was invested in an MFI based in Phnom Penh, Cambodia, which has 181 service points and provides financial services to clients in rural regions of the country. Financial information on the organization is not available. Continue reading

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MICROCAPITAL BRIEF: IDB Approves $120m Loan for Chile for Factoring, Cooperatives, Leasing for MSMEs

The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently approved a loan of USD 120 million to the Chilean government to finance the development of micro-, small, and medium-sized enterprises (MSMEs). The loan is divided into three parts: (1) USD 50 million for factoring to “fund eligible entities that neither belong to nor are associated with banks”; (2) USD 50 million to lend to “eligible Savings and Lending Cooperatives”; and (3) USD 20 million for “eligible leasing companies that neither belong to nor are associated with a bank to help them finance MSMEs…” Factoring is a process whereby a company sells future goods or services at a discount in return for immediate cash. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: IDB Approves $120m Loan for Chile for Factoring, Cooperatives, Leasing for MSMEs Posted in Latin America

MICROCAPITAL BRIEF: Brazil’s CODEFAT Announces $1.4b Credit Line PROGER Urbano–Capital de Giro for Micro-, Small Businesses

The Conselho Deliberativo do Fundo de Amparo ao Trabalhador (CODEFAT, translated as Deliberative Council of the Worker Support Fund), a unit of the Brazilian government, recently announced a line of credit totalling BRL 5 billion (approximately USD 1.4 billion) to be made available as working capital for companies earning annual gross revenues of up to BRL 3.6 million (approximately USD 1 million). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Brazil’s CODEFAT Announces $1.4b Credit Line PROGER Urbano–Capital de Giro for Micro-, Small Businesses Posted in Latin America

MICROCAPITAL BRIEF: MoneyGram, Millicom’s Tigo Money Launch Mobile Cash Service in El Salvador

MoneyGram International, a US-based money transfer company, recently partnered with Tigo Money, the primary product of the Sweden-based telecommunications company Millicom, to “launch mobile cash receiv[ing] services into more than 1 million Tigo Money mobile wallets in El Salvador.” Tigo Money is available in 17 countries in Africa and Latin America, providing mobile money services such as bill payment, money transfer, mobile phone credit top up and merchant payments. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: MoneyGram, Millicom’s Tigo Money Launch Mobile Cash Service in El Salvador Posted in Latin America

MICROFINANCE PUBLICATION ROUND-UP: Improving Financial Capability in India, Mexico; Mobile Money Usage; Post-Disaster, Post-Conflict Microfinance

A Change in Behavior: Innovations in Financial Capability;” by J. Arnold, E. Rhyne; published by the Center for Financial Inclusion at Accion, JPMorgan Chase & Co; April 2016; 47 pages; available at: https://centerforfinancialinclusionblog.files.wordpress.com/2016/04/a-change-in-behavior-final.pdf Continue reading

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MICROCAPITAL BRIEF: Cignifi, Equifax to Generate Credit Scores Based on Mobile Phone Usage in Latin America

Cignifi, a US-based provider of information technology, and Equifax, a US-based consumer credit reporting agency, recently announced a “multi-year partnership” to offer credit scores in Latin America. Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Funds Loan $1.5m to Microfinance Institutions (MFIs) in Costa Rica, Moldova

During March 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 1.5 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Costa Rica and Moldova. Continue reading

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MICROCAPITAL BRIEF: Afluenta Raises $8m in Series B Equity Funding from International Finance Corporation, Elevar for Peer-to-Peer Lending in Latin America

Afluenta, an Argentina-based peer-to-peer (P2P) lending platform, recently announced it closed a series B funding round totaling USD 8 million from the International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, and Elevar Equity, a “development-focused” private equity fund based in India. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: MFI Client Satisfaction and Consumer Protection in Peru; Mobile Microfinance Users Predicted to Triple by 2020; Mobilizing Savings Through Agency Banking

“Voice of the Client: An analysis of client satisfaction and consumer protection across four microfinance institutions in Peru,” by J. Foelster, A. Pierantozzi, M. Pistelli; published by the Microfinance Information Exchange (MIX) in collaboration with Hivos People Unlimited; February 2016; 31 pages; available at: http://www.themix.org/sites/default/files/Voice%20of%20the%20Client%20Peru_0.pdf Continue reading

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MICROCAPITAL BRIEF: CAF Development Bank of Latin America to Promote Billetera Movil (BIM) of Asociacion de Bancos del Peru (ASBANC)

CAF Development Bank of Latin America, a Venezuela-based multilateral financial institution formerly known as the Corporacion Andina de Fomento, recently announced that it will support the Asociacion de Bancos del Peru (ASBANC) Financial Studies Center, a Peruvian-based trade organization with 23 members, by promoting its Billetera Móvil (BIM) digital payment system through financial education and other services. Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues $16m in Bonds to Benefit China’s CFPA Microfinance Management, Honduras’ Banco Ficohsa

Symbiotics, a Switzerland-based investment company that focuses on emerging markets, recently informed MicroCapital that it completed the following bond transactions Bonds worth USD 10 million were sold to unidentified investors to benefit CFPA Microfinance Management, a microfinance institution (MFI) in China that is affiliated with the China Foundation for Poverty Alleviation. Continue reading

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MICROCAPITAL BRIEF: French Insurer AXA Ups Commitment to Microinsurance, Increasing Equity Stake in UK’s MicroEnsure to 46%

MicroEnsure, a UK-based, for-profit microinsurance company founded by US-based NGO Opportunity International, recently announced that AXA Group, a French insurance and asset management company, will pay an undisclosed sum to increase its equity stake in the organization to 46 percent from an unspecified level. Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Funds Loan $6.5m to Microfinance Institutions (MFIs) in China, Panama

During January 2016, Austria’s C-Quadrat Asset Management issued loans worth the equivalent of USD 6.5 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in China and Panama. Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Funds Loan $20m to Microfinance Institutions (MFIs) in Eurasia, Latin America, Tanzania

During December 2015, Austria’s C-Quadrat Asset Management issued loans worth the equivalent of USD 20 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Belarus, Bosnia and Herzegovina, Cambodia, Costa Rica, Ecuador, Moldova, Paraguay, Peru, Sri Lanka and Tanzania. Continue reading

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MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $11m to Banco Ademi for On-Lending to MSMEs in Dominican Republic; $139m to Caribbean Governments for Climate Finance, Energy Projects

The European Investment Bank (EIB), the long-term lending institution of the European Union (EU), recently has pledged to loan EUR 10 million (USD 10.8 million) to Banco Ademi, a banking institution in the Dominican Republic, for on-lending to micro-, small and medium-sized enterprises (MSMEs) in the country. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $11m to Banco Ademi for On-Lending to MSMEs in Dominican Republic; $139m to Caribbean Governments for Climate Finance, Energy Projects Posted in Deals, Latin America

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $10m to Banco de Ahorro y Crédito ADOPEM for On-lending to Microentrepreneurs in Dominican Republic

The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, recently announced that it will loan DOP 450 million (approximately USD 10 million) to Banco de Ahorro y Crédito ADOPEM, a microfinance institution (MFI) in the Dominican Republic that was formerly known as Asociación Dominicana para el Desarrollo de la Mujer. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $10m to Banco de Ahorro y Crédito ADOPEM for On-lending to Microentrepreneurs in Dominican Republic Posted in Deals, Key Players, Latin America