Category: Latin America

MICROCAPITAL BRIEF: Quona Capital Management Raises $141m for Accion Frontier Inclusion Fund

Quona Capital Management, an investment fund based in the US state of Washington, recently announced that it had raised USD 141 million from investors for Accion Frontier Inclusion Fund (AFIF), a fund backed by the US-based non-profit Accion and managed by Quona Capital. Funds were contributed by US-based corporate investors including JP Morgan Chase & Co., Mastercard, AXA Impact Fund, Prudential Financial Continue reading

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MICROCAPITAL BRIEF: Whole Foods Market’s Whole Planet Foundation Raises $2.2m to Support Microfinance Institution Partnerships in 11 Countries, Including Expanding Work with Grameen America to New York, Miami

The Whole Planet Foundation, an affiliate of US-based grocer Whole Foods Market, announced it has secured donations of USD 2.2 million (as of March 17) towards its goal of raising USD 3.2 million by the end of March 2017 to grant for microlending through Continue reading

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MICROCAPITAL BRIEF: TriLinc Approves $36.8m in Term Loans, Trade Finance for SMEs in Africa, Latin America, Southeast Asia

TriLinc Global Impact Fund (TriLinc) recently announced that it has approved USD 36.8 million to fund term loans and trade finance transactions for small and medium-sized enterprises (SMEs) that operate in Africa, Latin America and Southeast Asia. The term loans will be disbursed to 10 different companies Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Funds Loan $18m in Eurasia, Latin America, Zambia

C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 17.5 million to unidentified providers of financial services in Cambodia, Continue reading

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MICROCAPITAL BRIEF: Accion Venture Lab Sells Equity Stake in Clip, Provider of Payment-card Readers to Retailers in Mexico

Accion Venture Lab, an investment vehicle of US-based NGO Accion, recently sold its stake in Clip, a company that provides Mexican businesses devices that plug in to smartphones, allowing them to accept payments via credit and debit cards. Clip, which has offices in the US and Mexico Continue reading

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MICROCAPITAL BRIEF: MicroFinanza Rating Issues 10 Institutional, Social Ratings

During February 2017, Italy-based MicroFinanza Rating issued “microfinance institutional ratings” to the following institutions, all with stable outlooks: Indonesia’s Komida, which was assigned a grade of BB; Albania’s NOA, which earned a BBB; Haiti’s ACME, which was assigned a BB+; Vietnam’s Anh Chi Em (ACE), which got a BB-; and two institutions that each received an A-, Continue reading

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MICROCAPITAL BRIEF: In Wake of 2016 Earthquake, Ecuadorean Microfinance Institution D-Miro Leveraging $2m in Equity from The Mission Alliance to Restructure $80m in Debt

Alliance Microfinance, an NGO owned by The Mission Alliance of Norway, recently committed USD 2 million in equity to assist Banco D-Miro of Ecuador in renegotiating USD 80 million in loans to achieve “reduced interest expense and extended amortization.” The Mission Alliance Continue reading

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MICROCAPITAL BRIEF: Vision Microfinance Funds Loan $9m in Ecuador, Honduras

C-Quadrat Asset Management, a unit of Austrian fund manager C-Quadrat, today informed MicroCapital that its Dual Return Vision Microfinance and Vision Microfinance-Local Currency funds extended credit totaling approximately USD 9 million to Continue reading

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MICROCAPITAL BRIEF: FMO Loans $29m to El Salvador’s Fedecredito for On-lending to Cooperatives, Bosnia and Herzegovina’s Partner Mikrokreditna Fondacija for Agricultural Microenterprises

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced two loans to support the provision of financial services to people with low incomes in El Salvador and Bosnia and Herzegovina.

FMO is lending USD 24 million to Continue reading

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MICROCAPITAL BRIEF: Colombia’s FM Bucaramanga, Ecuador’s Produbanco Borrow $12m for SMEs via Symbiotics’ Bond Platform

Switzerland-based Symbiotics SA, which specializes in micro-, small and medium-sized enterprise investment, recently issued bonds for two South American financial institutions: COP 33 billion (USD 10 million) for Colombia’s Fundación Mundial de la Mujer Bucaramanga (FMMB) and USD 2.25 million for Produbanco of Ecuador. The latter was the second of Continue reading

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MICROFINANCE EVENT: Geodata for Inclusive Finance and Food; February 16, 2017; Rotterdam, the Netherlands

Event Name: Geodata for Inclusive Finance and Food

Event Date: February 16, 2017

Event Location: Hulstkamp Gebouw, Maaskade 116, Rotterdam, the Netherlands

Cost: This event is open by invitation only.

Summary of Event: This event will address how “geodata” can be used to expand inclusive finance and food security. Continue reading

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MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Funds Loan $22m in Burkina Faso, China, Colombia, El Salvador, Paraguay, Sri Lanka

Austria’s C-Quadrat Asset Management informed MicroCapital today that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 22 million during November to unspecified microfinance institutions (MFIs) in Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues $22m in Bonds for Banco Improsa, Grupo Promerica to Benefit Costa Rican, Salvadoran SMEs

Symbiotics, a Swiss firm specializing in micro-, small and medium-sized enterprise (SME) investment, recently issued bonds for two Central American banks serving SMEs. This included bonds totaling USD 15.7 million for Inversiones Financieras Promerica, the Salvadoran unit of Grupo Promerica, which was founded in Nicaragua and now serves nine countries in Latin America and the Caribbean.

Symbiotics also issued its second tranche of 2016 for Costa Rica’s Banco Improsa in the amount of Continue reading

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MICROCAPITAL BRIEF: 16 Additional Institutions Commit to World Bank’s Goal of Achieving Universal Financial Access by 2020

The US-based multilateral World Bank Group (WBG) recently announced that 16 additional financial institutions have committed to partner to work toward “universal financial access” (UFA) by 2020, bringing the size of the group to 30 organizations. The new partners, which have committed to helping a total of 168 million people open new transaction accounts by 2020, are:

(1) the Aga Khan Agency for Microfinance, which operates in Africa, Asia and the Middle East;
(2) Ant Financial (Ali Baba Group) of China; Continue reading

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MICROCAPITAL BRIEF: Oikocredit Increases Equity Stake in Bolivian MFI Banco FIE

Oikocredit, a cooperative “social investment” fund based in Amersfoort, the Netherlands, recently increased its equity stake in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), “more than doubling” its investment in the Bolivian microfinance bank. Continue reading

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MICROCAPITAL BRIEF: FMO Provides $10m Credit Facility to Agrofértil of Paraguay for Agricultural Input Financing

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it has provided a “medium-term” credit facility of USD 10 million to Agrofértil, a company that provides credit, crop protection products, agricultural inputs and “agronomic services” to farmers and farmer cooperatives in Paraguay. Continue reading

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MICROCAPITAL BRIEF: Brazil Launches $9b Credit Line Intended to Grow Micro-, Small Enterprises

The Brazilian government recently announced a new credit line of BRL 30 billion (approximately USD 9.4 billion) for banks to fund the working capital, equipment and advisory needs of micro- and small enterprises (MSEs). Continue reading

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MICROCAPITAL BRIEF: Incofin Microfinance Funds Exit Equity Investments in Bolivia’s Banco FIE

Incofin Investment Management, a Belgium-based investment management firm focusing on microfinance institutions (MFIs) in developing countries, recently announced sales of some of its equity in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), a Bolivian bank focusing on the financially excluded, to the bank’s incumbent shareholders. Continue reading

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