Category: Latin America

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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MICROCAPITAL BRIEF: MIF, Swiss Government Partner to Launch Social Impact Bond Fund to Improve Urban Employment in Colombia, Repayment to Be Contingent on Successful Client Outcomes

The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, is partnering with the Swiss State Secretariat of Economic Affairs (SECO) and the Colombian government’s Department for Social Prosperity (DPS) to launch a social impact bond fund aimed at increasing urban employment in Colombia. Continue reading

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MICROCAPITAL BRIEF: ResponsAbility to Loan Additional $3m to Bolivian Microfinance Institution Diaconia FRIF

ResponsAbility, a Switzerland-based asset management firm specializing in development investments, recently informed MicroCapital that it is lending an additional USD 3 million to Diaconia Fondo Rotativo de Inversion y Fomento (FRIF), a non-banking financial institution based in Bolivia. Continue reading

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MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru, the Philippines

Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru and the Philippines. Continue reading

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MICROCAPITAL BRIEF: Guatemala’s Fundación Génesis Empresarial, Pakistan’s Kashf Foundation, Opportunity Bank of Uganda Named as Finalists for Education Edition of $112k European Microfinance Award

The European Microfinance Platform (e-MFP), a network of European microfinance stakeholders working in developing countries, recently announced that three finalists for the 7th European Microfinance Award have been selected from 30 applicants: (1) Fundación Génesis Empresarial of Guatemala; (2) Kashf Foundation of Pakistan; and (3) Opportunity Bank of Uganda. Continue reading

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MICROCAPITAL BRIEF: Nicaragua’s Fabretto Acquires Grants Totaling $1.8m for Training Rural Youth from Japan Special Fund for Poverty Reduction, Multilateral Investment Fund

Fabretto, an educational NGO in Nicaragua, recently received grants from two entities managed by the US-based Inter-American Development Bank Group: (1) USD 1 million from the Japan Special Fund for Poverty Reduction (JPO), which is funded the government of Japan and; (2) USD 800,000 from the Multilateral Investment Fund (MIF), which assists organizations in Latin America and the Caribbean. Continue reading

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MICROCAPITAL BRIEF: Multilateral Investment Fund Approves $4m Equity Investment in Angel Ventures Pacific Alliance Fund for SMEs in Chile, Colombia, Mexico, Peru

The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, recently announced an equity investment USD 4 million in the newly-established Angel Ventures Pacific Alliance Fund (AVPAF), a Mexico-based venture capital fund targeting “start-up” and “scale-up” businesses in Chile, Colombia, Mexico and Peru. Continue reading

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MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in India, Kenya, Namibia, Nicaragua, Peru, Romania, Including $3m for Education Lending

Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in India, Kenya, Namibia, Nicaragua, Peru and Romania. Continue reading

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MICROCAPITAL BRIEF: Maj Invest Raising Additional $25m for Financial Inclusion Fund II for Microfinance in Bolivia, Colombia, Ecuador, Peru

Maj Invest Group, a Denmark-based asset management and private equity firm, recently announced plans to grow its Maj Invest Financial Inclusion Fund II by USD 25 million to invest in Bolivia, Colombia, Ecuador and Peru. Continue reading

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