Category: Latin America

MICROCAPITAL BRIEF: Guatmemala’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

Faberetto, 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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MICROFINANCE PUBLICATION ROUND-UP: Innovations in Building Financial Capability; BBVA Microfinance Foundation Social Performance Report; Growth, Evolving Trends in Financial Inclusion in India

“A Change in Behavior; Innovations in Financial Capability”; published by the Center for Financial Inclusion at Accion; April 2016; 47 pages; available at http://www.centerforfinancialinclusion.org/fi2020/roadmap-to-inclusion/innovations-in-financial-capability

This document describes research aimed at identifying effective interventions for building the financial capability of microfinance customers, specifically as administered by three groups: financial service providers, governments and social service providers. Continue reading

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MICROCAPITAL BRIEF: FMO, Bladex Co-Arrange $100m Loan for Banco Continental Paraguay, including $47m for On-Lending to Small, Medium-Sized Enterprises

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it has closed a USD 100 million syndicated A/B loan for Banco Continental SAECA, a commercial bank operating in Paraguay. Continue reading

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MICROCAPITAL BRIEF: VisionFund Selects BankBI’s Cloud-Based Software to Manage Microfinance Institutions in 32 Countries

VisionFund International, the microfinance arm of US-based NGO World Vision, recently selected UK-based BankBI Limited’s business intelligence and analytics software to manage its operations in 32 countries. Continue reading

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MICROCAPITAL BRIEF: IFC Issues Taino II Local-currency Bond, Raising $4m for Banco ADOPEM’s Microfinance Efforts in the Dominican Republic

The International Finance Corporation, the private-investment arm of the World Bank Group, recently issued its “Taino II” bond in the amount of DOP 180 million (USD 4 million), the proceeds of which will go to Banco de Ahorro y Crédito ADOPEM SA, a microfinance institution formerly known as Asociación Dominicana para el Desarrollo de la Mujer that is a member of the Spain-based Fundación BBVA Microfinanzas. Continue reading

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MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $34m to Microfinance Institutions (MFIs) in Latin America, South Asia

During July 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 34 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ecuador, India, Nicaragua, Paraguay and Sri Lanka. Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues Bonds Supporting SME, Rural Finance: $12m for Costa Rica’s Banco Improsa, $10m for Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, $6m for Armenia’s Armeconombank

Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds Continue reading

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MICROCAPITAL BRIEF: Developing World Markets Closes Debt Investments Totaling $8.3m in Armenia, Colombia, India, Nicaragua

Developing World Markets (DWM), a US-based asset manager and investment bank, recently announced that it issued loans in February and March 2016 to four unidentified financial institutions serving microentrepreneurs, including a Colombian bank and non-banking financial institutions (NBFIs) in Armenia, India and Nicaragua. Continue reading

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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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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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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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