responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it made five investments totaling USD 5.3 million in four microfinance institutions (MFI) in Mexico and South America.
The World Council of Credit Unions (WOCCU), a US-based global trade association for credit unions, and the Federacion Nacional de Cooperativas de Ahorro y Credito (FENACOAC), an association of credit unions and cooperatives in Guatemala, have partnered to launch Mi Cooperativa (MICOOPE) Savings Guarantee Fund, a private deposit insurance institution aiming to serve FENACOAC holders of savings and share accounts in Guatemala.
Event Name: Microfinance Latin América 2011
Event Date: January 25 – January 27, 2011
Event Location: Novotel, Lima, Peru
The International Finance Corporation (IFC); the Confederación de Cámaras Industriales de los Estados Unidos Mexicanos (CONCAMIN), a group of organizations designed to promote the development of Mexico’s manufacturers and entrepreneurs; and the Instituto Tecnológico y de Estudios Superiores de Monterrey, a technological university in Monterrey, Mexico, have partnered to launch the SME Toolkit Integrapyme in Mexico, a web-based toolkit that has been used since 2006 in other countries to assist managers of micro-, small and medium-sized enterprises (MSMEs).
The Daily Finance newspaper of the US reports that Peru’s highly competitive microlending market has helped drop interest rates while increasing average loan size, which stands at USD 1,300 as of 2009, an increase from approximately USD 1,000 in 2006, according to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse.
By Isabelle Agier and Ariane Szafarz, published by Pontifical Catholic University of Rio de Janeiro and Universite Libre de Bruxelles, March 2010, 37 pages, available at: http://ssrn.com/abstract=1573872
Mexican microfinance bank Compartamos Banco recently announced that it plans to transfer its shares into the newly created holding company Compartamos SAB through an exchange offer.
Ten months after the major earthquake that rattled Haiti in January 2010, microfinance institutions (MFIs) and banks still struggle to regain clients, manage late payments and deal with increasing loan defaults. New industry regulation is also expected after requests to the government from MFIs and banks that are concerned that their clients’ money is not well-protected in case of financial institution default.
Event Name: Second Annual Microinsurance Summit Latin America
Event Date: March 28 – March 31, 2011
Event Location: Miami, Florida, USA
BlueOrchard Finance SA, a subsidiary of Switzerland-based commercial microfinance intermediary BlueOrchard, reported to MicroCapital the details of three debt investments made to microfinance institution (MFI) Nitlapan’s Credit Program Fondo de Desarrollo Local (FDL) of Nicaragua (MFI), First Allied Savings and Loans Limited (FASL), an MFI in Ghana, and the commercial AB Microfinance Bank of Nigeria.
Venezuela’s new financial infrastructure, recently approved by the National Assembly, will replace the General Law on Banks and establish universal banking, microfinance banking and money exchange offices that will launch at an unspecified date.
Grameen Foundation, a US-based nonprofit, has announced the creation of the Alliance Program, within its Bankers Without Borders initiative, which will focus on increasing volunteerism in the microfinance and development technology sectors in Asia and Latin America.
responsAbility Social Investments AG (responsAbility), an investment manager based in Switzerland, reported to MicroCapital that it has provided a total of USD 6.5 million in debt financing to COAC Progreso, Pagasa and Vision Banco.
The Vice President of the Economic Commission of the National Assembly of Nicaragua, Freddy Torres, reportedly warned Nicaragua’s citizens in November 2010 that the country may lose up to USD 400 million if a microfinance law promoting regulation is not approved before year’s end.
responsAbility Social Investments AG (responsAbility), an investment manager founded in 2003 in Switzerland, reported to MicroCapital that it made three debt investments totaling USD 4.3 million in microfinance institutions (MFIs) Caja Municipal de Ahorro y Crédito (CMAC) Ica, Proempresa, and Asociación de Comités de Productores Agropecuarios (ACOPAGRO), all of Peru.
BlueOrchard Finance SA, a subsidiary of Switzerland-based commercial microfinance intermediary BlueOrchard, recently reported to MicroCapital the details of four debt investments made during the month of September 2010 to microfinance institutions (MFIs) Caja Municipal de Ahorro y Crédito (CMAC) Ica and Crear Arequipa of Peru, the Bolivian operations of Pro Mujer and Fundación para el Desarrollo Socioeconómico Rural (FUNDESER) of Nicaragua.
By Symbiotics, published by CGAP (Consultative Group to Assist the Poor), August 2010, 42 pages, available at:
CGAP (Consultative Group to Assist the Poor) has recently published its fourth annual survey of microfinance vehicles (MIVs) offering two levels of analysis: (1) key market trends from 90 microfinance investment intermediaries (MII) and (2) market data, benchmarks and performance analysis of 73 MIVs, a sub-group of the MIIs, organized into six peer groups.
The Clinton Bush Haiti Fund (CBHF), a disaster relief organization founded to alleviate the effects of the 2010 Haiti earthquake, has announced the release of approximately USD 1.5 million in grants to Fonkoze, a microfinance institution established in 1995 in Haiti, and Les Centres Gheskio (Gheskio), an NGO established in 1982 to fight fatal diseases in Haiti.