Category: Latin America

MICROCAPITAL BRIEF: ACCION International Gets Green Light from Brazil’s President to Launch New Microfinance Organization in Amazonas

ACCION International recently announced that Brazilian President Luiz Inacio Lula da Silva has approved its application to establish ACCION Microfinancas, a new microfinance organization in Amazonas, a state in northern Brazil. Continue reading

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MICROCAPITAL BRIEF: US Government Facilitates $2m Cash Transfer to Haitian Microfinance Institution (MFI) Fonkoze

The US government has facilitated a USD 2 million transfer in reserves from City National Bank of New Jersey (CNB) to 34 branches of Fonkoze, a Haitian microfinance institution (MFI) that had been running low on cash since the January 12 earthquake. Continue reading

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MICROCAPITAL EVENT: Mobile Money Transfer (MMT) Americas Conference and Expo, March 8 – March 11, 2010, Cancun, Mexico

Event Name: Mobile Money Transfer (MMT) Americas Conference and Expo

Event Date: March 8 – March 11, 2010

Event Location: Cancun, Mexico

Event Website: http://www.mobile-money-transfer.com/americas

See Our Comprehensive Event Calendar Here:
http://microfinanceassociation.ning.com/events Continue reading

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MICROCAPITAL BRIEF: Mr Richard Rosenberg of CGAP (Consultative Group to Assist the Poor) Examines Effectiveness of Microcredit as Doubts Grow

In a recently published article by CGAP (Consultative Group to Assist the Poor) entitled, ‘Does Microcredit Really Help Poor People,’ Mr Richard Rosenberg examines the scrutiny surrounding the effectiveness of microcredit in alleviating poverty. Continue reading

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KNOW A MICROFINANCE REGULATOR: Regulators of Microfinance in Ethiopia, Ghana, El Salvador and Jamaica

The following regulators are profiled in this brief: 

 
 
El Salvador – Financial System Superintendency (Superintendencia del Sistema Financiero) (SSF), located at: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Financial+System+Superintendency+%28Superintendencia+del+Sistema+Financiero%29+%28SSF%29
 
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MICROCAPITAL BRIEF: The Andean Development Corporation (CAF) Approves USD 400,000 Investment in the Investment Corporation for Microfinance in Central America and the Caribbean (SICSA) to Provide Finance for Microfinance Institutions (MFIs)

The Andean Development Corporation (CAF), a multilateral financial institution, has approved a USD 400,000 investment in the Investment Corporation for Microfinance in Central America and the Caribbean (SICSA), a microfinance fund that aims to improve the “institutional capacity” of microfinance institutions (MFIs) [1]. Continue reading

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MICROFINANCE PAPER WRAP-UP: Climate Change and Microfinance by Asif Dowla

Written by Asif Dowla, published by Grameen Foundation and Oxfam America in November 2009, 39 pages, available at: http://www.oxfamamerica.org/press/pressreleases/grameen-foundation-and-oxfam-america-release-new-report-on-climate-change-and-microfinance Continue reading

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MICROCAPITAL BRIEF: Grupo Fortaleza Places $17.9m Closed-End Fund on Bolivian Stock Exchange to Finance Small Microfinance Institutions (MFIs)

Grupo Fortaleza, a Bolivian financial services company that caters to small and medium enterprises (SMEs), has placed a BOB 125 million (USD 17.9 million) closed-end fund on the Bolivian stock exchange (Bolsa Boliviana de Valores) with the purpose of financing small microfinance institutions (MFIs). Continue reading

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MICROFINANCE EVENT: FWA 23rd International Business Conference by Financial Women’s Association in San Jose, Costa Rica, March 7-14, 2010

Event Name: FWA International Business Conference 2010

Event Description: This week-long conference includes lectures, panel discussions, and networking opportunities with key government officials and including Costa Rican President and Nobel Peace Prize Laureate, Oscar Arias. The conference is intended for business development officials interested in microfinance, global issues regarding the environment, education, as well as the role of women in economic development. Continue reading

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MICROCAPITAL BRIEF: The Inter-American Development Bank (IDB) Approves $10m Credit Guarantee for Banco de Crédito e Inversiones (BCI), a Commercial Bank in Chile, for Lending to 80,000 Small Entrepreneurs

The Inter-American Development Bank (IDB), which provides multilateral financing in Latin America and the Caribbean, has approved a USD 10 million credit guarantee as part of a program from Banco de Crédito e Inversiones (BCI), a Chilean commercial bank, to provide loans to 80,000 small entrepreneurs [1,2,3]. The program will be carried out by BCI Nova Banca Emergente, BCI’s microfinance arm [1]. BCI will utilize credit histories and background information from some of its corporate clients that have microentrepreneurial client bases [1]. It will also utilize new management and credit technologies including electronic payments and online collection [1]. Additionally, the IDB’s Multilateral Investment Fund (MIF), an autonomous fund administered by the IDB, has provided a USD 600,000 grant to BCI to support training for lending staff [1]. The program will focus on Santiago, the Chilean capital, where an estimated one million people are unbanked [1]. Continue reading

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MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) to Provide $10m Loan to Mibanco of Peru to Help Launch Microfinance Product

As part of its Opportunities for the Majority initiative, the Inter-American Development Bank (IDB) will provide USD 10 million to Mibanco, a Peruvian microfinance institution with a gross loan portfolio equivalent to USD 781 million, according to the MIX Market, the microfinance information clearinghouse. The loan is expected to help Mibanco launch a financial product called Crecer Mi Negocio (To Grow My Business), which will provide women entrepreneurs with medium term investment loans averaging USD 2,000 to USD 3,000. Continue reading

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MICROCAPITAL BRIEF: Eton Park Capital Management Announces Plans to Invest $54.5m in Mexican Microfinance Institution Financiera Independencia

Eton Park Capital Management and Financiera Independencia (FI), a Mexican microfinance institution (MFI), have signed an agreement by which Eton Park will subscribe for 70 million shares of FI for MXN 700 million (USD 54.5 million). Continue reading

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