Category: Latin America

MICROCAPITAL BRIEF: CAF (Andean Development Corporation) Implements $5m Local-Currency Financing Program for MSME Sector in Bolivia

CAF (Andean Development Corporation) recently announced the implementation of a local-currency financing program in the amount of BOB 35 million (USD 5 million) for the micro-, small and medium-sized enterprise (MSME) sector in Bolivia, provided from CAF to support microfinance institutions with medium-term (up to three years) loans in local currency. Continue reading

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MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) to Provide $5m Partial Credit Guarantee to Mexican Microfinance Institution Agrofinanzas for Supply Chain Financing

The Inter-American Development Bank (IDB), a US-based multilateral finance institution serving Latin America and the Caribbean, will be providing a partial credit guarantee of up to USD 5 million to Agrofinanzas, a Mexican microfinance institution focused on supply chain financing, to support small Mexican sunflower producers. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) to Provide $5m Partial Credit Guarantee to Mexican Microfinance Institution Agrofinanzas for Supply Chain Financing Posted in Latin America

MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases “Latin America and the Caribbean Benchmarks 2009”

The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released “Latin America and the Caribbean Benchmarks 2009” which compares performance indicators for microfinance institutions in Latin America and the Caribbean. Continue reading

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MICROCAPITAL BRIEF: responsAbility Microfinanz-Fonds and responsAbility Global Microfinance Fund Invest $3.8m in Microfinance Institutions Fondo de Desarrollo Comunal of Bolivia (Fondeco), Fundación para el Desarrollo Microempresarial of Ecuador (D-Miro) and Consejo de Asistencia al Microemprendedor (CAME) of Mexico

responsAbility Microfinanz-Fonds and responsAbility Global Microfinance Fund (rAGMF), microfinance investment vehicles managed by responsAbility Social Investments AG of Switzerland, recently reported to MicroCapital the details of five debt investments made during the month of July 2010, totaling the equivalent of USD 3.77 million. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Microfinanz-Fonds and responsAbility Global Microfinance Fund Invest $3.8m in Microfinance Institutions Fondo de Desarrollo Comunal of Bolivia (Fondeco), Fundación para el Desarrollo Microempresarial of Ecuador (D-Miro) and Consejo de Asistencia al Microemprendedor (CAME) of Mexico Posted in Deals, Investment Funds, Key Players, Latin America

MICROCAPITAL BRIEF: Bankers Without Borders (BwB) Receives $150,000 in Seed Capital for Alliance Program from JP Morgan’s Social Finance Unit

Bankers without Borders (BwB), a volunteer program started in 2008 by the Grameen Foundation that supports microfinance and technology initiatives related to finance in poor countries, has received an investment of USD 150,000 in seed capital from JP Morgan’s Social Finance Unit to expand its services in the Americas and Asia as the “Alliance Program.” Continue reading

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MICROCAPITAL EVENT: Transparent Pricing Initiative in Colombia on September 1-2, 2010, in Bogota and Medellin, Hosted by Microfinance Transparency

Event Name: Microfinance Transparency’s (MFTransparency’s) Transparent Pricing Initiative in Colombia

Event Date: September 1 and September 2, 2010 Continue reading

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Written by Comments Off on MICROCAPITAL EVENT: Transparent Pricing Initiative in Colombia on September 1-2, 2010, in Bogota and Medellin, Hosted by Microfinance Transparency Posted in Events, Latin America, Transparency

MICROCAPITAL BRIEF: Peruvian Microfinance Institution (MFI) Mibanco Receives $45m Syndicated Loan from Inter-American Development Bank (IDB), BlueOrchard, Oikocredit, the Calvert Foundation and Societe de Promotion et de Participation pour la Cooperation Economique (PROPARCO)

Peruvian microfinance institution (MFI), Mibanco, has received a loan package of USD 45 million, arranged by Inter-American Development Bank (IDB), allowing it to create a new credit program, Crecer Mi Negocio, which targets women entrepreneurs. The program will help finance medium-term loans ranging from a few hundred dollars up to USD 3,000 for the purchase of new fixed assets or otherwise financing existing businesses. The precise range of maturities indicated ‘medium-term’ has not been released to date. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Peruvian Microfinance Institution (MFI) Mibanco Receives $45m Syndicated Loan from Inter-American Development Bank (IDB), BlueOrchard, Oikocredit, the Calvert Foundation and Societe de Promotion et de Participation pour la Cooperation Economique (PROPARCO) Posted in Deals, Latin America

MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Approves $150m to Strengthen Microfinance Institutions (MFIs) and Small Business Projects in Latin America and the Caribbean

The Inter-American Development Bank’s (IDB’s) Board of Executive Directors approved a loan and guarantees singular facility of USD 150 million to strengthen financial institutions in Latin America and the Caribbean to boost long-term financing to small business projects deemed to have a high social impact. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Approves $150m to Strengthen Microfinance Institutions (MFIs) and Small Business Projects in Latin America and the Caribbean Posted in Deals, Latin America

MICROCAPITAL BRIEF: Andean Development Corporation (CAF) Approves $5m Line of Credit for Caja Rural de Ahorro y Credito (CRAC) Nuestra Gente to Support Micro and Small Enterprises in Peru

The Andean Development Corporation (CAF), a multilateral financial institution working across Latin America, has approved a USD 5 million line of credit for Caja Rural de Ahorro y Credito (CRAC) Nuestra Gente, a microfinance institution in Peru, to finance micro- and small enterprises in Peru. According to Eleonora Silva Pardo, the director of CAF in Peru, the granting of this line of credit is part of CAF’s goal of improving support for the micro- and small enterprise sector in all of Latin America. Continue reading

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MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Arranges $135m Syndication for Banco Fibra of Brazil in Cooperation with Banco Itau Europa and Banco Santander

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently arranged USD 135 million in syndicated lending for Banco Fibra, a Brazilian bank that reported 2009 total assets of BRL 11.8 billion (USD 6.7 billion). The IFC, a 7.9 percent stakeholder in Banco Fibra, raised much of the funds through Banco Itau Europa of Portugal and Banco Santander of Spain. Through this deal, Banco Fibra aims to expand its services for small and medium-sized enterprises (SMEs) in Brazil. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Arranges $135m Syndication for Banco Fibra of Brazil in Cooperation with Banco Itau Europa and Banco Santander Posted in Deals, Latin America

MICROCAPITAL BRIEF: Mexican Microfinance Institution (MFI) Banco Compartamos Releases Non-Audited Financial Results for Second Quarter 2010 Reporting Significant Growth

Mexican microfinance institution (MFI), Banco Compartamos, has announced its non-audited financial results for the quarter ended June 30, 2010 (2Q10). All figures were reportedly prepared in accordance with the requirements of the Comision Nacional Bancaria y de Valores (CNBV) and are expressed in nominal pesos.

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MICROFINANCE PAPER WRAP-UP: A Business to Call Her Own: Identifying, Analyzing and Overcoming Constraints to Women’s Small Businesses in Latin America and the Caribbean, by Jennifer Powers and Barbara Magnoni, Published by the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB)

By Jennifer Powers and Barbara Magnoni of EA Consultants, Published by the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB), April 2010, 100 pages, available at: http://idbdocs.iadb.org/wsdocs/getDocument.aspx?DOCNUM=35282406

The authors of this study focused on the differences between male and female entrepreneurs in six countries in Latin America: Guatemala, Nicaragua, Colombia, Bolivia, Mexico and Peru. Continue reading

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MICROCAPITAL BRIEF: Oikocredit Invests $4.7m in Bolivian Microfinance Institutions (MFIs); CIDRE (Centro de Investigacion y Desarrollo Regional), CRECER (Credito con Educacion Rural), FUBODE (Bolivian Development Foundation) and Diaconia FRIF (Fondo Rotativo de Inversion y Fomento)

Oikocredit, a microfinance investment fund in the Netherlands with total assets of USD 665 million, recently loaned a total of USD 4.7 million to four Bolivian microfinance institutions (MFIs). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Oikocredit Invests $4.7m in Bolivian Microfinance Institutions (MFIs); CIDRE (Centro de Investigacion y Desarrollo Regional), CRECER (Credito con Educacion Rural), FUBODE (Bolivian Development Foundation) and Diaconia FRIF (Fondo Rotativo de Inversion y Fomento) Posted in Deals, Latin America

MICROCAPITAL BRIEF: Oikocredit Invests $3.4m in Latin American Microfinance Institutions (MFIs) Contactar (Corporacion Narino Empresa y Futuro) in Colombia, PADECOMSMCREDITO (Sociedad Cooperativa Patronato para el Desarrollo de las Comunidades de Morazon y San Miguel Credito) in El Salvador and Banco Itapua in Paraguay

Oikocredit, a microfinance investment fund in the Netherlands with total assets of USD 665 million, recently loaned approximately USD 3.46 million to three Latin American microfinance institutions (MFIs). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Oikocredit Invests $3.4m in Latin American Microfinance Institutions (MFIs) Contactar (Corporacion Narino Empresa y Futuro) in Colombia, PADECOMSMCREDITO (Sociedad Cooperativa Patronato para el Desarrollo de las Comunidades de Morazon y San Miguel Credito) in El Salvador and Banco Itapua in Paraguay Posted in Deals, Latin America

MICROCAPITAL BRIEF: The Association of Microfinance Institutions of Peru (ASOMIF Peru) Credit Portfolio Up 19 Percent from 2009

The Association of Microfinance Institutions of Peru (ASOMIF Peru), a network of 23 microfinance institutions (MFIs) in Peru, has reported that as of April 2010, the country’s credit portfolio for microfinance institutions (MFIs) was USD 5.9 billion, up 19 percent from April 2009. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: The Association of Microfinance Institutions of Peru (ASOMIF Peru) Credit Portfolio Up 19 Percent from 2009 Posted in Latin America, Transparency

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Provides $30m Guaranteed by Remittances to Fedecredito in El Salvador

The International Finance Corporation (IFC), a member of the World Bank Group, will provide USD 30 million of debt financing to Fedecredito, a Salvadoran financial cooperative owned by 55 financial institutions, which will be guaranteed by future cash flows of remittances sent by Salvadorans working abroad to family and friends at home. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation (IFC) Provides $30m Guaranteed by Remittances to Fedecredito in El Salvador Posted in Latin America

MICROFINANCE EVENT: Red Centroamericana de Microfinanzas (REDCAMIF) Hosts the Fifth Central American Microfinance Conference in San Jose, Costa Rica, August 25 to August 27, 2010

Event Name: V Central American Microfinance Conference ‘Crisis: Lessons Learned and New Strategies’ Continue reading

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Written by Comments Off on MICROFINANCE EVENT: Red Centroamericana de Microfinanzas (REDCAMIF) Hosts the Fifth Central American Microfinance Conference in San Jose, Costa Rica, August 25 to August 27, 2010 Posted in Events, Key Players, Latin America

MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Invest $1.09m in Microfinance Institutions (MFIs) Apoyo Integral in El Salvador and Forjadores Negocios in Mexico

responsAbility, a Swiss microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has executed debt investments totaling the equivalent of nearly USD 1.1 million in microfinance institutions (MFIs) in El Salvador and Mexico. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Invest $1.09m in Microfinance Institutions (MFIs) Apoyo Integral in El Salvador and Forjadores Negocios in Mexico Posted in Deals, Latin America