Category: Latin America

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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Written by Comments Off on MICROCAPITAL BRIEF: Mexican Microfinance Institution (MFI) Banco Compartamos Releases Non-Audited Financial Results for Second Quarter 2010 Reporting Significant Growth Posted in Latin America, Transparency

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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Written by Comments Off on 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) Posted in Latin America, Risks, Transparency, Trends/Challenges

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

MICROCAPITAL BRIEF: Clinton Bush Haiti Fund (CBHF) Announces $1m in New Grants to Promote Economic Opportunities Including Microfinance

The Clinton Bush Haiti Fund (CBHF), a nonprofit organization created by former US presidents Bill Clinton and George W. Bush to rebuild Haiti following the January 12 earthquake, has announced USD 1 million in new grants aimed at creating new jobs and promoting economic opportunity, including microfinance. An unspecified proportion of the grant will be used to finance the Haiti Emergency Liquidity Program (HELP), which will give recovery grants to “key” microfinance institutions (MFIs), which are defined as those having approximately 50,000 clients or more. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Implements Advisory Services Project Totaling $382,000 at Microfinance Bank, Asociacion Dominicana para el Desarrollo de la Mujer (ADOPEM), in Dominican Republic

The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with Asociacion Dominicana para el Desarrollo de la Mujer (ADOPEM), a microfinance bank in Dominican Republic, to implement an advisory services project for the institutional strengthening of the bank to enhance the financial services provided to low-income clients in the Dominican Republic. A press release from IFC states that the project will focus on improving the efficiency of the bank’s credit processes, strengthening its risk management and increasing savings mobilized. The overall amount of the project will be USD 382,000. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: International Finance Corporation (IFC) Implements Advisory Services Project Totaling $382,000 at Microfinance Bank, Asociacion Dominicana para el Desarrollo de la Mujer (ADOPEM), in Dominican Republic Posted in Latin America, Regulation

MICROCAPITAL BRIEF: Norwegian Microfinance Initiative (NMI) Global Fund to Invest $5m in Triodos Microfinance Fund

The Norwegian Microfinance Initiative (NMI), a partnership between the Norwegian public and private sectors that provides assistance for microfinance institutions (MFIs) in developing countries, has recently announced that its Global Fund will make an investment of EUR 4 million (equivalent to USD 5 million) in Triodos Microfinance Fund, a microfinance investment vehicle based in Luxembourg with total assets of USD 36.2 million. Continue reading

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MICROCAPITAL BRIEF: Germany’s Environment Ministry, KfW to Launch $500m Microfinance Fund for Climate Projects in Brazil, Asia, Africa

Germany’s Federal Environment Ministry recently announced it would be launching a USD 500 million climate fund that will provide microloans for individual energy efficiency or renewables projects initially through local banks in Brazil, China, India, Indonesia, Morocco, the Philippines and South Africa. Continue reading

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MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Disburse $72,000 to KapitalMujer and Te Creemos of Mexico

responsAbility Global Microfinance Fund, a Swiss-based microfinance investment vehicle (MIV) manager, recently reported to MicroCapital that it has provided MXN 942,000 (USD 72,000) in debt financing to two Mexican microfinance institutions (MFIs). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Mikrofinanz-Fonds Disburse $72,000 to KapitalMujer and Te Creemos of Mexico Posted in Deals, Key Players, Latin America

MICROCAPITAL BRIEF: Populist Governments Propose Interest Rate Caps and Other Public Interventions on Latin American Microfinance Institutions

Populist governments in Latin America are attempting to favor microborrowers by proposing interest rate caps and other public interventions, as is described in a recent article written by Ms Elisabeth Rhyne, managing director of the Center for Financial Inclusion at ACCION International, and published in the Huffington Post. [1] Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Populist Governments Propose Interest Rate Caps and Other Public Interventions on Latin American Microfinance Institutions Posted in Latin America

MICROFINANCE EVENT: XIII FOROMIC 2010: Inter-American Forum on Microenterprise, October 6 to 8, 2010, Montevideo, Uruguay, Sponsored by the Multilateral Investment Fund, Organized by the Inter-American Development Bank

Event Name: XIII FOROMIC 2010: Inter-American Forum on Microenterprise

Event Date: October 6 to 8, 2010

Event Location: Montevideo, Uruguay

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

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Written by Comments Off on MICROFINANCE EVENT: XIII FOROMIC 2010: Inter-American Forum on Microenterprise, October 6 to 8, 2010, Montevideo, Uruguay, Sponsored by the Multilateral Investment Fund, Organized by the Inter-American Development Bank Posted in Events, Latin America

MICROCAPITAL BRIEF: Oikocredit Lends $1.6m in Local-currency to Five Latin American Microfinance Institutions

Oikocredit, a microfinance investment fund in the Netherlands with assets of USD 665 million, recently loaned USD 1.6 million to five Latin American microfinance institutions (MFIs): Amanecer of Colombia, Coopesparta of Costa Rica, Proempresa of Peru, FINCA Peru and Norandino of Peru. Continue reading

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MICROCAPITAL BRIEF: Andean Development Corporation (CAF) and National Mutual Guarantee Fund for Small and Medium-sized Enterprises (FONPYME) Launch ‘Quality Improvement’ Project for Small and Medium-sized Enterprises in Venezuela

The Andean Development Corporation (CAF), a multilateral financial institution based in Caracas, Venezuela, together with the National Mutual Guarantee Fund for Small- and Medium-sized Enterprises (FONPYME), an organization founded by the Venezuelan government to provide financial and technical assistance to small businesses, has launched a new ‘Quality Improvement’ project within the Venezuelan government’s National Reciprocal Guarantee System (SNGR) to increase the efficiency and quality of management of micro-, small and medium-sized enterprises (MSMEs). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Andean Development Corporation (CAF) and National Mutual Guarantee Fund for Small and Medium-sized Enterprises (FONPYME) Launch ‘Quality Improvement’ Project for Small and Medium-sized Enterprises in Venezuela Posted in Key Players, Latin America, Trends/Challenges