Category: Latin America

MICROCAPITAL BRIEF: European Investment Bank (EIB) to Loan $12b by 2020 to African, Caribbean, Pacific Countries for Infrastructure, Private Business, Regional Developments

The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently announced that it will loan a total of EUR 9 billion (USD 12 billion) by 2020 to institutions in Africa, Caribbean and Pacific (ACP) regions through its ACP Investment Facility, a revolving and risk-bearing fund for private sector investment. Continue reading

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MICROCAPITAL BRIEF: MicroCredit Enterprises Partners with Freedom from Hunger to offer Health-related Services to Clients of Microfinance Institutions (MFIs)

MicroCredit Enterprises (MCE), a US-based NGO microfinance fund manager, and Freedom from Hunger, a US-based NGO that aims to alleviate hunger and poverty, are collaborating on a project that will offer “health-related education, loans, savings, insurance and linkages to local healthcare providers” in hopes that it will alleviate loan defaults caused by poor health and strengthen clients’ abilities to endure income-producing activities [1]. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $1m to BancoSol of Bolivia to Support Rural Areas

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently notified MicroCapital that it will provide a loan of up to USD 1 million to Banco Solidario SA (BancoSol), a Bolivian commercial bank that offers microfinance services, in an effort to improve financial access for farmers and poor rural families in the Bolivian cities of La Paz, Oruro and Potosi [1]. Continue reading

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MICROCAPITAL BRIEF: Absolute Portfolio Management’s Dual Return Funds Invest $9.5m in Microfinance Institutions (MFIs) of Eight European, Asian, Latin American Countries

In June 2013, Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, issued loans totaling the equivalent of USD 9.5 million to microfinance institutions (MFIs) in Azerbaijan, Bosnia & Herzegovina, Cambodia, Colombia, Ecuador, Georgia, Kyrgyzstan and Poland though its two Vision Microfinance funds, Dual Return Fund- Vision Microfinance and Dual Return Fund- Vision Microfinance Local Currency Fund. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Alleviating Poverty via Mobile Communications; Integrating Microfinance, Health Services in the Andes; Mobile Phone Technology for Women in Afghanistan

Alleviating Poverty: Mobile Communications, Microfinance and Small Business Development Around the World;” by Darrell M. West; published by The Brookings Institution; May 2013; 12 pages; available at: http://www.brookings.edu/~/media/research/files/papers/2013/05/16%20poverty%20mobile%20microfinance%20business%20west/westalleviating%20povertymobile%20comms%20microfinance%20small%20business51613v12.pdf Continue reading

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MICROCAPITAL BRIEF: Fairtrade Access Fund Loans $1.8m to Coffee, Cacao, Sugar Cooperatives COAGRICSAL of Honduras, UCOSEMUN of Nicaragua, NORANDINO of Peru

The Fairtrade Access Fund (FAF), an affiliate of German NGO Fairtrade International that provides loans to farmers in developing countries, recently disbursed a total equivalent to USD 1.8 million to Cooperativa Agrícola Cafetalera San Antonio Limitada (COAGRISCAL) of Honduras, Unión de Cooperativas de Servicios Múltiples (UCOSEMUN) of Nicaragua and Cooperativas de Servicios Múltiples Norandino (NORANDINO) of Peru. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Microcredit in Mexico, Impact Investing and Microfinance, Microinsurance and Preventing Child Labor

 “Win Some Lose Some? Evidence from a Randomized Microcredit Program Placement Experiment by Compartamos Banco;” by Manuela Angelucci, Dean Karlan and Jonathan Zinman; published by Innovations for Poverty Action; May 2013; 68 pages; available at: https://poverty-action.org/sites/default/files/ipa_winsomelosesome_release_0.pdf

This paper presents an analysis of whether microcredit products are counterproductive to promoting economic empowerment, especially when such products are offered at high interest rates. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Extends $10m Loan, $8m Trade-Finance Credit Line to Banco Financiera Centroamericana (Ficensa) of Honduras for Small and Medium-Sized Businesses

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will provide a USD 10 million senior loan and a USD 8 million trade-finance credit line to Banco Financiera Centroamericana (Ficensa), a Honduran financial institution, for on-lending to small and medium-sized businesses. Continue reading

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MICROCAPITAL BRIEF: Creation Investments Social Ventures Fund II Completes Closing with $75m, Disburses Equity Investments in Grupo Finclusion of Mexico; Sonata, Grameen Koota of India

Creation Investments Social Ventures Fund II, a US-based private equity fund managed by Creation Investments Capital Management, has completed final closing with USD 75 million in committed capital. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Arranges $470m in Loans for Itau Unibanco of Brazil for Women Entrepreneurs, Funded by Bank of America, Bank of Tokyo Mitsubishi, National Bank of Abu Dhabi, Development Bank of Japan

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced it will disburse a local-currency loan equivalent to USD 470 million to Itau Unibanco, a Brazilian bank, in an effort to increase the financial inclusion of women-owned enterprises in Brazil. Continue reading

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MICROCAPITAL BRIEF: University of Texas, El Centro para la Promoción de la Micro y Pequeña Empresa en Centroamérica (CENPROMYPE), US Department of State Launch Small Business Development Center in Honduras

The University of Texas at San Antonio (UTSA) International Trade Center, a US-based trade assistance organization; El Centro para la Promoción de la Micro y Pequeña Empresa en Centroamérica (CENPROMYPE), a Central American institution focused on small-business development; and the US Department of State Pathways for Prosperity Initiative, a policy dialogue effort linking 12 Western Hemisphere countries, has launched a Small Business Development Center (SBDC) in the city of Choluteca, Honduras. Continue reading

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MICROCAPITAL BRIEF: IFC to Loan $50m to BanBif of Peru to Support Small, Medium-Sized Enterprises (SMEs)

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it would loan USD 50 million to Banco Interamericano de Finanzas (BanBif), a Peruvian commercial bank, in an effort to double the number of small and medium-sized enterprises (SMEs) served by the bank by 2017. Continue reading

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MICROCAPITAL BRIEF: Eastern Caribbean Central Bank Promotes Entrepreneurship Through 20-week Startup Design Course, Supports “Small Business Credit Guarantee Scheme”

The Eastern Caribbean Central Bank (ECCB), the monetary authority of six Caribbean nations including Antigua and Barbuda, in partnership with the Antigua Barbuda Investment (ABI) Bank, a private bank founded in 1990, recently hosted a 20-week entrepreneurship course in the country of Antigua and Barbuda aimed at helping aspiring entrepreneurs to improve their presentation and business plan development skills. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Remittances to Latin America and the Caribbean, Savings Groups Leading to Advocacy, Microinsurance in the Philippines

“Remittances to Latin America and the Caribbean in 2012: Differing Behavior Across Subregions;” by Maria Luisa Hayem; published by the Multilateral Investment Fund (MIF); 2013; 27 pages; available at http://www5.iadb.org/mif/HOME/Knowledge/tabid/426/idPublication/78709/language/en-US/Default.aspx

This report from the US-based Multilateral Investment Fund provides an analysis of remittances received across national borders by people in Latin America and the Caribbean (LAC). Continue reading

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