Category: Latin America

MICROCAPITAL BRIEF: Grupo ACP’s Forjadores de Negocios Begins Operations in Mexico as Licensed Bank Banco Forjadores

Forjadores de Negocios, a Mexican microfinance institution (MFI) majority-held by Peruvian NGO Grupo ACP, recently began operations as Banco Forjadores, having received permission from Mexican banking authorities to convert to a multiservice bank in 2012. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Curbing Debt Stress, Social Performance in Mexico, UN Human Development Report: The Rise of the South

“Regulatory Options to Curb Debt Stress;” by Gabriel Davel; published by CGAP (Consultative Group to Assist the Poor); March 2013; 29 pages; available at: http://www.cgap.org/publications/regulatory-options-curb-debt-stress

This report highlights how the dynamics of credit markets can lead to cycles of credit growth and accumulation of consumer debt followed by widespread default and contraction. Continue reading

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MICROCAPITAL BRIEF: Pro Mujer Bolivia, Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) Partner to Raise Awareness of Violence Against Women

Pro Mujer Bolivia, a branch of the US-based nonprofit Pro Mujer, recently secured unspecified support from Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ), the German Agency for Technical Cooperation, to raise awareness of violence against women among Pro Mujer employees. Continue reading

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MICROFINANCE PAPER WRAP-UP: “Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets;” published by mWomen Global Development Alliance of the Global System for Mobile Communications Association (GSMA), Visa, Bankable Frontier Associates

Published by Global System for Mobile Communications Association’s mWomen Global Development Alliance, Visa and Bankable Frontier Associates; 2013; 40 pages; available at: http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/02/GSMA-mWomen-Visa_Unlocking-the-Potential_Feb-2013.pdf

This report analyzes connections between mobile financial services and women’s financial inclusion in the developing world. Continue reading

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MICROCAPITAL BRIEF: Itau Unibanco of Brazil Commits $167m to Microloans for Urban Entrepreneurs in Concert with Business Call to Action, UN Millennium Development Goals

Brazilian bank Itau Unibanco recently joined the Business Call to Action (BCtA), a multi-organization initiative that seeks to reduce poverty through the private sector in support of the United Nations Millenium Development Goals (MDGs). Continue reading

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MICROCAPITAL BRIEF: Anne Hastings of Fonkoze Outlines Framework for National Mobile Money Systems

Anne Hastings, CEO of Haitian microfinance institution Fonkoze Financial Services, recently summarized the challenges outlined by a panel hosted by the Better Than Cash Alliance (BTC), a US-based NGO that promotes financial inclusion through mobile banking, at the World Economic Forum in Davos, Switzerland, in January 2013. The panel discussed the benefits and challenges of making the transition from cash to electronic payments. Continue reading

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MICROCAPITAL BRIEF: CAF Development Bank of Latin America, Codespa Foundation Study Possible Trust Fund for Rural Producers in Ecuador

CAF Development Bank of Latin America, a Venezuela-based multilateral financial institution that was formerly Corporacion Andino de Fomento, is partnering with Codespa Foundation, a Spanish non-governmental organization that works with poor communities in developing countries, to undertake a feasibility study for the creation of a trust fund that would provide microfinance services to small-scale producers in rural Ecuador. Continue reading

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MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) Donates $360k to Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER) of Nicaragua to Support Transition to Regulated Status Under SIBOIF

The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, recently disbursed a grant of USD 362,000 to Nicaraguan nonprofit microfinance organization Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER) to support the microlender in the process of becoming regulated by the country’s Superintendency of Banks and Other Financial Institutions, which is known by the Spanish acronym SIBOIF. Continue reading

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MICROFINANCE PAPER WRAP-UP: “Microinsurance Product Development for Microinsurance Providers;” by Michael J. McCord; published by Microfinance Centre, Microinsurance Centre, International Fund for Agricultural Development

By Michael J. McCord; published by the Microfinance Centre for Central and Eastern Europe and the New Independent States, the Microinsurance Centre and the International Fund for Agricultural Development (IFAD); 2012; 124 pages; available at: http://www.ifad.org/ruralfinance/wrmf/manual.pdf

In this manual, Mr. McCord proposes a “systematic new-product development process” for the microinsurance market. Continue reading

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MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) to Invest $2.5m in Equity in Microfinance Institution FONDESA of the Dominican Republic as it Seeks to Become a Regulated Entity

The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, reportedly has approved a USD 2.5 million equity investment in El Fondo para el Desarrollo, Inc. (FONDESA), a nonprofit microfinance institution in the Dominican Republic. The investment is intended to help FONDESA acquire status as a regulated microfinance institution under the new name Banco de Ahorro y Crédito FONDESA (BANFONDESA). Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Banking on Change Partnership for Financial Inclusion in Africa; Findings on Financial Inclusion in Nigeria; Snapshot of Microfinance in Latin America and the Caribbean

Banking on Change: Breaking the Barriers to Financial Inclusion;” published by Plan UK, Barclays and Care International UK; January 2013; 28 pages; available at: http://www.careinternational.org.uk/research-centre/microfinance/251-banking-on-change-breaking-barriers-to-financial-inclusion Continue reading

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