Latin America | MicroCapital - Page 7
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Tuesday, December 18, 2012

MICROFINANCE EVENT: 4th Latin America Microinsurance Summit, March 18 – March 21, 2013, Mexico City, Mexico

Event Name: 4th Latin America Microinsurance Summit

Event Date: March 18 – March 21, 2013

Event Location: Sheraton Maria Isabel Hotel and Towers, Mexico City, Mexico Continue Reading »

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Tuesday, December 18, 2012

MICROCAPITAL BRIEF: Inter-American Development Bank to Allow Public to Select Programs Seeking to Improve Financial Inclusion for People with Disabilities in Latin America and the Caribbean

The Inter-American Development Bank (IDB), a US-based multilateral financial institution, recently announced a call for proposals to increase the inclusion of people with disabilities as financial sector clients and workers in Latin America and the Caribbean. The competition is open to public and private financial institutions from IDB’s 48 member countries to propose projects to be carried out in Latin America and the Caribbean. Proposals will be voted on by the public, and the ideas with the most votes will receive grants of up to USD 50,000 to assist with their implementation. Proposals that focus on gender equality will be given priority. Continue Reading »

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Monday, December 17, 2012

MICROCAPITAL BRIEF: Incofin Lends $1m to Fundación para el Desarrollo Socioeconómico Rural (FUNDESER) of Nicaragua

Belgian microfinance fund manager Incofin Investment Management (Incofin IM) recently loaned USD 1 million to Fundación para el Desarrollo Socioeconómico Rural (FUNDESER), a Nicaraguan nongovernmental organization (NGO), through a fund it manages, the Rural Impulse Fund II. Continue Reading »

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Monday, December 10, 2012

MICROCAPITAL BRIEF: Te Creemos of Mexico First Microfinance Institution (MFI) in Mexico to Issue MasterCards, Plans to Reach 250,000 New Customers Over 3 Years

MasterCard Inc, a US-based payments and technology company, has established a new business model to reach small and medium-sized enterprises (SMEs) by enabling regulated microfinance institutions (MFIs) in Mexico to become card issuers. Continue Reading »

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Sunday, December 9, 2012

MICROCAPITAL BRIEF: TransferTo Partners with AT&T, Taiwan Mobile, Korvac Holdings to Allow Customers to Send, Receive Phone Airtime in the Americas and Asia

TransferTo International, a telecommunications company incorporated in Singapore, recently partnered with AT&T, a US-based telecommunications provider, to allow AT&T mobile phone subscribers in the US to execute TransferTo International Top-Ups via short message service (SMS), also known as text messaging. Continue Reading »

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Friday, December 7, 2012

MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $22m to Microfinance Institutions (MFIs) Worldwide, Including $2m to Costa Rican MFI National Cooperative of Educators (Coopenae), $1m Renewed to FINCA Ecuador

During November, Dual Return-Vision Microfinance and Dual Return-Vision Microfinance Local Currency, two funds managed by Austria-based investment and asset management company Absolute Portfolio Management (APM), issued the equivalent of USD 22 million in loans to microfinance institutions (MFIs) globally, with much of the funds going to MFIs in Latin America and Asia. Continue Reading »

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Tuesday, December 4, 2012

MICROCAPITAL BRIEF: BanBif of Peru to Sell $400m in Bonds to Fund Microfinance Loans in 2013

BanBif, a bank in Peru that was formerly known as Banco Interamericano de Finanzas, is reportedly planning to sell up to USD 400 million in bonds in an effort to expand its microfinance lending in the country. Continue Reading »

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Monday, December 3, 2012

MICROCAPITAL BRIEF: Credinka of Peru, Ugafode of Uganda, FACES of Ecuador, Agora Microfinance Zambia, ASDIR of Guatemala Borrow $4m From Triodos Investment Management

Triodos Investment Management, a subsidiary of Dutch Triodos Bank, recently disbursed loans to the following five microfinance institutions: Caja Rural de Ahorra y Credito Quillabamba (Credinka) of Peru, Ugafode Microfinance Limited of Uganda, Fundación de Apoyo Comunitario y Social del Ecuador (FACES) of Ecuador, Agora Microfinance Zambia and Asociación de Desarrollo Integral Rural (ASDIR) of Guatemala. Continue Reading »

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Wednesday, November 28, 2012

MICROCAPITAL BRIEF: Fundacion Microfinanzas BBVA of Spain Takes 31% Stake in Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic

Fundacion Microfinanzas Banco Bilbao Vizcaya Argentaria (BBVA), a nonprofit affiliate of Spanish banking heavyweight BBVA Group, recently has taken a 31-percent stake in microfinance institution (MFI) Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic for an undisclosed sum. Continue Reading »

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Wednesday, November 28, 2012

MICROCAPITAL BRIEF: Belgian Investment Company for Developing Countries (BIO) to Loan $1.5m to Centro de Investigación y Desarrollo Regional (CIDRE) of Bolivia

Belgian Investment Company for Developing Countries (BIO), a state-owned development finance institution, recently extended a USD 1.5 million loan to Centro de Investigación y Desarrollo Regional (CIDRE), a Bolivian non-governmental organization (NGO). Continue Reading »

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Monday, November 26, 2012

MICROCAPITAL BRIEF: Munich Climate Insurance, EC Global Insurance Launch Microinsurance Product in St. Lucia

The Munich Climate Insurance Initiative (MCII), a project of the German re-insurance company Munich Re, and EC Global Insurance, a subsidiary insurance arm of the St. Lucia-based East Caribbean Financial Holding Group, recently unveiled a microinsurance product “Livelihood Protection Policy” (LPP).Speaking at the product launch, Leathon Khan, CEO of EC Global, reportedly noted, “This is for us a very proud accomplishment and a very proud moment in our continued development as a very innovative and forward thinking insurance provider. We really appreciate the positive response from the regulators and we can now move forward very confidently to offer this product to the public. This is a socially responsible investment in our people.” Continue Reading »

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Friday, November 23, 2012

MICROCAPITAL BRIEF: Opportunity International Adds Savings Services In Colombia By Converting Into Microfinance Bank With Funding From Citi Foundation

Opportunity International, a nonprofit organization headquartered in the USA that provides financial products in 24 developing countries, recently announced the establishment of a regulated microfinance bank that will take over the credit offerings it provides to underserved people in Bogotá, Colombia, in addition to rendering savings services. Continue Reading »

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Tuesday, November 20, 2012

MICROCAPITAL BRIEF: Juntos Finanzas of California Wins $100k Mexico Financial Inclusion Competition

Juntos Finanzas, a US-based company offering mobile personal finance tools, recently was announced the winner of the 2012 Financial Inclusion Competition created at G2012 Mexico, the seventh summit of leaders from 20 large economies (G-20), and Ashoka Changemakers, an initiative of the US-based nonprofit Ashoka. Continue Reading »

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Tuesday, November 20, 2012

MICROCAPITAL BRIEF: Peru, Bolivia, Pakistan Top 2012 Global Microscope on Microfinance Business Environment

According to the Global Microscope on the Microfinance Business Environment 2012, a recent report by the UK-based Economist Intelligence Unit (EIU), Peru is the top country in microfinance for the fifth consecutive year due to its strong regulatory environment. Continue Reading »

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Friday, November 16, 2012

SPECIAL REPORT: Alalay Sa Kaunlaran Incorporated (ASKI) of the Philippines Takes $127k European Microfinance Award for Innovation in Food Security

The fourth European Microfinance Award, which focused this year on food security, has been awarded to Alalay Sa Kaunlaran Incorporated (ASKI) of the Philippines for its work serving people in rural areas with traditional financial services as well as community development efforts. Executive Director Rolando Victoria of ASKI, who is pictured at the right, stated that, “The motivation at the time [of our founding] was credit…. Now we were able to install a hanging bridge…linking farmers to markets.” Another way that ASKI has assisted its clients is by linking groups of customers with major buyers. A signature achievement was working with government partners to connect small-scale growers of onions and cassava with fast-food restaurant chain Jollibee Foods Corporation, which reported sales of PHP 44 billion (USD 1 billion) during the year ending June 2012. Mr Victoria reported that one of the challenges ASKI had to overcome was convincing farmers of the value of having a guaranteed customer with a price set in advance, even if market prices might turn out to be higher after the harvest. The award was presented as part of European Microfinance Week, which closes in Luxembourg on November 16. Continue Reading »

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Wednesday, November 14, 2012

SPECIAL REPORT: At European Microfinance Platform’s Microfinance Week, ADA, REDCAMIF Detail Support for MFIs, National Networks in Developing New Products as Part $7m Effort in Central America, Caribbean

This morning, representatives of Luxembourg-based nonprofit Appui au Développement Autonome (ADA) and the Red Centroamericana y del Caribe de Microfinanzas (REDCAMIF), a network of seven national microfinance networks, presented their progress to date on their joint effort to promote product innovation and capacity building among microfinance institutions (MFIs) in Central America and the Dominican Republic. The partnership, which was launched earlier in 2012, has a budget of EUR 5.5 million (USD 7 million) to be disbursed over a period of 4.5 years. The organizations have completed a survey of client needs in the region and have dedicated approximately 15 percent of the project budget to support networks in becoming self-sufficient, including through a fund to support national networks in developing products they can sell to their member MFIs. Continue Reading »

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Thursday, November 8, 2012

MICROCAPITAL BRIEF: ResponsAbility loans $1.2m to Caja Municipal de Ahorro y Credito de Maynas of Peru, Disburses First Tranche of $15m Loan to Vision Fund International

ResponsAbility Social Investments, a for-profit Swiss fund manager, recently informed MicroCapital that it has loaned the local-currency equivalent of USD 1.2 million as subordinated debt to Caja Municipal de Ahorro y Crédito de Maynas, a Peruvian microfinance institution (MFI). Continue Reading »

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Tuesday, November 6, 2012

MICROCAPITAL BRIEF: Brazil Doubles Microfinance Loan Ceiling to $19,000

Brazil’s National Monetary Council, a body charged with regulating and monitoring Brazilian capital markets and financial institutions, recently increased the limit for each microcredit loan from BRL 20,000 (USD 9,840) to BRL 40,000 (USD 19,677). Continue Reading »

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