Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: European Investment Bank (EIB) Introduces $33m Pacific Microfinance Facility

The European Investment Bank (EIB), the long-term lending bank of the European Union, has introduced the Pacific Microfinance Facility, a program that aims to support community projects and micro- and small enterprises (MSEs) in the Pacific region [1]. Continue reading

Share

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Invests $2.4m in Cambodian Microfinance Institutions Chamroeun, Thaneakea Phum Cambodia (TPC)

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently issued the following two loans to Cambodian MFIs: Continue reading

Share

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $424k to Sri Lanka’s Janamithu Lanka Limited, $841k to Tajikistan’s Humo and Partners

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has issued the following two loans: (1) The equivalent of EUR 462,000 (approximately USD 424,000) in local currency over three years to Janamithu Lanka Limited (JLL), a microfinance institution (MFI) in Sri Lanka that offers loans to poor people for education and asset building; and (2) EUR 850,000 (approximately USD 841,000) over one year to Humo and Partners, a Tajikistan-based MFI founded by the local affiliate of Switzerland-based nongovernmental organization CARE International. The MFI lends mainly to farmers and other rural entrepreneurs [1]. Continue reading

Share

MICROFINANCE PAPER WRAP-UP: “Is Health Microinsurance Sustainable? An Analysis of Five South Asian Schemes,” by Michael E. Weilant, published by the International Labour Organization

“Is Health Microinsurance Sustainable? An analysis of Five South Asian Schemes,” by Michael Weilant, published by the International Labor Organization, May 2015, 45 pages, available at: http://www.impactinsurance.org/sites/default/files/mp41_final.pdf

This paper analyzes five health microinsurance (HMI) schemes operating in India, Bangladesh and Pakistan in order to evaluate the sustainability of HMI. All five schemes were in operation for more than 3 years and serve more than 25,000 active customers. Continue reading

Share

MICROCAPITAL BRIEF: India’s Bandhan Financial Services Receives Banking License Permitting it to Accept Deposits; Plans to Begin Banking Operations in August 2015

The Indian microfinance institution, Bandhan Financial Services, which received a provisional banking license from the Reserve Bank of India (RBI) in 2014, recently announced that it has received final approval from RBI that allows it to accept deposits. The organization intends to start offering banking services beginning August 23, 2015. Continue reading

Share

MICROCAPITAL BRIEF: Pacific Financial Inclusion Programme (PFIP), Bima Partner to Offer Microinsurance in Rural Papua New Guinea

The Pacific Financial Inclusion Programme (PFIP), a Fiji-based United Nations initiative that attempts to extend financial services to unbanked Pacific Islanders, and Bima, a Sweden-based microinsurance provider that partners with mobile operators, recently launched an effort with the support of the European Union, the Australian government and the Bank of Papua New Guinea to provide two microinsurance products in Papua New Guinea (PNG) [1]. Continue reading

Share

MICROFINANCE PUBLICATION ROUND-UP: Global Findex Database 2014; PEP Report on Female Entrepreneurs in Nigeria; YouthSave Research Report 2015

“The Global Findex Database 2014: Measuring Financial Inclusion Around the World;” by Asli Demirguc-Kunt, Leora Klapper, Dorothe Singer and Peter Van Oudheusden; published by the World Bank; April 2015; 88 pages; available at http://www.worldbank.org/en/programs/globalfindex

The World Bank’s Global Findex Database 2014 indicates that between 2011 and 2014, 700 million people became accountholders for the first time at banks, via other financial institutions and with mobile money service providers, reducing the number of unbanked individuals by 20 percent. Continue reading

Share

MICROCAPITAL BRIEF: India’s Muthoot Microfin to Raise $80m from Private Equity Investors for Expansion, Infrastructure Expense

Muthoot Microfin Limited, a microlending member of the Muthoot Pappachan Group (MPG), which is based in the state of Kerala, India, announced recently that it plans to raise INR 5 billion (USD 80 million) from private equity investors to fund the company’s capital expenditure, infrastructure and expansion plans. Continue reading

Share

MICROCAPITAL BRIEF: Three Social Security Insurance, Pension Schemes Launched in India; Banks May Bear Subsidy Costs

The administration of Indian Prime Minister Narendra Modi reportedly has launched three new social security schemes in an effort to increase access to insurance and pension coverage for a “large” segment of India’s population.  Continue reading

Share

MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Seeks Partners for Customer-Centric Financial Services Project

CGAP (Consultative Group to Assist the Poor), a US-based nonprofit policy and research center devoted to worldwide growth of financial access, is searching for financial service providers with whom to partner to increase customer centricity within the providers’ systems. Continue reading

Share

MICROCAPITAL BRIEF: Belgium’s Impulse Microfinance Investment Fund Exits from MFIs in India, Mexico

During the year ending December 2014, the Impulse Microfinance Investment Fund (Impulse Fund), which is managed by Belgium’s Incofin Investment Management (Incofin), sold its equity stakes in India-based Grameen Koota and the Mexican operations of El Salvador-based Apoyo Integral Inversiones, according to a recent announcement by Incofin. Continue reading

Share

MICROCAPITAL BRIEF: Parinaam Foundation of India Launches Financial Literacy Program in Tribal Communities of Garo, Jaintia, Khasi

The Parinaam Foundation, a nonprofit organization that provides social services to women in India, has partnered with the World Bank Group, a group of five multilateral organizations that invest in developing countries, and the government of the Indian state of Meghalaya to offer a financial literacy training program to individuals in three tribal communities: Garo, Jaintia, and Khasi.  Continue reading

Share

MICROCAPITAL EVENT: 5th Pacific Microfinance Week: Next Mile Financial Services in the Pacific, September 21-25, 2015, Honiara, Solomon Islands

Event Name: 5th Pacific Microfinance Week 2015: Next Mile Financial Services in the Pacific

Event Date: September 21-25, 2015

Event Location: Heritage Park Hotel, Honiara, Solomon Islands

Event Summary: Pacific Microfinance Week (PMW) 2015 is a series of workshops, field visits and formal conference sessions focusing on providers of financial services for poor people in the Pacific region. The topics that will be discussed include digital finance and delivery channels, women’s empowerment through access to finance, enhancing the potential of non-bank financial institutions, policy and regulation, innovations in products and services, developing measures of financial inclusion, how corporate governance structures can improve organizational performance, and a special session on financial inclusion in the Solomon Islands. The most recent PMW was held in 2013. Continue reading

Share

MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan up to $10m to Prasac of Cambodia for On-Lending to Agricultural Micro-, Small, Medium-sized Enterprises (MSMEs)

The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it has opened a long-term credit line of up to USD 10 million to Prasac Microfinance Institution Limited, a Cambodian microfinance institution (MFI). Continue reading

Share

MICROCAPITAL BRIEF: MasterCard, Alliance for Financial Inclusion (AFI) Seek to Advance Financial Inclusion via Public-Private Dialogue (PPD)

MasterCard, a US-based payments and technology company, and the Alliance for Financial Inclusion (AFI), a network of 124 financial policymaking institutions from developing and emerging economies, recently announced a partnership within AFI’s Public-Private Dialogue Platform (PPD) to promote financial inclusion [1]. Continue reading

Share

MICROCAPITAL BRIEF: After Suspension Due to Low Repayment Rates, Bank Rakyat Indonesia, Bank Negara Indonesia, Bank Mandiri Resume Government’s $1.5b Kredit Usaha Rakyat (KUR) Microloan Program

Bank Rakyat Indonesia (BRI), Bank Negara Indonesia (BNI) and Bank Mandiri, three state-owned banks in Indonesia, will resume efforts to distribute IDR 20 trillion (USD 1.5 billion) during 2015 via the microloan program Kredit Usaha Rakyat (KUR) [1]. Continue reading

Share