Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Janalakshmi Raises $23.5m through Non-Convertible Debentures, Borrows $4.2m from IFMR Capital

Janalakshmi Financial Services, a Bangalore-based microfinance institution (MFI) that offers lending and insurance services to low-income households in India, recently announced that it had raised a total of INR 1.77 billion (approximately USD 27.7 million) through the issuance of non-convertible debentures (NCDs) and an unsecured term loan.

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MICROCAPITAL BRIEF: India’s Micro Units Development and Refinance Agency (MUDRA) Bank Loans $9.3m to Microfinance Institutions (MFIs) Arohan,  Belstar, Equitas, Margdarshak, Sonata

The Micro Units Development and Refinance Agency (MUDRA) Bank, an Indian public-sector financial institution that provides subsidized loans to microfinance institutions (MFIs) and non-banking financial institutions, recently announced that it had disbursed loans totalling INR 620 million (approximately USD 9.3 million) to MFIs in India.

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MICROCAPITAL BRIEF: Philippines’ Securities and Exchange Commission (SEC) to Establish Microfinance NGO Regulatory Council

The Philippine Senate has recently passed Senate Bill 2752, also called the Microfinance NGOs Act, which directs the Securities and Exchange Commission (SEC), an agency of the Philippine government regulating the securities market in an effort to promote economic efficiency, to establish the Microfinance Non-Governmental Organization (NGO) Regulatory Council. [1] Continue reading

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MICROCAPITAL BRIEF: India’s Ujjivan Financial Services Raises $7.85m from  Mutual Funds for On-Lending To Micro-, Small, Medium-Sized Enterprises (MSMEs)

 Ujjivan Financial Services Private Limited, a microfinance institution (MFI) based in Bangalore, India, recently announced that it has raised INR 500 million (approximately USD 7.85 million) from United Trust of India (UTI), a mutual fund company based in Mumbai, India, through the issuance of secured, non-convertible debentures (NCDs).

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MICROCAPITAL BRIEF: Private Equity Fund, Apis Partners, Raises $157m for Financial Technology Startups in Africa, South Asia

Apis Partners, a London-based private equity firm, has raised USD 157 million in investments for the Apis Growth Fund that it launched in 2014 to target technology firms working in payments, savings, investments, credit and insurance in Africa and South Asia. Continue reading

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MICROCAPITAL BRIEF: Qualcomm, Project Concern International (PCI) India, Microware Computing & Consulting Partner to Offer 3G-based Mobile Microfinance Technology for Microfinance Institution Planned Social Concern

Qualcomm, a US-based semiconductor and telecommunications company, recently announced a collaboration with Project Concern International (PCI) India, a New Delhi-based branch of the US-based non-governmental organization PCI; Planned Social Concern (PSC), a microfinance institution (MFI) based in Jaipur, India; and Microware Computing & Consulting, an Indian telecommunications and software company. Continue reading

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MICROCAPITAL BRIEF: Thailand’s Kiatnakin Bank, Siam Commercial Bank; India’s Tamilnad Mercantile Bank; ING Bank of the Netherlands Participate in $65m Syndicated Loan to Microfinance Institution (MFI) Prasac to Encourage Growth of Micro-, Small, Medium-sized Enterprises (MSMEs) in Rural Cambodia

Commercial banks including Thailand’s Kiatnakin Bank and Siam Commercial Bank (SCB); India’s Tamilnad Mercantile Bank (TMB); and the Netherlands’ ING Bank, recently announced the disbursement of a syndicated loan of USD 65 million to Cambodian microfinance institution (MFI) Prasac Microfinance Limited. Continue reading

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MICROCAPITAL BRIEF: United Nations Announces Goals of “2030 Agenda for Sustainable Development”

The United Nations recently released the final version of, “Transforming Our World: The 2030 Agenda for Sustainable Development,” highlighting 17 sustainable development goals with 169 associated targets intended to eradicate poverty by the year 2030. Continue reading

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MICROCAPITAL BRIEF: India’s Micro Units Development and Refinance Agency (MUDRA) Bank Loans $5.5m to Microfinance Institution (MFI) Satin Creditcare

The Micro Units Development and Refinance Agency (MUDRA) Bank, an Indian public-sector financial institution that provides subsidized loans to microfinance institutions (MFIs) and non-banking financial institutions, recently announced that it has disbursed a loan of INR 350 million (approximately USD 5.5 million) to Satin Creditcare Network Limited, a for profit MFI based in Delhi, India.
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MICROCAPITAL BRIEF: India’s SIDBI Sets up $154m Fund to Support Micro-, Small and Medium-Sized Enterprises

The Small Industries Development Bank of India (SIDBI) recently announced that it has set up a fund with INR 10 billion (USD 154 million) to provide concessional financing to micro-, small and medium-sized enterprises (MSMEs) in the manufacturing sector. As per a statement released by SIDBI, the objective of the fund is to transform the Indian MSME sector into a “world class manufacturing hub” in line with the Indian government’s “make in India” program. Continue reading

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MICROCAPITAL BRIEF: Housing Development Finance Corporation (HDFC) Bank Introduces Micro Automatic Teller Machines (ATMs) with Fingerprint Identification to Increase Access to Banking in Rural India

The Housing Development Finance Corporation (HDFC) Bank, an Indian financial services company, reportedly has introduced micro automatic teller machines (ATMs) in rural India to improve access to banking services in underserved areas of the country. Continue reading

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MICROCAPITAL BRIEF: Indonesia to Disburse $2.2b under Microfinance Program Kredit Usaha Rakyat (KUR) to Encourage Growth of Micro-, Small and Medium-Sized Enterprises (MSMEs)

The Indonesian government intends to disburse IDR 30 trillion (USD 2.2 billion) in small business loans under its Kredit Usaha Rakyat (KUR) program, which is intended to provide credit to micro-, small and medium-sized enterprises (MSMEs) and cooperatives. Continue reading

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MICROCAPITAL BRIEF: Tanzania’s FINCA Microfinance Bank, Bharti Airtel to Provide Mobile Banking Services

FINCA Microfinance Bank (formerly FINCA Tanzania), an affiliate of nonprofit microfinance network FINCA International, has announced a partnership with Bharti Airtel, an Indian telecommunications company, aiming to provide mobile banking microfinance services to FINCA’s clients in Tanzania. Continue reading

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MICROCAPITAL BRIEF: Pakistan’s Apna Obtains Nationwide Microfinance Banking License

The State Bank of Pakistan (SBP), the country’s central bank, recently issued a nationwide microfinance banking license to Apna Microfinance Bank (Apna MFB) thereby enhancing its status from that of a district-based bank. This license permits Apna MFB to expand its operations outside the city of Karachi, Pakistan, where it operates five branches. Continue reading

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