The 82-member Cambodian Microfinance Association (CMA) recently announced that its affiliated microfinance institutions (MFIs) are declining to enforce the 10-percent value-added tax (VAT) that the country’s Ministry of Economy and Finance (MEF) has levied on financial services.
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced it will loan a total of USD 13.5 million and provide related advisory services to three microfinance institutions in Myanmar.
Myanmar Finance International Limited (MFIL), a microfinance institution owned by Myanmar Investments International Limited (MIIL), Myanmar Finance Company Limited (MFCL) and the Norwegian Investment Fund for Developing Countries (Norfund), recently announced that it has secured a local-currency loan facility worth USD 1 million from Switzerland-based Symbiotics.
The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently announced it will loan USD 7.5 million to the Association for Social Advancement (ASA) Pakistan, a microlending unit of Mauritius-based ASA International Holding, “to provide funding and financial education to about 50,000 women and their families.”
India Ratings, a subsidiary of US-based Fitch Group, recently announced that its “0+ days delinquency index” increased from 0.45 percent to 10.82 percent in the four months following November 2016 and thus concluded that the Indian government’s demonetization had a significant negative effect on microlenders .
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that has committed to extending loans totaling the following amounts in phases over three years: the local-currency equivalent of USD 2.96 million to Myanmar’s Proximity Finance; USD 1.60 million to BRAC Myanmar; and USD 1.37 million to VisionFund Myanmar.
During June, Italy’s MicroFinanza Rating (MFR) issued four microfinance institutional ratings. Ecuador’s Insotec earned a rating of BBB with a stable outlook.
The government of Papua New Guinea (PNG), in partnership with Philippines-based Asian Development Bank (ADB), the government of Australia and the PNG-based Centre for Excellence in Financial Inclusion (CEFI), recently released a gender equity and social inclusion policy for microfinance institutions in PNG.
C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance funds in May issued a loan in Myanmar for the first time.
“Case Study: SolTuna – Tuna Processing, Solomon Islands;” published by the International Finance Corporation; September 2016; 20 pages; available at:
This case study investigates the connections between financial literacy and the reduction of absenteeism and other problems at SolTuna, a tuna processing plant in the Solomon Islands.
The government of the Solomon Islands recently announced it will attempt to shift to using “electronic payment channels for [80 percent of its] payments and receipts” by 2020.
The International Finance Corporation (IFC), a member of the US-based World Bank Group; the government-backed Netherlands Development Finance Company (which is also known by its Dutch acronym FMO); and Singapore-based SBI-FMO Emerging Asia Financial Sector Fund recently placed equity investments totaling USD 22 million in Sri Lankan-based Sanasa Development Bank (SDB Bank).
The government of Cambodia recently announced it has commenced the first phase of a project intended to aid 15,000 small-scale farming families in growing their operations by “building infrastructure to help farmers, and offering special microfinance deals.”
The National Provident Fund, a government-backed retirement trust in the Solomon Islands, recently launched youSave, a savings plan designed to help self-employed islanders establish and contribute to retirement accounts as do “formally employed” citizens.
The International Finance Corporation (IFC), a member of US-based World Bank Group, recently agreed to launch a multifaceted project in partnership with the Japan International Cooperation Agency (JICA), a development institution of the Japanese government.
From 2010 through 2017, the city of Fushun, in northeastern China, invested CNY 2.8 billion (USD 406 million) in a subsidized microcredit program for agriculture, reaching 57,000 female entrepreneurs, primarily those whose husbands live elsewhere for work.
Base of Pyramid Asia (BOPA), a microfinance investment company in Singapore, recently informed MicroCapital that it has raised a total of USD 8 million in equity funding from the Investment Fund for Developing Countries (IFU), which is owned by the Danish government; the Finnish Fund for Industrial Cooperation (Finnfund), which is backed by the Finnish government; and a Danish family office.
WaterEquity, the “social impact investment” subsidiary of US-based NGO Water.org, recently launched the WaterCredit Investment Fund 3 with the goal of raising USD 50 million to “invest in enterprises serving water and sanitation needs among the world’s poor.”