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.”
US-based Route One Fund I LP recently spent approximately INR 990 million (USD 15.4 million) to purchase 0.88 percent of the shares of Bharat Financial Inclusion, a for-profit non-banking microfinance institution (MFI) in India, via an open market transaction.
M M Attanayake, the president of the 71-member Lanka Microfinance Practitioners’ Association (LMFPA), recently urged policymakers to amend existing law to allow microfinance institutions (MFIs) to offer microinsurance.
The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently announced it will loan USD 20 million to Khushhali Microfinance Bank Limited of Pakistan to “expand access to credit for agriculture-related borrowers and small businesses.”
Event Name: Financial Inclusion Innovation Summit 2017
Event Date: August 29 – 31, 2017
Event Location: Stanley Hotel, Port Moresby, Papua New Guinea
Summary of Event: Previously known as Pacific Microfinance Week, this summit will address topics such as wealth creation, accelerating access to finance for small and medium-sized enterprises, how to ensure customer needs are being met
Event Name: Third Sankalp Southeast Asia Summit 2017: Local Problems, Global Solutions
Event Date: September 19 – September 20, 2017
Event Location: Hotel Bidakara; Jakarta, Indonesia
Summary of Event: The focus of the summit is to “strengthen Southeast Asia’s entrepreneurship ecosystem,” and the theme of this year’s iteration is “Local Problems, Global Solutions.” Discussions will address topics such as policy, health, energy, financial services and agriculture.
During May 2017, Italy’s MicroFinanza Rating (MFR), under license from the US-based Smart Campaign, determined that Kyrgyzstan’s Kompanion Bank and FINCA Pakistan have complied with the certification standards derived from the Smart Campaign’s seven client protection
Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution providing group loans to women in Indonesia, recently borrowed USD 15 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Netherlands-based development finance institution. This is the third loan FMO has provided to MBK
The Asian Development Bank (ADB), a Philippines-based multilateral institution, recently made an equity investment of USD 10 million in Satin Creditcare Network Limited, a for-profit Indian microfinance institution (MFI). The funding will be used to “expand and broaden” the institution’s services for unserved
C-Quadrat Asset Management recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 45 million during April to unidentified providers of financial services in a range of countries including Cambodia, Nicaragua and Tajikistan as well as – for the first time –
The Overseas Private Investment Corporation (OPIC), a development finance institution backed by the US government, recently agreed to loan USD 49 million to XacBank, a microfinance institution in Mongolia, to support lending to women-owned small and medium-sized enterprises (SMEs) .