Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Smart Communications, ICMFI to Offer Mobile Banking Accounts in Iloilo, Philippines

Smart Communications Incorporated, a mobile services subsidiary of publicly-traded PLDT Incorporated (formerly the Philippines Long Distance Telephone Company), has partnered with the Philippine nonprofit International Care Ministries Foundation (ICMFI) to provide Smart Communications’ “SMART Money” mobile banking accounts to members of the Pototan community in Iloilo province. Continue reading

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MICROCAPITAL BRIEF: India’s Jharkhand State Livelihood Promotion Society (JSLPS), MicroSave Launch Financial Education Pilot Program for Self-Help Groups (SHGs)

The Jharkhand State Livelihood Promotion Society (JSLPS), a program of the local government’s Rural Development Department, and MicroSave, a financial inclusion consulting firm headquartered in the northern Indian state of Uttar Pradesh, recently launched a financial education pilot program in the Bero, Khuntipani and Manoharpur blocks of the eastern Indian state of Jharkhand. Continue reading

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MICROCAPITAL BRIEF: IFMR Investment Managers Raising Third Debt Fund, IFMR FImpact Medium Term Microfinance Fund

The Institute for Financial Management and Research (IFMR) Investment Managers, a unit of India-based IFMR Trust Group providing investment management services in asset classes that impact the financially excluded, is seeking to raise INR 1 billion (USD 15 million) for a debt fund called IFMR FImpact Medium Term Microfinance Fund to invest exclusively in microfinance firms. Continue reading

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MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $34m to Microfinance Institutions (MFIs) in Latin America, South Asia

During July 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 34 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ecuador, India, Nicaragua, Paraguay and Sri Lanka. Continue reading

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MICROCAPITAL BRIEF: IDFC Bank Acquires India’s Grama Vidiyal Micro Finance

The Infrastructure Development Finance Company (IDFC) Bank, an Indian for-profit private company providing banking and other financial services, recently acquired Grama Vidiyal Micro Finance, a microfinance institution (MFI) headquartered in the Indian state of Tamil Nadu, increasing its rural and semi-urban customer base by 1.2 million. Continue reading

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MICROCAPITAL BRIEF: India’s Suryoday Microfinance Raises $15m in Equity as Aavishkaar Goodwell Exits

Suryoday Micro Finance Private Limited , a non-banking finance company providing microfinance services in India, recently raised INR 1 billion (USD 15 million) from investors including the Infrastructure Development Finance Company (IDFC) Bank; ASK Pravi; the Housing Development Finance Corporation (HDFC) Standard Life Insurance; Arpwood Investment Advisors; Kiran Vyapar, the investment arm of LN Bangur Group; Polaris Banyan Holding and Dr. Aravind Srinivasan [2]. Continue reading

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MICROCAPITAL BRIEF: Canadian Government Donates $6.7m to DID, Sanasa to Establish Entrepreneur Financial Centre (EFC) Offering Microfinance in Sri Lanka

The Canadian government recently announced a donation of CAD 8.8 million (USD 6.7 million) to be disbursed over four years for the creation of an Entrepreneur Financial Centre (EFC) in Sri Lanka, jointly implemented by Développement International Desjardins (DID), a unit of Canadian cooperative Desjardins Group that promotes financial services in developing countries, and Sanasa Development Bank PLC, a Sri Lankan bank that provides low-income people with loans, voluntary savings, leasing and fund transfer services. Continue reading

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MICROCAPITAL BRIEF: Symbiotics Issues Bonds Supporting SME, Rural Finance: $12m for Costa Rica’s Banco Improsa, $10m for Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, $6m for Armenia’s Armeconombank

Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds Continue reading

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MICROCAPITAL BRIEF: Symbiotics Group Issues “Impact” Finance Bonds of $9m for India’s Fusion Microfinance Private Limited, $7.5m to Sri Lanka’s LOMC, $3.5m to India’s Saija

Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Household Responses to Village Bank Access in Laos; Mobile Banking in Kenya; The Role of Banks in Driving Financial Inclusion

“Household Responses to Access to Finance Through GIZ-AFP Village Banks;” published by the Laos-Australia Development Learning Facility; February 2016; 50 pages; available at: http://ladlf.org/images/publications/030516_LADLF_GIZ_HH_Response_to_A2F_Final.pdf Continue reading

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MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $12m to Microfinance Institutions (MFIs) in Asia, Latin America, Tanzania

During the month of June 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 12 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Cambodia, India, Nicaragua, Peru, the Philippines, Sri Lanka and Tanzania. USD 1 million of this total was invested in Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $5m to Cambodia’s Chamroeun, AMK, LOLC Micro Credit

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has disbursed the following loans to Cambodian microfinance institutions (MFIs): the local-currency equivalent of USD 540,000 to Chamroeun Microfinance; a pair of transactions totaling USD 2.2 million to Angkor Mikroheranhvatho Kampuchea (AMK), which was founded by Ireland-based NGO Concern Worldwide; and USD 2.2 million to the Lanka Orix Leasing Company Micro Credit Limited (LOMC), which was formerly known Continue reading

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MICROCAPITAL BRIEF: Philippine Department of Education (DepEd) Introduces Training on Financial Literacy for Senior High School Students

The Philippine Department of Education (DepEd) recently announced that financial literacy training will be included in the curriculum of senior high school students. Continue reading

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MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $555k to Indonesia’s Koperasi Mitra Dhuafa (Komida)

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has loaned the local-currency equivalent of EUR 500,000 (USD 555,000) over three years to Koperasi Mitra Dhuafa (Komida), an Indonesian lender to women. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation Investing Up To $70m in Debt in India-based Microfinance Institutions Grameen Koota, Janalakshmi Financial Services

The International Finance Corporation, a member of the World Bank Group, recently announced that it will invest up to INR 1.4 billion (USD 20 million) in Grameen Financial Services Private Limited and INR 3.4 billion (USD 50 million) in Janalakshmi Financial Services (JFS), Bangalore-based microfinance institutions (MFIs). Continue reading

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MICROCAPITAL BRIEF: TPG Growth Acquiring 40% in One Network Bank from Banco de Oro Unibank of Philippines

TPG Growth, a subsidiary of the private equity firm TPG, recently announced its intention to purchase a 40-percent equity stake in One Network Bank (ONB), a rural subsidiary of Banco de Oro Unibank (BDO), a Philippines-based commercial bank. Continue reading

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MICROCAPITAL BRIEF: IntelleGrow Raises $20m in Debt, Equity to Fund Micro-, Small, Medium-sized Enterprises in India

IntelleGrow Private Limited, an India-based nonbanking financial company specializing in venture debt that was founded by India’s Intellecap Capital Advisory Services, recently announced that it has raised INR 134 billion (approximately USD 20 million) in equity and debt. Continue reading

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