Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $2m to Cambodian Angkor Mikroheranhvatho Kampuchea; Invests $546k in Equity in Palestinian Arab Center for Agricultural Development

The Luxembourg-based Grameen Credit Agricole Microfinance Foundation (GCAMF), which provides financial services to “social businesses,” recently informed MicroCapital that it has provided a three-year loan of EUR 1.5 million (USD 2.05 million) to Angkor Mikroheranhvatho Kampuchea Company Limited (AMK), a microfinance institution located in Cambodia. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $2m to Cambodian Angkor Mikroheranhvatho Kampuchea; Invests $546k in Equity in Palestinian Arab Center for Agricultural Development Posted in Deals, Middle East, South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Australian Department of Foreign Affairs, Trade Donates $13m to Pacific Financial Inclusion Program (PFIP)

The Australian Department of Foreign Affairs and Trade, the Canberra-based government agency responsible for Australia’s international relations, trade and development assistance programs, reportedly will fund a three-year program with AUD 14.15 million (USD 13.13 million) to support the Pacific Financial Inclusion Program (PFIP). Continue reading

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MICROCAPITAL BRIEF: Elevar Equity, Omidyar Network, Saama Capital, WestBridge Capital Invest $27m in Equity in India’s Vistaar Finance for Lending to Micro-, Small, Medium-sized Enterprises (MSMEs)

Elevar Equity, which invests in “disconnected communities” from offices in India and the US; Omidyar Network, a US-based investor in “socially responsible” organizations; Saama Capital, an India-focused venture capital fund registered in Mauritius; and WestBridge Capital, an India-based investment company with offices in India, Mauritius and the United States, reportedly have collectively invested INR 1.6 billion (USD 27 million) in Bangalore-based non-banking finance company Vistaar Finance (Vistaar). Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Elevar Equity, Omidyar Network, Saama Capital, WestBridge Capital Invest $27m in Equity in India’s Vistaar Finance for Lending to Micro-, Small, Medium-sized Enterprises (MSMEs) Posted in Deals, South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Credit Rating Information Services of India Limited (CRISIL) Upgrades Rating of Evangelical Social Action Forum (ESAF) Microfinance

Credit Rating Information Services of India Limited (CRISIL), an Indian ratings, research, risk and policy advisory company, has elevated the rating of Evangelical Social Action Forum (ESAF) Microfinance, a microfinance institution (MFI) based in the Indian state of Kerala, to “mfr2.” [1][2] Continue reading

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MICROCAPITAL BRIEF: MicroVentures Invests $13.5m in Equity in Microfinance Institution Grameen Koota of India

Indian non-banking financial company Grameen Financial Services Private Limited, which is also known as Grameen Koota, reportedly has received an equity investment of USD 13.5 million from Italy-based private equity firm MicroVentures. Continue reading

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MICROCAPITAL BRIEF: SKS Trust Advisors Sells 7.6% of SKS Microfinance, Decreasing Stake to 4.8%

SKS Trust Advisors Private Limited, the India-based trustee of five mutual benefit trusts benefiting groups who borrow from SKS Microfinance Limited, reportedly has sold a 7.6-percent stake in SKS Microfinance, a for-profit Indian microfinance institution (MFI), to an unspecified buyer. Continue reading

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MICROCAPITAL BRIEF: Myanmar Ministry of Cooperatives Allocates $52m for Microfinance in Agriculture

The Myanmar Ministry of Cooperatives reportedly has budgeted MMK 50 billion (USD 51.8 million) to support microfinance, specifically in the country’s agricultural sector [1]. Continue reading

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MICROCAPITAL BRIEF: Chinese Unit of Opportunity International (OI) Buys Mambu Cloud Banking Software to Support Lending to Small, Medium-Sized Enterprises (SMEs)

Opportunity International (OI), a US-based nonprofit providing microfinance in 22 countries, has selected Mambu, a German firm offering a cloud-based banking platform, to provide banking software for OI’s lending to small and medium-sized enterprises (SMEs) in China. Continue reading

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MICROCAPITAL BRIEF: Lok Capital, Creation Investments Invest Total of $13m in Indian Microfinance Institution Equitas Holdings

Two institutional investors, Lok Capital LLC (Lok Capital), a Mauritius-based investment vehicle, and Creation Investments Capital Management Limited Liability Corporation (LLC) (Creation Investments), a US-based alternative investment management company, reportedly have invested a cumulative sum of INR 800 million (USD 13.7 million) in Equitas Holdings Private Limited (Equitas), a Chennai-based microfinance institution (MFI). Continue reading

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MICROCAPITAL BRIEF: Amret Receives $10m Loan from Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW) for Micro-, Small, Medium-Sized Enterprises (MSMEs) in Cambodia

Amret Microfinance, a Cambodian microfinance institution (MFI), reportedly has borrowed USD 10 million from German development bank Kreditanstalt für Wiederaufbau (KfW) for the purpose of expanding Amret’s financing for small businesses in Cambodia. Continue reading

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MICROCAPITAL BRIEF: Vodafone, ICICI Bank of India Launch Mobile Payments of Government Health Care Subsidies via M-Pesa

Vodafone Group Private Limited Corporation, a British mobile network operator, and ICICI Bank, a commercial bank in India, reportedly have launched a pilot service to deliver subsidies to individuals via M-Pesa, a mobile-money system developed by Vodafone from Janani Suraksha Yojna, a government scheme to decrease neo-natal and maternal deaths by providing delivery and post-delivery care. Continue reading

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MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Gives 2-Year Extension to Share, Asmitha, Spandana Sphoorty to Meet Capital Requirements

The Reserve Bank of India (RBI) has given three microfinance institutions (MFIs) a two-year extension to meet the requirements to qualify as non-banking financial company (NBFC) MFIs. Continue reading

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MICROCAPITAL BRIEF: First Gulf Bank, Monitise to Launch Mobile Banking Services in Middle East

First Gulf Bank (FGB), a commercial bank based in the United Arab Emirates, and Monitise, a UK-based facilitator of mobile money services, reportedly have announced a partnership to offer unspecified “new mobile banking services to clients in the Middle East”[1]. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Over-indebtedness in Mexico; Achieving Customer Centricity; Managing Over-indebtedness

“Over-Indebtedness in Mexico: Its Effect on Borrowers;” published by Microfinance CEO Working Group; May 2014; 32 pages; available at http://microfinanceceoworkinggroup.org/wp-content/uploads/2014/05/Over-Indebtedness-in-Mexico-Its-Effect-on-Borrowers-552014.pdf

This report cautions lending institutions in Mexico about rising levels of over-indebtedness – meaning more borrowers cannot reasonably repay their debts – which can threaten the financial system as well as the economic outlook of low-income individuals. Continue reading

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MICROCAPITAL BRIEF: Bandhan Financial Services of India Reduces Lending Rate to 22.4% per Year

Bandhan Financial Services, a microfinance institution (MFI) based in the Indian city of Kolkata, reportedly announced that it has reduced its lending rate by 50 basis points, or 0.5 percent, bringing its annual interest rate down to 22.4 percent. Continue reading

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MICROCAPITAL BRIEF: Reserve Bank of India (RBI) to Allow Minors Over Age 10 to Open Savings Accounts

The Reserve Bank of India (RBI), a government agency charged with overseeing the Indian financial sector, reportedly has decided to allow minors over 10 years of age to open savings accounts at banks without the supervision of a guardian. Continue reading

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MICROCAPITAL BRIEF: State Bank of India Names Reliance Money Infrastructure a Business Correspondent

The State Bank of India (SBI), an Indian state-owned financial services company, reportedly has finalized an agreement with Mumbai-based Reliance Money Infrastructure Limited (RMIL), a service provider to banks, under which RMIL will take on some of SBI’s transactions as a business correspondent[1]. Continue reading

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MICROCAPITAL BRIEF: Philippines’ Government Announces $46m Fund to Support Microentrepreneurs Affected by Typhoon Haiyan (Yolanda)

The Department of Budget and Management (DBM) of the Philippines, a government body that allocates government resources with the intent of promoting the socio-economic development of the country, has announced that it will establish a Credit Support Fund (CSF) of PHP 2 billion (USD 45.7 million) to aid microentrepreneurs through the provision of microfinance in regions that are recovering from the effects of typhoon Haiyan (Yolanda) that affected the country in 2013 [1]. Continue reading

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