Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: UK-Based Standard Chartered Bank Loans $1.8m to Asa Philippines Foundation

Standard Chartered Bank (SCB), a UK-based financial services company, reportedly has extended a loan of PHP 80 million (USD 1.8 million) to Asa Philippines Foundation (Asa), a Manila-based provider of loans, savings, insurance, business development training and academic scholarships for clients and their children in the Philippines. Continue reading

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MICROCAPITAL BRIEF: Former JP Morgan Asset Management Chairman Unveils $40m Impact Investment Fund, Charioteer-Fund I, to Support Skill Development, Microenterprises in India

Krishnamurthy Vijayan, the former executive chairman of JP Morgan Asset Management India, a Mumbai-based subsidiary of international investment and commercial bank JP Morgan Chase, reportedly has created Charioteer Fund-I, an INR 2.5 billion (USD 40 million) impact investment fund that will seek to place with investments in 25 ventures. Continue reading

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MICROCAPITAL BRIEF: 9th Annual Clinton Global Initiative (CGI) Participants Commit to Advancing 15,000 Women-owned Businesses by 2018

The 2013 Clinton Global Initiative (CGI), an annual meeting that brings together global leaders in an effort to address international problems, was held September 23-26 and focused on ways that CGI members can mobilize people to action to solve world problems [1]. Continue reading

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MICROCAPITAL BRIEF: PlaNet Finance Partners with Thaneakea Phum Cambodia (TPC), China Foundation of Poverty Alleviation (CFPA) to Implement Microfinance Risk Management System

PlaNet Finance, a France-based nongovernmental organization, recently partnered with Thaneakea Phum Cambodia (TPC), a Cambodia-based microfinance institution (MFI), and the China Foundation of Poverty Alleviation (CFPA), a China-based microfinance lender, to integrate PlaNet Finance’s new risk management system into the two Asian MFIs’ operations. Continue reading

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MICROCAPITAL BRIEF: Philippines-based Cebuana Lhuillier Insurance Solutions (CLIS) Launches “Microinsurance on Wheels”

Cebuana Lhuillier Insurance Solutions (CLIS), a Philippines-based insurance provider, reportedly has launched a “Microinsurance on Wheels” campaign in an effort to increase financial literacy including awareness of the benefits of microinsurance products in low-income rural areas of the Philippines. Continue reading

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MICROCAPITAL BRIEF: Cambodian Microbank Sathapana, ElectraCard Partner to Provide ATM, Debit Card Services

Sathapana Limited, a Cambodia-based microfinance institution (MFI), reportedly has partnered with ElectraCard Services (ECS), a subsidiary of India-based Opus Software Solutions that provides electronic payment services, to provide automated teller machine (ATM) and debit card services to Sathapana customers. Continue reading

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MICROCAPITAL BRIEF: Indian Government Seeks Parliamentary Approval for $859m in Spending for Women’s Bank; Women’s Safety; Skills Training; Micro-, Small and Medium-Sized Enterprises (MSMEs); International Monetary Fund (IMF)

The Indian government reportedly is awaiting the Parliament’s approval to spend an additional INR 54.3 billion (USD 859 million) for several institutions including an additional INR 10 billion (USD 159 million) for each of the following: Nirbhaya Fund, a fund supporting women’s safety in India; National Skill Development Corporation (NSDC), which is backed by the Indian Ministry of Finance and provides skill training programs to India’s workforce; and to establish a women’s bank in India. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Indian Government Seeks Parliamentary Approval for $859m in Spending for Women’s Bank; Women’s Safety; Skills Training; Micro-, Small and Medium-Sized Enterprises (MSMEs); International Monetary Fund (IMF) Posted in Deals, South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Bangladesh Bank Asks Commercial Banks to Provide Services to Readymade Garment (RMG) Workers

The Bangladesh Bank (BB), the country’s central bank, recently asked commercial banks to provide readymade garment (RMG) workers with bank accounts so they can receive wages through direct deposit. BB requested commercial banks not to require a minimum balance or charge for banking services. Continue reading

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MICROCAPITAL BRIEF: Microfinance Providers in Pakistan Report 19.4% Increase in Savings, 5.55% Increase in Microinsurance Clients in Second Quarter of 2013

Between April and June of 2013, the value of savings held by Pakistan’s microfinance providers (MFPs) reportedly increased by 19.4 percent from the previous quarter to total PKR 30 billion (USD 282 million). Continue reading

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MICROCAPITAL BRIEF: Ujjivan Financial Services Raises $7.9m from Oikocredit for On-Lending to Microfinance Clients

Ujjivan Financial Services, a Bangalore-based microfinance institution, has raised INR 500 million (USD 7.9 million) of debt capital from Oikocredit, a Dutch cooperative investment fund, for on-lending to microfinance clients in an effort to support economic development in poor Indian communities. Continue reading

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MICROCAPITAL BRIEF: Rizal Microbank of the Philippines Sets Up Eight Mobile Microbusiness Offices (MBOs)

Rizal Microbank, a Philippines-based microfinance subsidiary of Rizal Commercial Banking Corporation (RCBC) that offers microloans, deposits, and microinsurance, reportedly is spending PHP 16,000,000 (USD 367,000) to set up eight mobile microbusiness offices (MBOs) to increase microfinance services in the Philippines [1]. The MBOs, which will be made up of two container vans and run by two bank employees, will allow customers to deposit and withdraw cash and apply for loans without needing to travel to a bank branch [1]. The transactions will be cashless and done through Automated Teller Machines (ATMs) or RCBC’s “My Wallet” debit card [2].

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MICROCAPITAL BRIEF: Indian SKS Trust Advisors Buys 2.7% of SKS Microfinance for $2m, Increasing Stake to 12.6%

SKS Trust Advisors Private Limited, the India-based trustee of five mutual benefit trusts benefiting groups who borrow from SKS Microfinance Limited, reportedly has purchased an additional 2.69 percent of the shares of SKS Microfinance, increasing its stake in the firm to 12.6 percent. Continue reading

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MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $11m to India’s Equitas Microfinance, Satin Credit Care

Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it disbursed loans of INR 450 million (USD 7.2 million) to Equitas Microfinance, a microfinance institution in Chennai, India, and INR 350 million (5.5 million) Satin Credit Care, a microfinance institution in Delhi, India, during August 2013. The purpose of both loans is to support on-lending to microentrepreneurs. It is estimated that 30,000 microenterprises will receive financing as a result of these two wholesale loans. Standard Chartered Bank has been associated with Equitas since 2012 and Satin since 2006. Further information on the loans has not been released. Continue reading

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MICROCAPITAL BRIEF: Bank of Papua New Guinea, Pacific Financial Inclusion Program, Centre for Excellence in Financial Inclusion to Extend Financial Inclusion to 1.6m People in Papua New Guinea by 2015

The Bank of Papua New Guinea (BPNG), the nation’s central bank, the Pacific Financial Inclusion Program (PFIP), a UN-sponsored initiative that provides financial services to poor people, and the Centre for Excellence in Financial Inclusion (CEFI), a coordinating entity for financial inclusion strategies in the country, met in August 2013 to discuss extending financial inclusion to 1.6 million unbanked and underbanked Papua New Guineans, of which 50 percent are low income women, by 2015. Continue reading

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $1m to Transcapital Financial Services (TFS) of Mongolia to Support Micro-, Small, Medium-sized Enterprises

The UK-based European Bank for Reconstruction and Development (EBRD) recently signed a deal with Mongolian microfinance institution (MFI) Transcapital Financial Services (TFS) to provide a local-currency loan of MNT 1.62 billion (USD 1 million) for on-lending to microenterprises throughout Mongolia. Continue reading

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MICROCAPITAL BRIEF: Nepalese Government Mandates Insurance Companies to Provide Microinsurance

The Nepalese government recently issued regulations mandating that insurance companies in the country offer microinsurance policies in an effort to provide access to affordable insurance for poor people. Continue reading

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MICROCAPITAL BRIEF: Australia and New Zealand Banking Group (ANZ), Fiserv Extend Mobile Money Services to Papua New Guinea, Samoa, Solomon Islands, Vanuatu

Australia and New Zealand Banking Group Limited (ANZ), an Australia-based bank, and Fiserv, a US-based financial services technology provider, reportedly have partnered to provide mobile money services to people lacking access to traditional financial services in Papua New Guinea, Samoa, the Solomon Islands and Vanuatu.  Continue reading

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MICROCAPITAL BRIEF: World Bank Group, National Housing Bank, Government of India Sign $100m Agreement for Low-Income Housing Finance Project

The World Bank Group, a US-based international financial institution; the National Housing Bank (NHB), an Indian bank and regulatory authority; and the government of India recently signed a USD 100 million credit agreement for a Low-Income Housing Finance Project, which will aim to improve accessibility to housing loans for low-income households in India to purchase, build or renovate homes. Continue reading

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