Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Microfinance Institutions Network (MFIN) Asks Reserve Bank of India (RBI) to Assist in Recovering Loans Outstanding in Andhra Pradesh

Microfinance Institutions Network (MFIN), a trade association of 46 Indian microfinance lenders, reportedly has requested that the Reserve Bank of India (RBI) intervene on behalf of microlenders attempting to collect INR 7,000 crore (USD 1.36 billion) in loans outstanding in the Indian state of Andhra Pradesh. Continue reading

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MICROCAPITAL BRIEF: Lok Capital, Proparco Invest $5m in Equity in India’s IFMR Rural Channels and Services

Lok Capital LLC, a Mauritius-based microfinance investment vehicle, and its Proparco, a French development finance institution, have recently invested INR 260 million (USD 5 million) in equity in the Institute for Financial Management and Research (IFMR) Rural Channels and Services, a company of IFMR Trust that provides financial services in rural India. Continue reading

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MICROCAPITAL BRIEF: Bangladesh Government Declines to Have Muhammad Yunus Recruit New Managing Director of Microfinance Institution Grameen Bank

After a wait of several months, the government of Bangladesh reportedly has vetoed a suggestion made in 2011 by the board of Grameen Bank to task Dr Muhammad Yunus, founder of the bank, with finding a managing director for it. Continue reading

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MICROCAPITAL BRIEF: Wokai Raises $873k for Microfinance Lending in Rural China

Wokai, a US-based online microfinance fundraising platform launched in 2007, has reportedly raised donations totaling CNY 5.5 million (USD 873,000) to be disbursed in loans to approximately 900 people via two Chinese microfinance institutions (MFIs), the Association for Rural Development of Yilong Country (ARDY) in Sichuan and the Chifent Zhaowuda Women’s Sustainable Development Association (CZWSDA) in Inner Mongolia. Continue reading

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MICROCAPITAL BRIEF: Chinese Government Establishes 12 Goals to Improve Local Capital Markets, Access to Finance for Private Small and Medium-Sized Enterprises

The Chinese government’s State Council recently identified 12 measures to improve local capital markets, Chinese financial institutions and access to finance for Chinese private enterprises that are small and medium-sized. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Lends $75m to Yes Bank of India to Increase Funding for Small Businesses, Farms in India

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently announced it will be lending USD 75 million to India’s Yes Bank, a commercial bank headquartered in Mumbai, to support its on-lending activities to small and medium-sized enterprises and agricultural clients. Continue reading

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MICROCAPITAL BRIEF: Nepal Rastra Bank (NRB) to Increase Number of Bank Branches in Remote Areas

Nepal Rastra Bank (NRB), the central bank of Nepal, reportedly has announced that financial institutions will be allowed to open new branches in the capital of Kathmandu “only after they open a branch outside Kathmandu and one in any of the 30 districts recognised by NRB as deprived of any banking facility.” Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $25m in Indian Equity Firm BanyanTree, Investor in SMEs

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly plans to invest up to USD 25 million in India-based private equity firm BanyanTree Capital Advisors Limited, and investor in small and medium-sized enterprises (SMEs) in India. Continue reading

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