Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: International Finance Corporation, Bank of Shanghai Launch $80m Loan, Advisory Program Supporting Energy Upgrades for Small, Medium-sized Enterprises

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has provided a finance facility totaling CNY 500 million (USD 80 million) to China’s Bank of Shanghai to on-lend to energy-efficiency and renewable-energy projects among small and medium-sized enterprises (SMEs) in China. Continue reading

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MICROCAPITAL BRIEF: US-Based Sequoia Capital Invests $2m in Equity in Electronic Payment Platform, Citrus Pay

Citrus Pay, a Mumbai-based digital payments service provider, and Ezetap Mobile Solutions, a Bangalore-based mobile payments service provider, have developed electronic payment platforms that address internet security and connectivity challenges, both of which have discouraged Indian consumers from using digital payment methods. Continue reading

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MICROCAPITAL BRIEF: Stree Nidhi to Loan $308m to Self-help Groups in Indian State of Andhra Pradesh in 2013

Stree Nidhi Credit Cooperation Federation Limited, a microfinance bank established by the government of the Indian state of Andhra Pradesh, recently agreed to loan INR 16.9 billion (USD 308 million) to self-help groups (SHGs) in Andhra Pradesh during the fiscal year ending March 2014. Continue reading

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MICROCAPITAL BRIEF: Indian Microfinance Institutions Cashpor, Utkarsh Use Technology to Improve Efficency

Nonprofit Indian microfinance institution (MFI) Cashpor Micro Credit and Indian non-banking finance company (NBFC) Utkarsh Microfinance Private Limited each have implemented technology-based procedures to improve efficiency. Continue reading

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MICROCAPITAL BRIEF: Equitas, Ujjivan of India Each Borrow $10m from International Finance Corporation (IFC)

The International Finance Corporation (IFC), the private-arm of the World Bank Group, reportedly has announced it will lend USD 10 million in commercial funds each to Indian microfinance institutions (MFIs) Equitas and Ujjivan Financial Services. Continue reading

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MICROCAPITAL BRIEF: Royal Bank of Scotland (RBS) Sells 4.6% Stake of SKS Microfinance to Merrill Lynch Capital Markets Espana for $12m

The Royal Bank of Scotland Group (RBS), a banking and insurance company with operations in Europe, North America and Asia, reportedly has sold its 4.6-percent stake in SKS Microfinance, an Indian microfinance institution, through the open market to Merrill Lynch Capital Markets Espana, a subsidiary of US-based Bank of America. Continue reading

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MICROFINANCE PUBLICATON ROUND-UP: Drivers of Over-Indebtedness in Cambodia, Accelerating Impact Investing, Mobile Banking in Tanzania

“Study on the Drivers of Over-Indebtedness of Microfinance Borrowers in Cambodia: An In-depth Investigation of Saturated Areas;” by Dannet Liv; published by BlueOrchard Microfinance Investment Management, Incofin Investment Management, Oikocredit; March 2013; 83 pages; available at: http://www.blueorchard.com/jahia/webdav/site/blueorchard/shared/Publications%20and%20Resources/News%20%26%20Press%20releases/OID-Final%20Report.pdf

This report presents an analysis of the factors that drive microfinance borrowers in Cambodia to take on excessive levels of debt. Continue reading

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MICROCAPITAL BRIEF: Bangko Sentral ng Pilipinas (BSP) Raises Maximum Microbanking Office Savings Balance to $968

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, reportedly has increased the maximum allowable account balance for savings accounts at microbanking offices (MBOs) to PHP 40,000 (USD 968) from PHP 15,000 (USD 363). Continue reading

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MICROCAPITAL BRIEF: Microfinance Information Exchange Updates Online Funding Structure Database

The US-based nonprofit Microfinance Information Exchange (MIX) has updated its database on the debt owed by microfinance institutions (MFIs) to include 2011 data from 700 MFIs. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation Places $22m Equity Investment In Ratnakar Bank of India

The International Finance Corporation, a member of the World Bank Group, has made an equity investment of USD 22 million in Ratnakar Bank, a private commercial bank in India, to promote Ratnakar’s efforts to increase access to finance for women in rural areas and agricultural micro-, small and medium-sized businesses, and is reportedly part of INR 3.2 billion (USD 59.3 million) in equity raised by Ratnakar through the issuance of 30 million new shares since January 2013. Continue reading

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MICROCAPITAL BRIEF: Muthoot Fincorp of India to Offer $19m in Non-Convertible Debentures to Fund Continued Diversification from Gold Loans to Microfinance

Muthoot Fincorp Limited, an Indian non-banking finance company (NBFC), recently announced plans to sell INR 1 billion (USD 18.6 million) in non-convertible debentures (NCBs) to fund its expansion into the small and medium-sized enterprises (SMEs) and microfinance as a means of diversifying away from gold loans. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Muthoot Fincorp of India to Offer $19m in Non-Convertible Debentures to Fund Continued Diversification from Gold Loans to Microfinance Posted in South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Insurance Regulatory and Development Authority (IRDA) of India Expands Allowable Microinsurance Agent Entity Types

The Insurance Regulatory and Development Authority (IRDA), the regulatory body of the insurance industry in India, recently issued a circular expanding the types of entities eligible to serve as microinsurance agents and clarifying existing regulations that bar multiple microinsurance agents from employing the same individuals. Continue reading

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MICROCAPITAL BRIEF: Utkarsh Raises $3.7m in Equity from Aavishkaar Goodwell, International Finance Corporation, Norwegian Microfinance Initiative

Utkarsh Micro Finance Private Limited (Utkarsh), an Indian microfinance institution (MFI), reportedly has received an INR 200 million (USD 3.7 million) equity investment from Norwegian Microfinance Initiative (NMI) Frontier Fund, which provides technical and financial support to “emerging” microfinance institutions under the management of the public-private partnership NMI; Aavishkaar Goodwell India Microfinance Development Company (AG), an Indo-Dutch for-profit investor in Indian MFIs; and the International Finance Corporation, the private-sector investment arm of the World Bank Group. Continue reading

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Written by Comments Off on MICROCAPITAL BRIEF: Utkarsh Raises $3.7m in Equity from Aavishkaar Goodwell, International Finance Corporation, Norwegian Microfinance Initiative Posted in South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Nationwide Microbank of Papua New Guinea Launches MiLife Mobile Life Microinsurance

Nationwide Microbank, a microfinance institution (MFI) in Papua New Guinea, recently launched MiLife, a mobile microinsurance product covering the life of low-income married couples. Continue reading

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MICROCAPITAL BRIEF: Caspian Advisors Launches $40m Caspian Impact Investments (CII) Fund for Microfinance, Affordable Housing, Agriculture

Caspian Advisors Private Ltd., an Indian investment management and advisory services company specializing in the socially-responsible arena, recently launched the Caspian Impact Investments (CII) fund, which is targeted to raise USD 40 million for projects in the areas of microfinance, small business financing, affordable housing and agriculture. Continue reading

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