Category: South Asia, East Asia and Pacific

MICROCAPITAL BRIEF: Microinsurance Innovation Facility: Market Reaches 500m People, 60% in India

According to a report titled “Protecting the Poor a Microinsurance Compendium” that was recently published by the Microinsurance Innovation Facility, an initiative of the UN’s International Labor Organization (ILO) and Munich Re, a German reinsurance company, the total market for microinsurance reached 500 million people with the largest shares in India and China. Continue reading

Share

MICROFINANCE BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Issues $1.25m Loan to Hattha Kaksekar Limited of Cambodia, $800k to Alide of Benin

The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued a loan of USD 1.25 million with a three-year term and a one-year grace period to Hattha Kaksekar Limited (HKL), a Cambodian microfinance institution (MFI). Continue reading

Share

MICROFINANCE PUBLICATION ROUND-UP: Disclosure Regimes for Responsible Financial Inclusion; The Thailand Village and Urban Revolving Fund; “Microsavings Works Much Better”

Designing Disclosure Regimes for Responsible Financial Inclusion,” by Jennifer Chien; published by CGAP (Consultative Group to Assist the Poor); March 2012; 23 pages; available at:
http://www.cgap.org/gm/document-1.9.57109/FN_78.pdf Continue reading

Share

MICROCAPITAL BRIEF: International Finance Corporation (IFC), SANASA Insurance to Provide Microinsurance to Farmers in Sri Lanka

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with Sri Lankan microinsurance company SANASA (Thrift, Credit and Cooperative Society in Sinhala) Insurance to “develop flexible, affordable, weather-based agricultural insurance products in Sri Lanka to minimize the impact of crop losses due to floods or droughts.” Continue reading

Share

MICROCAPITAL BRIEF: RBI Wants Microfinance Institution Deposit-Taking Cut From Micro Financial Sector Bill

Deputy Governor Anand Sinha of the Reserve Bank of India (RBI), India’s central banking authority, reportedly announced in a budget speech that RBI does not support allowing microfinance institutions (MFIs) to take deposits from clients. Continue reading

Share

MICROCAPITAL BRIEF: Grameen-Jameel Loans $1.5m to Jordan Micro Credit Company (Tamweelcom)

Grameen-Jameel Microfinance Limited, a joint venture of the US-based Grameen Foundation and the UK-based Abdul Latif Jameel Foundation, reportedly has provided a loan of USD 1.5 million to the Jordan Micro Credit Company (Tamweelcom), a Jordan-based microfinance institution (MFI). Continue reading

Share

MICROCAPITAL BRIEF: Bangladeshi Government to Investigate Muhammad Yunus, Social Businesses Associated With Microfinance Institution Grameen Bank

Bangladesh Finance Minister A M A Muhith reportedly has announced that the national government “will form a commission to ensure ‘accountability’ of the Grameen social businesses run by Nobel peace laureate Muhammad Yunus.” Continue reading

Share

MICROCAPITAL BRIEF: Waseela Microfinance Bank of Pakistan to Commence Operations With $11m in Backing from Egypt’s Orascom Telecom

Waseela Microfinance Bank, a microfinance bank (MFB) in Pakistan, reportedly has been authorized by the State Bank of Pakistan (SBP), the central banking authority of Pakistan, to commence operations and will begin providing financial services nationwide in the upcoming weeks. Continue reading

Share

MICROCAPITAL BRIEF: Philippine Prudential Life Insurance Company Records Increase in Paid Microinsurance Claims, Premiums

The Philippine Prudential Life Insurance Company, a Philippines-based financial services provider, reportedly announced that its payments for microinsurance claims have increased by 784 percent from PHP 2.49 million (USD 58,400) in 2010 to PHP 22 million (USD 516,000) in 2011. Continue reading

Share

MICROCAPITAL BRIEF: Bamboo Finance, ZS Associates Co-Founder Invest $4m in Equity in Greenlight Planet to Boost Research, Distribution Network of LED Lamps in Rural India

Bamboo Finance, a Switzerland-based investment firm, and Dr PK Sinha, co-founder of US-based consulting firm ZS Associates, recently invested a total of INR 206 million (USD 4 million) in equity in Greenlight Planet, an Indian company that aims to provide “low-cost” energy products to low-income households in emerging markets. Continue reading

Share

MICROCAPITAL BRIEF: Insurance Regulatory Authority of Nepal Beema Samiti Announces Insurance Companies to Offer Microinsurance to Individuals, Agribusinesses

Beema Samiti, Nepal’s insurance regulatory authority, reportedly has announced that a microinsurance program is expected to be extended to individuals and microenterprises in Nepal in May 2012 by private insurers. Continue reading

Share

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $15m to Microfinance Institution AccessBank of Azerbaijan for Micro-, Small and Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development, a financial institution headquartered in London, recently signed an agreement to loan USD 15 million to AccessBank, a microfinance institution in Azerbaijan. Continue reading

Share

MICROCAPITAL BRIEF: IKEA Foundation Donates $39m to United Nations Development Program’s “Swaayam” Women’s Empowerment Program in India

The IKEA Foundation, a charitable foundation affiliated with Dutch furniture retailer IKEA, recently committed a donation of EUR 30 million (USD 39 million) to Swaayam, a pilot program that aims to boost the social, political and economic empowerment of poor women in India. Swaayam provides women with financial, literacy and leadership education as well as accessing microloans through self-help groups. Continue reading

Share