Category: South Asia, East Asia and Pacific

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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MICROCAPITAL BRIEF: Microinsurance Reaches 3m in the Philippines, More Expansion Predicted in Microcredit as Commercial Banks Enter Microfinance

According to a report attributed to the Insurance Commission of the Philippines, a government body regulating the country’s insurance industry, the microinsurance program launched in 2010 has contributed to 3.1 million Filipinos having acquired insurance coverage. Continue reading

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MICROCAPITAL BRIEF: Reserve Bank of India Extends Deadline for New Provisioning, Asset Classification Norms for Non-Banking Finance Company Microfinance Institutions

The Reserve Bank of India (RBI), India’s central banking authority, has extended the deadline for non-banking finance company (NBFC) microfinance institutions (MFIs) in India to implement new provisioning and asset classification norms. Continue reading

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MICROCAPITAL BRIEF: Mobile Handset Initiated Transactions (mHITs) of Australia Expands Remittance Service to the Philippines

Australian micropayment service provider Mobile Handset Initiated Transactions (mHITs) announced that it has partnered with micropayment service provider GCash to deploy an “international remittance corridor to the Philippines” that allows account holders in Australiato send funds to mobile wallet users in the Philippines. Continue reading

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MICROCAPITAL BRIEF: Industrial and Commercial Bank of China Limited (ICBC) to Loan $38b to Micro- and Small Enterprises within Three Years

The Industrial and Commercial Bank of China Limited (ICBC), a government-owned bank in China, reportedly has announced plans to increase its lending to micro- and small enterprises (MSEs) by CNY 240 billion (USD 38 billion) within three years. Continue reading

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