As Indian microfinance institution (MFI) SKS Microfinance prepares to resume operations in the Indian state of Andhra Pradesh under a recent Supreme Court order, the Andhra Pradesh state government is moving to challenge the Supreme Court’s decision.
The Overseas Private Investment Corporation (OPIC), a development finance institution backed by the US government, recently finalized a USD 5 million loan to Thaneakea Phum Cambodia Limited (TPC), a Cambodian microfinance institution (MFI).
Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI) focusing on urban areas, and Manipal Global Education Services, a subsidiary of India-based Manipal Education and Medical Group, reportedly have launched the Janalakshmi-Manipal Institute of Financial Inclusion (JMIFI), which offers a three-week training program for newly hired JFS employees.
World Vision International, a US-based Christian humanitarian organization, and its subsidiary VisionFund International, a US-based nonprofit organization, have supplied microfinance loans to 400 families supplement initiatives to increase access to clean water in Sri Lanka.
The government of India reportedly has plans to create a bank that will exclusively serve women, lending mostly to women-run businesses as well as self-help groups of a dozen or a few dozen women.
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has invested USD 28 million in Bhutan National Bank, a publicly owned commercial bank, to increase its lending to micro-, small and medium-sized enterprises.
The Indian Supreme Court has issued an interim order allowing Indian microfinance institution (MFI) SKS Microfinance to operate in the state of Andhra Pradesh without securing no-objection certificates from the state government.
Bank Alfalah Limited (BAFL), a Pakistani financial institution owned by the Abu Dhabi Group of the United Arab Emirates (UAE), reportedly has partnered with two other Pakistani holdings of the same group, telecommunication services provider Warid Telecom and financial services company Monet Private Limited, to offer mobile financial services in Pakistan.
The government of the Indian state Karnataka recently launched the Mysore City Street Vendors Multipurpose Cooperative Society to provide microloans to street vendors unable to qualify for traditional bank loans.
BRAC, a development organization formerly known as the Bangladesh Rehabilitation Assistance Committee, has adapted two strategies traditionally used in its microcredit initiatives to promote the organization’s efforts to address issues involving clean water and sanitation in Bangladesh through its Water, Sanitation and Hygiene (WASH) programme.
Developpement international Desjardins (DID), the development subsidiary of Canadian cooperative institution Desjardins Group, recently disbursed a USD 500,000 loan to the Cambodia Community Savings Federation (CCSF), a financial cooperative network that serves approximately 30 financial institutions holding assets of USD 7 million in Cambodia.
Khan Bank, a Mongolian provider of microfinance and other services, recently launched its “Welcome to the E-Banking World” campaign to provide information about E-banking services, such as payment services available via the internet and mobile phones.
“Microfinance Mapping Project – Uganda;” published by Haverford College; 2012; 10 pages; available at: http://ds.haverford.edu/wp/mappingmicrofinance/files/2012/07/Microfinance-Mapping-Project-Uganda.pdf
The National Economic Development Authority (NEDA), an agency of the government of the Philippines responsible for development and planning, is reportedly urging microfinance institutions (MFIs) in the country to tap into remittances from overseas Filipino workers as a source of funding.
Indian non-banking financial company (NBFC) Grameen Financial Services Private Limited, also known as Grameen Koota, recently received INR 532 million (USD 9.8 million) in its third round equity funding from Beligium-based investment company Incofin, Italy-based private equity firm MicroVentures, Indian-Dutch joint venture Aavishkaar Goodwell, and US-based for-profit company Creation Investments.
Telenor Group, a Norwegian mobile services provider, reportedly expressed concerns about the ongoing dispute over the ownership of social businesses historically linked with Grameen Bank, a Bangladeshi microfinance institution (MFI).
Published by Global System for Mobile Communications Association’s mWomen Global Development Alliance, Visa and Bankable Frontier Associates; 2013; 40 pages; available at: http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/02/GSMA-mWomen-Visa_Unlocking-the-Potential_Feb-2013.pdf
This report analyzes connections between mobile financial services and women’s financial inclusion in the developing world.
The Asian Development Bank (ADB), a multilateral finance institution based in the Philippines, reportedly has partnered with Standard Chartered Bank, a financial services company based in the United Kingdom, to increase access to financial services for poor people in Asia.