MICROCAPITAL BRIEF: Thailand’s Srisawad Money on Wheels Scales Down Microlending to Fresh-market Vendors, Shifts to Truck, Tractor Financing

Srisawad Money on Wheels, a microfinance subsidiary of Thailand’s Bank of Ayudhya, reportedly has scaled down lending to fresh-market vendors and plans to shift its focus to financing tractors and trucks.

MICROCAPITAL BRIEF: State Bank of Pakistan Issues License for U Microfinance Bank to Operate Nationwide

The State Bank of Pakistan (SBP), the nation’s central banking authority, reportedly has issued a national-level microfinance banking license to U Microfinance Bank Limited, a Pakistani microfinance institution (MFI) that was formerly known as Rozgar Microfinance Bank.

MICROCAPITAL BRIEF: International Finance Corporation (IFC), Yes Bank to Create Fund for Small Businesses in India

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with Yes Bank, a commercial bank headquartered in Mumbai, to establish a fund to support small businesses in northeast India.

MICROFINANCE EVENT: International Fund for Agricultural Development (IFAD), World Bank to Host Global Forum on Remittances 2013, May 20-23, 2013, Bangkok, Thailand

Event Name: Global Forum on Remittances 2013

Event Date: May 20-23, 2013

Event Location: United Nations Conference Centre, Bangkok, Thailand

MICROCAPITAL BRIEF: Pakistan Poverty Alleviation Fund (PPAF) Launches Weather-index Microinsurance in Khushab, Chakwal

The Pakistan Poverty Alleviation Fund (PPAF), a public-private partnership, reportedly has launched a weather-indexed microinsurance pilot project covering crop and livestock in the districts of Khushab and Chakwal.

MICROCAPITAL BRIEF: Senate Passes Bill Expanding Types of Foreign Entities that Can Invest Capital in Rural Banks in the Philippines

The Filipino Senate recently approved the third and final reading of a bill to amend the Rural Banks Act, a law governing the creation, organization and operation of rural lenders, to expand the range of foreign entities that can own shares in Filipino institutions licensed as rural banks.

MICROCAPITAL BRIEF: Commercial Credit and Finance of Sri Lanka Issues $2m in Debentures

Commercial Credit and Finance Public Limited Company (PLC), a provider of microfinance and other services in Sri Lanka, reportedly has issued five-year debentures worth a total of LKR 250 million (USD 2 million) to raise money to expand its general and microfinance operations.

MICROCAPITAL BRIEF: Suryoday Micro Finance of India Raises $3.8m from Lok Capital, Aavishkaar, HDFC

Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), is reportedly seeking to increase its customer base by 1 million by 2014 and has raised INR 20 crores (USD 3.8 million) in capital from three of its investors: Aavishkaar Goodwell, a for-profit, Indian-Dutch joint venture; Lok Capital, a Mauritius-based microfinance investment vehicle; and the Housing Development Finance Corporation (HDFC), an India-based housing finance company.

MICROCAPITAL BRIEF: Indian Microlender SKS Microfinance Reports Profits After Seven Quarters of Losses

SKS Microfinance, an Indian microlender listed on the country’s National and Bombay Stock Exchanges, recently reported a net profit of INR 11.5 million (USD 209,000) for the quarter ending December 2012, the first quarterly profits for SKS Microfinance in two years. Loans disbursed rose 14 percent to INR 7.8 billion (USD 142 million).

MICROFINANCE EVENT: Women’s World Banking (WWB) Presents “Pacific Forum 2013: Building Microfinance,” February 28 – March 1, 2013, Auckland, New Zealand

Event Name: Women’s World Banking (WWB) Pacific Forum 2013 “Building Sustainable Microfinance: The Global-Local Experience”

Event Date: February 28 – March 1, 2013

Even Location: Pullman Hotel, Auckland, New Zealand

MICROCAPITAL BRIEF: E-Commerce Companies 360buy, Suning Appliance to Offer Consumption Loans in China to Compete with Alibaba

Chinese electronic commerce (e-commerce) companies 360buy and Suning Appliance reportedly are preparing to enter the lending sector to compete with Alibaba, another Chinese e-commerce corporation that operates a financing company to facilitate its customers’ purchases.

MICROCAPITAL BRIEF: International Finance Corporation Paying $2m for Stake in Arm of Cambodia’s ACLEDA Bank Being Established in Myanmar

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to disburse USD 2 million to ACLEDA Bank, a Cambodia-based commercial bank, to set up a microfinance institution (MFI) in Myanmar.

MICROFINANCE PAPER WRAP-UP: “Map of Microfinance Distribution in India” by Amulya Krishna Champatiray, Parul Agarwal and Santadarshan Sadhu; published by the Centre for Micro Finance (CMF)

By Amulya Krishna Champatiray, Parul Agarwal and Santadarshan Sadhu; published by the Centre for Micro Finance (CMF); 2012; 41 pages; available at: http://www.centre-for-microfinance.com/wp-content/uploads/2012/02/Updated_Final_Report_Map_of_Microfinance_Report_CMF_June27.pdf

This report summarizes the findings of an initiative that gathered information on the portfolios, products and business correspondents of 103 microfinance institutions (MFIs) across India.

MICROCAPITAL BRIEF: Fijian Economist Baljeet Singh Recommends Government, Microfinance Institutions Expand Services to Micro-, Small and Medium-sized Enterprises to Boost Exports, Counter Urbanization

During a recent forum held in the Fijian city of Lautoka, economist Baljeet Singh reportedly called for the public sector to provide technical assistance, training workshops and “low-interest credit” in an effort to develop small and medium-sized enterprises (SMEs).

MICROCAPITAL BRIEF: National Database and Registration Authority to Fund Accidental Death Microinsurance for all Pakistanis

The National Database and Registration Authority (NADRA), the issuer of government identity cards in Pakistan, reportedly has designated the government-owned State Life Insurance Corporation of Pakistan as the low bidder in a procurement process through which NADRA will fund accidental death insurance for all Pakistani citizens.

MICROCAPITAL BRIEF: Microcredit Regulatory Authority (MRA) of Bangladesh Plans to Lower 27% Microcredit Interest Rate Cap

The Microcredit Regulatory Authority (MRA), a Bangladeshi government body that oversees the operations of NGO microfinance institutions (MFIs), reportedly has announced plans to cut the maximum interest rate MFIs are allowed to charge to an unspecified level.