MICROCAPITAL BRIEF: Government of Canada, International Finance Corporation (IFC) Support Small, Medium-sized Agricultural Enterprises in Ukraine

The Department of Foreign Affairs, Trade and Development Canada (DFATD) recently informed MicroCapital that the government of Canada and the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, plan to work together to provide an unspecified level of financial support and technical advice to small and medium-sized agricultural enterprises in Ukraine. Continue reading

MICROCAPITAL BRIEF: Rwanda’s Ministry of Finance and Economic Planning (MINECOFIN), Access to Finance Rwanda (AFR), Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW) Launch $4m Microfinance Challenge Fund to Support Microfinance Institutions (MFIs)

The Ministry of Finance and Economic Planning of Rwanda (MINECOFIN), the Rwandan government’s authority on finance; Access to Finance Rwanda (AFR), a Kigali-based investment company that promotes financial inclusion in Rwanda; and Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a German development bank, recently have launched the Microfinance Challenge Fund Rwanda (MCFR), which will deploy EUR 3 million (USD 3.98 million) as loans to support microfinance institutions (MFIs) in Rwanda. Continue reading

MICROCAPITAL BRIEF: Green for Growth Fund, Southeast Europe (GGF) Lends $20m to Yapi Kredi Leasing of Turkey to Support Use of Energy-Efficient Equipment

The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources in Southeast Europe, has loaned EUR 15 million (USD 19.9 million) to Yapi Kredi Leasing, a Turkey-based subsidiary of Turkey’s Yapi Kredi Bank, with the aim of expanding Yapi Kredi’s “sustainable long-term energy efficient equipment financing.” Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan $150m in Jordan Including to Bank Al Etihad, Cairo Amman Bank for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering setting up a senior unsecured credit facility in the amount of USD 150 million for banks in Jordan for on-lending to micro-, small and medium-sized enterprises (MSMEs). Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan Morocco’s Banque Centrale Populaire (BCP), Affiliates $133m for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering disbursing a loan of up to EUR 100 million (USD 133 million) to Banque Centrale Populaire, a member of the Moroccan mutual banking group Groupe Banque Centrale Populaire (GBCP), as well as to 10 affiliated “regional popular banks”[1]. Continue reading

MICROCAPITAL BRIEF: Reserve Bank of India (RBI) to Encourage Banks to Deploy Rural Automatic Teller Machines (ATMs), Use Unclaimed Funds for Financial Education

The Reserve Bank of India (RBI), the country’s central banking authority, reportedly has initiated a program under which banks are requested to install an unspecified number of automatic teller machines (ATMs) in rural areas that will dispense bank notes in relatively small denominations. Continue reading

MICROCAPITAL BRIEF: India’s Insurance Regulatory and Development Authority (IRDA) to Revise Microinsurance Product Structure in Effort to Encourage Growth of Industry

The Insurance Regulatory and Development Authority (IRDA), the government agency charged with overseeing India’s insurance market, reportedly is set to release revised guidelines on the structure and features of microinsurance products in order to allow insurance companies to incentivize third-party institutions to sell the products. Continue reading

MICROCAPITAL BRIEF: Grameen-Jameel Microfinance Donates $1m to Kiva Partnership “Change is in Your Hands,” Supporting Microlenders in Middle East, North Africa; Offers Additional $1m in Matching Funds

Kiva, a US-based nonprofit crowdfunding organization that raises money for microfinance institutions (MFIs), and Grameen-Jameel Microfinance Limited, a Cyprus-based nonprofit joint venture of the US-based Grameen Foundation and Saudi Arabia-based Abdul Latif Jameel Community Initiatives, have reportedly entered into a partnership to launch the “Change is in Your Hands” campaign, an initiative which uses the website http://www.kiva.org/middleeast to support lending initiatives that will provide financing to entrepreneurs in the Middle East and North Africa. Continue reading

MICROCAPITAL BRIEF: Financial Supervisory Commission (FSC) of Taiwan Encourages Banks to Reduce Microcredit Transaction Fees

The Financial Supervisory Commission (FSC) of Taiwan, the government agency charged with regulating the island’s insurance and banking sectors, reportedly has encouraged banks to reduce the fees they charge on microcredit loans in Taiwan. Continue reading

MICROCAPITAL BRIEF: Philippine Long Distance Telephone Company Purchases 10% Equity Stake in Rocket Internet for $445m with Eye on Mobile Payments

The Philippine Long Distance Telephone Company (PLDT), a Philippines-based telecommunications company, reportedly has purchased a 10-percent stake in Rocket Internet, a Germany-based web service provider and e-commerce investment firm, for EUR 333 million (USD 445 million). Continue reading

MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Ghana Partners with Microfinance Institutions (MFIs) in Ghana to Improve Mobile Money Systems

Mobile Telecommunications Network (MTN) Ghana, the Ghanaian arm of South Africa-based MTN, reportedly has partnered with several unspecified microfinance institutions (MFIs) in Ghana to allow the MFIs’ customers to use the MTN Mobile Money service to make loan payments. Continue reading

MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) to Loan $100m to El Salvador for On-Lending to Micro-, Small and Medium-sized Enterprises (MSMEs)

The Inter-American Development Bank (IDB), a US-based multilateral finance institution operating in Latin America and the Caribbean, reportedly has approved a loan of USD 100 million to promote lending to micro-, small and medium-sized enterprises (MSMEs) in El Salvador. Continue reading

MICROCAPITAL BRIEF: World Bank Group Donating $22m to, Investing $2m in Agriculture Commercialization in Tajikistan

The International Development Association (IDA), the arm of the World Bank Group (WBG) that offers interest-free credits and grants to the world’s 82 poorest countries, is planning to disburse a grant of USD 22 million to support the “Tajikistan Agriculture Commercialization Project”[1] of the government of Tajikistan. Continue reading