MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $300m in Equity in Postal Savings Bank of China (PSBC)

The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, recently announced that it has made an equity investment of USD 300 million in Postal Savings Bank of China (PSBC), a bank backed by the government of China. Continue reading

MICROCAPITAL BRIEF: ASN-Novib Microcredit Fund Goes Public on Euronext Stock Exchange

The ASN-Novib Microcredit Fund [EUR 54.07 -0.02%] [1], which is managed by the Algemene Spaarbank voor Nederland (ASN Bank), a Dutch bank, and Oxfam Novib, the Dutch branch of UK-based NGO Oxfam International, recently went public on Euronext, a stock exchange in the Dutch city of Amsterdam [2][3]. Continue reading

MICROCAPITAL BRIEF: Nepal Rastra Bank Requires Microfinance Institutions (MFIs) to Create Client Protection Fund

Nepal Rastra Bank (NRB), the country’s central bank, recently announced that it is requiring microfinance institutions (MFIs) in the country to establish a “Client Protection Fund”[1] to which they must deposit 1 percent of their annual net profit. Continue reading

MICROFINANCE EVENT: 6th Annual Africa Banking and Finance Conference, May 31 – June 2, 2016, Accra, Ghana NEW DATES

Event Name: 6th Annual Microfinance Africa Banking and Finance Conference

Event Dates: May 31 – June 2, 2016 NEW DATES

Event Location: Accra, Ghana

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MICROCAPITAL BRIEF: FMO Disburses $10m to VisionFund International to Support Inclusive Finance in Africa

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership that aims to promote growth in developing economies, recently announced that it will disburse a five-year loan of USD 10 million to VisionFund International, a US-based affiliate of the Christian humanitarian organization World Vision International, aiming to support female clients and clients in rural areas via microfinance organizations (MFIs) in VisionFund’s network. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Sells Dai-ichi Life Insurance $100m in Microfinance Bonds

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, recently announced that it has sold ten-year microfinance bonds valued at MXN 1.7 billion (USD 100 million) to Japan’s Dai-ichi Life Insurance Company, a firm that offers life, property and casualty insurance as well as investment trust and related services. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Sells Dai-ichi Life Insurance $100m in Microfinance Bonds Posted in Deals

MICROCAPITAL BRIEF: United Nations Development Program (UNDP); United Nations Capital Development Fund (UNCDF) Support Bank of Sierra Leone in Launching Mobile Financial Services Guidelines

The Bank of Sierra Leone, the central bank of the country, has partnered with United Nations Development Program (UNDP), a member of the UN that invests knowledge and other resources into developing countries, and United Nations Capital Development Fund (UNCDF), a UN agency that works to increase access to microfinance and other forms of capital in developing countries, to launch the first mobile financial services guidelines in Sierra Leone [1]. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: United Nations Development Program (UNDP); United Nations Capital Development Fund (UNCDF) Support Bank of Sierra Leone in Launching Mobile Financial Services Guidelines Posted in Africa, Mobile Money, Regulation, Transparency

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $22m to Odeabank to On-Lend to Micro-, Small Enterprises (MSEs) in Turkey

The European Fund for Southeast Europe (EFSE), a Luxembourg-based fund that invests in the development of Southeast Europe and Central Asia’s financial sectors, recently provided Odeabank, a private deposit bank in Turkey, a loan of EUR 20 million (USD 21.86 million) to on-lend to micro and small-sized enterprises (MSEs) in Turkey [1]. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Acquires 15% Equity Stake in Myanmar-based Microfinance Institution (MFI) Fullerton Finance for $1.2m

The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, recently announced that it has made an equity investment of USD 1.2 million in Fullerton Finance (Myanmar) Company Limited, a microfinance institution (MFI) that lends to micro-, small and medium-sized enterprises (MSMEs) and low-income individuals in Myanmar. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), Tbilisi Business Center (TBC) Bank Georgia Partner to Fund Micro-, Small Enterprises (MSEs); Agricultural Producers

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a subordinated loan of USD 15 million to Tbilisi Business Center (TBC) Bank, a Tbilisi, Georgia-based commercial bank, to support access to financing for micro- and small enterprises (MSEs) as well as agricultural producers in rural areas of Georgia. TBC will be EFSE’s fifth partner lending institution in Georgia [1]. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), Tbilisi Business Center (TBC) Bank Georgia Partner to Fund Micro-, Small Enterprises (MSEs); Agricultural Producers Posted in Deals, Eastern Europe and Central Asia

MICROCAPITAL BRIEF: Opportunity International Selling 6 Banks in Sub-Saharan Africa to Financial Technology Company MyBucks

Opportunity International, a microfinance NGO based in the US city of Chicago, has announced that it intends to sell six of its banks that are located in unspecified sub-Saharan Africa to MyBucks Group, a financial technology company in Luxembourg. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Opportunity International Selling 6 Banks in Sub-Saharan Africa to Financial Technology Company MyBucks Posted in Africa, Deals

MICROCAPITAL BRIEF: Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise), Arab Tunisian Lease Partner to Mobilize $5m for 750 Firms in Tunisia

The Sanad Fund for MSME, a Luxembourg-based public-private partnership that provides medium- and long-term debt and equity financing in the Middle East and North Africa, and Arab Tunisian Lease (ATL), a Tunisia-based company that provides lease financing for equipment, vehicles and real estate, signed a senior loan agreement for USD 5 million to support micro-, small and medium-sized enterprises (MSMEs) in Tunisia. This funding is slated to expand ATL’s portfolio by an additional 750 MSMEs. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise), Arab Tunisian Lease Partner to Mobilize $5m for 750 Firms in Tunisia Posted in Africa, Deals

MICROCAPITAL BRIEF: FinMark Trust, Centre for Financial Regulation & Inclusion, The MasterCard Foundation to Create “insight2impact” Data Facility to Assess Banking Needs of Poor People

The FinMark Trust, a nonprofit that promotes financial inclusion and regional financial integration; the Centre for Financial Regulation & Inclusion (CENFRI), a nonprofit affiliated with FinMark Trust; and The MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard, recently have announced that they will launch a joint data facility named “insight2impact” (i2i). Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: FinMark Trust, Centre for Financial Regulation & Inclusion, The MasterCard Foundation to Create “insight2impact” Data Facility to Assess Banking Needs of Poor People Posted in Risks, Transparency

MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $11m to Banco Ademi for On-Lending to MSMEs in Dominican Republic; $139m to Caribbean Governments for Climate Finance, Energy Projects

The European Investment Bank (EIB), the long-term lending institution of the European Union (EU), recently has pledged to loan EUR 10 million (USD 10.8 million) to Banco Ademi, a banking institution in the Dominican Republic, for on-lending to micro-, small and medium-sized enterprises (MSMEs) in the country. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: European Investment Bank (EIB) Loans $11m to Banco Ademi for On-Lending to MSMEs in Dominican Republic; $139m to Caribbean Governments for Climate Finance, Energy Projects Posted in Deals, Latin America

MICROCAPITAL BRIEF: International Labor Organization’s (ILO’s) Impact Insurance Facility, Africa Reinsurance Corporation (Africa Re) Partner to Promote African Microinsurance

The Impact Insurance Facility (IIF) of the International Labor Organization (ILO), an agency of the United Nations, and Africa Reinsurance Corporation (Africa Re), a Nigeria-based corporation that assists reinsurance institutions and invests in the African insurance sector, have agreed to partner to promote inclusive microinsurance markets for the financially excluded population in Africa[1]. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: International Labor Organization’s (ILO’s) Impact Insurance Facility, Africa Reinsurance Corporation (Africa Re) Partner to Promote African Microinsurance Posted in Africa, Deals, Microinsurance

MICROCAPITAL BRIEF: Safaricom, MTN Rwanda Partner to Enable Transactions Between Kenya’s M-Pesa, MTN Mobile Money

Safaricom, a Kenya-based telecommunications company, recently has partnered with MTN Rwanda, the Rwandan branch of South Africa-based multinational telecommunications provider Mobile Telecommunications Network Group (MTN), to enable cross-border transactions. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: Safaricom, MTN Rwanda Partner to Enable Transactions Between Kenya’s M-Pesa, MTN Mobile Money Posted in Africa, Mobile Money, Technology

MICROFINANCE PUBLICATION ROUND-UP: Islamic Banking and Growth; Sharia-Compliant Microfinance Products; Islamic Financial Services in Yemen

“Is Islamic Banking Good for Growth?”; by Patrick Imam and Kangni Kpodar; published by the International Monetary Fund; April 2015; 33 pages; available at: http://www.microfinancegateway.org/library/islamic-banking-good-growth

This paper analyzes the relationship between the development of Islamic banking and economic growth in low- and middle-income countries, finding that “countries where Islamic banking is present experience faster economic growth than others” [1]. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $3m to Microfinance Organization Crystal of Georgia for On-Lending to Smallholder Agricultural Producers; Rural Microenterprises

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a loan of USD 3 million to Joint Stock Company Microfinance Organization Crystal, a microfinance institution based in Kutaisi, Georgia. Continue reading

Written by Comments Off on MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $3m to Microfinance Organization Crystal of Georgia for On-Lending to Smallholder Agricultural Producers; Rural Microenterprises Posted in Deals, Eastern Europe and Central Asia