MICROCAPITAL BRIEF: World Bank’s International Development Association (IDA) to Loan $60m for Affordable Housing in Tanzania

The Board of Executive Directors of the World Bank Group has approved USD 60 million in new financing to be disbursed by the International Development Association (IDA), a lending arm of the World Bank, to support its ongoing Housing Finance Project (HFP) in Tanzania, which seeks to support affordable housing in the urbanizing country by providing “medium- and long-term liquidity to lenders.” Continue reading

MICROCAPITAL BRIEF: EFSE Loans $20m to AccessBank to Finance Micro-, Small Enterprises (MSEs) in Rural Azerbaijan

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently issued a USD 20 million senior loan to AccessBank, an organization founded in 2002 to provide credit and other financial services to smaller businesses and low-income families in Azerbaijan. Continue reading

MICROFINANCE EVENT: Caribbean MicroFinance Alliance (CMFA) to Host “Sixth Caribbean Microfinance Forum (CMF VI): Solutions for Inclusive Growth;” July 6-9, 2015; Miami, Florida, USA

Event Name: The Sixth Caribbean Microfinance Forum: Solutions for Inclusive Growth

Event Date: July 6-9, 2015

Event Location: Doubletree by Hilton Hotel, Miami Airport & Convention Centre; Miami, Florida, United States of America

Cost: The fee to attend the forum is USD 600. A reduced rate of USD 475 is available for attendees who register by April 1, 2015, and a discounted rate of USD 200 is available for one-day registration.

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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loaning $2.5m to La Fayette Microfinance Bank, Nigerian Member of Advans Network

The International Finance Corporation (IFC), a member of the World Bank Group, is investing NGN 400 million (USD 2.5 million) in La Fayette Microfinance Bank, one of eight members of the Advans Network of microfinance institutions, which is based in Luxembourg and managed by Horus Development Finance of France. Continue reading

MICROCAPITAL BRIEF: Microfinance Software Provider Mambu Links with NCC Group to Offer 90 Days of Business Continuity in Case of Catastrophic Failure of its Software-as-a-Service

Mambu, a Germany-based provider of off-site management information systems to microfinance institutions (MFIs), recently engaged the NCC Group, a US-based provider of security services relating to technology and intellectual property, to provide redundancy to Mambu customers in case of a failure of its software-as-a-service “cloud” systems. Continue reading

MICROFINANCE EVENT: Mobile Money and Digital Payments Americas; March 24-25, 2015; Mexico City, Mexico

Event Name: Mobile Money & Digital Payments Americas

This event will be held at the same time and venue as the Prepaid Americas and Transport Ticketing Americas events.

Event Date: March 24-25, 2015

Event Location: Marquis Reforma Hotel; Mexico City, Mexico

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MICROCAPITAL BRIEF: $53k Giordano Dell’Amore Microfinance Best Practices International Award Applications Due April 19, 2015

Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, has announced that it is accepting applications for its 2015 Giordano Dell’Amore Microfinance Best Practices International Award, which aims to increase the understanding of microfinance and promote the sharing of good practices among industry players. Continue reading

MICROCAPITAL BRIEF: Bank al Etihad Borrowing $20m from European Bank for Reconstruction and Development (EBRD) for Micro, Small, Medium-Sized Enterprises (MSMEs) in Jordan

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has agreed to open a credit line of USD 20 million for Bank al Etihad, a Jordanian provider of financial services to both large and small organizations, for on-lending to micro-, small and medium-sized enterprises (MSMEs). Continue reading

MICROCAPITAL BRIEF: EBRD Loans $9m – Part in Local Currency – to FINCA, AccessBank for MSMEs in Tajikistan

The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution that operates in Eastern Europe, Central Asia and North Africa, has expanded its support for on-lending for micro-, small and medium-sized enterprises (MSMEs) in Tajikistan with multi-currency loans to FINCA Tajikistan (FINCA TJK) and AccessBank Tajikistan (AccessBank) in amounts equivalent to USD 4 million and USD 5 million, respectively. Continue reading

MICROCAPITAL BRIEF: C-Quadrat Asset Management, Formerly Absolute Portfolio Management, Loans $2.5m for Microfinance in Benin, Cambodia, Georgia

During February 2015, Austria’s Absolute Portfolio Management disbursed loans totaling USD 2.5 million to unspecified microfinance institutions in Benin, Cambodia and Georgia. Continue reading

MICROCAPITAL BRIEF: Colombian Government Creating Licensing System for Electronic Deposit-Taking Entities

The government of Colombia recently approved a law to regulate and license electronic deposit-taking entities. These financial institutions, designated Sociedades Especializadas en Depósitos y Pagos Electrónicos (Specialized Electronic Deposit and Payment Institutions), may be incorporated by individuals or legal entities, such as telecom operators or postal offices. With a minimum capital requirement of USD 3 million, these entities can allow users to save, make payments and receive money, primarily through correspondent agents [1] [2]. Continue reading

SPECIAL FEATURE: Striving for Consistency: An Effort to Standardize Impact Assessments in Microinsurance

Risks and unexpected events affect us all. However, for low-income people, the financial impact of an unforeseen shock such as a health crisis, the death of a breadwinner or destroyed crops can be devastating. With minimal resources to draw on, many must rely on informal coping mechanisms, such as selling productive assets, taking children out of school either to work or because fees are no longer affordable, or relying on their support network to finance the shock, which can often cause families to spiral into poverty. Continue reading

MICROCAPITAL BRIEF: Indian Government to Allocate $319m to Create Micro Units Development and Refinance Agency Bank (MUDRA) to Prioritize Microfinance Lending to Members of Scheduled Castes, Tribes

The Indian Government has announced plans to allocate INR 200 billion (USD 319 million) for a new bank to be known as The Micro Units Development and Refinance Agency Bank (MUDRA). Continue reading

MICROCAPITAL BRIEF: Bajaj Group, CDC, CX, Newquest Place $96m in India’s Ujjivan as Elevar, Lok, Sequoia, Wolfenson, Others Exit

Ujjivan, a microfinance lender primarily serving women in urban areas recently raised the equivalent of USD 48 million in a set of transactions that reportedly comprise the largest microfinance deal in India’s history. Continue reading

MICROCAPITAL BRIEF: Social Performance Task Force, Smart Campaign Launch Responsible Microfinance Facility (RMF) for Training, Technical Assistance in the Middle East, Africa

The Social Performance Task Force, a US-based nonprofit charged with addressing questions about measuring and managing social performance, in collaboration with the Smart Campaign, a client-protection initiative of US-based nonprofit Accion, recently launched the Responsible Microfinance Facility (RMF), a three-year initiative funded by the French government’s Agence Francaise de Developpement (AFD)  to improve the capacity and performance of microfinance institutions in Africa and the Middle East. Continue reading

MICROCAPITAL BRIEF: Fern Software Implements Abacus MIS System for Microfinance Institutions (MFIs) in Jordan, Tunisia; Premiering Arabic, French Editions of Software

UK-based Fern Software recently informed MicroCapital that it has implemented its Abacus financial management information system (MIS) in two additional languages: in Arabic for a microfinance institution (MFI) in Jordan and in French for an MFI in Tunisia. Continue reading