Executive Vice President Somsak Kangteerawat of the Bank for Agriculture and Agricultural Co-operatives (BAAC), a government-owned bank in Thailand that extends credit to farmers, and Board Chairman Piriyah Wisedjinda of Habitat for Humanity (HFH) Thailand, a branch of the US-based NGO HFH International, have signed a memorandum of understanding establishing the “Microsavings Program for Home Improvement”, which is intended to support home improvements for low-income families living in areas of Thailand that are prone to flooding. Continue Reading »

Vodafone Group Private Limited Corporation, a British multinational mobile network operator, and the ICICI Bank, a commercial bank in India, have announced that they have expanded Vodafone’s mobile pesa (M-Pesa) cash transfer service to India. Continue Reading »

Event Name: World Credit Union Conference (WCUC)

Event Date: July 14-17, 2013

Event Location: Ottawa Convention Center, Ottawa, Ontario, Canada Continue Reading »

Gemalto, a digital security company based in the Netherlands, has developed a smart card-based system for two Bangladeshi businesses: Prime Bank Limited, a commercial bank founded in 1995, and Dipon Consultancy Services Limited (DCSL), a member of the Bangladesh-based conglomerate Dipon Group. The system will support the branchless banking service known as Prime Cash, which was established by the two firms in 2012. Continue Reading »

The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution established in 1991, is reviewing a proposal to invest EUR 25 million (USD 33 million) in the European Fund for Southeast Europe (EFSE), a Luxembourg-based investment company, to provide funding for micro-, small and medium-sized enterprises (MSMEs) in sixteen countries in Southeast Europe and neighboring countries. Continue Reading »

By Carol Coye Benson and Scott Loftesness; published by Consultative Group to Assist the Poor (CGAP); 2012; 46 pages; available at: http://www.cgap.org/sites/default/files/Interoperability_in_Electronic_Payments.pdf

This report explores the issue of cross-compatibility among electronic payment systems that serve poor and under-banked people in developing countries. Continue Reading »

Event Name: 4^th Pacific Microfinance Week (PMW) 2013: Microfinance in the Pacific – Increasing Access, Enhancing Impact

Event Date: October 21-25, 2013

Event Location: Sheraton Fiji Resort, Nadi, Denarau Island, Viti Levu Continue Reading »

For non-banking financial companies (NBFCs) and microfinance institutions (MFIs) of all sizes, the Reserve Bank of India (RBI), the country’s central banking institution, recently raised the margin cap, the difference between the amount charged to the borrower and the institution’s cost of funds to 12 percent at least until April 1, 2014 [1]. Continue Reading »

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London that aims to finance operations that are both commercially viable and assist development, has announced that it is considering granting subordinated debt of EUR 30 million (USD 39.6 million) to Fibabanka A.S., a private bank based in Turkey, with the aim of supporting growth of the Turkish micro-, small and medium-sized enterprise (MSME) sector. Continue Reading »

Vodacom, a South Africa-based mobile communications company owned by UK-based Vodafone, reportedly has announced the expansion its mobile pesa (M-Pesa) cash transfer service to Mozambique. Continue Reading »

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it would loan the local-currency equivalent of USD 70 million to Subsidiary Bank Sberbank of Russia Joint Stock Company (SBK) in Kazakhstan, a commercial bank subsidiary of Sberbank of Russia, in an effort to increase financial access for small and medium-sized enterprises (SMEs) in Kazakhstan [1]. Continue Reading »

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced it will disburse a local-currency loan equivalent to USD 470 million to Itau Unibanco, a Brazilian bank, in an effort to increase the financial inclusion of women-owned enterprises in Brazil. Continue Reading »

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it is partnering with the European Investment Bank (EIB), the long-term lending bank of the European Union (EU); Agence Française de Développement (AFD), France’s international development agency; and the European Commission, the legislative body of the EU, via the Neighborhood Investment Facility (NIF), to establish a USD 380 million financing facility for small and medium-sized enterprises (SMEs) in the Middle East and North Africa (MENA). Continue Reading »

The UK-based European Bank for Reconstruction and Development (EBRD) recently revealed the pending approval of a EUR 60 million (USD 78 million) finance facility for Sekerbank T.A.S., a Turkish commercial bank. Continue Reading »

The University of Texas at San Antonio (UTSA) International Trade Center, a US-based trade assistance organization; El Centro para la Promoción de la Micro y Pequeña Empresa en Centroamérica (CENPROMYPE), a Central American institution focused on small-business development; and the US Department of State Pathways for Prosperity Initiative, a policy dialogue effort linking 12 Western Hemisphere countries, has launched a Small Business Development Center (SBDC) in the city of Choluteca, Honduras. Continue Reading »

The Board of Directors of the African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently approved a 3.5-year line of credit in the amount of USD 20 million to UT Bank Ghana Limited (UT Bank), a commercial bank based in Ghana with 26 branches in Ghana and an unavailable number of subsidiary branches in West Africa and Europe. Continue Reading »

The Ghanaian branch of Luxembourg-based telecommunication firm Millicom International Cellular, which is also known as Tigo and has operations in 15 African and Latin American countries; EB Accion, a Ghana-based microfinance institution (MFI) affiliated with Togo-based Ecobank Group and US-based non-governmental organization (NGO) Accion; Cherie Blair Foundation for Women, a London-based charity focused on technology and access to finance; and the United States Agency for International Development (USAID), a government agency that provides international economic and humanitarian assistance, reportedly have partnered on a mobile money project that is expected to involve hundreds of women in Ghana. Continue Reading »

In an effort to boost residential energy efficiency in Moldova, the UK-based European Bank for Reconstruction and Development (EBRD) recently loaned EUR 2 million (USD 2.6 million) to Mobiasbanca, a Moldovan commercial bank and subsidiary of France-based Groupe Société Générale SA, to be on-lent to individual households, housing associations, management companies, condominiums and energy service companies. Continue Reading »