The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has signed an agreement with ACCION International, a US-based nonprofit organization, to invest USD 1 million in ACCION’s Chinese affiliate, ACCION Microfinance China (AMC). Continue Reading »
MasterCard Worldwide, a Canadian global payments and technology company, recently disbursed USD 540,000 grant to the US-based nonprofit Grameen Foundation to launch mobile services that will provide agricultural and financial information to farmers in the cities of Urabá and Santa Marta, Colombia. Continue Reading »
Indian financial institution HDFC Bank and telecom service provider Vodafone India, a subsidiary of the UK-based Vodafone Group, have launched the “HDFC Bank MobileBank Account with Vodafone m-paisa”, a service allowing customers to perform banking transactions using mobile phones. Continue Reading »
The European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, has reported to MicroCapital that it has made a loan equivalent to USD 13.4 million to Intesa Sanpaolo Banka, a commercial bank in Bosnia and Herzegovina. Continue Reading »
Working Capital for Community Needs Incorporated (WCCN), a US-based nonprofit, has loaned the equivalent of USD 1.2 million in local currency to support the operations of microfinance institution (MFI) Pro Mujer in Nicaragua and Peru. Continue Reading »
On January 1, the government of the Indian state of Andhra Pradesh will introduce Vaddi Leni Runnam, a scheme that will provide women in self-help groups (SHGs) interest-free loans of up to INR 500,000 (USD 9,500) [1,2]. Continue Reading »
The BlueOrchard Private Equity Fund (BOPE Fund), a microfinance investment vehicle managed by Switzerland’s BlueOrchard, recently acquired a 20 percent stake in US-based CHF Development Finance International, a holding company established by development organization CHF International to own and manage CHF’s commercially-oriented microfinance subsidiaries. Continue Reading »
Fundación BBVA Microfinanzas (BBVA Microfinance Foundation), a Spanish nonprofit with operations in six western hemisphere countries, and Autoridad de la Micro, Pequeña y Mediana Empresa (AMPYME), an institution of the Republic of Panama, have signed a public-private alliance to jointly manage microfinance in Panama. Continue Reading »
The Imp-Act Consortium, a UK-based organization that encourages improved social performance in microfinance, has launched its new website, which focuses on practitioner stories. Continue Reading »
Absolute Portfolio Management GmbH, an Austrian investment company, has reported that the Dual Return Fund – Vision Microfinance, a sub-fund of Absolute’s Vision Microfinance, loaned the equivalent of USD 2 million to KazMicroFinance of Khazakstan and the equivalent of USD 4.2 million to unnamed microfinance institutions (MFIs) in Kyrgyzstan, Ecuador, Uruguay and Benin. Continue Reading »
Arman Financial Services Limited (Arman), a non-bank finance company based in India, has announced that its board has approved a proposed equity investment from Belgian company Incofin Investment Management (Incofin). Continue Reading »
Netherlands-based investment fund Goodwell West Africa has agreed to raise its equity share in Nwabiagya Community Bank of Ghana from 14.03 percent to 18.9 percent with a USD 1 million investment. Continue Reading »
Fondazione Giordano Dell’Amore, an Italian foundation, and the European Microfinance Network (EMN) have announced the fourth edition of the Giordano Dell’Amore Microfinance Good Practices Europe Award, which aims to increase the understanding of microfinance and promote the sharing of good practices among industry players in Europe. Continue Reading »
Ugafode Microfinance, a Ugandan microfinance institution (MFI), reportedly has received a license from the Bank of Uganda to act as a Microfinance Deposit-Taking Institution (MDI). Continue Reading »
Global Partnerships (GP), a nonprofit organization that supports microfinance institutions in Latin America, recently announced that it has teamed up with Haitian microfinance institution (MFI) Fonkoze and US-based Linked Foundation on a project aimed at improving women’s health in Haiti. Continue Reading »
Visa Incorporated (Visa), a US-based payments technology company, has recently announced that it is offering under-banked consumers in developing countries prepaid, globally interoperable electronic payment accounts. Continue Reading »
By Jessica Schicks and Richard Rosenberg, published by CGAP (Consultative Group to Assist the Poor), September 2011, 44 pages, available at: http://www.cgap.org/p/site/c/template.rc/1.9.55377/ Continue Reading »
Tomas Miller of the US-based Multilateral Investment Fund (MIF) was quoted recently by the Bahamian newspaper The Nassau Gaurdian as saying that, “Based on our definition of a microfinance institution, The Bahamas doesn’t really have that yet.” The interview was precipitated by the Third Caribbean Microfinance Forum, which was held recently in the Bahamas by the Caribbean Microfinance Capacity-building project, which is funded by MIF, the Barbados-based Caribbean Development Bank and the EU’s European Commission. Continue Reading »
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