MICROCAPITAL BRIEF: Bill & Melinda Gates Foundation to Invest $80m in Acquiring Data on Progress, Barriers to Success of Women, Girls

The Bill & Melinda Gates Foundation, a nonprofit organization based in the United States, recently announced that it will commit USD 80 million over three years to improve the availability and reliability of data on women and girls including: (i) how much time they spend on unpaid work; (ii) information on the efficacy of programs and other interventions; and (iii) how successful political leaders are in supporting gender equality.

MICROCAPITAL BRIEF: Smart Communications, ICMFI to Offer Mobile Banking Accounts in Iloilo, Philippines

Smart Communications Incorporated, a mobile services subsidiary of publicly-traded PLDT Incorporated (formerly the Philippines Long Distance Telephone Company), has partnered with the Philippine nonprofit International Care Ministries Foundation (ICMFI) to provide Smart Communications’ “SMART Money” mobile banking accounts to members of the Pototan community in Iloilo province.

MICROFINANCE EVENT: AlHuda CIBE, Akhuwat to Host Sixth Global Islamic Microfinance Forum, November 8-11, 2016, Nairobi, Kenya

Event Name: Sixth Global Islamic Microfinance Forum: “Financial Inclusion, Outreach Strategies and Innovations”

Event Dates: Conference: November 8-9, 2016; Post-Conference Workshop: November 10-11, 2016

Event Location: Nairobi, Kenya

MICROCAPITAL BRIEF: Green for Growth Fund to Loan $2.2m to Microfinance Institution Alter Modus of Montenegro for Energy Efficiency for Housing, Business

The Green for Growth Fund (GGF), a Luxembourg-based investment vehicle that supports energy-efficiency (EE) initiatives in Southeast Europe, recently announced that it will invest EUR 2 million (USD 2.2 million) in debt in Alter Modus, a Montenegro-based microfinance institution (MFI).

MICROCAPITAL BRIEF: India’s Jharkhand State Livelihood Promotion Society (JSLPS), MicroSave Launch Financial Education Pilot Program for Self-Help Groups (SHGs)

The Jharkhand State Livelihood Promotion Society (JSLPS), a program of the local government’s Rural Development Department, and MicroSave, a financial inclusion consulting firm headquartered in the northern Indian state of Uttar Pradesh, recently launched a financial education pilot program in the Bero, Khuntipani and Manoharpur blocks of the eastern Indian state of Jharkhand.

MICROCAPITAL BRIEF: IFC Issues Taino II Local-currency Bond, Raising $4m for Banco ADOPEM’s Microfinance Efforts in the Dominican Republic

The International Finance Corporation, the private-investment arm of the World Bank Group, recently issued its “Taino II” bond in the amount of DOP 180 million (USD 4 million), the proceeds of which will go to Banco de Ahorro y Crédito ADOPEM SA, a microfinance institution formerly known as Asociación Dominicana para el Desarrollo de la Mujer that is a member of the Spain-based Fundación BBVA Microfinanzas.

MICROCAPITAL BRIEF: IFMR Investment Managers Raising Third Debt Fund, IFMR FImpact Medium Term Microfinance Fund

The Institute for Financial Management and Research (IFMR) Investment Managers, a unit of India-based IFMR Trust Group providing investment management services in asset classes that impact the financially excluded, is seeking to raise INR 1 billion (USD 15 million) for a debt fund called IFMR FImpact Medium Term Microfinance Fund to invest exclusively in microfinance firms.

MICROCAPITAL BRIEF: SBP Increases Transaction Limits, Bolsters Alternate Channels to Boost Branchless Banking in Pakistan

The State Bank of Pakistan (SBP) recently announced reforms to the country’s branchless banking regulations in an effort to further the bank’s National Financial Inclusion Strategy (NFIS), launched in May 2015 seeking to deliver financial services to 50 percent of the adult population in Pakistan by 2020. 

MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $34m to Microfinance Institutions (MFIs) in Latin America, South Asia

During July 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 34 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ecuador, India, Nicaragua, Paraguay and Sri Lanka.

MICROCAPITAL BRIEF: Tigo Tanzania Distributes $2.5m in Profit to Customers, Agents of Digital Payment Platform Tigo Pesa

Tigo Tanzania, a brand of Swedish telecom provider Millicom, recently announced it paid TZS 5.6 billion (USD 2.5 million) of its profits to Tigo Pesa users.

MICROCAPITAL BRIEF: IDFC Bank Acquires India’s Grama Vidiyal Micro Finance

The Infrastructure Development Finance Company (IDFC) Bank, an Indian for-profit private company providing banking and other financial services, recently acquired Grama Vidiyal Micro Finance, a microfinance institution (MFI) headquartered in the Indian state of Tamil Nadu, increasing its rural and semi-urban customer base by 1.2 million.

MICROCAPITAL BRIEF: Sanad Fund for MSME Announces $10m Loan to Moroccan Microfinance Institution Albaraka

The Sanad Fund for MSME (Micro Small and Medium Enterprises), a provider of loans and equity to financial institutions in the Middle East and North Africa, recently announced a partnership with Albaraka, a Moroccan microfinance institution (MFI),

MICROCAPITAL BRIEF: Tanzania’s National Microfinance Bank Lists $18m in Bonds on Dar Es Salaam Stock Exchange

The National Microfinance Bank (NMB), an institution backed by the government of Tanzania, recently announced that it has listed TZS 41.4 billion (USD 18.8 million) in three-year retail bonds on the Dar es Salaam Stock Exchange (DSE), the listing surpassed its initial retail bond target by 107 percent.

MICROCAPITAL BRIEF: India’s Suryoday Microfinance Raises $15m in Equity as Aavishkaar Goodwell Exits

Suryoday Micro Finance Private Limited , a non-banking finance company providing microfinance services in India, recently raised INR 1 billion (USD 15 million) from investors including the Infrastructure Development Finance Company (IDFC) Bank; ASK Pravi; the Housing Development Finance Corporation (HDFC) Standard Life Insurance; Arpwood Investment Advisors; Kiran Vyapar, the investment arm of LN Bangur Group; Polaris Banyan Holding and Dr. Aravind Srinivasan [2].

MICROCAPITAL BRIEF: Canadian Government Donates $6.7m to DID, Sanasa to Establish Entrepreneur Financial Centre (EFC) Offering Microfinance in Sri Lanka

The Canadian government recently announced a donation of CAD 8.8 million (USD 6.7 million) to be disbursed over four years for the creation of an Entrepreneur Financial Centre (EFC) in Sri Lanka, jointly implemented by Développement International Desjardins (DID), a unit of Canadian cooperative Desjardins Group that promotes financial services in developing countries, and Sanasa Development Bank PLC, a Sri Lankan bank that provides low-income people with loans, voluntary savings, leasing and fund transfer services.

MICROCAPITAL BRIEF: Symbiotics Issues Bonds Supporting SME, Rural Finance: $12m for Costa Rica’s Banco Improsa, $10m for Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, $6m for Armenia’s Armeconombank

Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds

MICROCAPITAL BRIEF: Developing World Markets Closes Debt Investments Totaling $8.3m in Armenia, Colombia, India, Nicaragua

Developing World Markets (DWM), a US-based asset manager and investment bank, recently announced that it issued loans in February and March 2016 to four unidentified financial institutions serving microentrepreneurs, including a Colombian bank and non-banking financial institutions (NBFIs) in Armenia, India and Nicaragua.