Microfinance and Microcredit Investment | Microcapital.org - Page 386
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Wednesday, September 12, 2007

MICROCAPITAL STORY: Development Innovations Group Launches New Microfinance Company in India to Provide Loans and Housing Finance for the Urban Poor

CapStone Financial Services Pvt Ltd., has been launched by the Development Innovations Group (DIG), a private international firm specialising in development finance. Its remit will be to provide microfinance to the urban poor. The first office is in Chennai, though the company intends to spread throughout all of India, focusing on towns with populations of over 8 million. Continue Reading »

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Wednesday, September 12, 2007

MICROCAPITAL STORY: International Finance Corporation makes USD 70 Million Investment in Central American Microfinance Operator, Grupo Mundial

The International Finance Corporation (IFC), a member of the World Bank dedicated to private sector development, has invested USD70 million in the financial conglomerate Grupo Mundial. The investment comprises a USD 30million equity investment for about a 7 percent stake in the group and a USD 40million long term loan facility. Continue Reading »

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Tuesday, September 11, 2007

MICROCAPITAL STORY: Citigroup, the Foundation for Development Cooperation (FDC), and the Banking with the Poor Network (BWTP) Oversee Program to Advance Microfinance Partnerships in Indonesia

A three-day microfinance conference put on by Citigroup, a private financial services company, the Foundation for Development Cooperation (FDC), a not-for-profit international development organization, and the Banking with the Poor Network (BWTP), a not-for-profit regional microfinance network, wrapped up in Jakarta, Indonesia on September 7. This event is part of a USD 570,000 grant given by the Citi Foundation to the FDC and BWTP earlier this year with the purpose of expanding microfinance services across ten Asian countries during 2007 and 2008. Continue Reading »

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Tuesday, September 11, 2007

MICROCAPITAL STORY: Fiji National Microfinance Unit Targets 7,000 New Microfinance Savings Accounts This Year

The Fiji National Microfinance Unit (NMU), established in April 1999 under Fiji’s Ministry of Finance to oversee the implementation, monitoring and evaluation of the nation’s microfinance activities, has set country-wide growth targets for the coming year. The NMU is targeting national growth of 7,000 new microfinance saving accounts, the issuance of 2,500 new loans and 2,000 repeat loans to micro-entrepreneurs. Additionally, the NMU will introduce microfinance to the two remaining microfinance-less provinces in the country. Continue Reading »

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Monday, September 10, 2007

MICROCAPITAL STORY: Bank of Nova Scotia (NovaScotia Bank) Invests USD 810 million on Chilean Bank Banco del Desarrollo

Canadian international financial institution Bank of Nova Scotia has decided to expand its role in Chile, purchasing a 79 percent stake in Banco del Desarrollo, the seventh largest Chilean Bank, for USD 810 million. Continue Reading »

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Monday, September 10, 2007

WHO’S WHO IN MICROFINANCE: The Netherlands’ Triodos Bank and Triodos Investment Management

In 1971, the Triodos Foundation in the Netherlands began investment operations that would become Triodos Bank. The Dutch bank did not come into official existence until 1980, when Triodos Bank was founded with EUR 540,000 in share capital, USD 735,993 at today’s exchange rate. Since then, the bank has provided private banking services as well as created various investment funds, financing social development worldwide. Continue Reading »

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Friday, September 7, 2007

MICROCAPITAL STORY: Microfinance Information Exchange (MIX) Attempts to Answer Question, “How Many MFIs and Clients Are There?”

The Microfinance Information Exchange (MIX), a not-for-profit private company which provides financial and social performance information on microfinance institutions (MFIs), market facilitators, donor organizations and investors in microfinance, has attempted to answer the question, “How Many MFIs and Clients Are There?” with a recently published dataset.

The dataset reveals a total of 2,207 MFIs representing approximately 77 million borrowers in 100 countries. Most MFIs are concentrated in South Asia and Sub-Saharan Africa. Most borrowers are concentrated in South Asia, and the East Asia/Pacific region. Continue Reading »

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Friday, September 7, 2007

MICROCAPITAL STORY: Grameen Foundation partners with local Microfinance Institutions in Rwanda to Relaunch Village Phone Initiative

The Grameen Foundation, a non-profit organization that tries to replicate the Grameen Bank microfinance model around the world through a global network of partner microfinance institutions, is relaunching its Village Phone initiative in Rwanda in collaboration with MTN Rwanda (a telecommunications company). The project, called Village Phone Rwanda Tel’imbere has four local microfinance institutions (MFIs) as partners. The project was initially launched in 2006, after a successful pilot scheme had run for a year. Continue Reading »

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Thursday, September 6, 2007

MICROCAPITAL STORY: The National Microfinance Bank of Tanzania helps Bail out the Tanzania Electric Supply Company (Tanesco) with a USD 56million Loan

The National Microfinance Bank of Tanzania has joined a syndicate of local banks and pension funds to lend USD 238million to Tanesco, the parastatal electricity company, wholly owned by the Tanzanian government, money which will be used to pay off debts to suppliers and invest in new equipment. Continue Reading »

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Thursday, September 6, 2007

MICROCAPITAL STORY: Women’s Apparel Company Shabby Apple Pairs up With Unitus to Increase Microfinance Services in India

Shabby Apple, a designer dress company based in Salt Lake City, Utah, is releasing their new fall line of fashions, and will be donating 5 percent of its proceeds to Unitus, a non profit organization dedicated to alleviating poverty by increasing access to microfinance. The money will specifically be utilized to aid women entrepreneurs in India. Continue Reading »

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Wednesday, September 5, 2007

MICROFINANCE EVENT: NAMMS and RMC Present Sixth Annual National Conference “Microfinance in Russia: Building an All-Inclusive Financial System”

MICROFINANCE IN RUSSIA: BUILDING AN ALL-INCLUSIVE FINANCIAL SYSTEM

NOVEMBER 15-17, 2007, MOSCOW, RUSSIA

The National Partnership of Microfinance Market Stakeholders (NAMMS), a non-profit partnership of individuals and organizations dedicated to microfinance proliferation, and the Russian Microfinance Center, a non-profit organization that promotes microfinance in Russia, jointly present “Microfinance in Russia: Building an All-Inclusive Financial System” to take place in Moscow, Russia, November 15-17, 2007. Continue Reading »

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Tuesday, September 4, 2007

MICROCAPITAL STORY: Micro Finance Bank of Azerbaijan (MFBA) Issues Bonds Worth USD 11.4m Through Developing World Market’s (DWM) Management to Finance Microfinance Operations

Micro Finance Bank of Azerbaijan (MFBA), a central Asian and eastern European microfinance institution (MFI), has issued USD 11.4 million in bonds to international capital investors. Developing World Markets (DWM), a US-based asset management firm, sponsored and arranged the investment deal, which took place in Luxembourg, through a specially created investment vehicle titled MFBA Bond I. The debt accrued by MFBA through the bond issuance has been categorized as senior debt, with a five-year term for repayment. MFBA will use the loaned capital to finance micro loans for Azeri small businesses. Continue Reading »

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Tuesday, September 4, 2007

MICROCAPITAL STORY: Unmet Demand for Microfinance Inhibiting Economic Growth of Russia’s Urban and Rural Poor

A recent article from the Inter Press Service (IPS), an independent news agency focused on the developing world, reveals Russia’s micro-entrepreneurs and micro-businesses are not receiving the capital they need to grow. The article indicates microfinance institutions (MFIs) are only supplying 15 percent of an estimated USD 8 billion in micro-business demand. Furthermore, formal banking institutions are supplying just 20 percent of the USD 22 billion needed by small and medium-sized enterprises. Continue Reading »

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Tuesday, September 4, 2007

MICROCAPITAL STORY: Bangladesh Commemorates Nobel Prize Winner and Microfinance Pioneer Mohammad Yunus on Postage Stamp

Bangladesh Chief Adviser Dr. Fakhruddin Ahmed Wednesday formally released a commemorative postage stamp along with a first day cover (An envelope with a stamp canceled on its first day of sale) on Professor Muhammad Yunus and Grameen Bank for winning the Nobel Prize October of last year. Continue Reading »

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Tuesday, September 4, 2007

NEWS WIRE: Citibank Commits USD 17.9 Million to South Asian Flood Relief

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Tuesday, September 4, 2007

PRESS RELEASE: Inter-American Development Bank Fund Approves USD 890,000 for Social Entrepreneurship Program in Guatemala

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Monday, September 3, 2007

MICROCAPITAL STORY: European Union (EU) partners with Cameroon Chamber of Commerce (CCIMA) to Conduct Study on How to Implement Better Funding Mechanisms For Very Small and Small Enterprises (VSSEs)

The Cameroon Chamber of Commerce for Industry, Mines and Artisans (CCIMA) has begun working with the African Caribbean Pacific Business Climate Facility (BizClim), an initiative funded by the European Union (EU), on a study that will attempt to identify new mechanisms for funding very small and small enterprises (VSSEs) in the West African country. FOGAMU, a Cameroonian mutual guarantee fund that caters to this category of enterprises, and the National Association of Cameroonian Microfinance Institutions (ANEMCAM), an organization with the objective to further develop the microfinance industry in Cameroon, will also be involved in the execution of the study. Continue Reading »

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Monday, September 3, 2007

PRESS RELEASE: Inter-American Development Bank’s Multilateral Investment Fund Approves USD 1 Million for a Procurement Support Program for Micro, Small and Medium-sized Enterprises in El Salvador

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