The Dutch Bank ING published its updated 2008 study on commercial bank microfinance activity, called “A Billion to Gain? The Next Phase”. A MicroCapital summary of the paper can be read here. MicroCapital is reviewing the microfinance activities of several of large international banks covered in the study, such as Crédit Agricole SA (CA). Continue reading
Writing in the Globalist, an online magazine that covers globalization issues, David Apgar, a risk manager with microfinance investment management firm BlueOrchard Finance, discusses the link between the U.S. sub-prime meltdown and the global food crisis and their potential impact on microfinance institutions (MFIs). In short, he relates the rising prices of food to the currently stumbling U.S. economy’s influence on world financial markets; as a result, he posits that the poor may turn against the very system that has made it possible for many of them to benefit from microfinance.
Moroccan microfinance institution (MFI) FONDEP is to receive a loan of MAD 100 million (USD 12.5 million) from commercial bank BMCE (Banque marocaine du commerce extérieur) of Morocco, with a USD 3 million guarantee split between Grameen-Jameel Pan-Arab Microfinance Ltd, a for-profit venture that provides capacity building and financing to Arab MFIs, and the Grameen Foundation’s Growth Guarantee. It is the largest leveraged commercial transaction for a Moroccan MFI.
Société Générale de Banque – Jordanie has announced a loan of JOD 2 million (USD 2.8 million) to microfinance institution (MFI) Tamweelcom of Jordan, backed by a USD 846,000 guarantee from Grameen-Jameel Pan-Arab Microfinance Ltd, a for-profit venture that provides capacity building and financing to Arab MFIs.