MICROCAPITAL BRIEF: Green for Growth Fund Announces $1.1m Senior Loan to Kosovar Microfinance Institution AFK to Reduce Energy Consumption in Homes, Businesses

The Green for Growth Fund (GGF), a Luxembourg-based investment vehicle that supports energy-efficiency (EE) initiatives in Eurasia and North Africa, recently announced a senior loan in the amount of EUR 1 million (USD 1.1 million) for Agjencioni për Financim në Kosovë (AFK), a non-banking microfinance institution operating in Kosovo. Continue reading

MICROCAPITAL BRIEF: Bangladeshi Farmers to Receive Microloans via Credit Cards Arranged by CARE Bangladesh, DAM, mPower, USAID

The Agricultural Extension Support Activity (AESA) of the United States Agency for International Development (USAID), which is implemented by the Bangladesh-based nonprofit Dhaka Ahsania Mission (DAM), is piloting an initiative to provide smallholder farmers with loans via bank cards. Continue reading

MICROCAPITAL BRIEF: Incofin Microfinance Funds Exit Equity Investments in Bolivia’s Banco FIE

Incofin Investment Management, a Belgium-based investment management firm focusing on microfinance institutions (MFIs) in developing countries, recently announced sales of some of its equity in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), a Bolivian bank focusing on the financially excluded, to the bank’s incumbent shareholders. Continue reading

MICROCAPITAL BRIEF: Kiva, The MasterCard Foundation Announce 5-Year, $7.9m Project to Promote Financial Inclusion in Rural Sub-Saharan Africa

Kiva, a US-based, nonprofit crowdfunding platform for microfinance institutions (MFIs), and The MasterCard Foundation, a Canadian organization founded by the US-based payments firm MasterCard Worldwide, recently announced a five-year, USD 7.9 million project to develop loan products and other financial services specific to the needs of smallholder farmers and others living in rural Sub-Saharan Africa. Continue reading

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MICROCAPITAL BRIEF: MIF, Swiss Government Partner to Launch Social Impact Bond Fund to Improve Urban Employment in Colombia, Repayment to Be Contingent on Successful Client Outcomes

The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, is partnering with the Swiss State Secretariat of Economic Affairs (SECO) and the Colombian government’s Department for Social Prosperity (DPS) to launch a social impact bond fund aimed at increasing urban employment in Colombia. Continue reading

MICROCAPITAL BRIEF: India’s Kotak Mahindra Bank Buying BSS Microfinance for $21m

Kotak Mahindra Bank (KMB), a private-sector Indian bank, recently announced plans to acquire BSS Microfinance, a Karnataka-based non-banking financial company run by the Bharatha Swamukthi Samsthe (BSS) Trust, for INR 1.4 billion (USD 21 million) Continue reading

MICROCAPITAL BRIEF: ResponsAbility to Loan Additional $3m to Bolivian Microfinance Institution Diaconia FRIF

ResponsAbility, a Switzerland-based asset management firm specializing in development investments, recently informed MicroCapital that it is lending an additional USD 3 million to Diaconia Fondo Rotativo de Inversion y Fomento (FRIF), a non-banking financial institution based in Bolivia. Continue reading

MICROCAPITAL BRIEF: Microfinance Institution Equitas Begins Accepting Deposits in Chennai, India, With Interest Rates Starting at 6%

Equitas Small Finance Bank Limited, a subsidiary of India’s Equitas Holdings Limited, recently began operations with three branches in Chennai, offering deposit accounts with interest rates of six to 7.5 percent per year. Continue reading

MICROFINANCE EVENT: Aflatoun to Host Annual International Meeting on Social, Financial Education, November 2-4, 2016, The Hague, the Netherlands

Event Name: Aflatoun International Meeting 2016: Social and Financial Education Contributing to the Sustainable Development Goals (SDGs)

Event Date: November 2 – November 4, 2016

Event Location: World Trade Center, Prinses Beatrixlaan 582, The Hague, the Netherlands Continue reading

MICROCAPITAL BRIEF: Sanad Fund for MSME Announces $10m Loan to Egyptian AlexBank

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 that it will lend an additional USD 10 million to AlexBank, an Egypt-based financial services institution, to on-lend to MSMEs in Egypt [1]. Continue reading

MICROCAPITAL BRIEF: EBRD, USAID to Cooperate on Boosting Private Sector Development in Regions Including Eurasia, Middle East, North Africa

The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, and the United States Agency for International Development (USAID), a government agency that provides international economic and humanitarian assistance, recently signed a “Framework for Cooperation” detailing a plan to boost private sector development in regions in which both organizations operate. Continue reading

MICROCAPITAL BRIEF: GSMA Facilitates Launch of Interoperable Mobile Money Services in Madagascar

The Groupe Special Mobile Association (GSMA), a membership organization of 800 telecoms operating under the Global System for Mobile Communications (GSM) standard, recently announced that all of the mobile operators present in Madagascar- Airtel Money, mVola and Orange Money- will make their services interoperable across the country.

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MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru, the Philippines

Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru and the Philippines. Continue reading

MICROCAPITAL BRIEF: Indian Banks Deceptively Reduce Number of Zero-Balance Accounts Under Pradhan Mantri Jan Dhan Yojana Financial Inclusion Effort

Although the proportion of zero-balance bank accounts opened under India’s Pradhan Mantri Jan Dhan Yojana (PMJDY) program was reduced from 76 percent in January 2015 to 24 percent as of September 2016, it recently has been reported that this is not due to customer deposits. Continue reading

MICROCAPITAL BRIEF: Symbiotics, UBS Close $50m SME Finance – Loans for Growth Fund

Symbiotics, a Switzerland-based investment intermediary, and UBS, which is formerly known as the United Bank of Switzerland, recently closed their SME Finance – Loans for Growth Fund with USD 50 million in investments. The fund will provide credit to financial institutions focused on lending to small and medium-sized enterprises (SMEs) in “frontier and emerging markets.” Continue reading

MICROCAPITAL BRIEF: Verdant Capital Arranges $3m Revolving Credit Facility for Zambia’s Pan African Building Society (PABS)

Verdant Capital, a corporate finance firm serving Africa, recently informed MicroCapital that it has arranged a revolving credit facility in the amount of USD 3 million for the Pan African Building Society (PABS), a deposit-taking, non-banking financial institution operating in Zambia. Continue reading

MICROCAPITAL BRIEF: Microfinance Institutions Adie, microStart, Taysir Launch Free Online Training for Microentrepreneurs

Microfinance institutions (MFIs) Adie, which offers financial services and related training in France; microStart, which works with small businesses in Belgium; and Taysir, which funds microenterprises and small-scale farms in Tunisia, recently launched an online training platform for microentrepreneurs and small-business owners. Continue reading

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