MICROCAPITAL BRIEF: Credit Rating Information Services of India Limited (CRISIL) Upgrades Rating of Evangelical Social Action Forum (ESAF) Microfinance

Credit Rating Information Services of India Limited (CRISIL), an Indian ratings, research, risk and policy advisory company, has elevated the rating of Evangelical Social Action Forum (ESAF) Microfinance, a microfinance institution (MFI) based in the Indian state of Kerala, to “mfr2.” [1][2] Continue reading

MICROCAPITAL BRIEF: Grameen Credit Agricole Lends $1m to Première Agence de Microfinance au Burkina Faso, $239k to Biotropical of Cameroon

Grameen Credit Agricole, a Luxembourg-based organization that provides financing to microfinance institutions (MFIs), recently informed MicroCapital that it has granted a 3-year loan of EUR 770,000 (USD 1.05 million) to the Première Agence de Microfinance au Burkina Faso (PAMF-BF), an MFI in Burkina Faso, and a loan of EUR 175,000 (USD 239,000) to Biotropical, a Cameroon-based fruit company that works with small farmers. Continue reading

MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Launches Environment, Social, Governance (ESG) Label to Certify Investment Vehicles

The Luxembourg Fund Labeling Agency (LuxFLAG), a nonprofit organization that certifies the operations of investment vehicles that support microfinance and environmental initiatives, recently began offering a third category of fund label for investment funds integrating Environment, Social and Governance (ESG) principles in their investment strategies. Continue reading

MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $5m to Microfinance Institutions (MFIs) in Azerbaijan, El Salvador, Tajikistan

Two funds controlled by Absolute Portfolio Management (APM), an arm of Austria-based asset group C-Quadrat, have distributed credits worth approximately USD 5 million to unspecified microfinance institutions (MFIs) in Azerbaijan, El Salvador and Tajikistan. Continue reading

MICROCAPITAL BRIEF: SKS Trust Advisors Sells 7.6% of SKS Microfinance, Decreasing Stake to 4.8%

SKS Trust Advisors Private Limited, the India-based trustee of five mutual benefit trusts benefiting groups who borrow from SKS Microfinance Limited, reportedly has sold a 7.6-percent stake in SKS Microfinance, a for-profit Indian microfinance institution (MFI), to an unspecified buyer. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC), Colombian Federation of Chambers of Commerce, Superintendence of Corporations to Facilitate Lending Based on Movable Collateral

The International Financial Corporation (IFC), the private investment arm of the World Bank Group, has partnered with the Superintendence of Corporations of Colombia, a government agency that regulates corporations, and Confecamaras, the Colombian Federation of Chambers of Commerce, to launch a lending framework that is intended to facilitate financial access for micro-, small and medium-sized enterprises (MSMEs) in the country [1].

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MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Likely to Loan Azeri DemirBank $50m for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs); $5m to Promote Residential, Business Energy Efficiency

The London-based European Bank for Reconstruction and Development (EBRD) is considering issuing a syndicated A/B loan of USD 50 million to provide capital to Azerbaijan-based, “socially oriented” bank DemirBank for “on-lending to micro, small and medium-sized enterprises (MSMEs)”[1] in the country. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation, Centre International de Développement et de Recherche (CIDR) to Expand Health Microinsurance in Senegal

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Centre International de Développement et de Recherche (CIDR), a nongovernmental organization based in France, recently announced an agreement “to expand micro health insurance in Senegal to low-income and informally employed individuals”[1] through Pool Micro Assurance Santé, a health services provider in Senegal. Continue reading

MICROFINANCE PUBLICATION WRAP-UP: “Spotlight on the Market, The Impact Investor Study;” by Yasemin Saltuk, Ali El Idrissi; published by J.P. Morgan Global Social Finance, Global Impact Investing Network

Spotlight on the Market, The Impact Investor Study;” published by J.P. Morgan Global Social Finance and Global Impact Investing Network; May 2014; 52 pages; available at http://www.jpmorganchase.com/corporate/socialfinance/document/140502-Spotlight_on_the_market-FINAL.pdf

This study, prepared by US-based financial institution J.P. Morgan and US-based nonprofit Global Impact Investing Network (GIIN), details the findings of the organizations’ fourth annual survey about “impact investments,” which are defined as those made “with the intention to generate social and environmental impact alongside a financial return.” Continue reading

MICROFINANCE EVENT: Microcredit Summit Campaign, Mexican Ministry of Economy to Host 17th Microcredit Summit “Generation Next: Innovations in Microfinance,” September 3-5, 2014, Merida, Mexico

Event Name: 17th Microcredit Summit “Generation Next: Innovations in Microfinance”

Event Date: September 3-5, 2014

Event Location: Centro de Convenciones Yucatán Siglo XXI, Merida, Mexico Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $4.8m in Fondo Para el Desarrollo (FONDESA) to Support Financial Inclusion in Dominican Republic

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has disbursed a three-year, DOP 200 million (USD 4.8 million) loan to Fondo Para el Desarrollo Incorporated (FONDESA), a nonprofit microfinance institution in the Dominican Republic. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $4m to Mikrofin Banja Luka of Bosnia and Herzegovina for On-lending to 2,000 Micro-, Small Enterprises

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, has disbursed a senior loan of EUR 3 million (USD 4.1 million) to microfinance institution Mikrofin Banja Luka of Bosnia and Herzegovina to increase the company’s lending capacity and expand loan services to approximately 2,000 micro- and small enterprises in the country. Continue reading