MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GGAMF) Loans $6m to Proximity, BRAC, Vision Fund for Microlending in Myanmar

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has committed to extending loans totaling the following amounts in phases over three years: the euro equivalent of USD 2.96 million to Myanmar’s Proximity Finance; the euro equivalent of USD 1.60 million to BRAC Myanmar; and the euro equivalent to USD 1.37 million to VisionFund Myanmar.

MICROCAPITAL BRIEF: Women’s Financial Inclusion Community of Practice Launches Website

As part of its launch, the Women’s Financial Inclusion Community of Practice (COP) recently released its website, https://www.microfinancegateway.org/organization/womens-financial-inclusion-community-practice, which is intended to facilitate discussions on best practices and solving shared challenges relating to delivering financial services to women with low incomes.

MICROCAPITAL BRIEF: AlHuda, Azerbaijan’s SER Agree to Promote Islamic Finance in the Caucasus

Two NGOs, the Pakistan-based AlHuda Center of Islamic Banking & Economics (CIBE) and Azerbaijan’s Studying of Economic Resources (SER) Public Union recently announced they will collaborate to promote Islamic finance in Azerbaijan and other countries in the Caucasus region.

MICROCAPITAL BRIEF: Entrepreneurship Program for Innovation in the Caribbean (EPIC) Organizing Angel Investors to Improve SME Support

The World Bank Group’s Entrepreneurship Program for Innovation in the Caribbean (EPIC) is providing a framework for “angel” investors to work together to entertain pitches from and fund the development of “start-ups and early-stage enterprises” in the Caribbean region.

MICROCAPITAL BRIEF: Association of Microfinance Institutions of Rwanda Rolls Out “Responsible Finance Through Local Leadership and Learning Program”

In partnership with the US-based, nonprofit Small Enterprise Education and Promotion (SEEP) Network and The MasterCard Foundation of Canada, the Association of Microfinance Institutions of Rwanda (AMIR) recently rolled out the Responsible Finance Through Local Leadership and Learning Program.

MICROCAPITAL BRIEF: FMO Lending $4m to Babban Gona to Provide Business Services on Credit to Farmers in Nigeria

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden, a development bank controlled by the Dutch government, recently offered a loan of USD 4 million to Babban Gona, a Nigerian for-profit company that provides business services to small-scale farmers such as assistance with crop insurance; soil analysis; marketing; distribution; and access to seeds, fertilizer and storage facilities.

MICROCAPITAL BRIEF: MicroFinanza Rating Issues 8 Institutional, Social, Client-protection Credentials to Microfinance Institutions in Asia, Latin America

During June, Italy’s MicroFinanza Rating (MFR) issued four microfinance institutional ratings. Ecuador’s Insotec earned a rating of BBB with a stable outlook.

MICROCAPITAL BRIEF: IFC Lending $5.6m to Romania’s Garanti Leasing to Finance Women-owned SMEs

Garanti Leasing, a subsidiary of the Garanti Group Romania specializing in financing real estate, vehicles and agricultural equipment, recently announced it will borrow EUR 5 million (USD 5.6 million) from the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, in order to increase funding for women-owned small and medium-sized enterprises (SMEs).

MICROCAPITAL BRIEF: The Netherlands’ FMO Issues $568m Bond to Finance Green, Financial Inclusion Investments

The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently completed a fixed-rate bond issue totaling EUR 500 million (USD 568 million) to fund projects including “climate change mitigation (renewable energy and energy efficiency) and climate change adaptation, as well as inclusive finance projects (microfinance and [small and medium-size enterprise] financing).”

MICROCAPITAL BRIEF: Symbiotics Raises $18.5m for Georgia’s TBC Bank via MSME Bond Platform

Tbilisi Business Center (TBC) Bank, Georgia-based commercial bank, recently announced that it has raised GEL 45 million (USD 18.5 million) from one or more unidentified investors via the MSME bond platform of Symbiotics SA, a Swiss investment services provider focused on micro-, small and medium-sized enterprises (MSMEs).

MICROCAPITAL BRIEF: IDB Loans Colombia $450m for Goals Including Facilitating Access to Capital for SMEs, Improving Financial Inclusion

The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently announced it will extend a loan of USD 450 million to the government of Colombia with the goal of helping to “solidify macroeconomic stability, boost development, encourage public/private partnership financing, strengthen regulation of the financial system [and] promote financial inclusion.”

MICROCAPITAL BRIEF: IFC Invests $4.5m in Medical Credit Fund to Support SME Providers of Healthcare in Africa

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced it will invest USD 4.5 million in the Medical Credit Fund (MCF), a unit of the Dutch nonprofit PharmAccess Group, to finance small and medium-sized enterprises (SMEs) that provide healthcare services in Africa.

MICROCAPITAL BRIEF: National Bank of Rwanda (NBR) Rolls Out Electronic Data Warehouse to Automate Reporting by Microfinance, Traditional Financial Institutions

The National Bank of Rwanda (NBR), the central bank of the country, recently implemented an electronic data warehouse (EDW) system to automate the reporting processes of 14 financial services providers, three of which are microfinance institutions.

MICROFINANCE EVENT: Sanabel’s Annual Conference: Financial Inclusion in the Arab Countries; November 7-8, 2017; Beirut, Lebanon

Event Name: Sanabel’s 2017 Conference: Financial Inclusion in the Arab Countries; A Journey of Collaboration and Achievements

Event Date: November 7 – November 8, 2017

Event Location: Beirut, Lebanon

Summary of Event: This conference is intended to contribute to a more “inclusive and progressive” microfinance environment in the Arab region. The topic themes include the evolution of microfinance institutions (MFIs) and clients; supporting existing and new partnerships; MFIs’ role in advancing the UN’s sustainable development goals; strategic leadership and risk management; and advancing youth financial inclusion.

SPECIAL REPORT: Who Is Responsible in a Microfinance Equity Exit?

Now that three years have passed since CGAP and the Center for Financial Inclusion (CFI) at Accion published “The Art of the Responsible Exit in Microfinance Equity Sales,” this subject deserves a re-visit and perhaps expansion of the paper’s general principles into industry guidelines.

As the financial inclusion and impact investment industries mature and grow, so does the issue of how investors committed to advancing financial inclusion can “exit responsibly” from

MICROCAPITAL BRIEF: Russian Government Considers Lowering Annual Interest Rate Cap for Payday Loans from 600% to 150%

The government of Russia recently prepared legislation that would cut the maximum effective rate on payday loans of less than RUB 30,000 (USD 505) from 600 percent to 150 percent per annum.