SPECIAL REPORT: “Making Microfinance Investment Responsible” Group Wrestles with Inconsistent Data Reporting at European Microfinance Week

On this first day of European Microfinance Week, which is hosted by the 140-member European Microfinance Platform (e-MFP) of Luxembourg, e-MFP’s “Making Microfinance Investment Responsible” Action Group convened to work on the data it has collected on client protection from 10 microfinance investors, rating agencies and NGOs. Continue reading

MICROCAPITAL BRIEF: responsAbility Investments Loans $20m to Improsa Bank of Costa Rica, Supports Small and Medium-Sized Enterprises (SMEs)

The Switzerland-based investment company responsAbility Investments recently notified MicroCapital that it has disbursed a loan of USD 20 million to Improsa Bank SA of Costa Rica, a financial institution that provides services to small and medium-sized enterprises (SMEs) [1]. Continue reading

SPECIAL REPORT: Youth Financial Inclusion Group Tackles Business Training, Scaling-up, Dormant Accounts, Program Indicators, Self-sufficiency at European Microfinance Week

As part of the opening day of European Microfinance Week, a series of events hosted by the Luxembourg-based European Microfinance Platform (e-MFP), the Youth Financial Inclusion Action Group of e-MFP met today to carry on its work relating to savings and other financial services for young people, particularly those aged 15 to 24. Continue reading

MICROCAPITAL BRIEF: MicroEnsure, Telenor Pakistan, Jubilee Life Insurance Company to Offer Free Life Insurance to Prepaid Mobile Customers in Pakistan

The Pakistani arm of MicroEnsure, a UK-based microinsurance intermediary, has announced the launch of “Talkshawk Mohafiz Zindagi Beema,” a free mobile life insurance service, in collaboration with Telenor Pakistan, a unit of Norway’s Telenor Group. The insurance will be provided by Jubilee Life Insurance Company Limited, a Pakistani insurance provider [1]. Continue reading

MICROCAPITAL BRIEF: “Alternate Dispute Resolution for Microinsurance” (ADReM) Introduced in Philippines to Mediate Disputes Out of Court

The Philippines Department of Finance (DOF) and the Philippines Insurance Commission (IC), the country’s insurance regulatory authority, have introduced an “Alternate Dispute Resolution for Microinsurance” (ADReM) system to resolve complaints regarding microinsurance claims outside the court system [1]. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Lends $10m to Megabank of Ukraine to Support Agricultural Lending

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently issued a senior loan of USD 10 million to Megabank, a financial service provider in Ukraine, to increase its agricultural lending and strengthen its position in the market [1]. Continue reading

MICROCAPITAL BRIEF: Developpement International Desjardins (DID) Loans $1m to Microfinance Institution (MFI) Humo & Partners of Tajikistan

Developpement International Desjardins (DID), a nonprofit subsidiary of Canadian cooperative Desjardins Group, has provided a senior loan of USD 1 million to Humo & Partners, a Tajikistan-based microfinance institution, to expand its portfolio. Continue reading

MICROCAPITAL BRIEF: Micro Pension Foundation, Invest India Micro Pension Services, Visa Partner to Promote Savings by Low-Income Households in India

Micro Pension Foundation, an Indian nonprofit that helps low-income households gain access to microsavings products, and Visa Incorporated, a US-based payments technology company, reportedly are partnering to establish the “Micro Pension Financial Inclusion Lab” [1]. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Makes $3m Equity Investment in Bina Usaha Keluarga (BUK) of Indonesia, Seeking to Triple Female Clients of Microfinance Institution Mitra Bisnis Keluarga Ventura (MBK)

Bina Usaha Keluarga (BUK), the Indonesia-based controlling shareholder of Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) in the same country, recently received an equity infusion of IDR 34.3 billion (USD 3 million) from the International Finance Corporation (IFC), a US-based international financial institution and a member of the US-based World Bank Group, to triple the number of female clients of MBK. Continue reading

MICROFINANCE PAPER WRAP-UP: “The International Bank of Bob,” by Bob Harris; published by Walker Publishing

“The International Bank of Bob;” by Bob Harris; published by the Walker Publishing Company, Inc.; March 2013; 400 pages, http://www.bloomsbury.com/us/the-international-bank-of-bob-9781620405222/

This book stems from the moment that US-based author Bob Harris met a group of South Asian day laborers while on assignment for ForbesTraveler.com in Dubai. Continue reading

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses $515k of $872k in Loans to Mec Fadec of Senegal, Réseau National des Caisses Villageoises d’Épargne et de Crédit Autogérées (RENACA) of Benin

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs) and other social businesses, recently notified MicroCapital that it has disbursed the first half of a 30-month loan of EUR 152,000 (USD 207,000) to Mec Fadec, a Senegalese microfinance institution (MFI) [1]. Continue reading

MICROCAPITAL BRIEF: Développement International Desjardins (DID) Invests in Microfinance Currency Hedging Company MFX Solutions

Développement International Desjardins (DID), a nonprofit organization based in Canada that provides technical support and investment for development finance in emerging economies, has invested an unspecified amount in US-based MFX Solutions, a company that provides currency hedging solutions for microfinance institutions (MFIs) and microfinance investment vehicles (MIVs) [1]. Continue reading

MICROCAPITAL BRIEF: UN’s Principles of Responsible Investment (PRI) Initiative Launches New Reporting Framework Seeking to Increase Transparency

The Principles for Responsible Investment (PRI) Initiative, the United Nations-backed network of international investors seeking to integrate environmental, social and corporate governance (ESG) issues into their investment strategies, has announced the launch of a new reporting framework for its signatories that is aimed to increase the transparency of their investment activities [1]. Continue reading

MICROCAPITAL BRIEF: Triple Jump Innovation Fund Attracts $22m to Promote Financial Access in Emerging Markets

Achmea, a Netherlands-based insurance provider; KCD Mikrofinanzfonds, a German microfinance fund managed by Bank Im Bistum Essen eG; and Netherlands-based nonprofit organizations Cordaid and Oxfam Novib have invested a total of USD 22 million in Triple Jump, a Netherlands-based microfinance fund manager, for its new Triple Jump Innovation Fund [1]. Continue reading

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $31m to Komercijalna banka Beograd of Serbia, Microfinance Institution Patria Credit of Romania

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV) backed by multiple governments, has loaned EUR 20 million (USD 27.6 million) to Komercijalna banka Beograd, a bank based in Serbia, and EUR 2.5 million (USD 3.4 million) loan to Patria Credit, a non-banking microfinance institution (MFI) in Romania that seeks to provide increased financial access to micro- and small enterprises [1]. Continue reading