Symbiotics, a Switzerland-based investment company that focuses on emerging markets, recently informed MicroCapital that it has completed bond transactions with a total value of USD 22 million.
“A Billion to Gain? Microfinance Clients Are Not Cut from the Same Cloth,” by G. Hieminga, R. Budjhawan, S. Eriksen, I. Unger; published by ING Bank; November 2015; 8 pages; available at: http://www.ingcb.com/insights/research/microfinance-emancipating-the-worlds-poorest
Banque Centrale des Etats de L’Afrique (BCEAO), the central bank for eight West African countries, and the Islamic Corporation for the Development of the Private Sector (ICD), a development finance institution affiliated with the Saudi Arabia-based Islamic Development Bank, recently agreed to provide USD 30 million to small and medium-sized enterprises (SMEs) in the West African Economic and Monetary Union (WAEMU).
During January 2016, Austria’s C-Quadrat Asset Management issued loans worth the equivalent of USD 6.5 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in China and Panama.
Pro Mujer, a US-based nonprofit that provides healthcare, training and financial services to women in Latin America, recently appointed Maria Cavalcanti as its President and CEO.
Symbiotics Group, a Swiss for-profit provider of investment and business services, recently issued the second tranche of a bond totaling USD 5.5 million to Prasac, a Cambodian microfinance institution (MFI).
The Luxembourg Directorate for Development and Cooperation (LuxDev), a government-owned institution encouraging international development, has awarded a donation of EUR 200,000 (USD 218,000) to ADA, a Luxembourg-based nonprofit organization formerly known as Appui au Developpement Autonome. The donation is intended to assist Asusu, a Niger-based microfinance institution (MFI).
Sa-Dhan, an India-based association of 214 microlenders and other financial institutions, and the Microfinance Institutions Network (MFIN), a trade association of 48 Indian microfinance lenders, recently launched a revised code of conduct.
Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, and the European Microfinance Network, a Belgian nongovernmental organization (NGO), recently announced the eighth annual edition of the Microfinance Good Practices Europe Award, a series that aims to increase awareness about microfinance as a tool for alleviating poverty and promote the sharing of good practice among microfinance organizations in Europe.
Event Name: 12th Global Microfinance Forum
Event Date: March 17-18, 2016
Event Location: Eurostars Berlin Hotel, Berlin, Germany
Olympus Capital Asia, a private equity firm with offices in Hong Kong, New Delhi, Seoul, Shanghai, Singapore and New York, recently invested USD 30 million in equity in CreditAccess Asia, a Dutch operator of microfinance institutions (MFIs) in India, Indonesia and the Philippines, aiming to help expand CreditAccess Asia’s retail lending services.
The UK government’s Department for International Development (DFID) recently awarded a “returnable” grant of GBP 2 million (USD 3 million) to World Vision UK, a branch of US-based NGO World Vision International, and VisionFund International, a microfinance organization owned by World Vision, to help families in six African countries recover from anticipated severe weather caused by El Niño, a phenomenon of warmer than average waters in the eastern Pacific Ocean.
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will loan EUR 5 million (USD 5.4 million) to Opportunity Bank Serbia (OBS), a branch of US-based microfinance network Opportunity International, to improve access to finance for micro -and small enterprises (MSEs) and low-income households in rural areas of Serbia.
The Livelihoods and Food Security Trust Fund, a Myanmar-based multi-donor trust fund, recently has donated a three-year USD 4.5 million grant to three organizations affiliated with US-based NGO World Vision, to aid approximately 100,000 people in gaining improved access to financial services.
SKS Microfinance Limited, a for-profit microfinance institution (MFI) headquartered in Hyderabad, India, recently partnered with IBM MobileFirst, the mobile division of US-based information technology company International Business Machines (IBM), in an effort to improve staff productivity in acquiring customers, completing loan disbursements and collecting repayments .
Omidyar Network, a US-based investment firm, recently made an investment of undisclosed amount in eCurrency Mint (eCM), an Ireland-based company that has developed a technology that enables central banks to issue digital currency, called eCurrency.
Event Name: Mobile Money Asia 2016
Event Date: January 19-21, 2016
Event Location: Pullman Jakarta Central Park Hotel, Jakarta, Indonesia
“Global Financial Development Report 2015/2016,” published by the World Bank, September 2015, 211 pages, available at http://www.worldbank.org/en/publication/gfdr/report