The UK-based European Bank for Reconstruction and Development (EBRD) has lent the local-currency equivalent of USD 9 million to Kompanion Financial Group, a microfinance institution (MFI) based in Kyrgyzstan, and EUR 5 million (USD 5.4 million) to Albaraka, the first Moroccan MFI to partner with EBRD  .
After receiving approval from regulators in Kenya and Democratic Republic of the Congo (DRC), Equity Group, a Kenya-based commercial bank, recently acquired 79 percent of the shares of ProCredit Bank Congo, which is located in DRC and focuses on serving small and medium-sized enterprises. The price of the acquisition has not been disclosed.
Event Name: Microfinance Egypt Summit
Event Dates: March 23-24, 2016
Event Location: The Nile Ritz-Carlton Cairo, Egypt
For an undisclosed price, Base of Pyramid Asia (BOPA), a Singapore-based equity investor in small, Asian microfinance institutions (MFIs), recently purchased a 20-percent stake in Matin, a Tajikistan-based microfinance deposit organization (MDO).
The European Investment Bank (EIB), the long-term lending institution of the European Union (EU), recently lent Faulu Microfinance Bank (Faulu MFB), a Kenya-based microfinance institution (MFI), KES 1 billion (USD 9.79 million) under EIB’s East African Community Microfinance Facility .
The Reserve Bank India (RBI), the nation’s central banking authority, has eased the maximum allowance of a variance of 4 percent between minimum and maximum interest rates on loans by microfinance institutions (MFIs) in order to encourage the provision of cheaper loans to those members of Scheduled Castes (SC), historically disadvantaged people in India, who earn less than double the international poverty line defined by the United Nations (UN) as USD 1.25 per day.
During October 2015, Austrian asset manager C-Quadrat Asset Management issued loans worth the equivalent of USD 9.2 million via its two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Cambodia, Congo, Ecuador, India, Kenya, Nicaragua and Peru.
“Client Protection Principles: Model Law and Commentary for Financial Consumer Protection;” published by the Microfinance CEO Working Group; April 2015; 66 pages; available at: http://microfinanceceoworkinggroup.org/wp-content/uploads/2015/04/CPP-Model-Laws-April-2015.pdf
This publication offers guidelines for creating legislation to protect low-income consumers of financial services.
The Reserve Bank of India (RBI), the central banking authority of the country, recently has given “in-principle approval” of the requests for Small Finance Bank Licences of the following microfinance institutions (MFIs): Jaipur-based Au Financiers, Jalandhar-based Capital Local Area Bank, Ahmedabad-based Disha Microfin, Chennai-based Equitas, Chennai-based ESAF Microfinance and Investments, Bengaluru-based Janalakshmi Financial Services, Guwahati-based RGVN (North East) Microfinance, Chennai-based Suryoday, Bangalore-based Ujjivan and Varanasi-based Utkarsh.
The European Commission (EC), the executive body of the European Union (EU), recently launched EaSI-MicPro, a new online platform where microcredit providers can present information about their operations.
Fidelity Information Services (FIS), a US-based banking and payment technology provider, has launched “Banking on Demand,” a service that uses “shared technology infrastructure” to allow financial services companies to manage their operations without establishing their own banking infrastructure.
Event Name: Zambia Event, FI2020 Week
Event Date: 8 AM – 4 PM CAT, November 4, 2015
Event Location: Online
Event Cost: Free
The European Commission, the European Union’s executive body; the European Investment Fund (EIF), an EU-affiliated provider of finance to organizations that lend to small and medium-sized enterprises (SMEs); and six European microfinance institutions (MFIs) recently signed guarantee agreements under the European Programme for Employment and Social Innovation (EaSI), an initiative that supports “the modernisation of employment and social policies,” job mobility, microfinance, microenterprises and social inclusion in the European Union.
The Asian Development Bank (ADB), a multilateral development finance institution based in the Philippines; the Small Farmers Development Bank, a wholesale provider of credit to agricultural cooperatives and microfinance institutions (MFIs) in Nepal; and the Nepalese government reportedly approved a financial assistance package of USD 17.8 million for reconstruction, relief and preparedness for future disasters in Nepal following the earthquakes that hit the country in April and May 2015.
Fidelity Information Services (FIS), a US-based banking and payment technology provider, has established a Financial Inclusion Lab in Bengaluru, India.
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will syndicate a loan of USD 135 million to Vicentin, an Argentinian agribusiness company, to support its export business.
The Joint Farmers Microfinance Bank (JFMB), a microcredit organization that is based in Oyo, Nigeria, has commenced operations with unspecified number of branches in Abuja, Delta, Edo, Ekiti, Kogi, Kwara, Lagos, Ogun, Ondo and Osun.
Event Name: Inclusive Finance India Summit, Livelihoods Asia Summit
Event Date: December 8-9, and December 10-11, 2015, respectively
Event Location: The Ashok and Eros Hotels, New Delhi, India, respectively