MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $26m to Yapi Kredi of Turkey to Support Leasing to Micro-, Small, Medium-sized Enterprises (MSMEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), has disbursed a senior loan of EUR 20 million (USD 26.4 million) to Yapi Kredi Leasing, a financial institution that is majority-owned by Turkish commercial bank Yapi Kredi, to support its leasing services for micro-, small and medium-sized enterprises (MSMEs). Continue reading

MICROCAPITAL BRIEF: EIF, EBRD, European Commission, DEG to Allocate $19.8m for Small, Medium-Sized Enterprises (SMEs) Via Western Balkans Enterprise Expansion Fund (ENEF)

The European Investment Fund (EIF), a public-private partnership that provides risk capital to small and medium-sized enterprises (SMEs), and the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced an agreement to allocate a total of EUR 14.5 million (USD 19.8 million) to support investing in SMEs in the Western Balkans region through the Western Balkans Enterprise Expansion Fund (ENEF). Continue reading

MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) Loans $6m to Peruvian Credit Unions Cooperativa de Ahorro y Crédito Abaco, Fortalecer

The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, has disbursed loans to Peruvian credit unions Cooperativa de Ahorro y Crédito Abaco and Fortalecer to expand financial services via intermediaries, including other credit unions, private firms and non-governmental organizations (NGOs) that provide retail lending to rural clients. Continue reading

MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Grants Preliminary Approval to Microlender Bandhan to Receive Banking License

The Reserve Bank of India (RBI), the country’s central bank, recently granted “in-principle” approval to the Infrastructure Development Finance Company (IDFC), an Indian financial services provider based in the city of Mumbai, and Bandhan Financial Services Private Limited, a microfinance institution (MFI) based in the Indian city of Kolkata, to acquire banking licenses. Continue reading

MICROCAPITAL BRIEF: Microfinance Institutions (MFIs) in Uganda Slow to Apply for Credit From Microfinance Support Center (MSC)

The Microfinance Support Center (MSC), an arm of the government of Uganda, reportedly is urging groups such as village savings and credit cooperative organizations (SACCOs), microfinance institutions, and small and medium enterprises, to apply for credit from the company “yet demand for it has been low” [1]. Continue reading

MICROCAPITAL BRIEF: AlHuda Centre of Islamic Banking and Economics (CIBE) to Provide Training, Capacity Building Services to Organization of Islamic Cooperation (OIC) Member Countries

AlHuda Centre of Islamic Banking and Economics (CIBE), a Pakistan-based NGO that promotes Islamic banking, and the Statistical, Economic and Social Research & Training Centre for Islamic Countries (SESRIC), a subsidiary of the Turkey-based Organization of Islamic Cooperation (OIC), have signed a memorandum of understanding to provide training and capacity building services to the central banks of the 57 member countries of OIC. Continue reading

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Lends $4m to Arvand of Tajikistan, Bina Artha Ventura of Indonesia, Thaneakea Phum of Cambodia

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs), recently announced the disbursement of the first tranche of a 54-month loan of EUR 1.04 million (USD 1.43 million) to Arvand, a financial institution that provides microcredit to low-income individuals in Tajikistan. Continue reading

MICROCAPITAL BRIEF: India-based Satin Creditcare Raises $4.7m in Equity from Norwegian Microfinance Initiative (NMI)

Satin Creditcare Network (Satin), an Indian microfinance institution (MFI), recently announced that it has raised INR 284 million (USD 4.7 million) in equity from the Norwegian Microfinance Initiative (NMI), a Norway-based public-private partnership that invests in and offers technical support to MFIs. Continue reading

MICROCAPITAL BRIEF: Etisalat Lanka of Sri Lanka, Dialog Axiata of UAE Partner to Extend Ezcash Mobile Payment System in Sri Lanka

Dialog Axiata (DA), a Sri Lankan mobile communications subsidiary of Malaysia’s Axiata Group Berhad, reportedly has announced that it will begin a partnership with Etisalat Lanka (EL), a cellular network owned by the Emirates Telecommunications Corporation of the United Arab Emirates, to extend Dialog’s “eZcash” mobile payments to EL’s customers in Sri Lanka. Continue reading

MICROCAPITAL BRIEF: American Refugee Committee (ARC) Sells Liberia-based Liberty Finance to DCRB Investments

The American Refugee Committee (ARC), a US-based nonprofit that provides humanitarian assistance in Africa, Asia, Haiti, and the Middle East, recently announced that it has sold its Liberia-based microfinance institution, Liberty Finance, to DCRB Investments (DCRB), a private investment company based in Liberia. Continue reading

MICROCAPITAL BRIEF: responsAbility Investments Lends $4m to Opportunity International Bank of Malawi

ResponsAbility Investments AG, a Swiss-based investor in microfinance and other sectors, recently announced the disbursement of a loan of USD 4 million to Opportunity International Bank of Malawi Limited (Opportunity Malawi), a member of the US-based Opportunity International network. Continue reading

MICROCAPITAL BRIEF: India-based NeoGrowth Raises $1.7m from Aspada Investment Company

NeoGrowth Credit, an Indian non-bank financial company that makes working capital and inventory loans to small and medium-sized enterprises (SMEs) in the country, recently announced that it has raised INR 100 million (USD 1.7 million) from Aspada Investment Company, an Indian investor in early-stage businesses that target low-income consumers. Continue reading

MICROFINANCE EVENT: Caribbean MicroFinance Alliance (CMFA) to Host “Fifth Caribbean Microfinance Forum: Building an Environment for Entrepreneurs to Excel,” June 2 – 5, 2014, Montego Bay, Jamaica

Event Name: The Fifth Caribbean Microfinance Forum: Building an Environment for Entrepreneurs to Excel

Event Date: June 2 – 5, 2014

Event Location: Iberostar Rose Hall Suites Hotel, Montego Bay, Jamaica Continue reading

MICROCAPITAL BRIEF: KfW, Belgian Investment Company for Developing Countries (BIO), Developpement International Desjardins, Lundin Foundation Commit $41m to AfricInvest Financial Sector Fund

AfricInvest-TunInvest Group, a Tunisia-based private equity firm, recently announced the closing of a third round of capital-raising for its AfricInvest Financial Sector Fund, a vehicle that invests in financial institutions that lend to small and medium-sized enterprises (SMEs) in North and Sub-Saharan Africa. Continue reading

MICROCAPITAL BRIEF: European Microfinance Platform (e-MFP) Announces Fifth Microfinance Award of $132k for Environmental Initiatives

The European Microfinance Platform (e-MFP), a Luxembourg-based network of approximately 130 microfinance organizations and individuals, has announced the 5th European Microfinance Award, which is themed “Microfinance and the Environment” to celebrate institutions offering new initiatives in environmental stewardship and sustainability in natural resources management. Continue reading

MICROCAPITAL BRIEF: Bank of America Invests $10m in Calvert Foundation to Support Financial Access for Women Entrepreneurs in Low-, Middle-income Countries

Bank of America, a US-based financial services provider, is investing USD 10 million in Calvert Foundation, a US-based nonprofit organization specializing in social-impact investment, to provide loans to organizations that increase financial access for women entrepreneurs in Africa, Asia, Eastern Europe and Latin America [1]. Continue reading