The European Fund for Southeast Europe (EFSE) has reported to MicroCapital that it has made of the following amounts in support of microfinance during April 2012: USD 10 million to Inecobank of Armenia, USD 7 million to Megabank of Ukraine and approximately USD 6.66 million to Partner MikroKreditna Fondacija Tuzla of Bosnia and Herzegovina. Continue Reading »

The National Association of Microfinance Banks (NAMB), a trade group of microfinance banks in Nigeria, reportedly has announced that microfinance banks accounted for 3 percent of Nigeria’s gross domestic product (GDP) in 2011, which was USD 413 billion. Continue Reading »

Grameen Foundation India, a subsidiary of the US-based Grameen Foundation that promotes access to microfinance and technological services, has launched an iteration of the Progress Out of Poverty Index (PPI), a tool that measures poverty levels of groups and individuals, for India. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with mobile-oriented Philippine bank BPI Globe BanKO “to develop microfinance that would help smaller businesses afford clean energy and energy-saving systems.” Continue Reading »

The Bank of Ghana (BoG), Ghana’s central bank authority, reportedly is expected to halt the operations of four unlicensed microfinance institutions (MFIs): MEDLORM Microfinance Limited, African Guarantee Trust, Abbey Cash Microfinance Limited and Swift Financial Services. Continue Reading »

UK-based financial services company HSBC (formerly known as the Hongkong and Shanghai Banking Corporation), Dubai-based microfinance investor Grameen-Jameel and Bankers without Borders (BwB), a program of the US-based Grameen Foundation, are partnering to provide financial and technical expertise to microfinance institutions (MFIs) in the Middle East and North Africa. Continue Reading »

The State Bank of Vietnam (SBV), a Vietnamese government agency, recently has announced plans to implement a microfinance sector development project in the country until 2020. Continue Reading »

A new umbrella microfinance institution (MFI) SA Financial Enterprise Agency (Safea) has reportedly been established under the Industrial Development Corporation (IDC), a development finance institution backed by the government of South Africa. Continue Reading »

The Rafael B Buenaventura Microfinance Resource Center Foundation (RBB Foundation), an institution in the Philippines that aims to develop sustainable microfinance through capacity building, will honor five microfinance institutions (MFIs) for their pioneering initiatives and exemplary work in its first awards ceremony on November 30, 2012. Continue Reading »

A trial government-run microinsurance program is currently being conducted involving cotton farmers in the Bunda district of Tanzania. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, is sponsoring a series of workshops for small and medium-sized enterprises (SMEs) in Egypt “on how to implement sound corporate governance standards to improve their performance, increase access to finance and foster sustained growth.” Continue Reading »

US Secretary of State Hillary Clinton has expressed her support for Nobel Peace Laureate Dr Muhammad Yunus and urged the Bangladeshi government “not to undermine the independence of the Grameen Bank.” Continue Reading »

The Uganda Revenue Authority (URA), Uganda’s tax collection entity, has introduced a mobile phone payment system accepting tax payments from customers of Abu Dhabi-based Warid Telecom. Continue Reading »

Bangko Sentral ng Pilipinas (BSP), the central banking authority of the Philippines, has announced it is considering strengthening its Special Program for Rural Banks (SPRB), which lays out guidelines for assisting “distressed” rural banks. Continue Reading »

Lok Capital, a Mauritius-based microfinance investment vehicle, has reportedly announced plans to sell its stake in Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI). Continue Reading »

Waseela Microfinance Bank Limited (WMBL), a microfinance institution (MFI) in Pakistan, reportedly has announced the opening of its first branch, which is located in Islamabad, Pakistan. Continue Reading »

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with the eight countries of the West African Monetary Union (UEMOA in French) to increase access to finance for the region’s small-scale businesses. Continue Reading »

The Korean Ministry of Strategy and Finance (MOSF) has signed an agreement with the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, to provide USD 1 million to support programs for small and medium-sized enterprises (SMEs) in emerging markets. Continue Reading »