MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $11m to India’s Equitas Microfinance, Satin Credit Care

Standard Chartered Bank (SCB), a UK-based financial services company, recently notified MicroCapital that it disbursed loans of INR 450 million (USD 7.2 million) to Equitas Microfinance, a microfinance institution in Chennai, India, and INR 350 million (5.5 million) Satin Credit Care, a microfinance institution in Delhi, India, during August 2013. The purpose of both loans is to support on-lending to microentrepreneurs. It is estimated that 30,000 microenterprises will receive financing as a result of these two wholesale loans. Standard Chartered Bank has been associated with Equitas since 2012 and Satin since 2006. Further information on the loans has not been released. Continue reading

MICROCAPITAL BRIEF: Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic Collaborates with Codespa, La Agencia Española de Cooperación Internacional para el Desarrollo (AECID) of Spain to Launch Agricultural Loan Program

Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM), a microfinance institution based in the Dominican Republic, recently announced that it will collaborate with Codespa, a Spanish NGO that aims to increase access to jobs, healthcare and information technology, and La Agencia Española de Cooperación Internacional para el Desarrollo (AECID), a Spanish nongovernmental humanitarian organization, to provide loans to farmers in the Dominican Republic [1]. Continue reading

MICROCAPITAL BRIEF: Moody’s Analytics, Microfinance Centre (MFC) Partner to Launch Social Performance Assessment (SPA) in Europe, Central Asia

Moody’s Analytics, a unit of US-based Moody’s Corporation that aims to help capital markets and credit risk professionals respond to market changes, and the Microfinance Centre (MFC), a Poland-based microfinance resource center, recently partnered to launch Moody’s Analytics Social Performance Assessment (SPA), a tool that analyzes the performance of microfinance institutions and operations, in Europe and Central Asia. Continue reading

MICROCAPITAL BRIEF: Association of Microfinance Institutions Plans to Appeal New Law “On Restriction of Usurious Activities in the Kyrgyz Republic”

Almazbek Atambayev, the President of the Kyrgyz Republic, reportedly has signed a law entitled “On Restriction of Usurious Activities in the Kyrgyz Republic” that establishes an interest rate cap on microloans. Continue reading

MICROCAPITAL BRIEF: Bank of Papua New Guinea, Pacific Financial Inclusion Program, Centre for Excellence in Financial Inclusion to Extend Financial Inclusion to 1.6m People in Papua New Guinea by 2015

The Bank of Papua New Guinea (BPNG), the nation’s central bank, the Pacific Financial Inclusion Program (PFIP), a UN-sponsored initiative that provides financial services to poor people, and the Centre for Excellence in Financial Inclusion (CEFI), a coordinating entity for financial inclusion strategies in the country, met in August 2013 to discuss extending financial inclusion to 1.6 million unbanked and underbanked Papua New Guineans, of which 50 percent are low income women, by 2015. Continue reading

MICROCAPITAL BRIEF: responsAbility Loans $20m to UT Bank Ghana to Support Small- and Medium-sized Enterprises (SMEs)

ResponsAbility Social Investments, a Swiss investment company with a focus on microfinance, recently notified MicroCapital that it disbursed a loan of USD 20 million in August 2013 to UT Bank Ghana Limited (UT Bank), a Ghanaian commercial bank with 26 branches. The loan will be used to support small and medium-sized enterprises (SMEs) [1]. Continue reading

MICROCAPITAL BRIEF: Blue Label Telecoms, MasterCard Partner to Provide Point-of-Sale Devices (POS) to Rural Shops in South Africa

Blue Label Telecoms Limited (Blue Label), a South Africa-based distributor of financial transaction services, and MasterCard, a US-based payments and technology company, are partnering to provide 22,000 small traders and rural shop owners in South Africa with point-of-sale (POS) devices that will allow businesses currently operating on a cash-only basis to accept card payments [2]. Blue Label set up POS terminals throughout South Africa, but the partnership with MasterCard will allow the distributor to reach more small- and medium-sized retailers and service providers. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $1m to Transcapital Financial Services (TFS) of Mongolia to Support Micro-, Small, Medium-sized Enterprises

The UK-based European Bank for Reconstruction and Development (EBRD) recently signed a deal with Mongolian microfinance institution (MFI) Transcapital Financial Services (TFS) to provide a local-currency loan of MNT 1.62 billion (USD 1 million) for on-lending to microenterprises throughout Mongolia. Continue reading

MICROCAPITAL BRIEF: Palestine Monetary Authority (PMA), Banking Production Centre (BPC) Banking Technologies Group Partner to Provide Electronic Money in Palestine

The Palestine Monetary Authority (PMA), the territory’s central bank, with the help of the Banking Production Centre (BPC) Banking Technologies Group, a Russia-based e-payment solutions provider for the financial industry, plans to launch a national electronic payment system in an effort to transition Palestine away from its current cash and check system. Continue reading

MICROCAPITAL BRIEF: Central Bank of Nigeria Launches $1.3b Micro, Small and Medium Enterprises Development Fund

The Central Bank of Nigeria (CBN), the country’s central banking authority, reportedly has launched a NGN 220 billion (USD 1.3 billion) Micro, Small and Medium Enterprises (MSME) Development Fund, which is intended to offer loans to microfinance institutions (MFIs) at an interest rate of 9 percent or less per year [1]. Continue reading

MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $1m to Middle East Micro Credit Company (MEMCC) of Jordan to Expand Lending Services

The Sanad Fund for MSME (micro-, small, and medium-enterprises), a Luxembourg-based initiative that invests in financial institutions in the Middle East and North Africa, recently provided a local-currency loan of JOD 709,000 (USD 1 million) to the Middle East Micro Credit Company (MEMCC), a Jordan-based for-profit development institution that operates under Global Communities, provides loans to micro-, small, and medium-sized enterprises, to further expand its lending services [1]. Continue reading