“Is Health Microinsurance Sustainable? An analysis of Five South Asian Schemes,” by Michael Weilant, published by the International Labor Organization, May 2015, 45 pages, available at: http://www.impactinsurance.org/sites/default/files/mp41_final.pdf
This paper analyzes five health microinsurance (HMI) schemes operating in India, Bangladesh and Pakistan in order to evaluate the sustainability of HMI. All five schemes were in operation for more than 3 years and serve more than 25,000 active customers.
The Indian microfinance institution, Bandhan Financial Services, which received a provisional banking license from the Reserve Bank of India (RBI) in 2014, recently announced that it has received final approval from RBI that allows it to accept deposits. The organization intends to start offering banking services beginning August 23, 2015.
Incofin Investment Management (Incofin IM), a Belgium-based manager of microfinance investment funds, recently announced the first close of agRIF, a 10-year debt and equity investment fund, at a total value of USD 71 million.
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, recently announced that it is increasing its support of small and medium-sized enterprises (SMEs) in Tunisia. The European Union (EU) through the Programme d’Appui à la Compétitivité des Services (PACS) is providing EUR 10 million (USD 11.3 million) to the initiative.
The Luxembourg-based Sanad Fund for MSME (micro-, small and medium-sized enterprise) recently donated USD 28,000 to Vitas Group, a commercial holding company created by US-based, international nonprofit organization Global Communities, to train the staff of Vitas Group’s microfinance institutions in the Middle East on client protection.
Good World Solutions (GWS), a US-based nonprofit organization that develops anonymous tools for people to report on how companies treat them, has built a mobile-based interactive voice response survey service to gather information from microfinance borrowers in India to determine whether microfinance institutions (MFIs) are following the client protection principles of the US-based Smart Campaign.
GlobeOne, a US-based company providing a mobile platform for the provision of financial services, recently signed a letter of intent with Eximbank, a joint-stock commercial bank that is controlled by the Vietnamese government, to bring its platform to Vietnam.
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, is planning to loan USD 60 million to Bank Audi Societe Anonyme Egyptienne (SAE), the Egyptian arm of Lebanon-based Bank Audi.
Silatech, a Qatar-based social enterprise aiming to increase employment and entrepreneurship among youth in the Middle East and North Africa, recently announced the development of Narwi, a nonprofit crowdfunding platform that will support microentrepreneurs via Islamic charitable giving. The platform is scheduled to be launched in late June 2015.
The Multilateral Investment Fund (MIF), a member of the IDB (Inter-American Development Bank) Group, has announced that it is accepting applications for the 2015 Inter-American Awards for Financial and Entrepreneurial Innovation, which is intended to recognize the achievements of institutions that support financial inclusion in Latin America and the Caribbean.
“Ending the Microfinance Crisis in Morocco: Acting early, acting right;” published by the International Financial Corporation in partnership with the Canadian Department of Foreign Affairs, Trade, and Development; the Danish International Development Agency; Japan; Switzerland’s State Secretariat for Economic Affairs; and UKaid; October 2014; available at http://www.ifc.org/wps/wcm/connect/5e1e5a0047850bdba0d4f5299ede9589/IFC+Morocco+MicroFinance+Crisis+report.English.pdf?MOD=AJPERES
Indian microfinance institution SKS Microfinance, which is listed on India’s National Stock Exchange and the Bombay Stock Exchange, announced recently that it would reduce its microloan interest rates from 23.55 percent to 22 percent as of July 1, 2015.
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, is considering the disbursement of KZT 9.3 billion (USD 50 million) to Bank CenterCredit, a commercial bank in Kazakhstan.
MicroCapital: The agenda of Semaine Africaine de la Microfinance (SAM) emphasizes improving services in rural areas; is there something in that realm that you would like to highlight?
Mohamed Attanda: Yes, we have noted for the past several years that rural areas have not been well served by traditional financial institutions, so there has been a need for microfinance institutions to focus on rural areas and family farms. How microfinance institutions can deal with this problem is a big question. The large size of African Microfinance Week gives us more opportunities to work together to innovate in rural finance in Africa.
MC: Several networks have collaborated to create SAM. What is the advantage in collocating their general assemblies in conjunction with a conference?
The International Organization of La Francophonie (IOF), a Paris-based organization of 80 French-speaking countries, and the government of Canada recently announced an agreement under which Canada would contribute approximately USD 10 million to IOF to promote employment for women and youth through entrepreneurship in francophone Sub-Saharan Africa.
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, has announced that it is “deepening its partnership” with Georgia’s BasisBank by disbursing it a credit package of USD 31.5 million.
The European Union (EU), the UK-based, multilateral European Bank for Reconstruction and Development (EBRD) and the Turkish government have partnered to introduce the Finance and Advice for Women in Business Programme in the northwest region of Turkey.
Azerbaijan’s Communications and High Technologies Ministry recently announced that Azerpoçt, the country’s government-backed postal service provider, plans to start microlending as a part of the ministry’s plans to expand its credit offerings.