MICROCAPITAL BRIEF: OPIC to Support Citi in Loaning up to $200m to Support Small Businesses in Africa, Asia, Eastern Europe, Latin America

Citigroup (Citi), a US-based financial services corporation, and the Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, reportedly have partnered to deliver USD 200 million to Citi’s local and multinational corporate and financial institution clients [1]. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Issues Local-currency Loan of $1.5m to First MicroCredit Company of Kyrgyz Republic

The UK-based European Bank for Reconstruction and Development (EBRD), a multilateral institution that finances development projects, recently provided a local-currency loan equivalent to USD 1.5 million to First MicroCredit Company (FMCC), a Kyrgyz microfinance institution, to support on-lending to its micro-, small and medium-sized enterprise (MSME) customers, especially those in the agricultural sector. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers Lending $23.5m to Russia’s Transcapitalbank for Residential Energy Efficiency

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, is considering financing a senior loan of RUB 750 million (USD 23.5 million) to Transcapitalbank (TCB), a Russia-based banking institution, for on-lending for residential energy-efficiency projects. Continue reading

MICROCAPITAL BRIEF: Shell Foundation, GroFin to Provide $100m in Risk Capital, Business Support to Small, Medium-Sized Enterprises in Middle East, Africa

The Shell Foundation, a social investment initiative of Netherlands-based petroleum firm Royal Dutch Shell Private Limited Company, reportedly has partnered with GroFin, a South African small and medium-sized enterprise (SME) financier, to launch a program to provide USD 100 million in risk capital and unspecified business support to SMEs in the Middle East and Africa. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Launches Online Environmental, Social Training Program for Clients

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution that finances development projects, recently launched an online environmental and social training program that aims to help its clients manage the environmental and social risks that arise from their lending operations. Continue reading

MICROCAPITAL BRIEF: Former JP Morgan Asset Management Chairman Unveils $40m Impact Investment Fund, Charioteer-Fund I, to Support Skill Development, Microenterprises in India

Krishnamurthy Vijayan, the former executive chairman of JP Morgan Asset Management India, a Mumbai-based subsidiary of international investment and commercial bank JP Morgan Chase, reportedly has created Charioteer Fund-I, an INR 2.5 billion (USD 40 million) impact investment fund that will seek to place with investments in 25 ventures. Continue reading

MICROCAPITAL BRIEF: 9th Annual Clinton Global Initiative (CGI) Participants Commit to Advancing 15,000 Women-owned Businesses by 2018

The 2013 Clinton Global Initiative (CGI), an annual meeting that brings together global leaders in an effort to address international problems, was held September 23-26 and focused on ways that CGI members can mobilize people to action to solve world problems [1]. Continue reading

MICROCAPITAL BRIEF: PlaNet Finance Partners with Thaneakea Phum Cambodia (TPC), China Foundation of Poverty Alleviation (CFPA) to Implement Microfinance Risk Management System

PlaNet Finance, a France-based nongovernmental organization, recently partnered with Thaneakea Phum Cambodia (TPC), a Cambodia-based microfinance institution (MFI), and the China Foundation of Poverty Alleviation (CFPA), a China-based microfinance lender, to integrate PlaNet Finance’s new risk management system into the two Asian MFIs’ operations. Continue reading

MICROCAPITAL BRIEF: Philippines-based Cebuana Lhuillier Insurance Solutions (CLIS) Launches “Microinsurance on Wheels”

Cebuana Lhuillier Insurance Solutions (CLIS), a Philippines-based insurance provider, reportedly has launched a “Microinsurance on Wheels” campaign in an effort to increase financial literacy including awareness of the benefits of microinsurance products in low-income rural areas of the Philippines. Continue reading

MICROCAPITAL BRIEF: Cambodian Microbank Sathapana, ElectraCard Partner to Provide ATM, Debit Card Services

Sathapana Limited, a Cambodia-based microfinance institution (MFI), reportedly has partnered with ElectraCard Services (ECS), a subsidiary of India-based Opus Software Solutions that provides electronic payment services, to provide automated teller machine (ATM) and debit card services to Sathapana customers. Continue reading

MICROCAPITAL BRIEF: Microfinance Companies in Ghana Allegedly “Reaping Heavily” from Small Businesses via High Interest Rates

Microfinance companies in Ghana reportedly are “reaping heavily” from high interest rates charged to consumers, who are often unaware of the flat-rate interest calculation method used by most microfinance companies that forces borrowers to pay interest on the initial loan amount rather than on their remaining balance. Continue reading

MICROCAPITAL BRIEF: Indian Government Seeks Parliamentary Approval for $859m in Spending for Women’s Bank; Women’s Safety; Skills Training; Micro-, Small and Medium-Sized Enterprises (MSMEs); International Monetary Fund (IMF)

The Indian government reportedly is awaiting the Parliament’s approval to spend an additional INR 54.3 billion (USD 859 million) for several institutions including an additional INR 10 billion (USD 159 million) for each of the following: Nirbhaya Fund, a fund supporting women’s safety in India; National Skill Development Corporation (NSDC), which is backed by the Indian Ministry of Finance and provides skill training programs to India’s workforce; and to establish a women’s bank in India. Continue reading

MICROCAPITAL BRIEF: Ngozi Okonjo-Iweala (NOI) Poll Reveals Mobile Money Not Widely Adopted in Nigeria

A recent survey in Nigeria on the adoption of mobile money services, conducted by the Ngozi Okonjo-Iweala (NOI) Polls, an opinion polling and research organization based in Nigeria, concluded that sixty percent of Nigerians do not know what mobile money is or that it is offered in their country. Continue reading

MICROCAPITAL BRIEF: Central Bank of Liberia Loans $483k to Three Counties in Western Liberia to Promote Financial Inclusion

The Central Bank of Liberia (CBL), the country’s central bank, reportedly has granted loans totaling LRD 38 million (USD 483,000) to 106 financial institutions located in the Liberian counties of Bomi, Grand Cape Mount and Gbarpolu in an effort to “empower” rural businesses and increase the financial inclusion of rural people [1]. Continue reading