MICROCAPITAL BRIEF: Silatech, Macroinvest, Jaida, Afif, ANAPEC, IYF, Ministry of Tourism to Support Moroccan Small and Medium-Sized Enterprises (SMEs), Youth

Silatech, a Qatar-based social enterprise that seeks to promote youth entrepreneurship and employment in Arab countries, recently announced seven new partnerships in an effort to support small and medium-sized enterprises (SMEs) and youth in Morocco. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $4m to FINCA Georgia to Support Micro- and Small Businesses, Entrepreneurs

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will provide a USD 4 million loan to the Republic of Georgia-based subsidiary of the Foundation for International Community Assistance (FINCA), a US-based microfinance network, for on-lending to micro and small businesses as well as entrepreneurs in rural regions of Georgia. Continue reading

MICROCAPITAL BRIEF: Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO) to Loan $10m to Societe Generale Ghana, Part for Small, Medium-Sized Enterprises (SMEs)

Societe de Promotion et de Participation pour la Cooperation Economique SA (PROPARCO), a French public-private development finance institution, reportedly has signed a seven-year USD 10 million loan agreement with Societe Generale (SG) Ghana, a Ghanaian bank that is a subsidiary of the French-owned Groupe Societe Generale, for on-lending to small and medium-sized enterprises (SMEs) as well as larger corporations. Continue reading

MICROCAPITAL BRIEF: Myanmar Licences First Private Insurers

The Myanmar government reportedly has granted operating licenses to five insurance companies in line with its financial reform policy. International Kanbawza Insurance, a subsidiary of Kanbawza Bank (KBZ) is the first insurance company to have started operation in the city of Yangon, providing both standard insurance and microinsurance[1]. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considering $85m Facility for DeltaCredit Bank of Russia for Residential Mortgage Loans

The UK-based European Bank for Reconstruction and Development (EBRD) recently revealed the pending approval of a finance facility of up to the equivalent of USD 85 million disbursed in a mix of USD and RUB to DeltaCredit Bank, a commercial bank in Russia that specializes in mortgages for residential housing loans. Continue reading

MICROCAPITAL BRIEF: Advans SA to Create Tunisian Microfinance Institution Advans Tunisie

Advans SA SICAR (Advans SA), a microfinance investment vehicle managed by Horus Development Finance of France, recently announced plans to start Advans Tunisie, a microfinance institution (MFI) that will apply for a license from the Tunisian Ministry of Finance with the aim of launching before December 2013. Continue reading

MICROCAPITAL BRIEF: AccessBank of Azerbaijan Receives $60m Syndicated Loan from FMO, OeEb, PROPARCO

Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Dutch development finance institution, recently notified MicroCapital that it has arranged a USD 60 million syndicated loan facility for AccessBank, a for-profit microfinance institution located in Azerbaijan. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers $100m Loan to Sberbank Kazakhstan (SBK) for Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, is reviewing a proposal to invest KZT 15 billion (USD 100 million) in the Subsidiary Bank Sberbank of Russia Joint Stock Company (SBK) in Kazakhstan, a commercial banking subsidiary of Sberbank of Russia, to increase financial access for micro-, small and medium-sized enterprises (MSMEs) in Kazakhstan. The EBRD board of directors will consider the proposal in July 2013. Continue reading

MICROFINANCE PUBLICATION ROUND-UP: Microcredit in Mexico, Impact Investing and Microfinance, Microinsurance and Preventing Child Labor

 “Win Some Lose Some? Evidence from a Randomized Microcredit Program Placement Experiment by Compartamos Banco;” by Manuela Angelucci, Dean Karlan and Jonathan Zinman; published by Innovations for Poverty Action; May 2013; 68 pages; available at: https://poverty-action.org/sites/default/files/ipa_winsomelosesome_release_0.pdf

This paper presents an analysis of whether microcredit products are counterproductive to promoting economic empowerment, especially when such products are offered at high interest rates. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Considers $25m Loan to Mongolia’s Khan Bank for Micro-, Small, Medium-Sized Enterprises (MSMEs)

The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, is reviewing a proposal to invest USD 25 million in Khan Bank, a Mongolian institution, to provide funding for micro-, small and medium-sized enterprises (MSMEs) in Mongolia. Khan Bank classifies 51 to 60 percent of its operations as microfinance. The EBRD board of directors will consider the proposal in July 2013. Continue reading

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Extends $10m Loan, $8m Trade-Finance Credit Line to Banco Financiera Centroamericana (Ficensa) of Honduras for Small and Medium-Sized Businesses

The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it will provide a USD 10 million senior loan and a USD 8 million trade-finance credit line to Banco Financiera Centroamericana (Ficensa), a Honduran financial institution, for on-lending to small and medium-sized businesses. Continue reading

MICROCAPITAL BRIEF: Citing Bank Delays, Kenya’s Youth Enterprise Development Fund (YEDF) to Boost Direct Lending to Young Entrepreneurs

The Youth Enterprise Development Fund (YEDF), a Kenyan state corporation established in 2006 that provides loans for youth-owned or youth-focused enterprises, reportedly has applied for a deposit-taking microfinance license from the Central Bank of Kenya, and will increase its focus on providing loans directly to young entrepreneurs in Kenya. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $106m to Banca Comerciala Romania (BCR) for Small and Medium-Sized Enterprises (SMEs)

The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently approved a EUR 80 million (USD 106 million) loan to Banca Comerciala Romania (BCR), a member of Austria-based financial service provider Erste Group Bank AG, for on-lending to small and medium-sized enterprises (SMEs) in Romania. Continue reading