MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $67m in Equity in Bank Alfalah of Pakistan to Promote Financial Access for Small, Medium-sized Enterprises (SMEs); Economic Growth; Job Creation

The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it will invest USD 67 million in Bank Alfalah (Alfalah), a Pakistan-based financial institution.

MICROCAPITAL BRIEF: UAE’s Khalifa Fund for Enterprise Development Loans $200m to Egyptian Government for Microfinance

The Khalifa Fund for Enterprise Development (Khalifa Fund), a fund backed by the government of the emirate of Abu Dhabi, has announced that it will loan USD 200 million to the government of Egypt to fund microfinance programs in that country.

MICROCAPITAL BRIEF: Desjardins Fund for Inclusive Finance Acquires Stake in Microfinance Institution Humo & Partners of Tajikistan

The Desjardins Fund for Inclusive Finance, a unit of Canada’s Desjardins Group, recently acquired shares in Humo and Partners, a microfinance institution (MFI) based in Dushanbe, Tajikistan, to support the expansion of the MFI in rural parts of the country.

MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $5m to Muganbank of Azerbaijan for On-lending to Rural Micro-, Small, Medium-sized Enterprises (MSMEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it has established a partnership with Muganbank Open Joint Stock Company (OJSC) (Muganbank), a retail and corporate bank in Azerbaijan.

MICROCAPITAL BRIEF: 4th Global Islamic Microfinance Forum Hosted by AlHuda Center of Islamic Banking and Economics, Concludes with Release of “Road Map of Industrial Promotion”

The 4th Global Islamic Microfinance Forum was hosted by the AlHuda Center of Islamic Banking and Economics (AlHuda) in November in Dubai, United Arab Emirates, bringing together delegates from 25 countries including this author.

MICROCAPITAL BRIEF: Fondazione Giordano Dell’Amore, European Microfinance Network Announce 7th Edition of $62k Microfinance Good Practices Europe Award

Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, and the European Microfinance Network, a Belgian nongovernmental organization (NGO), recently announced the seventh annual edition of the Microfinance Good Practices Europe Award, a series that aims to increase awareness about microfinance as a tool for alleviating poverty and promote the sharing of good practice among microfinance organizations in Europe.

MICROCAPITAL BRIEF: Mahindra Comviva, Econet Wireless to Launch ConnectMoney Mobile Payment Service in Zimbabwe

Mahindra Comviva, an Indian service provider to mobile operators, reportedly has partnered with the Zimbabwean arm of South Africa’s Econet Wireless to execute the first deployment of the “connectMoney Service Manager”, which will allow users of the EcoCash service of EcoNet to withdraw cash at designated automated teller machines (ATMs) and perform other financial transactions online.

MICROCAPITAL BRIEF: Triodos Sells 14.5% Equity Stake in K-rep Bank of Kenya to Existing Shareholders Centum Investment, K-rep Group

The Triodos Sustainable Finance Foundation, a unit of the Netherlands-based Triodos Bank, recently sold its entire 14.5-percent equity stake in K-rep Bank of Kenya, a commercial bank founded in 1999 that provides services to low-income people.

MICROCAPITAL BRIEF: European Investment Bank (EIB), Government of Luxembourg Sign Memorandum of Understanding to Provide $4.5m in Grants to Microfinance Institutions (MFIs) in African, Caribbean, Pacific Countries

The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), and the Government of Luxembourg recently signed a memorandum of understanding (MoU) to provide grants totaling EUR 3.6 million (USD 4.5 million) to unspecified microfinance institutions (MFIs) in Africa, the Caribbean and the Pacific.

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Establish $99m Sustainable Energy Financing Facility for Morocco; to Loan $6m to Banque Marocaine du Commerce Extérieur (BMCE) of Morocco for On-Lending for Sustainable Energy Investments; to Establish $37m Sustainable Energy Financing Facility for Jordan

The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution headquartered in England, is considering the establishment of a EUR 80 million (USD 99.4 million) “Sustainable Energy Financing Facility for Morocco”[1] (MorSEFF) that would disburse loans to EBRD’s partner financial institutions in Morocco.

MICROCAPITAL BRIEF: IFAD, OPEC Fund for International Development Lend $36m to Support Infrastructure and Rural Financial Support Programme in Armenia

The International Fund for Agricultural Development (IFAD), an agency of the United Nations that aims to alleviate poverty, has agreed to lend USD 11 million to the Republic of Armenia for a “Infrastructure and Rural Finance Support Programme,” a USD 52.8 million initiative that aims to create sustainable employment opportunities and higher incomes for people in “the business, financial and agricultural sectors” of the Armenian economy [1].

MICROCAPITAL BRIEF: FairTrade Access Fund (FAF) Issues Trade Finance Loan Worth $931k to Ecookim of Cote D’Ivoire

FairTrade Access Fund (FAF), an affiliate of German NGO Fairtrade International that provides loans to farmers in developing countries, recently announced that it has issued a trade finance loan of EUR 750,000 (USD 931,000) to Ecookim, a union of cooperatives based in Cote d’Ivoire, to support the purchase of cocoa beans from 3,700 local suppliers in Central and Western Cote d’Ivoire.

MICROCAPITAL BRIEF: Impact Investment Exchange Asia (IIX) Launches Impact Accelerator in Philippines to Provide Financial, Operational Support to Early-Stage Social Enterprises

Impact Investment Exchange Asia (IIX), a Singapore-based for-profit company that provides capital to social enterprises (SEs), recently launched an Impact Accelerator program in the Philippines that will provide four early-stage SEs with seed capital and tailored mentorship and advisory services in an effort to decrease the time needed for the businesses to grow.