MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $3m to Arnur Credit to Support Micro- and Small Enterprises in Rural Kazakhstan

The European Bank for Reconstruction and Development (EBRD), a multilateral development finance institution headquartered in London, has agreed to provide a local-currency loan in an amount equivalent to USD 3 million to Arnur Credit, a microfinance institution (MFI) in Kazakhstan, for on-lending to micro- and small enterprises (MSEs) in rural areas of the country. Continue reading

MICROFINANCE PUBLICATION ROUND-UP: Banking on Change Partnership for Financial Inclusion in Africa; Findings on Financial Inclusion in Nigeria; Snapshot of Microfinance in Latin America and the Caribbean

Banking on Change: Breaking the Barriers to Financial Inclusion;” published by Plan UK, Barclays and Care International UK; January 2013; 28 pages; available at: http://www.careinternational.org.uk/research-centre/microfinance/251-banking-on-change-breaking-barriers-to-financial-inclusion Continue reading

MICROCAPITAL BRIEF: International Finance Corporation Loans $29m to Center-Invest Bank to Support Small Businesses in Southern Russia

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan RUB 900 million (USD 29 million) to Center-Invest Bank, a Russian private bank, to increase lending to small and medium-sized enterprises (SMEs) in southern Russia. Continue reading

MICROCAPITAL BRIEF: Governor Yuba Raj Khatiwada of Nepal Rastra Bank Cites Multiple Lending and Low Outreach to Poor People by Microfinance Sector

Governor Yuba Raj Khatiwada of the Nepal Rastra Bank (NRB), the central banking authority of the country, reportedly expressed concern that “the growing tendency of lending money to people who have already taken a loan from other financial institutions might expose the microfinance sector to risk.” Continue reading

MICROCAPITAL BRIEF: High Court of Indian State of Andhra Pradesh Upholds Microfinance State Law, Rejecting Microlenders’ Petitions

The High Court of the Indian state of Andhra Pradesh reportedly ruled to uphold the Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Act, 2010, despite petitions brought by Indian microlender SKS Microfinance and other microfinance institutions (MFIs) seeking to have the law repealed. Continue reading

MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN), National Association of Microfinance Banks to Establish Technical Committee to Address Implication of Microfinance Policy, Including Recapitalization of MFBs

The Central Bank of Nigeria (CBN), the country’s central bank, and the National Association of Microfinance Banks (NAMB), a trade group of 820 microfinance banks (MFBs) in Nigeria, recently agreed to establish a technical committee to address the recapitalization and other steps that some MFBs must undertake to comply with the Revised Microfinance Policy Framework that took effect January 1. Continue reading

MICROCAPITAL BRIEF: New Urban Finance Facility for Africa Invests $100m in Housing Microfinance in Africa, Middle East

The New Urban Finance Facility for Africa (NUF), an impact investing facility that supports housing microfinance, is investing USD 100 million to fund microfinance housing schemes in Africa and the Middle East, with initial investments going to Ghana, Kenya, Tanzania, Uganda and the West Bank. Continue reading

MICROCAPITAL BRIEF: Microinsurance Network Expects Industry to Double, Reaching 1b Customers by 2020

The Microinsurance Network, a nonprofit membership organization in Luxembourg that aims to expand access to insurance services for low-income people around the world, has stated that it expects the global microinsurance industry to double its reach by 2020 to serve 1 billion customers. Continue reading

MICROCAPITAL BRIEF: Accion’s Center for Financial Inclusion Report on “Financial Inclusion 2020”: Microfinance Must Adjust to Aging World Population

The Center for Financial Inclusion, a branch of US-based nonprofit Accion that promotes universal access to financial services, has released a report that suggests potential implications for financial inclusion as birthrates decrease and life expectancies increase in the developing world. Continue reading

MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $2m to Microfinance Institution Palestine for Credit and Development

The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative of the German development bank Kreditanstalt fur Wiederaufbau Entwicklungsbank that invests in financial institutions in the Middle East and North Africa, recently agreed to disburse a senior loan facility of USD 2 million to Palestine for Credit and Development, a microfinance institution (MFI) based in Palestine’s West Bank that is known as Faten in Arabic. Continue reading