MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD), European Union Launch $3m “Small Business Support” Facility to Bring Technical Assistance to Firms in Egypt

The UK-based European Bank for Reconstruction and Development (EBRD) and the European Union (EU) recently launched a Small Business Support (SBS) facility with EUR 2.4 million (USD 3 million) in financial support from the EU for approximately 50 projects in Egypt. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $80m to Turkey’s Yapi Kredi for SME Energy Efficiency Projects

The UK-based European Bank for Reconstruction and Development (EBRD) recently loaned USD 80 million to Yapi Kredi, a Turkish commercial bank, in an effort to promote energy efficiency and renewable energy investments for small and medium-sized enterprises in Turkey. Continue reading

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $65m to Türk Ekonomi Bankasi of Turkey for Rural Micro-, Small, Medium-Sized Enterprises

The UK-based European Bank for Reconstruction and Development (EBRD) recently loaned USD 65 million to Türk Ekonomi Bankasi (TEB), a Turkish commercial bank, to be on-lent to micro-, small and medium-sized enterprises (MSMEs) in an effort to boost agribusinesses in rural areas of Turkey [1]. Continue reading

MICROCAPITAL BRIEF: Fairtrade Access Fund Loans $1.8m to Coffee, Cacao, Sugar Cooperatives COAGRICSAL of Honduras, UCOSEMUN of Nicaragua, NORANDINO of Peru

The Fairtrade Access Fund (FAF), an affiliate of German NGO Fairtrade International that provides loans to farmers in developing countries, recently disbursed a total equivalent to USD 1.8 million to Cooperativa Agrícola Cafetalera San Antonio Limitada (COAGRISCAL) of Honduras, Unión de Cooperativas de Servicios Múltiples (UCOSEMUN) of Nicaragua and Cooperativas de Servicios Múltiples Norandino (NORANDINO) of Peru. Continue reading

MICROCAPITAL BRIEF: 2013 CGAP (Consultative Group to Assist the Poor) Microfinance Photo Contest Accepting Entries Through October 2

CGAP (Consultative Group to Assist the Poor), a US-based, nonprofit policy and research center that aims to facilitate the provision of financial access to poor people, has opened its annual photo contest and seeks entries of original images that capture the impact of microfinance on poor households. Participants may submit up to 20 images. Continue reading

MICROCAPITAL BRIEF: BRAC, LOLC Micro Investments Buy 90% of Shares of Sri Lanka’s Nanda Investments and Finance, Plan its Downscaling to Microfinance

BRAC, an NGO that was formally known as the Bangladesh Rehabilitation Assistance Committee and serves eleven countries as of 2013, has bought 56.6 percent of the shares of Nanda Investments and Finance Public Limited Company, a Sri Lankan finance company specializing in deposits, loans, leasing and installment-based purchases [1]. Continue reading

MICROCAPITAL BRIEF: Islamic Development Bank (ISDB), Government of Punjab Provide $195m for Microfinance Facility in Pakistan

The Islamic Development Bank (ISDB), a Saudi Arabia-based multilateral development financial institution, recently announced that it will disburse a loan of PKR 14.6 billion (USD 146 million) with a 0.5 percent interest rate per year to the Punjab provincial government of Pakistan for a microfinance facility that will provide interest-free loans to small enterprises in the province, which is home to approximately 90 million people. Continue reading

MICROCAPITAL BRIEF: Etisalat, National Bank of Egypt, MasterCard to Launch Mobile Money Service in Egypt

The Egyptian subsidiary of the Emirates Telecommunications Corporation (Etisalat), a United Arab Emirates-based telecommunications services provider, recently formed two partnerships with the National Bank of Egypt (NBE), a commercial bank wholly owned by the Egyptian government, and MasterCard, a US-based payment solutions company, to launch a mobile commerce service known as “Flous,” meaning “money” in Arabic. Continue reading

MICROCAPITAL BRIEF: Sudan’s Northern Darfur Ministry of Finance Seeking to Improve Women’s Access to Microfinance

According to a statement attributed to Abu Daoud Suleiman, the Minister of Finance, Economy, and Civil Service of the Sudanese state of North Darfur, his state reportedly will seek to increase rural women’s access to funds from microfinance institutions because “women demonstrate commitment to repaying installations on time.” Continue reading

MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $5.7m to Bank Andara to Support Microfinance Institutions (MFIs) in Indonesia

Standard Chartered Bank (SCB), a UK-based financial services company, recently announced that it will disburse a loan of IDR 57 billion (USD 5.74 million) to Bank Andara, an Indonesian commercial institution that provides wholesale services to microfinance institutions (MFIs) and savings services to individuals. Continue reading

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