The Commonwealth Development Corporation (CDC), which is owned by the UK government; Creation Investments Capital Management (Creation Investments), a US-based alternative investment management company; Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), a German development finance institution offering long-term project and company financing; the International Finance Corporation (IFC), the private-investment arm of the World Bank Group; and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that they will invest a total of INR 325 cores (USD 51.4 million) to acquire 40 percent of the shares of Equitas Holdings, an Indian microfinance lender.
According to the Global Microscope on the Microfinance Business Environment 2014, a recent report by the UK-based Economist Intelligence Unit (EIU), Peru is the top country in enabling microfinance for the seventh consecutive year.
Credit Suisse, a Swiss global financial services company with operations in 50 countries, has agreed to donate an undisclosed sum to Opportunity International, a US-based nonprofit providing microfinance in 22 countries, to launch a three-year program entitled “Empowering Generational Change Through Education” that focuses on lending for education initiatives.
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 provide USD 18 million to La Positva Seguros Generales, a Peru-based insurance company, through a convertible subordinated loan to expand the availability of insurance to disadvantaged populations within Peru.
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently issued a senior loan of EUR 5 million (USD 6.2 million) to Alter Modus, a Montenegro-based microfinance institution (MFI), for lending to micro- and small enterprises (MSEs) within Montenegro.
Event Name: Fourth European Research Conference on Microfinance
Event Dates: June 1 – 3, 2015
Event Location: Unimail Campus, University of Geneva, Geneva, Switzerland
Millicom International Cellular, a Luxembourg-based telecommunications company that operates the brand Tigo, recently announced that its Tanzanian unit will distribute third quarter profits of TZS 3 billion (USD 1.8 million) to users and agents of Tigo Pesa, a mobile money service accessed by 3.6 million customers.
Event Name: Fifth Annual Latin American Impact Investment Forum (Foro Latinamericano de Inversion de Impacto)
Event Dates: February 24-26, 2015
Event Location: Hyatt Regency Merida, Merida, Mexico
The Department for International Development (DFID), a development agency of the British government, and the Bill and Melinda Gates Foundation, a US-based nonprofit that supports innovations in health and education, recently signed a memorandum of understanding (MoU) at the International Branchless Banking Conference 2014 in Pakistan.
Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, recently informed MicroCapital that it disbursed credits totaling approximately USD 11 million from its two Vision Microfinance funds, the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency, to unspecified microfinance institutions (MFIs) in Cambodia, Costa Rica, Ecuador, Kyrgyzstan, Mexico and India.
Event Name: Credit Risk and Problem Loan Management Workshop
Event Dates: January 29 – 30, 2015
Event Location: Taj Exotica, Cawaddo, Benaulim, Goa, India
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.
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.
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.
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.
Event Name: Mobile Money and Digital Payments Asia 2015
Event Dates: January 20 — January 22, 2015
Event Location: The Ritz-Carlton Jakarta, Jakarta, Indonesia
The government of Egypt reportedly has issued its first microfinance law, which regulates lending by non-bank entities in an effort to expand access to capital for microenterprises.
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.