by Saulius Ramanauskas -

MICROCAPITAL BRIEF: Silatech, Gojo Partner to Provide Digital Finance to Youth-led Enterprises in Cambodia, India, Sri Lanka

The Qatar-based social enterprise Silatech recently launched a three-year partnership with the Japanese microfinance investor Gojo & Company with the aim of supporting 90,000 youth in Cambodia, India and Sri Lanka with digital financial services to facilitate the founding and expansion of micro-, small and medium-sized enterprises (MSMEs). Among the strategies of the partnership is

by Benjamin Greissman -

MICROCAPITAL BRIEF: LOLC Cambodia Borrows $7m from Nordic Microfinance Initiative to Expand Financial Access in Rural Cambodia 

The Norway-based Nordic Microfinance Initiative (NMI) recently announced a subordinated loan of USD 7 million to Lanka Orix Leasing Company (LOLC) Cambodia, a member of the Sri Lanka-based LOLC Group, to expand lending and leasing services for individuals with low incomes who live in rural areas. The deal follows

by Zach Deluca -

MICROCAPITAL BRIEF: Alliance Finance Raises $15m in Debt from FMO, Enabling Microfinance Fund (EMF) to Support Lending to MSMEs in Sri Lanka

Alliance Finance, which is based in Sri Lanka, recently received a loan package of USD 15 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, and the Liechtenstein-domiciled Enabling Microfinance Fund (EMF). FMO financed two thirds of the package, and EMF provided the remaining USD 5 million. The funding is earmarked for

by Arin Atluri -

MICROCAPITAL BRIEF: Commercial Bank of Ceylon (ComBank) Secures $50m Loan from CDC Group to Promote SME Lending, Climate Projects in Sri Lanka


The CDC Group, a UK-backed development finance institution formerly known as the Colonial Development Corporation, recently agreed to lend USD 50 million to the Commercial Bank of Ceylon (ComBank) to fund loans to small and medium-sized enterprises (SMEs) as well as climate projects that “support Sri Lanka’s commitment to the Paris Agreement.” Sri Lanka’s goals related to climate change include

by Sophie Fiala -

MICROCAPITAL BRIEF: Sri Lanka to Fight Overindebtedness Among Microfinance Borrowers with Subsidies, Infrastructure, Reimbursements to Lenders; Emphasizing Rural Women

The government of Sri Lanka is working to address overindebtedness in the country through the following strategies: (1) subsidized loans targeted at rural women in the Northern and North Central provinces; (2) the construction of rural infrastructure to improve the outreach of microfinance institutions (MFIs) in remote areas; and

by Kate Finster -

MICROCAPITAL BRIEF: Central Bank of Sri Lanka Plans Mergers of Weaker, Stronger NBFIs; Cutting Number in Half

The Central Bank of Sri Lanka (CBSL) reportedly is working on a plan to merge multiple “ailing” non-banking financial institutions (NBFIs) in the country with “financially stable” firms, given that “nearly half of the sector face[s] severe liquidity issues.” Central Bank Governor W D Lakshman reportedly stated,

by Jessica McLeod -

MICROCAPITAL BRIEF: Symbiotics Raises $7.8m for Pan Asia Bank of Sri Lanka in Sale of “Green Bonds” to Investors Including SEB

Symbiotics, a Switzerland-based manager of international investments in small business, recently issued a four-year loan of LKR 1.42 billion (USD 7.75 million) to Sri Lanka’s Pan Asia Banking Corporation for on-lending to projects with reduced effects on the environment in sectors such as energy and agriculture. Symbiotics raised the money through an issue of “green” bonds. Of the bond buyers,

by Anuhya Tadepalli -

MICROCAPITAL BRIEF: Berendina Micro Investments of Sri Lanka Receives $393k Guarantee from Grameen Credit Agricole Foundation for Microfinance Lending

Berendina Micro Investments Company (BMIC) of Sri Lanka has secured a loan guarantee of EUR 375,000 (USD 426,000) from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, allowing the microfinance institution to secure funding from an unidentified third party. BMIC will use the funding to boost its microlending in

by Jacob Ferguson -

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $1.6m to Hattha Kaksekar Limited of Cambodia, $1.2m to Sri Lanka’s VisionFund Lanka

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has issued the following two loans: (1) EUR 1.5 million (USD 1.6 million) to Hattha Kaksekar Limited (HKL), an MFI based in Cambodia that was founded in 1994 by Organisation Canadienne pour la Solidarite et le Developpement (OCSD) and Oxfam International; and (2) EUR 1.1 million (USD 1.2 million) to VisionFund Lanka, a unit of US-based VisionFund, which offers financial services to families living in poverty in the developing world through a network of MFIs in 36 countries.