by Matthew ONeill -

MICROCAPITAL BRIEF: Bank of the Philippine Islands (BPI) Targeting Microentrepreneurs via Microfinance Institution, BPI Direct BanKo

The Bank of the Philippine Islands (BPI), which is owned by the Philippines’ Ayala Corporation, recently created BPI Direct BanKo, a microfinance bank intended to cater to “self-employed micro-entrepreneurs.”

by Nicole Boyd -

MICROCAPITAL BRIEF: Flat Pyramid of India Supports VolunteeRate Offering Free Ratings, EachOneBankOne Encouraging Activism on Financial Inclusion

The Flat Pyramid, an Indian organization, has been launched with the goal of applying market-based solutions to socio-economic issues.

by Brendan Millan -

MICROCAPITAL BRIEF: International Finance Corporation (IFC), BPI Globe BanKO to Develop Sustainable Energy Project for Microfinance Institutions in the Philippines

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with mobile-oriented Philippine bank BPI Globe BanKO “to develop microfinance that would help smaller businesses afford clean energy and energy-saving systems.”

by Charlotte Newman -

MICROCAPITAL BRIEF: Bangko Sentral ng Pilipinas (BSP) Doubles Microfinance Loan Ceiling to USD 6,835, BPI Globe BanKO to Provide Micro-Agri Loans to Farmers in the Philippines

A new microfinance loan category called “microfinance plus” has been approved by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), raising the overall microloan ceiling from PHP 150,000 (USD 3,417) to PHP 300,000 (USD 6,835).

by Kristha Abores -

MICROCAPITAL BRIEF: Philippine BPI Globe BanKo Issues $45m in Wholesale Loans to Microfinance Institutions, Expands Agent Network to Boost Retail Business

BPI Globe BanKo, a mobile-based savings bank affiliated with the Bank of the Philippine Islands (BPI), reportedly has extended PHP 2 billion (USD 45.3 million) in loans to unspecified Philippine microfinance institutions.

by Nisha Koul -

MICROCAPITAL BRIEF: Mobile Microfinance Bank BPI Globe BanKO to Launch Microinsurance in the Philippines in Partnership with BPI-Philam Life Assurance Corporation, BPI/Mitsui Sumimoto Insurance Corporation

BPI Globe BanKO, the mobile microfinance affiliate of the Bank of Philippines Islands (BPI), reportedly announced that it is launching three microinsurance products in collaboration with two other affiliates of BPI, BPI-Philam Life Assurance Corporation (BPI-Philam) and BPI/Mitsui Sumimoto Insurance Corporation (BPI/MS) [1].

by Rohan Trivedi -

MICROCAPITAL BRIEF: Mercy Corps Announces Partnership With Philippine BPI Globe BanKO to Extend Mobile Banking to 1m Microfinance Clients

Mercy Corps, a US-based relief and development nonprofit, has announced plans to fund a USD 1 million partnership with BPI Globe BanKO, a savings bank in the Philippines, to expand the uptake of mobile banking services.

by Eric McKay -

MICROCAPITAL BRIEF: Bank of the Philippine Islands Globe BanKO to Provide Investment Services to Microfinance Institutions (MFIs)

Bank of the Philippine Islands (BPI) Globe BanKO recently announced plans to expand its operations to include providing client microfinance institutions (MFIs) with liquidity management services and helping MFIs improve their operations [1]. BPI Globe BanKO currently provides clients with wholesale funds and technology and has recently started a microfinance pilot program to introduce deposit-taking, microloan and microinsurance services to retail customers [2].

by Christopher Maggio -

MICROCAPITAL BRIEF: ‘Bank of the Philippines Islands Globe Savings Bank’ (BanKo) Begins Microfinance Pilot Testing Using Mobile Money Technology (MMT) with Intention of Becoming a Branchless Bank

Bank of the Philippines Islands Globe Savings Bank (BanKo), a thrift bank that is expected to become a branchless microfinance bank in the Philippines, has begun pilot testing retail microlending, deposit-taking, and microinsurance using mobile money technology (MMT) [1]. The bank is owned by Bank of the Philippines Islands (BPI), a private commercial bank in the Phillipines; Globe Telecommunications Inc., a telecommunications company based in the Philippines; and Ayala Corp., a holding company with a varied portfolio including BPI’s outstanding stock [1,2,3,4]. BanKo is expected to open its head office in January of 2010 and begin lending to borrowers from the BPI microfinance unit’s client base of 170,000 borrowers [1]. At this point, BanKo is also expected to offer wholesale microlending to clients such as microfinance institutions (MFIs) [1]. Additionally, BanKo will open “regional centers,” not to be confused with branches, in order to establish relationships with MFIs, rural banks, and non-bank financial institutions [1].

by Vaughn Rajah -

MICROCAPITAL BRIEF: Bank of Maldives Borrowing $40m from ADB, JICA, OeEB, for Blue Economy, SMEs, Tourism

The multilateral Asian Development Bank (ADB) recently announced a syndicated funding package of USD 41 million for the Bank of Maldives Plc (BML) to support tourism and other sectors. ADB syndicated the funding, which encompasses

by Renata Samadova -

MICROCAPITAL BRIEF: Bank of Africa, Sanad Fund Deploying $27m for SME Finance in Morocco

Bank of Africa, which is based in Morocco and serves 32 countries, recently agreed to borrow EUR 25 million (USD 27 million) from the Luxembourg-domiciled Sanad Fund for MSME to on-lend to small and medium-sized enterprises (SMEs) in Morocco. Sanad is supporting the loan with

by Adhya Singh -

MICROCAPITAL BRIEF: Bank of Georgia Borrowing $200m from ADB, JICA for MSMEs, Especially Those Owned by Women

The Bank of Georgia (BOG), a UK-based institution active in Georgia, recently obtained a loan of GEL 617 million (USD 200 million) to on-lend micro-, small, and medium-sized enterprises (MSMEs), especially those owned by women. Half of the loan is from the Asian Development Bank (ADB), a development finance institution active in Asia and the Pacific, and the other half is funded by

by Zach Deluca -

MICROFINANCE PAPER WRAP-UP: “The Power of Jan Dhan: Making Finance Work for Women in India,” Published by Women’s World Banking

This paper concerns a pilot savings program for women that was designed as an add-on to the Indian government’s Pradhan Mantri Jan Dhan Yojana (Jan Dhan) scheme, which allows any previously unbanked person to open a savings account at any bank in the country. Jan Dhan accounts have no minimum deposits or balances to maintain, and the customer earns interest on his or her savings. Jan Dhan was launched in 2014, and it has been credited in the rise in percentage of women with access to financial services from 26 percent in 2011 to 77 percent in 2017. One of the successes of Jan Dhan is its reach to illiterate customers due its minimal paperwork requirements.

The pilot program was to offer “Jan Dhan Plus” accounts in an effort to encourage more women to save. The new accounts offer users a credit facility of INR 10,000 (USD 134) if they

by Arin Atluri -

MICROCAPITAL BRIEF: Bank of Abyssinia to Loan $13m to 4 Microfinance Institutions in Ethiopia for Lending to MSMEs Based on Movable Collateral

Bank of Abyssinia (BOA), a financial services provider in Ethiopia, recently agreed to loan ETB 600 billion (USD 13 million) to four Ethiopian microfinance institutions (MFIs) to increase financial access for micro-, small and medium-sized enterprises (MSMEs) by harnessing moveable collateral such as

by the MicroCapital Team -

SPECIAL REPORT: Minimizing Setbacks for Women, Girls Under COVID-19; Taking Advantage of the Pandemic to Liberalize Regulation, Boost Access to Digital Financial Services

Mary European Microfinance PlatformEllen Iskenderian of the US-based NGO Women’s World Banking (WWB) spoke today, the closing day of European Microfinance Week, about the impact of the COVID-19 pandemic on women and girls. Of the challenges they face, she said “COVID didn’t create these gaps, but it shines a bright light on the fissures, and we don’t want to see these grow larger.” As an example, she cited the strides made in recent years in terms of enrolling girls in primary education. She called this the single most powerful tool for creating development impact. However, one of the first things she has seen families in developing countries doing in response to COVID-19 is taking their daughters out of school.

On the positive side, Ms Iskenderian noted “a silver lining, that