Joliba Capital of Côte d’Ivoire recently raised EUR 55 million (USD 57.8 million) for its newly launched Joliba Capital Fund. The participants in this first close of the fund are the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO); the International Finance Corporation (IFC),
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MICROCAPITAL BRIEF: FMO Committing $30m to South Asia Growth Fund III to Support Equity Placements in Businesses Reducing Environmental Impacts, Mainly in India
US-based Global Environment Fund (GEF) Capital Partners recently secured USD 30 million for its South Asia Growth Fund (SAGF) III from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO). The funding is to boost the fund’s “equity and equity-linked” investments in middle-market institutions engaged in
MICROCAPITAL BRIEF: Hamkorbank of Uzbekistan Borrows $50m from FMO to Fund SMEs Owned by Women, Youth; Microenterprise; Climate Projects
The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently loaned USD 50 million to Uzbekistan-based Joint Stock Commercial Bank Hamkorbank. Hamkorbank plans to use 70 percent of the fresh funds to finance
MICROCAPITAL BRIEF: Satya of India Borrowing $35m from FMO, Finnfund for Microfinance for Rural Women, Youth – Including to Enable Green Transition
Satya MicroCapital, an India-based microfinance institution (MFI), recently borrowed the local-currency equivalent of USD 25 million from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) and USD 10 million from Finnfund, a development finance institution controlled by the government of Finland. The funding is intended to
MICROCAPITAL BRIEF: Araratbank of Armenia, FMO Ink $10m Risk-sharing Facility to Boost MSMEs
The Armenian bank Araratbank and Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently agreed to expand their risk-sharing facility by USD 10 million. FMO’s portion of the commitment is from its Nasira Fund, which guarantees
MICROCAPITAL BRIEF: Arohan of India Raises $11m in Equity from FMO to Expand Microfinance, Including via Technology
Arohan Financial Services, an India-based microfinance institution (MFI) offering credit and insurance services to groups, individuals and other MFIs, recently accepted an equity investment in local-currency equivalent to USD 11 million from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO). Arohan plans to use the fresh capital
MICROCAPITAL BRIEF: FMO Lends $10m to Latin American Agriculture Development Corporation (LAAD) to Boost Green Investment
The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently lent USD 10 million to the US-based Latin American Agriculture Development Corporation (LAAD), a funder of small and medium-sized enterprises (SMEs) that export agricultural products. The loan is intended to support
MICROCAPITAL BRIEF: Asociación de Cooperativas Argentinas (ACA) Borrows $80m from FMO, FinDev Canada, Rabobank to Boost Exports of Produce from 50,000 Farms in Argentina
Asociación de Cooperativas Argentinas (ACA), a network of 143 agricultural cooperatives in Argentina, recently borrowed USD 80 million from three institutions, led by the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO). FMO is lending ACA half of the total, and
MICROCAPITAL BRIEF: FMO, Proparco Lend $125m to NMB for MSME, Agriculture, Green Financing in Tanzania
The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently led a senior loan package of USD 125 million in favor of Tanzania’s National Microfinance Bank (NMB). NMB is a commercial bank offering
MICROCAPITAL BRIEF: Bamboo, CABEI, IFC Exit Holdings in Banco Popular as Incofin, Triple Jump Buy In; BIO, FMO Increase Equity Stakes to Boost Rural Microfinance in Honduras
Approximately 64 percent of the shares of the Honduran microfinance institution Banco Popular are changing hands as two multilateral institutions that first invested in Popular in 2007 are exiting their holdings. The sellers are the Central American Bank for Economic Integration; the World Bank Group’s International Finance Corporation; and Bamboo Capital, which has been an investor in the microbank since 2012.
Popular serves 60,000 clients and reports
MICROCAPITAL BRIEF: Sahyadri Farms of India Raises $39m in Equity from Incofin, FMO, Korys, Proparco to Boost Smallholder Farmers’ Exports of Fruits, Vegetables
The Belgian impact investor Incofin recently led an investment round in Sahyadri Farms, an Indian firm that works with smallholder farmers to grow and process food for export. The value of the equity round is INR 3.1 billion (USD 39 million), including participation from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO); Korys, the impact investing firm of Belgium’s Colruyt family; and the French government’s Société de Promotion et de Participation pour la Coopération Economique (Proparco).
Sahyadri Farms is a “farmer-led” firm that buys nine crops from 18,000 farmers who tend
MICROCAPITAL BRIEF: FMO Issuing Senior, Secured Loan of $10m in Local Currency to NeoGrowth for Microfinance Lending in India
The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently signed a senior, secured facility equivalent to USD 10 million in local currency to India’s NeoGrowth to expand its lending to microenterprises. Founded in 2013, NeoGrowth provides loans to micro-, small, and medium-sized enterprises (MSMEs) based on
MICROCAPITAL BRIEF: I&M Bank of Kenya Secures $15m Guarantee from FMO to Support MSME Growth
Investment and Mortgages (I&M) Bank, a subsidiary of Kenya-based I&M Group, recently signed an agreement with Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, whereby FMO will deploy a guarantee from its Nasira risk sharing facility to encourage USD 15 million in lending by I&M Bank to
MICROCAPITAL BRIEF: BIC-BRED, FMO Commit $30m in Working Capital for Sucafina to Expand Coffee Purchases from Smallholder Farmers in Africa, Colombia
Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently agreed to fund half of a USD 30 million facility provided by the Swiss bank Banque Internationale de Commerce-Banque Régionale d’Escompte et de Dépôt (BIC-BRED) to Sucafina, a Switzerland-based coffee trader. The deal is meant to support Sucafina’s origination activities in East Africa and Colombia and in this way
MICROCAPITAL BRIEF: Equity Group Nets Over $165m from IFC, BII, FMO, ResponsAbility, Symbiotics for Climate Projects, Financial Inclusion for MSMEs in Africa
Partially through its Financial Institutions Growth Fund, the International Finance Corporation (IFC), a member of the World Bank Group, is paying an undisclosed sum to acquire a 6.7-percent stake in Equity Group Holdings, which has banking operations in Democratic Republic of Congo, Kenya, Rwanda, South Sudan, Tanzania and Uganda. IFC and the UK government’s British International Investment (BII) also are each lending the group’s Equity Bank Kenya
MICROCAPITAL BRIEF: FMO Lends $20m to Sathapana Bank of Cambodia to Speed Recovery from, Adjustment to COVID-19
The Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO) recently lent USD 20 million to Sathapana Bank Plc, a former NGO in Cambodia that transformed first into a microfinance institution and then a commercial bank. The purpose of the loan is to
MICROCAPITAL BRIEF: Bix, FMO Lending $10m to C-Quest Capital to Expand Usage of Clean Cookstoves in Sub-Saharan Africa
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, is lending USD 6.4 million to C-Quest Capital, a US-based investor in projects that reduce the environmental impacts of energy production and usage in low- and middle-income countries. At the same time, Bix Capital, a Dutch provider of debt financing to small and medium-sized enterprises (SMEs) to boost
MICROCAPITAL BRIEF: FMO Lends $5.7m to Fin’Elle of Groupe Cofina to Support Women-led MSMEs in Agriculture Sector of Côte d’Ivoire
La Finance pour Elle (Fin’Elle), a unit of the Côte d’Ivoire-based Groupe Cofina, recently borrowed EUR 5 million (USD 5.7 million) from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership. Fin’Elle Board President Marema Bao commented that the partnership will