Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it has disbursed a local-currency loan equivalent to USD 15 million in favor of Mitra Bisnis Keluarga (MBK) Ventura, a microlender in Indonesia, on behalf Invest in Visions (IIV). Established in 2006, MBK Ventura seeks to raise the living standards of low-income women in rural parts of the island of Java by providing access to group microloans for use as
Search Results for: mbk
MICROCAPITAL BRIEF: MBK Borrowing $15m from FMO to Grow Group Microfinance Loan Portfolio in Indonesia
Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution providing group loans to women in Indonesia, recently borrowed USD 15 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Netherlands-based development finance institution. This is the third loan FMO has provided to MBK
MICROCAPITAL BRIEF: Symbiotics Issues Bonds Supporting SME, Rural Finance: $12m for Costa Rica’s Banco Improsa, $10m for Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, $6m for Armenia’s Armeconombank
Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds
MICROCAPITAL BRIEF: Standard Chartered Bank of India Loans $5m to Indonesian Microfinance Institution (MFI) Mitra Bisnis Keluarga (MBK) Ventura
The Indian unit of UK-based commercial financial institution Standard Chartered Bank (SCB) recently notified MicroCapital that it has disbursed a loan of IDR 60 billion (USD 5 million) to Mitra Bisnis Keluarga (MBK) Ventura, a non-banking microfinance institution (MFI) founded in Indonesia in 2003. Additional information regarding the terms of the loan is not available.
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $3m to Indonesia’s Mitra Bisnis Keluarga Ventura (MBK), $1m to Azerbaijan’s Finance for Development (FinDev)
The Luxembourg-based Grameen Credit Agricole Microfinance Foundation (GCAMF), which provides financial services to “social businesses,” recently informed MicroCapital that it has provided a three-year local-currency loan equivalent in value to EUR 2.1 million (USD 2.9 million) to Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) located in Indonesia.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Makes $3m Equity Investment in Bina Usaha Keluarga (BUK) of Indonesia, Seeking to Triple Female Clients of Microfinance Institution Mitra Bisnis Keluarga Ventura (MBK)
Bina Usaha Keluarga (BUK), the Indonesia-based controlling shareholder of Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) in the same country, recently received an equity infusion of IDR 34.3 billion (USD 3 million) from the International Finance Corporation (IFC), a US-based international financial institution and a member of the US-based World Bank Group, to triple the number of female clients of MBK.
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $1.3m to Microfinance Institution Mitra Bisnis Keluarga (MBK) Ventura of Indonesia
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization that provides financial services to microfinance institutions (MFIs) and social businesses, recently reported to MicroCapital that it has disbursed a local-currency loan equivalent to USD 1.3 million to Mitra Bisnis Keluarga (MBK) Ventura, an Indonesian MFI that provides capital to low-income women on the island of Java. The terms of the loan have not been released.
MICROCAPITAL BRIEF: ResponsAbility Invests $100k in Bank Eskhata of Tajikistan, $1.5m in Mitra Bisnis Keluarga (MBK) Ventura of Indonesia
ResponsAbility SICAV Mikrofinanz-Fonds (rAMF), a microfinance investment vehicle (MIV) managed by responsAbility Social Investments, a Swiss investment company, recently disbursed approximately USD 100,000 in debt to Bank Eskhata of Tajikistan.
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Guarantees Half of $2.7m From Standard Chartered Bank to Mitra Bisnis Keluarga (MBK) Ventura of Indonesia
The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued an IDR 12.5 billion (USD 1.4 million) guarantee to Mitra Bisnis Keluarga (MBK) Ventura, an Indonesian microfinance institution (MFI), via a stand-by letter of credit through Credit Agricole Corporate and Investment Banking (CA-CIB), the investment banking arm of Credit Agricole Group.
MICROCAPITAL BRIEF: responsAbility Loans $3m to Microfinance Institutions (MFIs) Hattha Kaksekar Limited (HKL) of Cambodia, Mitra Bisnis Keluarga (MBK) Ventura of Indonesia
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investment totaling the equivalent of USD 3 million in microfinance institutions Hattha Kaksekar Limited (HKL) of Cambodia and Mitra Bisnis Keluarga (MBK) Ventura of Indonesia [1].
MICROCAPITAL BRIEF: responsAbility Social Investments AG Makes Debt Investments Totaling $1.7m in MBK Ventura of Indonesia, COOPAC Norandino of Peru and COAC Mushuc Runa of Ecuador
responsAbility Social Investments AG (responsAbility), an investment manager founded in 2003 in Switzerland, reported to MicroCapital that it recently made four debt investments totaling USD 1.7 million in microfinance institutions (MFIs) MBK Ventura of Indonesia, COOPAC Norandino of Peru and COAC Mushuc Runa of Ecuador.
MICROCAPITAL BRIEF: Standard Chartered, an International Commercial Bank, Provides $1.6m Loan to Mitra Bisnis Keluarga Ventura (MBK), a Microfinance Institution (MFI) Located in Indonesia
Standard Chartered, an international commercial bank headquartered in London, has provided an IDR 15 billion loan, the equivalent of over USD 1.6 million, to Mitra Bisnis Keluarga Ventura (MBK), a microfinance institution (MFI) located in Indonesia.
MICROCAPITAL STORY: Indonesia’s MBK Ventura, Egypt’s Al Tadamun, and Grameen Bank’s Nurjahan Begum Recognized at Grameen Foundation 2008 Awards
The achievements of the Grameen Bank‘s Nurjahan Begum, Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, and Egypt’s Al Tadamun were recognized on November 12, 2008 at the Grameen Foundation’s 2008 Awards in Washington D.C. The awards were held in conjunction with its annual Knowledge Sharing Roundtable discussion, which this year discussed the implications of the global financial crisis on microfinance. Nurjahan Begum received the Susan M. Davis Lifetime Achievement Award for her work in microfinance for over 30 years, including her efforts to organize women in Bangladesh’s poorest villages and leading the fight for the rights of disadvantaged women. MBK Ventura of Indonesia received the Excellence in Microfinance Award for its leadership its efforts to ensure that Indonesia’s poorest citizens receive financial services, and Al Tadamun of Egypt was awarded the Pioneer in Microfinance Award in recognition of its program to provide financial services to Cairo’s poorest women.
Unitus Arranges Loan for MBK Ventura, an Indonesian Microfinance Institution, with The Dignity Fund and MicroCredit Enterprises
Unitus, a non-profit consultancy and venture capital firm, has recently announced a USD 1.2mm equivalent loan it has arranged for MBK Ventura, an Indonesian microfinance institution (MFI), 3 months after the organisation became a Unitus partner. The loan, structured in Indonesian rupiah, is made up of two USD 600,000 contributions from The Dignity Fund, LP, a microfinance fund based in California, and MicroCredit Enterprises, a non-profit organisation also based in California. Unitus have said that the loan is being provided at “an affordable interest rate” although avoided giving the exact rate.
US-Based Unitus Partners with Indonesian MBK Ventura to Expand Access to Microfinance
According to a Press Release, Unitus, a US nonprofit organization supporting microfinance internationally, reached a partnership agreement with MBK Ventura, the Indonesian microfinance institution formerly known as Ganesha. Unitus will provide financial support and consulting services to help MBK Ventura expand its client base to 240,000 borrowers. As of September of 2006, MBK has 25,623 active borrowers. Unitus will provide MBK Ventura with a USD 170,000 grant to support capacity-building projects such as technological improvements and staff training. Unitus will also take a seat on MBK Ventura’s Board.
MICROCAPITAL BRIEF: Agents for Impact Disburses $8m from Invest in Visions (IIV) to Microfinance Institutions Digamber of India, Imon of Tajikistan
Agents for Impact (AFI), a Germany-based investing company, recently informed MicroCapital that it has disbursed a loan of EUR 5 million (USD 5.5 million) to Digamber Capfin Limited, a microfinance institution (MFI) serving rural women in India, on behalf of Invest in Visions (IIV). AFI also
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Disburses $10m to Microfinance Institutions for On-lending in Indonesia, Myanmar
The Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently announced it has disbursed loans in local currency to three microfinance institutions (MFIs) active in Indonesia and Myanmar. GCA Foundation loaned the
MICROCAPITAL BRIEF: Myanmar Finance International Borrows $2m from Maybank, Symbiotics for Microfinance
Myanmar Finance International Limited (MFIL), a microfinance institution owned by Myanmar Investments International Limited (MIIL), Myanmar Finance Company Limited (MFCL) and the Norwegian Investment Fund for Developing Countries (Norfund), recently announced that it has secured a local-currency loan facility worth USD 1 million from Switzerland-based Symbiotics.