The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle launched by German development bank KfW Entwicklungsbank, has informed MicroCapital that it recently disbursed an AMD 400 million (USD 974,000) loan to open joint stock corporation Araratbank of Armenia, a bank that primarily provides financial services to micro-, small and medium-sized enterprises (MSMEs) in the country.
Category: Deals
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC), US Agency for International Development (USAID) Commit $23m to Development Innovations Group (DIG) Housing Finance Facility in Haiti
The Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, recently signed an agreement to loan USD 17 million to the US-based for-profit organization Development Innovations Group (DIG) to establish a housing finance facility in Haiti.
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: Grameen Crédit Agricole Microfinance Foundation (GCAMF) to Loan $599k to Oxus Tajikistan
The Grameen Crédit Agricole Microfinance Foundation (GCAMF), an organization that offers financing products to microfinance institutions (MFIs) and social business projects in Africa and Eurasia, recently informed MicroCapital that it has approved a three-year, local-currency loan equivalent to USD 599,000 to the MFI Oxus Tajikistan.
MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $8.5m From Dual Return Funds to Microfinance Institutions (MFIs) in Cambodia, Colombia, the Dominican Republic, Georgia, Indonesia, Russia
Absolute Portfolio Management (APM), an Austria-based microfinance investment and asset management company, has told MicroCapital that it issued the equivalent of USD 8.5 million in credit through funds it manages to microfinance institutions (MFIs) in Cambodia, Colombia, the Dominican Republic, Georgia, Indonesia and Russia during the month of February.
MICROCAPITAL BRIEF: Aspekt to Provide Microfinance Software to Serbian Microlender MicroFinS-DBS
Aspekt, a Macedonia-based information and communication technology company, has signed a deal to install its microfinance software for MicroFinS-DBS, a limited liability company based in Serbia that provides microloans.
MICROCAPITAL BRIEF: Minsk Transit Bank, Belgazprombank of Belarus Access $50m Facility for SME Energy Efficiency From European Bank for Reconstruction and Development (EBRD)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently launched a facility in Belarus to provide a total of up to USD 50 million in loans intended to fund investments in energy efficiency and renewable energy.
MICROCAPITAL BRIEF: Runa, Point Nine, Kizoo Place $2m in Equity in Microfinance Software Provider Mambu
Mambu, a provider of web-based microfinance institution management software, reportedly has received equity investments totaling USD 2 million from Russia-based Runa Capital; Germany-based Point Nine Capital; and its initial investor, Germany-based Kizoo Technology.
MICROCAPITAL BRIEF: Symbiotics Disburses $10m Syndicated Loan to Fundacion de la Mujer Bucaramanga of Colombia
Symbiotics Investment Group, a Swiss for-profit microfinance investment intermediary, recently disbursed a USD 10 million syndicated loan to Fundacion de la Mujer Bucaramanga, a microfinance institution (MFI) in Colombia.
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $2m to Microfinance Institution Palestine for Credit and Development
The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative of the German development bank Kreditanstalt fur Wiederaufbau Entwicklungsbank that invests in financial institutions in the Middle East and North Africa, recently agreed to disburse a senior loan facility of USD 2 million to Palestine for Credit and Development, a microfinance institution (MFI) based in Palestine’s West Bank that is known as Faten in Arabic.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Makes $643k Equity Buy into Kreditimi Rural I Kosoves of Kosovo
The European Fund for Southeast Europe (EFSE), a fund that seeks to foster economic development in southeastern Europe and parts of Central Asia, has made an equity investment of EUR 479,000 (USD 643,000) in Kreditimi Rural I Kosoves LLC (KRK), a microfinance institution based in Kosovo.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Donate $2m to Microinsurance Catastrophe Risk Organization (MiCRO) of Barbados, Insurer to Haiti’s Fonkoze
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced plans to donate USD 1.96 million to the Microinsurance Catastrophe Risk Organization (MiCRO), a Barbados-based company that was established in 2011.
MICROCAPITAL BRIEF: Austria’s Vision Microfinance Funds Loan $5m to MFIs in Colombia, Mexico, Paraguay
Austria-based asset management company Absolute Portfolio Management (APM) recently announced that it has disbursed the equivalent of USD 5 million to microfinance institutions (MFIs) in Latin America through its two Dual Return-Vision Microfinance funds in early 2013.
MICROCAPITAL BRIEF: Citigroup Loans $2m to Microfinance Institution (MFI) Tamweelcom of Jordan
US-based financial service provider Citigroup recently informed MicroCapital that it has issued a local-currency loan equivalent to USD 2 million to Tamweelcom, a Jordanian nonprofit microfinance institution (MFI), to support the growth of its loan portfolio.
MICROCAPITAL BRIEF: Sanad Fund for MSME to Loan $20m to Lebanon’s Bank Audi for Small and Medium-sized Enterprises in Middle East, North Africa
The Sanad Fund for MSME (micro-, small and medium-sized enterprise), an initiative of the German development bank Kreditanstalt für Wiederaufbau Entwicklungsbank that provides debt and equity to financial institutions in the Middle East and North Africa (MENA), announced that it has agreed to loan USD 20 million to Bank Audi, a private bank headquartered in Beirut, Lebanon, to support small and medium-sized enterprises (SMEs) in MENA.
MICROCAPITAL BRIEF: International Bank for Reconstruction and Development (IBRD) to Loan $20m for Russian Government’s Microfinance Development Program
The International Bank for Reconstruction and Development (IBRD), a member of the US-based World Bank Group, reportedly approved a loan of USD 20 million to be disbursed to establish a government-run Microfinance Development Program in Russia, for which the Russian government will budget USD 40 million.
MICROCAPITAL BRIEF: AlHuda Center for Islamic Banking and Economics, VisionFund AzerCredit to Conduct Market Research in Advance of Possible Launch of Islamic Microfinance in Azerbaijan
The nonprofit AlHuda Center for Islamic Banking and Economics (CIBE) has signed an agreement with VisionFund AzerCredit, a non-bank financial institution in Azerbaijan and subsidiary of US-based NGO VisionFund International, to conduct market research in urban areas of Azerbaijan regarding the demand for Islamic microfinance.
MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation (GCAMF) Loans $666k to FinDev of Azerbaijan, $320k to Phoenix+ of Tajikistan
Grameen Crédit Agricole Microfinance Foundation (GCAMF), an organization that offers financial services to microfinance institutions (MFIs) and social business projects in Africa and Eurasia, recently approved a three-year loan to Azerbaijani MFI FinDev in local currency equivalent to USD 666,000.