The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in the United Kingdom, recently announced that it will provide a local-currency credit line equivalent to approximately USD 60 million for micro-, small and medium-sized enterprises (MSMEs) in Kazakhstan.
Category: Eastern Europe and Central Asia
MICROFINANCE EVENT: 13th Annual Global Microfinance Forum; March 16 – 17, 2017; Prague, Czech Republic
Event Name: 13th Annual Global Microfinance Forum
Event Date: March 16 – 17, 2017
Event Location: Grandior Prague Hotel, Prague, Czech Republic
Summary of Event: Participants at this event will discuss recent changes in the microfinance industry and predictions for its future. Speakers will address topics
MICROCAPITAL BRIEF: EFSE Loans $16m to Halkbank for Housing, Microenterprise, Small-business Lending in Macedonia
The European Fund for Southeast Europe, a microfinance investment vehicle that was launched by Germany’s KfW Development Bank, announced today that it has issued senior loans totaling EUR 15 million (USD 16 million) to Halkbank AD Skopje, which describes itself as Macedonia’s “first downscaling bank,
MICROCAPITAL BRIEF: MSME Lender FondiBesa Buys VisionFund Albania
The government of Albania recently announced that fondiBesa, a Tirana-based lender to micro-, small and medium-sized enterprises, has agreed to acquire the local arm of US-based nonprofit VisionFund for
MICROCAPITAL BRIEF: ACBA-Credit Agricole Bank, Armeconombank (AEB) Borrow $8.7m via Symbiotics’ Bond Platform to Benefit SMEs in Armenia
Switzerland-based Symbiotics SA, which specializes in micro-, small and medium-sized enterprise investment, recently issued bonds for two Armenian banks: USD 5 million for ACBA-Credit Agricole Bank and USD 3.7 million for Armeconombank (AEB). The latter was the second of two tranches this year totaling USD 10 million for AEB. All of these transactions were intermediated through
MICROCAPITAL BRIEF: Islamic Development Bank’s ICD, Dragon Capital to Develop Sharia-compliant Investment “Silk-way Growth Fund” for SMEs in Kazakhstan
The Islamic Corporation for the Development of the Private Sector (ICD), a development finance institution of the Saudi Arabia-based Islamic Development Bank (IDB), and Dragon Capital Partners, the venture capital and private equity arm of Ukraine-based Dragon Capital Group, recently announced the intention to develop the Silk-way Growth Fund, a Sharia-compliant investment fund benefitting “high growth” small and medium-sized enterprises (SMEs) involved in manufacturing in Kazakhstan.
MICROCAPITAL BRIEF: 16 Additional Institutions Commit to World Bank’s Goal of Achieving Universal Financial Access by 2020
The US-based multilateral World Bank Group (WBG) recently announced that 16 additional financial institutions have committed to partner to work toward “universal financial access” (UFA) by 2020, bringing the size of the group to 30 organizations. The new partners, which have committed to helping a total of 168 million people open new transaction accounts by 2020, are:
(1) the Aga Khan Agency for Microfinance, which operates in Africa, Asia and the Middle East;
(2) Ant Financial (Ali Baba Group) of China;
MICROFINANCE PUBLICATION ROUND-UP: How the Private Sector Can Boost Economic Growth in Sub-Saharan Africa; the Role of Impact Investing in Achieving SDGs in Africa; Documenting Reforms to “Doing Business”
Entreprenante Afrique; by Jean-Michel Severino and Jérémy Hajdenberg; published in French by Odile Jacob; September 2016; 288 pages; available for purchase at: https://play.google.com/store/books/details?id=_vslDQAAQBAJ&rdid=book-_vslDQAAQBAJ&rdot=1&source=gbs_vpt_buy&pcampaignid=books_booksearch_atb
Jean-Michel Severino and Jérémy Hajdenberg argue that the 5-percent average annual growth rate Sub-Saharan Africa has experienced since 2000 is being driven significantly by the region’s small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: EFSE, Netherlands’ Ministry of Foreign Affairs, Rabo International Advisory Services Facilitate Capacity Building Plan for FED Invest to Support Farmers, SMEs in Rural Albania
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund focused on 16 Central Asian and Southeast European countries, in partnership with the Netherlands’ Ministry of Foreign Affairs and Rabo International Advisory Services (RIAS), a subsidiary of Netherlands-based Rabobank Group, recently announced that the EFSE Development Facility will “cover part of the costs of a multi-year capacity building plan” aimed at expanding Albania-based FED Invest’s ability to provide financial services to farmers and small and medium-sized enterprises (SMEs) in rural areas.
MICROCAPITAL BRIEF: EBRD Provides Local-currency Credit Line Worth $7m for MSMEs in Kyrgyzstan Through Kyrgyz Investment and Credit Bank
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently announced that it will provide a local-currency credit line equivalent to approximately USD 7 million for micro-, small and medium-sized enterprises (MSMEs) in Kyrgyzstan.
MICROCAPITAL BRIEF: EBRD, European Union Launch Agribusiness Program in Tajikistan with $2m in Local-currency for MFI Arvand
The European Union (EU) and the European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, recently launched the Enhanced Competitiveness of Tajik Agribusiness Programme (ECTAP), for which they are seeking to raise EUR 42 million (USD 46.5 million) to boost agricultural productivity in Tajikistan via local financial service providers.
MICROCAPITAL BRIEF: Green for Growth Fund Announces $1.1m Senior Loan to Kosovar Microfinance Institution AFK to Reduce Energy Consumption in Homes, Businesses
The Green for Growth Fund (GGF), a Luxembourg-based investment vehicle that supports energy-efficiency (EE) initiatives in Eurasia and North Africa, recently announced a senior loan in the amount of EUR 1 million (USD 1.1 million) for Agjencioni për Financim në Kosovë (AFK), a non-banking microfinance institution operating in Kosovo.
MICROCAPITAL BRIEF: EBRD, USAID to Cooperate on Boosting Private Sector Development in Regions Including Eurasia, Middle East, North Africa
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, England, and the United States Agency for International Development (USAID), a government agency that provides international economic and humanitarian assistance, recently signed a “Framework for Cooperation” detailing a plan to boost private sector development in regions in which both organizations operate.
MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in India, Kenya, Namibia, Nicaragua, Peru, Romania, Including $3m for Education Lending
Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in India, Kenya, Namibia, Nicaragua, Peru and Romania.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $4.5m to Microfinance Institution Alter Modus of Montenegro
The International Finance Corporation (IFC), the private-sector arm of the World Bank Group, recently announced it will loan the euro-equivalent of USD 4.5 million to
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Announces $1.7m Senior Loan to Kreditimi Rural I Kosoves (KRK) for Microfinance in Rural Kosovo
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investment fund focused on fostering economic growth in 16 Central Asian and Southeast European countries, recently issued a senior loan in the amount of EUR 1.5 million (USD 1.7 million) to Kreditimi Rural I Kosoves (KRK), a Kosovo-based microfinance institution (MFI) that specializes in “agri-lending” to micro- and small enterprises (MSEs).
MICROCAPITAL BRIEF: EFSE Loans $2.3m to Kosovo’s AFK for On-Lending to Rural Microfinance Clients
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle, recently announced a senior loan of EUR 2 million (USD 2.3 million) to Agjencioni për Financim në Kosovë (AFK), a non-banking microfinance institution operating in Kosovo.
MICROCAPITAL BRIEF: VisionFund Selects BankBI’s Cloud-Based Software to Manage Microfinance Institutions in 32 Countries
VisionFund International, the microfinance arm of US-based NGO World Vision, recently selected UK-based BankBI Limited’s business intelligence and analytics software to manage its operations in 32 countries.