Banque Nationale de Paris (BNP) Paribas Russia, the Russian arm of French financial services provider BNP Paribas, and the microfinance department of Russia’s Ministry of Finance have reportedly awarded a two-year, USD 2 million loan to FINCA Universal Credit Organization CJSC, a subsidiary of US-based nonprofit microfinance institution (MFI) FINCA International.
Category: Eastern Europe and Central Asia
MICROCAPITAL BRIEF: European Union (EU), European Bank for Reconstruction and Development (EBRD) Partner to Support Small and Medium-Sized Enterprises in Mongolia, Turkey
The European Union (EU) and the European Bank for Reconstruction and Development (EBRD), a London-based multilateral investor, recently partnered to launch a EUR 3.8 million (USD 4.7 million) project in Mongolia geared towards small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: Amid Concerns of a Bubble In Kyrgyzstan, 94 Microfinance Institutions Are Shut Down, 31% of Borrowers Owe Multiple Loans
According to a quote attributed to Fatima Eshimbekova of the World Bank Group’s International Finance Corporation (IFC), MFIs in Kyrgyzstan have doubled their aggregate loan portfolio since 2010.
MICROCAPITAL BRIEF: Union Banka to Lend $950k to Microcredit Foundation Prizma of Bosnia and Herzegovina
Union Banka, a financial institution in Bosnia and Herzegovina, recently approved a BAM 1.5 million (USD 958,000) loan exposure to the Microcredit Foundation Prizma, a microfinance institution (MFI) in the same country.
MICROCAPITAL BRIEF: European Fund for Southeast Europe, Azerbaijan Micro-Finance Association to Publish Financial Literacy Booklet
The European Fund for Southeast Europe (ESFE), a microfinance investment vehicle (MIV) based in Luxembourg, and Azerbaijan Micro-Finance Association (AMFA), an organization with 28 microfinance institution members, have agreed to work together to develop a financial education booklet to raise the financial literacy of microfinance customers in Azerbaijan.
MICROCAPITAL BRIEF: Austrian Development Bank Oesterreichische Entwicklungsbank AG (OeEB) to Invest $18.75m in European Fund for Southeast Europe (EFSE)
Oesterreichische Entwicklungsbank AG (OeEB), Austria’s official development bank, recently pledged an investment of EUR 15.0 million (USD 18.75 million) to the European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg.
MICROCAPITAL BRIEF: Fund for Financial Support of Agriculture (FFSA) Loans $4.5m to Cotton Farmers in Kazakhstan
The Joint Stock Company Fund for Financial Support of Agriculture (FFSA), a state-owned provider or retail and wholesale microfinance services in Kazakhstan, reportedly has extended a loan of USD 4.5 million to cotton farmers in the Maktaaral and Shardara districts of the country.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Launches $45m Credit Framework to Increase Household Energy Efficiency in Moldova
The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in England, recently launched a EUR 35 million (USD 44.7 million) program called the Moldovan Residential Energy Efficiency Financing Facility (MoREEFF) to assist Moldovan households in reducing household energy usage and costs.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Lends $23m to Inecobank of Armenia, Megabank of Ukraine, Partner MikroKreditna Fondacija Tuzla of Bosnia and Herzegovina
The European Fund for Southeast Europe (EFSE) has reported to MicroCapital that it has made of the following amounts in support of microfinance during April 2012: USD 10 million to Inecobank of Armenia, USD 7 million to Megabank of Ukraine and approximately USD 6.66 million to Partner MikroKreditna Fondacija Tuzla of Bosnia and Herzegovina.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Lends $16m to Agricover Credit to Increase Funds for Farmers in Romania
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has provided a loan of EUR 12.5 million (USD 16.5 million) to agriculture-based financial institution Agricover Credit IFN to increase lending to farmers in Romania and promote modernization in the industry.
MICROCAPITAL BRIEF: AccessBank of Azerbaijan Implements Loan Repayment by Telephone, Debit Card
Microfinance institution (MFI) AccessBank of Azerbaijan, an affiliate of Germany’s Access Microfinance Holding AG (AccessHolding), recently announced the implementation of a new service allowing customers to make loan payments by telephone.
MICROCAPITAL BRIEF: DIMOCO Expands Corporate Mobile Payment Services to Albania, Montenegro, Bosnia-Herzegovina and Kosovo
DIMOCO (Direct Mobile Communications), an Austria-based mobile technology company, recently announced that it has expanded its billing services to Albania, Montenegro, Bosnia-Herzegovina and Kosovo, bringing to 23 the number of countries in which it offers mobile billing services.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $15m to Microfinance Institution AccessBank of Azerbaijan for Micro-, Small and Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development, a financial institution headquartered in London, recently signed an agreement to loan USD 15 million to AccessBank, a microfinance institution in Azerbaijan.
MICROCAPITAL BRIEF: Constanta Bank of Georgia Grows Microfinance Assets by 77%, Plans to Open 15 Branches in 2012
During 2011, Constanta Bank, a provider of microfinance services to micro- and small businesses in Georgia, witnessed a 77-percent growth in assets, a 71-percent growth in its credit portfolio and an 89-percent growth in the amount of loans issued relative to the previous year [1].
MICROCAPITAL BRIEF: Nova Banka AD Loans $2m to Microcredit Foundation Prizma of Bosnia and Herzegovina for Microfinance Operations
Nova Banka AD, a private bank in Bosnia and Herzegovina, reportedly approved a loan of BAM 3 million (USD 2.02 million) to Microcredit Foundation Prizma, a microfinance institution (MFI) in Bosnia and Herzegovina.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $13m to Ohridska Banka of Macedonia to Increase Lending to Small and Medium-sized Enterprises
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has loaned EUR 10 million (USD 13.1 million) to Macedonia’s Ohridska Banka “to increase access to finance for small and medium enterprises and boost economic recovery in the country.”
MICROCAPITAL BRIEF: International Finance Corporation (IFC), BNP Paribas Partner on $100m Facility to Increase Agriculture Financing in Sub-Saharan Africa, Eastern Europe
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and BNP Paribas (Suisse) SA, the Swiss subsidiary of France-based financial services provider BNP Paribas recently teamed up to launch a USD 100 million, three-year risk-sharing facility to support the financing needs of agriculture firms in Sub-Saharan Africa and Eastern Europe.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $10m to NBD Bank of Russia to Support Small Businesses
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has provided a five-year loan of RUB 300 million (USD 10 million) to Russia-based NBD Bank to support small businesses in small company towns in central Russia.