Mark Coffey has been named the chief investment officer of Global Partnerships (GP), a Seattle-based non-profit that supports microfinance institutions (MFIs) in Latin America.
Category: Key Players
MICROCAPITAL BRIEF: LeapFrog Investments Poised to Invest $30m to $37m in Microinsurance Projects in India
In a recent interview with the Indian online news platform VCCircle, Mr Jim Roth, Principal at LeapFrog Investments, a private equity microinsurance fund, said that of the fund’s USD 110 million in capital, it would commit USD 30 to 37 million to microinsurance products in India.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $15m in Aavishkaar Goodwell Fund for Microfinance
Aavishkaar Goodwell India Microfinance Development Company Ltd, a microfinance focused private equity firm, has secured a USD 15 million commitment from the International Finance Corporation (IFC), the private investment arm of the World Bank, for its second fund.
MICROCAPITAL BRIEF: The European Fund for Southeast Europe (EFSE) Extends €6m Credit Line to Intesa Sanpaolo Banka in Bosnia and Herzegovina for Housing Microfinance
The European Fund for Southeast Europe (EFSE), a microfinance investment fund based in Luxembourg, recently announced plans to extend a EUR 6 million (USD 8.1 million) credit line to Intesa Sanpaolo Banka d.d. BiH, a commercial bank in Bosnia and Herzegovina that is majority-owned by Intesa Sanpaolo Group of Italy.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases April 2010 E-Newsletter
The nonprofit Microfinance Information Exchange (MIX) has released its April 2010 e-newsletter highlighting recent and upcoming MIX activities, publications and upcoming microfinance events.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) and CGAP (Consultative Group to Assist the Poor) Criticize Muhammad Yunus’ Method of Judging Microfinance Institutions’ (MFIs’) Interest Rates
Microfinance Information Exchange (MIX) Lead Researcher, Mr Adrian Gonzalez, has published a report on MIX titled, “Analyzing Microcredit Interest Rates: A Review of the Methodology Proposed by Mohammed Yunus.”
MICROCAPITAL BRIEF: Grameen Foundation to Upgrade Mifos, an Open Source Microfinance Institution (MFI) Management Software with Grants of $500,000 from Cisco Foundation and $1.23m from MasterCard Foundation
The Grameen Foundation, an independent non-profit organization, has announced that it will add functionality to Mifos, a microfinance institution (MFI) management software package that is open source, meaning that it is free software that can be changed by users.
MEET THE BOSS: Discussions on Impact Investing and the Sarona Frontier Market Fund I, LP: An Interview with Serge LeVert-Chiasson, Vice President of Sarona Asset Management
Sarona Asset Management is a boutique investment firm with the goal of achieving triple bottom line targets: profit for its investors, economic benefit for developing countries and reduced impact on or improvement in a focus on the environment. Its newest fund, the Sarona Frontier Markets Fund, is focused on harnessing the growth and vitality of micro-, small and medium-sized enterprises (MSMEs) in developing countries.
MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Announces Summer Fellowship Program for 2010
CGAP (Consultative Group to Assist the Poor), a research and policy center housed at the World Bank, is offering eight Summer Fellowship positions to entry-level professionals.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2009 Benchmarking Report on West Africa
The nonprofit Microfinance Information Exchange (MIX) has released the 2009 benchmarking report for the UEMOA (Union économique et monétaire ouest-africaine), the West African Economic and Monetary Union.
MICROCAPITAL BRIEF: Experts Discuss Importance of Savings at Women’s World Banking (WWB) Microfinance and Capital Markets Conference
At the Women’s World Banking (WWB) Microfinance and Capital Markets conference on March 23 and March 24, Ms Elizabeth Littlefield, the Chief Executive of CGAP (Consultative Group to Assist the Poor) who has been nominated to head the Overseas Private Investment Corporation (OPIC), declared “There’s a huge untapped pool of savings in poor households that’s desperate to be taken out from under the bed.”
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases 2009 Asia Microfinance Analysis and Benchmarking Report
The nonprofit Microfinance Information Exchange (MIX) has released the 2009 Asia Microfinance Analysis and Benchmarking Report.
MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution (MFI) in Azerbaijan, Increases its Share Capital from $27m to $52m
AccessBank, a microfinance institution (MFI) in Azerbaijan, has increased its share capital from AZN 21.8 million, the equivalent of over USD 27 million, to AZN 41.8 million, the equivalent of over USD 52 million. This increase was achieved by capitalizing retained earnings.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), a Microfinance Investment Fund Based in Luxembourg, Signs its Largest Loan Agreement to Date, a $33m Senior Loan to Banca Intesa, Commercial Bank in Serbia, to be On-lent to Micro- and Small Enterprises (MSEs)
The European Fund for Southeast Europe (EFSE), a microfinance investment fund based in Luxembourg, has signed its largest loan agreement to date, a EUR 25 million senior loan, the equivalent of over USD 33.5 million, to Banca Intesa, a commercial bank in Serbia, which will be on-lent to micro- and small enterprises (MSEs).
MEET THE BOSS: Nanno Kleiterp of the Netherlands Development Finance Company (FMO)
The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO uses loans, mezzanine financing and equity investments to invest in financial institutions and other companies in developing countries. With an investment portfolio of USD 6.5 billion, FMO is one of the world’s largest bilateral private sector development banks. FMO’s mission is to create flourishing enterprises that can serve as engines of sustainable growth in their countries.
MICROCAPITAL BRIEF: Agence Française de Développement (AFD) Grants €1m to Microfinance Institution MicroCred Nigeria
Agence Française de Développement (AFD), France’s public development-finance institution, has granted EUR 1 million (USD 1.3 million) to MicroCred Nigeria to help build capacity in Nigeria’s microfinance sector.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $4m Synthetic Loan to FINCA to Support Micro- and Small Enterprises in Armenia
The European Bank for Reconstruction and Development (EBRD), an international finance institution, has made a synthetic loan in Armenian drams (AMD) equivalent to USD 4 million to FINCA Universal Credit Organization Closed Joint Stock Company (FINCA Armenia), a non-bank credit organization serving micro- and small enterprises (MSEs).
MICROCAPITAL BRIEF: Sequoia Capital India, Sandstone Capital, Kismet Capital Advisors and SKS Trust for the Benefit of Women Entrepreneurs Replace SKS Microfinance Founder Mr Vikram Akula as Promoter of the Company
A group of four venture capital companies have replaced Mr Vikram Akula, founder of the Indian microfinance institution (MFI) SKS Microfinance, as promoter of the firm.