Event Name: Impact Investing Conference
Event Dates: May 12, 2016
Event Location: Namur Premises, Luxembourg-Hamm
Event Name: Impact Investing Conference
Event Dates: May 12, 2016
Event Location: Namur Premises, Luxembourg-Hamm
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently extended a loan facility totalling EUR 15 million (approximately USD 17 million) to Finansbank A.S., a Turkish subsidiary of the National Bank of Greece Group, a financial conglomerate based in Athens.
Investisseurs & Partenaires (I&P), a France-based family of investment funds that supports “socially responsible” entrepreneurs in Sub-Saharan Africa, recently announced the inauguration of its third fund, Teranga Capital (TC).
Afluenta, an Argentina-based peer-to-peer (P2P) lending platform, recently announced it closed a series B funding round totaling USD 8 million from the International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, and Elevar Equity, a “development-focused” private equity fund based in India.
“Voice of the Client: An analysis of client satisfaction and consumer protection across four microfinance institutions in Peru,” by J. Foelster, A. Pierantozzi, M. Pistelli; published by the Microfinance Information Exchange (MIX) in collaboration with Hivos People Unlimited; February 2016; 31 pages; available at: http://www.themix.org/sites/default/files/Voice%20of%20the%20Client%20Peru_0.pdf
Stellar, a US-based nonprofit technology provider, and Oradian, a Croatia-based software developer serving financial organizations in West Africa, are setting up a “payment transfer network” to connect rural Nigerian microfinance institutions (MFIs).
The Luxembourg Fund Labeling Agency (LuxFLAG), a Luxembourg-based nonprofit organization that certifies the operations of investment vehicles that support microfinance and environmental initiatives, recently announced it granted its Microfinance Label for the first time. The fund is promoted by German bank Gemeinschaftsbank für Leihen und Schenken (GLS).
Bank Negara Indonesia (BNI), a state-owned bank in Indonesia, recently signed an agreement with Perbarindo, an Indonesian association of rural banks, to support the government-backed microloan program Kredit Usaha Rakyat (KUR) channeling “subsidized loans” to micro- small and medium-sized enterprises.
The Overseas Private Investment Corporation (OPIC), a development finance institution backed by the US government, recently committed to investing up to USD 200 million in equity in Leapfrog Investments, a for-profit private equity fund based in Mauritius.
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently served as lead arranger and facility agent to finalize a USD 153 million senior secured syndicated loan for Sri Lanka’s Commercial Leasing & Finance (CLC).
MicroEnsure, a UK-based, for-profit microinsurance company founded by US-based NGO Opportunity International, recently announced that AXA Group, a French insurance and asset management company, will pay an undisclosed sum to increase its equity stake in the organization to 46 percent from an unspecified level.
Event Name: 13th Annual EMN Conference “Who, What and For Whom? Shaping European Microfinance”
Event Dates: June 16-17, 2016
Event Location: Novotel Warszawa Centrum Hotel, Warsaw, Poland
Sa-Dhan, an India-based association of 214 microlenders and other financial institutions, and the Microfinance Institutions Network (MFIN), a trade association of 48 Indian microfinance lenders, recently launched a revised code of conduct.
Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, and the European Microfinance Network, a Belgian nongovernmental organization (NGO), recently announced the eighth annual edition of the Microfinance Good Practices Europe Award, a series that aims to increase awareness about microfinance as a tool for alleviating poverty and promote the sharing of good practice among microfinance organizations in Europe.
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will loan EUR 5 million (USD 5.4 million) to Opportunity Bank Serbia (OBS), a branch of US-based microfinance network Opportunity International, to improve access to finance for micro -and small enterprises (MSEs) and low-income households in rural areas of Serbia.
“Mapping Pathways out of Poverty: The State of the Microcredit Summit Campaign Report, 2015;” published by the Microcredit Summit Campaign; December 2015; available at: http://www.microfinancegateway.org/library/mapping-pathways-out-poverty-state-microcredit-summit-campaign-report-2015
The European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, and the Pilot Program for Climate Resilience (PPCR), an initiative of various international development institutions that offers donations and preferential-rate loans for projects in developing countries, jointly have provided a local-currency loan equivalent to USD 3 million to Eskhata Bank, a commercial bank in Tajikistan that focuses on microfinance.
The International Finance Corporation (IFC), a member of the US-based World Bank Group that aims to increase economic growth in developing countries, and the Ministry of Foreign Affairs of the Netherlands recently announced that the Dutch government has pledged USD 27 million to IFC’s “Global SME Finance Facility,”[1] a credit line that provides funding to small and medium-sized enterprises (SMEs).