Event Name: Fifth Annual Microcredit Conference 2012
Event Date: October 13, 2012
Category: Key Players
MICROCAPITAL BRIEF: 8th Annual Clinton Global Initiative: Commitments to Financial Access, Global Citizen Awards Presented
The eighth annual Clinton Global Initiative (CGI), which concluded on Wednesday, September 26, focused on the theme “Designing for Impact,” which was intended to promote the use of creativity and innovation to drive change, particularly through social investment and the empowerment of women. Approximately 150 new commitments to various projects were announced, as were progress reports for commitments made in previous years. The new commitments include:
MICROCAPITAL BRIEF: Absolute Portfolio Management Dual Return Fund Loans $8m to Microfinance Institutions in Azerbaijan, Cambodia, Ecuador, Indonesia, Kazakhstan, Tajikistan
Absolute Portfolio Management GmbH (APM), an Austrian investment company that specializes in microfinance, recently disbursed loans to unspecified microfinance institutions (MFIs) in Asia, Eastern Europe and South America.
MICROCAPITAL BRIEF: Multilateral Investment Fund, Global Partnerships to Establish $1m Health Project in Ecuador, Haiti, Honduras, Nicaragua
The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, has agreed to partner with Global Partnerships, a US-based nonprofit, to support microfinance institutions (MFIs) and cooperatives in offering health services and health education to low-income households in Ecuador, Haiti, Honduras and Nicaragua.
MICROCAPITAL BRIEF: MiCRO, Fonkoze of Haiti to Make Insurance Payout to Women Microentrepreneurs in Wake of Tropical Storm Isaac
Microinsurance Catastrophe Risk Organisation (MiCRO), a reinsurance company based in Barbados, is due to make a payout of an undetermined amount to Fonkoze, a Haitian microfinance institution, to help female microentrepreneurs recover from Tropical Storm Isaac, which struck the country in August.
MICROFINANCE EVENT: The African Microfinance Transparency to Host 5th Annual Investor’s Fair, Tunisia, October 11-12, 2012
Event name: Fifth Annual Investor’s Fair
Event date: October 11-12, 2012
MICROCAPITAL BRIEF: Inter-American Development Bank Issues Partial Credit Guarantee of $2.4m to Microfin of Uruguay
The Inter-American Development Bank (IDB), a US-based finance institution that provides funding to support small and medium-sized enterprises (SMEs) and other sectors, recently issued a partial credit guarantee of UYU 51.4 million (USD 2.41 million) to Microfin, a microfinance institution (MFI) that provides support to SMEs in Uruguay.
MICROFINANCE EVENT: European Microfinance Platform’s Microfinance Week, Luxembourg, November 14-16, 2012, Onsite Reporting to be Provided by MicroCapital
Event Name: European Microfinance Week 2012
Event Date: November 14-16, 2012
MICROCAPITAL BRIEF: Developpement international Desjardins, Desjardins Fund for Inclusive Finance Loan $1.5m to Fundacion para el Desarollo Integral Espoir of Ecuador
Fundacion para el Desarollo Integral Espoir, a nongovernmental organization (NGO) offering economic and social development services to poor female entrepreneurs in Ecuador, recently borrowed USD 1.5 million jointly from Developpement international Desjardins (DID) and Desjardins Fund for Inclusive Finance, two members of Desjardins Group, a cooperative financial institution based in Canada.
MICROCAPITAL MONITOR: September Issue of Microfinance Newspaper Published
Do you know that MicroCapital publishes a monthly newspaper on microfinance? The September MicroCapital Monitor has a dozen pages of news, events and research summaries as well as a report on microfinance networks from development finance expert Barbara Magnoni of EA Consultants. There is no fee to receive the free, abbreviated edition of the Monitor, and we would love to send you a complimentary sample of the paid edition. Just drop us an email or call us at +1 617 648 0043.
MICROFINANCE EVENT: Women’s World Banking to Host 10th Annual Capital Markets Conference, New York City, October 23-24, 2012
Event Name: 10th Annual WWB Capital Markets Conference 2012
Event Date: October 23-24, 2012
MICROCAPITAL BRIEF: Credins Leasing of Albania Borrows €1.5m ($1.97m) from European Bank of Reconstruction and Development
Credins Leasing, a holding of Credins Bank of Albania that provides funding to individuals for vehicles and equipment, recently borrowed EUR 1.5 million (USD 1.97 million) from the European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution that provides funding to support micro- and small businesses in Eastern Europe, Central Asia and the Southern and Eastern Mediterranean region.
MICROCAPITAL BRIEF: EBay, Grameen Foundations Partner to Launch Mobile Marketplace, Transaction Platform to Increase Financial Inclusion in Indonesia
The eBay Foundation, the charitable arm of US-based online marketplace eBay, and Grameen Foundation, a US-based nonprofit that aims to increase financial and technological opportunities for people in poor countries, have announced a partnership to design and launch two technology services intended to increase financial access in Indonesia.
MICROCAPITAL BRIEF: ResponsAbility Invests $5m in Chase Bank Kenya, $1.25m in KWFT of Kenya, $1.2m in FINCA Microfinance Holding of USA
ResponsAbility Global Microfinance Fund (rAGMF), a microfinance investment vehicle (MIV) managed by responsAbility Social Investments of Switzerland, recently loaned USD 5 million to Chase Bank of Kenya.
MICROCAPITAL BRIEF: Incofin Funds Take Stakes in EDPYME Solidaridad of Peru, FIDES Bank of Namibia, ACEP-Burkina of Burkina Faso
The Rural Impulse Fund II (RIF II), a microfinance investment vehicle (MIV) managed by Incofin Investment Management (IM) of Belgium, has acquired an 8.2-percent equity stake in Peru’s Empresa de Desarrollo de la Pequeña y Micro Empresa (EDPYME) Solidaridad, a non-bank financial institution that is held by the nonprofit organization Caritas del Peru.
MICROCAPITAL BRIEF: ProCredit Ghana Sounds Alarm on Multiple Lending, Calls for Tighter Entry Requirements for Microfinance Institutions (MFIs)
Mrs Sarah Tsien Zetterli, Managing Director of ProCredit Savings and Loan Company of Ghana, reportedly stated recently that the microfinance market in Ghana has become overcrowded and that tighter entry requirements for microfinance institutions (MFIs) must be established by the Bank of Ghana.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Backs Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI) of India
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the government-owned Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI) of India, are developing a database of collateral used to secure loans.
MICROCAPITAL BRIEF: Citi Foundation Grants $180k to Parinaam Foundation of India to Provide Financial Literacy Training to Clients of Microfinance Institution Ujjivan
Citi Foundation, the charitable arm of the US-based financial provider Citigroup, reportedly has given a grant of INR 10 million (USD 180,000) to Parinaam Foundation, an Indian nonprofit organization, to deliver Parinaam’s Diksha Financial Literacy Program to approximately 31,000 microfinance clients.