MICROCAPITAL BRIEF: Whole Planet Foundation Offering Interest-free Wholesale Funding for Microfinance in Latin America, Caribbean

As a part of its goal to reach 300,000 “microentrepreneurs, smallholder farmers, and [members of] vulnerable populations,” the US-based Whole Planet Foundation is accepting applications for loans and grants from “socially-focused microfinance institutions, social enterprises, nonprofit organizations and cooperatives” that provide microloans and related services.

SPECIAL REPORT: Green Action Group Celebrates 10th Anniversary at European Microfinance Week #EMW2023

e-MFP logoToday’s opening plenary of European Microfinance Week included a celebration of the accomplishments of the European Microfinance Platform’s (e-MFP’s) Green Inclusive & Climate Smart Finance Action Group. The group has grown to 150 people and still is accepting new members.

One of the main outputs of the group is the Green Index, which helps financial services providers (FSPs) evaluate their performance in terms of green inclusive finance. The Action Group introduced the index in 2014 and most recently updated it in 2022. One of the group’s most recent outputs is the

MICROCAPITAL BRIEF: Opportunity International, UPS Foundation Announce “Unstoppable Women Initiative” to Expand Financial Services in Colombia, India, Indonesia, Nigeria

Two US-based NGOs, Opportunity International and the UPS Foundation, recently partnered to launch the Unstoppable Women Initiative to support female entrepreneurs in underserved communities in Colombia, India, Indonesia and Nigeria. The program includes training, business support and

MICROCAPITAL BRIEF: UNI2 Microcrédito of Colombia Raises $3m in Debt from Triodos Microfinance Fund, Triodos Fair Share Fund

Netherlands-based Triodos Investment Management recently disbursed a total of USD 3 million from its Triodos Microfinance Fund and Triodos Fair Share Fund to UNI2 Microcrédito, a Colombian microfinance institution (MFI), to support the growth of the MFI’s loan portfolio. Established in 2014, UNI2 provides microcredit for purposes such as

MICROCAPITAL BRIEF: Online Today in Spanish, November 22 in French – JuST Institute Announcing Mentoring Program for MFIs Embracing Biodiversity, Climate Adaptation

The France-based NGO Just Sustainability Transitions (JuST) Institute is launching a mentoring and training program for financial services providers (FSPs) looking to orient their work toward “climate adaptation and biodiversity conservation.” The program, which is for loan officers and their managers, takes place online over a period of four to six months. Participation can be part of an MFI becoming certified for

MICROCAPITAL BRIEF: DAI’s MicroVest Loans $4m to Bayport Colombia, Payroll Lender to Public Sector Workers

US-based MicroVest, a unit of Development Alternatives Incorporated (DAI), recently lent USD 4 million to Bayport Colombia, a financial services provider seeking to “expand credit accessibility and financial empowerment” among public sector employees. This transaction marks MicroVest’s third investment in Bayport since 2016.

Established in 2007, Bayport Colombia lends to employees

MICROCAPITAL BRIEF: Michael Apel Named CEO of DAI’s MicroVest Asset Management

The US-based impact investing firm MicroVest recently selected Michael Apel as its new CEO and Chief Investment Officer. In taking on these roles, Mr Apel will be in charge of the company’s daily operations, including entering into new markets to expand the company’s deployment of private capital to boost micro-, small and medium-sized enterprises (MSMEs). Mr Apel has 25 years of experience at IDB Invest,

MICROCAPITAL BRIEF: Banco de Credito del Peru (BCP) Launches iO Banking App with Support from i2C 

With the goal of encouraging digital banking and boosting financial inclusion, Banco de Credito del Peru (BCP) recently collaborated with US-based payment software company i2C Incorporated to launch the iO app, which is available on the App Store and Google Play. The app’s offerings include: (1) conventional and virtual credit cards branded by US-based Visa Incorporated;

MICROCAPITAL BRIEF: Impact Asset Management’s Dual Return Vision Microfinance Funds Issue Loans to MFIs in Ecuador, Georgia, Kyrgyzstan, Paraguay

Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, recently announced that it disbursed loans totaling USD 10 million during August through its Dual Return Funds to microfinance institutions (MFIs) in seven countries. Although the names of the MFIs and the amounts invested in each have not been disclosed, I-AM does report having invested via the funds in two MFIs for the first time, one each in

MICROFINANCE PAPER WRAP-UP: “Child Labor, Rainfall Shocks and Financial Inclusion: Evidence from Rural Households,” by Carolina Bernal and Razvan Vlaicu, Published by IDB

Ms Bernal and Dr Vlaicu combine rainfall data and household survey results to examine how rural Colombian families respond to in­come shocks produced by unexpected weather events. In particular, they investigate the “inter-temporal trade-off” that households face

SPECIAL REPORT: Fortune Credit of Kenya, Fundación Génesis Empresarial of Guatemala, Yikri of Burkina Faso Are Finalists for European Microfinance Award 2023 on Inclusive Finance for Food Security & Nutrition

e-MFP logoFrom the European Microfinance Platform (e-MFP): On September 19 and September 20, 2023, the Selection Committee for the European Microfinance Award (EMA) 2023 on “Inclusive Finance for Food Security & Nutrition” selected the three finalists that will go on to compete for the prize of EUR 100,000 (USD 105,000): Fortune Credit Limited from Kenya, Fundación Génesis Empresarial from Guatemala and Yikri from Burkina Faso.

The choice of topic for the EMA2023 comes at a

MICROCAPITAL BRIEF: IDB Invest, Sura Investments Channeling $25m in Loans to SMEs, Mid-market Firms in Colombia

Colombia’s Sura Investments recently raised COP 100 billion (USD 25 million) for its Sura Private Debt Fund from IDB Invest, a member of the Inter-American Development Bank (IDB) Group. The fund was launched in 2020 with an initial volume of COP 38 billion (USD 9.5 million). The goal is to provide local-currency funding on longer terms than are otherwise available to small and medium-sized enterprises (SMEs)

MICROFINANCE EVENT: Global Development Conference on Biodiversity and Sustainable Development; October 31 – November 1, 2023; Quito, Ecuador

Sessions at this event will cover topics such as aligning government policies with environmental science; supporting female entrepreneurs; how biodiversity impacts economies; and understanding the connections among climate change, poverty, and gender inequality.

MICROCAPITAL BRIEF: Okra Solar of Nigeria Raises Equity, Debt Totaling $12m to Expand Mesh Grids in Africa, Americas, Asia

Nigeria-based Okra Solar, whose products serve 14,000 people in Cambodia, Haiti, Nigeria, and the Philippines, recently raised USD 8 million in equity from five investors. The investment package is led by US-based At One Ventures and includes USD 1.5 million from

MICROCAPITAL BRIEF: Peruvian Fintech Lender Prestamype Concludes $5m Equity Funding Round Led by Acumen Subsidiary ALIVE Ventures, Oikocredit

The Peruvian lender Prestamype recently raised USD 5 million in equity in a pre-Series A funding round. The investment package was led by

MICROCAPITAL BRIEF: Maquita Cushunchic Borrowing $2m from DID Aequitas Fund for Microfinance, Small-enterprise Lending in Ecuador

Cooperativa de Ahorro y Crédito Maquita Cushunchic, a financial institution founded by women in Ecuador, recently accepted a loan of USD 2 million from Aequitas, a fund managed by a holding of Desjardins International Development (DID), which in turn is a member of the Canada-based cooperative Desjardins Group. Maquita Cushunchic, which mainly serves micro- and small enterprises, was founded in 1997 and since has grown to serve