Oikocredit, a cooperative based in the Netherlands, recently sold its stake in Financiera Confianza, a Peruvian microfinance institution (MFI), to Fundacion BBVA MicroFinanzas, which was launched by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) in 1998. The size and price of the stake, which Oikocredit assembled in multiple purchases
Italy’s MicroFinanza Rating (MFR) issued two microfinance institutional ratings during September. Palestine’s Asala Company for Credit and Development was assigned a grade of BB+ with a “stable” outlook, and Inkunga Finance of Rwanda was assigned a grade of
C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance funds lent a total approximately equivalent to USD 31 million to unidentified microfinance institutions (MFIs) in five Asian countries, Bangladesh, Cambodia, India, Kyrgyzstan and Pakistan, as well as three Latin American countries, Ecuador, Mexico and
MicroCapital: How does micro-leasing compare with microlending?
Manuel Hörl: Microcredits do not fit the needs of every situation. Often, the borrower cannot meet the collateral or other requirements for receiving a loan. Micro-leasing can allow a farmer, for example, to pre-finance the purchase of a productive asset, such as a cow. The farmer receives basic training in handling the asset, and risk is mitigated by
C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance funds lent a total approximately equivalent to USD 10 million to unidentified microfinance institutions (MFIs) in Guatemala, India, Kazakhstan, Nicaragua and
An arm of Austrian fund manager C-Quadrat, C-Quadrat Asset Management, recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds lent a total approximately equivalent to USD 12.5 million to unidentified microfinance institutions (MFIs) in four Latin American countries – Bolivia, El Salvador, Guatemala and Peru – as well as
Fundación Paraguaya, a Paraguay-based non-governmental organization, recently introduced a credit product intended to facilitate “the purchase of environmentally friendly technology,” particularly induction stoves, which run on electricity rather than gas or charcoal. In a pilot program, 383 women who purchased induction stoves
The Calvert Social Investment Foundation, a US-based institution supporting the “social and environmental impact sectors,” recently invested USD 5 million in the Eco.Business Fund, a lender to financial institutions in Latin America that seek to mitigate climate change. The financing is in the form of subordinated notes, the first time the Eco.Business Fund has borrowed in this manner.
During July and August, Italy’s MicroFinanza Rating (MFR) issued five microfinance institutional ratings. Morocco’s Attadamoune Micro-Finance was assigned the grade B+ with a stable outlook. Ecuador’s Fundación Espoir and Albania’s FED Invest both earned grades of BB with stable outlooks. Two institutions earned grades of
Event Name: 13th International Microinsurance Conference: Inclusive Insurance for the Mass Market
Event Date: November 7 – November 9, 2017
Event Location: Swissotel; Lima, Peru
Cost: The maximum fee to attend the conference is USD 1,390, with a range of discounts available, including tiered reductions for those registering by September 1 and October 31. There is no fee for representatives of regulatory and supervisory authorities.
Summary of Event: This conference aims to engage stakeholders on “accelerating growth and economic viability in microinsurance.” It will feature roughly 80 speakers covering topics including: microinsurance across Latin America and the Caribbean; the role of microinsurance in economic development; digital technologies for microinsurance; and the relationships among data, analytics and the future of microinsurance.
Germany-based development bank Kreditanstalt für Wiederaufbau (KfW) recently notified MicroCapital that the Fairtrade Access Fund (FAF), which invests in initiatives supporting farmers in developing countries, has loaned USD 750,000 to Cooperativa DelosAndes, a Colombia-based coffee cooperative, to co-finance a wet mill.
C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance funds extended loans totaling USD 10 million during June.
Banco Popular de Ahorro (BPA), a government-owned bank in Cuba, recently began offering a mobile banking service called Banca Movil that operates through an app on mobile phones that use the Android operating system.
Access Financial Services Limited, a Jamaican provider of payday and business loans, recently bought Jamaican microfinance institution Micro Credit Limited (MCL) for JMD 80 million (USD 630,000).
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it has arranged a loan package of USD 81.2 million for Banco Industrial do Brasil (BIB).
During June, Italy’s MicroFinanza Rating (MFR) issued four microfinance institutional ratings. Ecuador’s Insotec earned a rating of BBB with a stable outlook.
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently announced it will extend a loan of USD 450 million to the government of Colombia with the goal of helping to “solidify macroeconomic stability, boost development, encourage public/private partnership financing, strengthen regulation of the financial system [and] promote financial inclusion.”
The Multilateral Investment Fund (MIF), a member of the IDB (Inter-American Development Bank) Group, recently announced it will invest USD 5 million in equity in a fund launched by Nxtp Labs, an Argentine supporter of technology start-ups in areas such as (fintech), education (edtech), and reducing negative environmental impacts (cleantech).