The Brazilian government recently announced a new credit line of BRL 30 billion (approximately USD 9.4 billion) for banks to fund the working capital, equipment and advisory needs of micro- and small enterprises (MSEs).
Category: Latin America & Caribbean
MICROCAPITAL BRIEF: Incofin Microfinance Funds Exit Equity Investments in Bolivia’s Banco FIE
Incofin Investment Management, a Belgium-based investment management firm focusing on microfinance institutions (MFIs) in developing countries, recently announced sales of some of its equity in Banco para el Fomento a las Iniciativas Económicas (Banco FIE), a Bolivian bank focusing on the financially excluded, to the bank’s incumbent shareholders.
MICROCAPITAL BRIEF: MIF, Swiss Government Partner to Launch Social Impact Bond Fund to Improve Urban Employment in Colombia, Repayment to Be Contingent on Successful Client Outcomes
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, is partnering with the Swiss State Secretariat of Economic Affairs (SECO) and the Colombian government’s Department for Social Prosperity (DPS) to launch a social impact bond fund aimed at increasing urban employment in Colombia.
MICROCAPITAL BRIEF: ResponsAbility to Loan Additional $3m to Bolivian Microfinance Institution Diaconia FRIF
ResponsAbility, a Switzerland-based asset management firm specializing in development investments, recently informed MicroCapital that it is lending an additional USD 3 million to Diaconia Fondo Rotativo de Inversion y Fomento (FRIF), a non-banking financial institution based in Bolivia.
MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru, the Philippines
Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru and the Philippines.
MICROCAPITAL BRIEF: Guatemala’s Fundación Génesis Empresarial, Pakistan’s Kashf Foundation, Opportunity Bank of Uganda Named as Finalists for Education Edition of $112k European Microfinance Award
The European Microfinance Platform (e-MFP), a network of European microfinance stakeholders working in developing countries, recently announced that three finalists for the 7th European Microfinance Award have been selected from 30 applicants: (1) Fundación Génesis Empresarial of Guatemala; (2) Kashf Foundation of Pakistan; and (3) Opportunity Bank of Uganda.
MICROCAPITAL BRIEF: Nicaragua’s Fabretto Acquires Grants Totaling $1.8m for Training Rural Youth from Japan Special Fund for Poverty Reduction, Multilateral Investment Fund
Fabretto, an educational NGO in Nicaragua, recently received grants from two entities managed by the US-based Inter-American Development Bank Group: (1) USD 1 million from the Japan Special Fund for Poverty Reduction (JPO), which is funded the government of Japan and; (2) USD 800,000 from the Multilateral Investment Fund (MIF), which assists organizations in Latin America and the Caribbean.
MICROCAPITAL BRIEF: Multilateral Investment Fund Approves $4m Equity Investment in Angel Ventures Pacific Alliance Fund for SMEs in Chile, Colombia, Mexico, Peru
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, recently announced an equity investment USD 4 million in the newly-established Angel Ventures Pacific Alliance Fund (AVPAF), a Mexico-based venture capital fund targeting “start-up” and “scale-up” businesses in Chile, Colombia, Mexico and Peru.
MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in India, Kenya, Namibia, Nicaragua, Peru, Romania, Including $3m for Education Lending
Austria-based C-Quadrat Asset Management recently issued loans worth the equivalent of USD 17 million to unspecified microfinance institutions (MFIs) in India, Kenya, Namibia, Nicaragua, Peru and Romania.
MICROCAPITAL BRIEF: Maj Invest Raising Additional $25m for Financial Inclusion Fund II for Microfinance in Bolivia, Colombia, Ecuador, Peru
Maj Invest Group, a Denmark-based asset management and private equity firm, recently announced plans to grow its Maj Invest Financial Inclusion Fund II by USD 25 million to invest in Bolivia, Colombia, Ecuador and Peru.
MICROFINANCE PUBLICATION ROUND-UP: Innovations in Building Financial Capability; BBVA Microfinance Foundation Social Performance Report; Growth, Evolving Trends in Financial Inclusion in India
“A Change in Behavior: Innovations in Financial Capability”; published by the Center for Financial Inclusion at Accion; April 2016; 47 pages; available at http://www.centerforfinancialinclusion.org/fi2020/roadmap-to-inclusion/innovations-in-financial-capability
This document describes research aimed at identifying effective interventions for building the financial capability of microfinance customers, specifically as administered by three groups: financial service providers, governments and social service providers.
MICROCAPITAL BRIEF: FMO, Bladex Co-Arrange $100m Loan for Banco Continental Paraguay, including $47m for On-Lending to Small, Medium-Sized Enterprises
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced that it has closed a USD 100 million syndicated A/B loan for Banco Continental SAECA, a commercial bank operating in Paraguay.
MICROCAPITAL BRIEF: VisionFund Selects BankBI’s Cloud-Based Software to Manage Microfinance Institutions in 32 Countries
VisionFund International, the microfinance arm of US-based NGO World Vision, recently selected UK-based BankBI Limited’s business intelligence and analytics software to manage its operations in 32 countries.
MICROCAPITAL BRIEF: IFC Issues Taino II Local-currency Bond, Raising $4m for Banco ADOPEM’s Microfinance Efforts in the Dominican Republic
The International Finance Corporation, the private-investment arm of the World Bank Group, recently issued its “Taino II” bond in the amount of DOP 180 million (USD 4 million), the proceeds of which will go to Banco de Ahorro y Crédito ADOPEM SA, a microfinance institution formerly known as Asociación Dominicana para el Desarrollo de la Mujer that is a member of the Spain-based Fundación BBVA Microfinanzas.
MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $34m to Microfinance Institutions (MFIs) in Latin America, South Asia
During July 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 34 million to unspecified microfinance institutions (MFIs) in Costa Rica, Ecuador, India, Nicaragua, Paraguay and Sri Lanka.
MICROCAPITAL BRIEF: Symbiotics Issues Bonds Supporting SME, Rural Finance: $12m for Costa Rica’s Banco Improsa, $10m for Indonesia’s Mitra Bisnis Keluarga (MBK) Ventura, $6m for Armenia’s Armeconombank
Symbiotics Group, a Switzerland-based for-profit investment intermediary, recently informed MicroCapital that it has issued local-currency bonds
MICROCAPITAL BRIEF: Developing World Markets Closes Debt Investments Totaling $8.3m in Armenia, Colombia, India, Nicaragua
Developing World Markets (DWM), a US-based asset manager and investment bank, recently announced that it issued loans in February and March 2016 to four unidentified financial institutions serving microentrepreneurs, including a Colombian bank and non-banking financial institutions (NBFIs) in Armenia, India and Nicaragua.
MICROCAPITAL BRIEF: Dual Return Funds Managed by C-Quadrat Loan $12m to Microfinance Institutions (MFIs) in Asia, Latin America, Tanzania
During the month of June 2016, Austria’s C-Quadrat Asset Management GmbH issued loans worth the equivalent of USD 12 million via its two Dual Return Funds to unspecified microfinance institutions (MFIs) in Cambodia, India, Nicaragua, Peru, the Philippines, Sri Lanka and Tanzania. USD 1 million of this total was invested in