The Pakistani government has approved a Ministry of Finance Credit Guarantee Scheme that encourages banks to finance smallholder farmers by sharing 50 percent of the loan default risk.
Category: Middle East
MICROCAPITAL BRIEF: Habib Bank of Pakistan to Acquire Control of “First Microfinance Bank” in Stages for Approximately $19m
Habib Bank, a Pakistan-based commercial bank, has unveiled plans to acquire a controlling stake in First Microfinance Bank Limited-Pakistan (FMFB-P), a Pakistani microbank, via a series of equity investments over the next three years.
MICROCAPITAL BRIEF: USAID-Funded Lebanon Investment in Microfinance (LIM) Program Establishes Microfinance Association
Lebanon’s Ministry of Interior and Municipalities officially has approved the establishment of a microfinance association, whose membership will consist of the following Lebanese microfinance institutions (MFIs): Association for the Development of Rural Capacities, Association d’Entraide Professionnelle, Al Majmoua, Entrepreneurial Development Foundation, Emkan, Ibdaai Lebanon, Makhzoumi Foundation and Vitas.
MICROCAPITAL BRIEF: Bangladeshi Government Takes Interim Control of Grameen Bank
The Grameen Bank, a microfinance institution in Bangladesh, is being run by government-appointed board members as of February 2015.
MICROCAPITAL BRIEF: $53k Giordano Dell’Amore Microfinance Best Practices International Award Applications Due April 19, 2015
Fondazione Giordano Dell’Amore, an Italian foundation that supports microfinance, has announced that it is accepting applications for its 2015 Giordano Dell’Amore Microfinance Best Practices International Award, which aims to increase the understanding of microfinance and promote the sharing of good practices among industry players.
MICROCAPITAL BRIEF: Bank al Etihad Borrowing $20m from European Bank for Reconstruction and Development (EBRD) for Micro, Small, Medium-Sized Enterprises (MSMEs) in Jordan
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has agreed to open a credit line of USD 20 million for Bank al Etihad, a Jordanian provider of financial services to both large and small organizations, for on-lending to micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: Social Performance Task Force, Smart Campaign Launch Responsible Microfinance Facility (RMF) for Training, Technical Assistance in the Middle East, Africa
The Social Performance Task Force, a US-based nonprofit charged with addressing questions about measuring and managing social performance, in collaboration with the Smart Campaign, a client-protection initiative of US-based nonprofit Accion, recently launched the Responsible Microfinance Facility (RMF), a three-year initiative funded by the French government’s Agence Francaise de Developpement (AFD) to improve the capacity and performance of microfinance institutions in Africa and the Middle East.
MICROCAPITAL BRIEF: Fern Software Implements Abacus MIS System for Microfinance Institutions (MFIs) in Jordan, Tunisia; Premiering Arabic, French Editions of Software
UK-based Fern Software recently informed MicroCapital that it has implemented its Abacus financial management information system (MIS) in two additional languages: in Arabic for a microfinance institution (MFI) in Jordan and in French for an MFI in Tunisia.
MICROCAPITAL BRIEF: Sanad Fund for MSME Expands into Yemen with $3m Loan to Al-Amal Microfinance Bank
The Sanad Fund for MSME (micro-, small and medium-sized enterprise), a Germany-based fund providing medium- and long-term debt and equity financing in the Middle East and North Africa, recently disbursed a senior loan of USD 3 million to Al-Amal Microfinance Bank (AMB), a nonprofit minority-held by the government of Yemen, to support micro- and small enterprises (MSE) in the country.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $114m to Finansbank for Women Entrepreneurs in Turkey, Bank CenterCredit (BCC) for Micro-, Small, Medium-Sized Enterprises in Kazakhstan
The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution headquartered in England, recently extended loans to Finansbank, a commercial bank in Turkey that is a subsidiary of the National Bank of Greece Group, and Bank CenterCredit (BCC), a Kazakhstan-based joint stock company.
MICROCAPITAL BRIEF: European Investment Bank Signs $25m in Financing Agreements with Banque Tuniso-Koweitienne, Tunisian Microfinance Institution (MFI) Taysir
The European Investment Bank (EIB), the Luxembourg-based long-term lending bank of the European Union (EU), recently approved two financing agreements with a total value of EUR 21 million (USD 25.2 million).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $67m in Equity in Bank Alfalah of Pakistan to Promote Financial Access for Small, Medium-sized Enterprises (SMEs); Economic Growth; Job Creation
The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it will invest USD 67 million in Bank Alfalah (Alfalah), a Pakistan-based financial institution.
MICROCAPITAL BRIEF: UAE’s Khalifa Fund for Enterprise Development Loans $200m to Egyptian Government for Microfinance
The Khalifa Fund for Enterprise Development (Khalifa Fund), a fund backed by the government of the emirate of Abu Dhabi, has announced that it will loan USD 200 million to the government of Egypt to fund microfinance programs in that country.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Establish $99m Sustainable Energy Financing Facility for Morocco; to Loan $6m to Banque Marocaine du Commerce Extérieur (BMCE) of Morocco for On-Lending for Sustainable Energy Investments; to Establish $37m Sustainable Energy Financing Facility for Jordan
The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution headquartered in England, is considering the establishment of a EUR 80 million (USD 99.4 million) “Sustainable Energy Financing Facility for Morocco”[1] (MorSEFF) that would disburse loans to EBRD’s partner financial institutions in Morocco.
MICROCAPITAL BRIEF: European Investment Bank (EIB) to Loan $31m to AccessBank Azerbaijan for On-lending to Small, Medium-Sized Enterprises (SMEs)
The Luxembourg-based European Investment Bank (EIB), the long-term lending bank of the European Union (EU), recently announced that it is extending an intermediated senior loan totaling EUR 25 million (USD 31 million) to AccessBank Azerbaijan, a microfinance bank (MFB) in Azerbaijan, for on-lending to small and medium-sized enterprises (SMEs) in the country.
MICROFINANCE EVENT: 5th Global Entrepreneurship Summit (GES); November 19-21, 2014; Marrakesh, Morocco
Event Name: 5th Global Entrepreneurship Summit
Event Dates: November 19-21, 2014
Event Location: Bab Ighli, 132 Derb Aghrab Bab Aylen, Marrakesh, Morocco
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) May Establish $200m Loan Facility for On-lending to Micro-, Small, Medium-Sized Enterprises (MSMEs) in Kazakhstan
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, recently announced that it is in the final stage of consideration for the establishment of a “Kazakhstan MSME Framework,” a credit facility totaling KZT 36 billion (USD 200 million) for on-lending to micro-, small and medium-sized enterprises (MSMEs) in the country.
SPECIAL REPORT: On Microbusiness Support in Conflict Zones, a Discussion at European Microfinance Week
Major David Beskow of the US Military Academy told a crowd at European Microfinance Week, about distributing microgrants in eastern Baghdad, Iraq, largely to women shop-owners for refrigeration, generators or inventory. Funded by the Iraqi government and the US Army’s Commander’s Emergency Response Program, each grant ranged in size from USD 500 to USD 5,000. Although no repayment was required, each beneficiary business was documented through photos and other means before disbursal and after one and six months, in the presence of local police.