by the MicroCapital Team -

MICROCAPITAL BRIEF: BNP Paribas Lends to Satin Creditcare Network of India for Microfinance

France-based bank BNP Paribas has told MicroCapital that it lent an undisclosed sum today to Satin Creditcare Network, a microfinance institution (MFI) in India, to support the growth of its microcredit portfolio. Satin Creditcare serves 3.5 million customers in 18 states with a loan portfolio of approximately INR 62 billion (USD 900 million).

Established in 1990, Satin Creditcare is based in Delhi and lends to households as well as micro-, small and medium-sized enterprises. Its mission is to “provide financial assistance to a large number of households which are excluded from the ambit of mainstream financial service providers so as to enhance their livelihood and promote a productive environment.” While Satin Creditcare does not accept deposits, it operates

by the MicroCapital Team -

MICROCAPITAL BRIEF: PFIP Launches ‘Ave Pa’anga Pau Financial Inclusion Platform with Remittance Channel to Tonga Development Bank from New Zealand’s Kiwi Bank

People living in New Zealand reportedly now can send money to loved ones in Tonga at a lower price. Senders can purchase vouchers with New Zealand dollars from Kiwi Bank, which has 471 branches in New Zealand, and receivers get the remittance in local currency in their Tonga Development Bank accounts. To conform with anti-money laundering regulation, the sender must

by Tiannah Steele -

MICROCAPITAL BRIEF: Insular Life, IFC Launch “InLife Sheroes” Program to Boost Microinsurance Among Women in the Philippines

Insular Life, a Philippines-based insurance company, recently partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to form a program called “InLife Sheroes” to provide Filipino women with skills relating to “financial management, health, and well-being” and offer insurance programs with “specific coverage, bundling of products, and customized add-on services” intended to be of value to women. The program is

by Anuhya Tadepalli -

MICROCAPITAL BRIEF: Berendina Micro Investments of Sri Lanka Receives $393k Guarantee from Grameen Credit Agricole Foundation for Microfinance Lending

Berendina Micro Investments Company (BMIC) of Sri Lanka has secured a loan guarantee of EUR 375,000 (USD 426,000) from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, allowing the microfinance institution to secure funding from an unidentified third party. BMIC will use the funding to boost its microlending in

by Shuyang Sun -

MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loan to Regional Development Bank of Sri Lanka to Leverage Up to $533m for Rural Microfinance, SME Lending

The Asian Development Bank (ADB), a multilateral institution based in the Philippines, recently loaned USD 50 million to Sri Lanka’s state-owned Regional Development Bank (RDB) for on-lending to micro- and small enterprises outside the city of Colombo. These enterprises are to include 500 led by women.

by Umit Naz Deryaoglu -

MICROCAPITAL BRIEF: TriLinc Global Impact Fund II (TGIF II) to Invest in SMEs in Developing Economies

TriLinc Global, a US-based fund manager founded in 2008, recently launched the TriLinc Global Impact Fund II (TGIF II), through which it will lend to companies “committed to responsible, sustainable management and to the creation of positive, measurable impact in” Eastern Europe, Latin America, Southeast Asia and Sub-Saharan Africa. TGIF II seeks to give

by the MicroCapital Team -

MICROCAPITAL BRIEF: SunFunder Raises $42.5m for Solar Energy Transformation Fund from OPIC, Calvert, Ceniarth, IKEA Foundation

SunFunder, a Kenya-based financier of solar energy firms, recently raised USD 37.5 million in debt for its new Solar Energy Transformation (SET) Fund as well as USD 5 million in first-loss grant funding from the IKEA Foundation, an affiliate of the Sweden-founded IKEA group of furniture companies. The goal of SET is to raise USD 85 million to fund the delivery of energy to 3 million people over

by Anuhya Tadepalli -

MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Disburses Local-currency Loan Worth $2.8m to AMK Microfinance Institution of Cambodia

The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently informed MicroCapital that it has lent the equivalent of EUR 2.5 million (USD 2.8 million) in local currency to AMK Microfinance Institution, which was founded in Cambodia in 2003 under

by Anuhya Tadepalli -

MICROCAPITAL BRIEF: KOMIDA of Indonesia Borrows $2.4m in Local Currency from Grameen Credit Agricole Foundation for Microenterprise Lending for Rural Women

Koperasi Mitra Dhuafa (KOMIDA), a savings and loan cooperative in Indonesia, has secured a three-year loan worth approximately USD 2.4 million in local currency from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg. KOMIDA was established in 2004 to provide collateral-free loans to low-income women in rural areas. As of 2019, it serves 598,000 members through 237 offices. In addition to loans and savings,

by Tiannah Steele -

MICROFINANCE PAPER WRAP UP: “Protecting Growing Prosperity: Agricultural Insurance in the Developing World;” from ISF Advisors

This is a summary of a paper published by the Initiative for Smallholder Finance (ISF) Advisors, based on research by Matt Shakhovskoy and Romit Mehta, September 2018, 30 pages, available at:
https://www.raflearning.org/sites/default/files/sep_2018_isf_syngneta_insurance_report_final.pdf

The authors of this paper discuss how agricultural insurance can help smallholder farmers recover from damage to crops and livestock caused by shocks such as extreme weather conditions. According to previous research by ISF, “globally less than

by the MicroCapital Team -

MICROCAPITAL BRIEF: Group Lender in Pakistan Borrows from C-Quadrat Dual Return Vision Microfinance Fund

An NGO in Pakistan has secured a loan from the Dual Return Vision Microfinance Fund of C-Quadrat Asset Management (AM), a member of the Austria-based C-Quadrat Investment Group. The NGO provides group loans to female microentrepreneurs, including farmers. All of these loans include health and

by the MicroCapital Team -

MICROCAPITAL BRIEF: Incofin Sells Equity Stake in Annapurna Microfinance of India as Asian Development Bank, Bamboo Financial Inclusion Fund, Oikocredit Buy In

Belgium-based Incofin Investment Management recently sold all of its shares in India’s Annapurna Microfinance Private Limited to a group of investors, among whom two have been identified, the Bamboo Financial Inclusion Fund, which is managed by Bamboo Capital Partners, and Dutch cooperative investor Oikocredit. In a separate transaction, the Philippines-based Asian Development Bank paid the rupee-equivalent of

by Tiannah Steele -

MICROCAPITAL BRIEF: Nordic Microfinance Initiative Secures $105m in Commitments for NMI Fund IV from Norfund, IFU, Den Norske Bank, Ferd, KLP

The Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions (MFIs) in developing countries, recently announced plans to launch its fourth fund, NMI Fund IV. The fund will

by Michelle Fleming -

MICROFINANCE PAPER WRAP UP: “Understanding the Impact of Demonetization on Bank Account Holders from Low Income Households,” Published by IFMR LEAD

This is a summary of a paper by Preethi Rao, Suraj Nair and Shruti Korada; published by Leveraging Evidence for Access and Development (LEAD), a unit of the Institute for Financial Management and Research (IFMR); April 2018, 46 pages, available at:
http://ifmrlead.org/wp-content/uploads/2018/08/IFMR-LEAD-Demonetization-Study-Final-Report.pdf

This study reviews the short- and long-term impacts on low-income households resulting from the demonetization of Indian currency in 2016. The authors collected data

by Michelle Fleming -

MICROCAPITAL BRIEF: Accion Venture Lab Exits from, Maj Invest Buys Equity in Microfinance Institution Aye of India

Accion Venture Lab, the “seed stage investment arm” of US-based NGO Accion, recently sold part of its stake in Aye Finance, an Indian non-banking financial company – microfinance institution (NBFC-MFI). Meanwhile, Maj Invest Group, a Danish asset management company, bought a stake in Aye Finance through its Financial

by Tiannah Steele -

MICROCAPITAL BRIEF: UN Capital Development Fund (UNCDF) Subsidizes Singtel to Enable Mobile Remittances from Singapore to Myanmar

The UN Capital Development Fund (UNCDF), a US-based agency of the UN that focuses on financial inclusion and other forms of sustainable development, recently launched a three-year collaboration with Singapore-based Singtel to extend the company’s remittance services to Myanmar. Singtel, which provides

by Umit Naz Deryaoglu -

MICROCAPITAL BRIEF: Asian Development Bank (ADB) Loans $60m to Zhujiang Financial Leasing for Small, Medium-sized Enterprises (SMEs) in Central, Western China

The Asian Development Bank (ADB), a multilateral institution based in the Philippines, recently loaned USD 60 million to Zhujiang Financial Leasing Company Limited (ZFL) for on-lending to small and medium-sized enterprises (SMEs) in central and western China. Founded in 2014, ZFL