Creditinfo Group, an Iceland-based operator of credit reporting firms in 25 markets worldwide, recently launched a credit bureau in Azerbaijan that it co-owns with 21 financial institutions in the country. The International Finance Corporation (IFC), a member of the World Bank Group, participated in developing
Category: South Asia, East Asia and Pacific
MICROFINANCE EVENT: Global Symposium on Microfinance: Revolutionizing Microfinance: Insight, Innovation, Inclusion; May 22 – 23, 2017; Kuala Lumpur, Malaysia; Asian Banking School Training for Practitioners; May 24 – 26, 2017
Event Name: Global Symposium on Microfinance: Revolutionizing Microfinance: Insight, Innovation, Inclusion
Dates: May 22 – May 23, 2017
Location: Kuala Lumpur, Malaysia
Summary of Event: This symposium will consist of discussions and presentations on scaling up through innovative channels, deploying digital credit, design thinking, using “big data,” and credit risk assessment and risk management [1]. Following the symposium, the Asian Banking School is offering a three-day training
MICROCAPITAL BRIEF: Ant Financial, Ayala Buy Equity Stakes in Globe’s Mynt, Operator of the Philippines’ GCash, Fuse Lending
Ant Financial Services Group (Ant Fin), a member of China’s Alibaba Group, and Ayala Corporation, a Philippine conglomerate, recently announced their purchases of minority stakes in Globe Fintech Innovations, a financial technology (fintech) affiliate of Globe Telecom that uses the trade name Mynt. Mynt operates GCash, a mobile money
MICROCAPITAL BRIEF: World Bank Providing $130m for Financial Inclusion Effort in Pakistan
The government of Pakistan recently announced the start the Pakistan Financial Inclusion and Infrastructure Project with funding totaling USD 130 million from two arms of the World Bank, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Three Pakistani organizations will carry out the project: the Pakistan Microfinance Investment Company, a new organization funded by
MICROCAPITAL BRIEF: C-Quadrat’s Vision Microfinance Funds Loan $46m, Largely in Asia, Panama, Tanzania
C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 46 million to unidentified providers of financial services in Cambodia, India, Panama, Sri Lanka, Tanzania and
MICROCAPITAL BRIEF: Tala Raises $30m in Series B Equity from IVP, Ribbit Capital, Existing Investors to Expand Mobile Phone Microlending in Asia, Latin America
Tala, a US-based microlender serving East Africa and Southeast Asia via mobile phone apps, recently raised USD 30 million through its Series B equity round in order to expand its services into South Asia and Latin America. Tala provides loans between USD 10
MICROCAPITAL BRIEF: CreditAccess Asia Raises $103m in Equity from Investors Including Asian Development Bank, Istituto Atesino di Sviluppo, Olympus Capital
CreditAccess Asia, which is based in the Netherlands and provides microfinance services in four countries in Asia, recently acquired new equity investments totaling EUR 95 million (USD 103 million). The investors include the Asian Development Bank (ADB) and Italian private equity firm Istituto Atesino di Sviluppo. Olympus Capital Asia, a previous equity investor in CreditAccess, was among the investors increasing their stakes through the conversion
MICROCAPITAL BRIEF: Incofin’s agRIF Raises $27m for Financial Inclusion in Agriculture from Investors Including AXA, KBC, Korys, Invest in Visions, MRBB
Belgium’s Incofin Investment Management recently informed MicroCapital that its agRIF, the successor to the Rural Impulse Funds I and II, has raised USD 27 million in unspecified portions from multiple investors, bringing its size
MICROFINANCE PUBLICATION ROUND-UP: Alternative Financing in Africa, Middle East; Interoperability of Digital Financial Systems; Financial Inclusion in Kerala, India
“The Africa and Middle East Alternative Finance Benchmarking Report”; by The Cambridge Centre for Alternative Finance (CCAF) and Energy4Impact; published by CCAF; February 2017; 64 pages; available at https://www.scribd.com/document/338995486/CCAF-Africa-and-Middle-East-Alternative-Finance-Report-2017#download&from_embed/
This report focuses on assessing the types and prevalence of alternative financing in Africa and the Middle East.
MICROCAPITAL BRIEF: Quona Capital Management Raises $141m for Accion Frontier Inclusion Fund from Chase, MaserCard, AXA, Prudential, MetLife
Quona Capital Management, which is based in the US city of Washington, recently announced that it has raised USD 141 million from multiple investors for the Accion Frontier Inclusion Fund (AFIF), a fund backed by the US-based nonprofit Accion and managed by Quona Capital. The participating funders are US-based corporates including JP Morgan Chase & Co., MasterCard, Prudential Financial
MICROCAPITAL BRIEF: Whole Foods Market’s Whole Planet Foundation Raises $2.2m to Support Microfinance Institution Partnerships in 11 Countries, Including Expanding Work with Grameen America to New York, Miami
The Whole Planet Foundation, an affiliate of US-based grocer Whole Foods Market, announced it has secured donations of USD 2.2 million (as of March 17) towards its goal of raising USD 3.2 million by the end of March 2017 to grant for microlending through
MICROCAPITAL BRIEF: TriLinc Approves $36.8m in Term Loans, Trade Finance for SMEs in Africa, Latin America, Southeast Asia
TriLinc Global Impact Fund (TriLinc) recently announced that it has approved the disbursal of USD 36.8 million to fund term loans and trade finance transactions for small and medium-sized enterprises (SMEs). The term loans will be disbursed to 10 different companies
MICROCAPITAL BRIEF: Microfinance Institution ASA Philippines to Issue $40m in Bonds to Expand Lending for MSMEs
ASA Philippines, a microfinance NGO, recently announced it will issue PHP 2 billion (USD 40 million) in bonds to fund new and existing projects through 2021. One of these is lending to women entrepreneurs in amounts from PHP 6,000 (USD 119) to PHP 10,000 (USD 199) with a flat interest rate of 15 percent for six months.
MICROCAPITAL BRIEF: Indonesian Government Seeks to Shift KUR Microlending to Agriculture, Fisheries, Manufacturing from Trading, Services
The Indonesian government recently announced it plans to grow the portion of its Kredit Usaha Rakyat (KUR) program that is used for agriculture, fishing and manufacturing from 22 percent of the program total to 40 percent. The remainder of KUR lending is for trading and services.
MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Funds Loan $18m in Eurasia, Latin America, Zambia
C-Quadrat Asset Management, an arm of Austrian fund manager C-Quadrat, recently informed MicroCapital that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 17.5 million to unidentified providers of financial services in Cambodia,
MICROCAPITAL BRIEF: FMO Lends $52.5m to Climate Investor One for Hydro, Solar, Wind Energy Projects in Africa, Asia
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently announced it will loan USD 52.5 million in two transactions to Climate Investor One (CIO), a facility managed by Netherlands-based Climate Fund Managers. The objective of the loan is for CIO to aid in the development
MICROCAPITAL BRIEF: Asian Development Bank Invests $1.5m in Equity in India’s M-CRIL to Expand Ratings in Cambodia, China, Indonesia, Nepal
Micro-Credit Ratings International Limited (M-CRIL), an India-based provider of rating and advisory services to the microfinance industry, recently sold an unspecified portion of its equity to the Asian Development Bank (ADB), a development finance institution with 67 member countries. One goal of the funding is to help M-CRIL expand in Cambodia, China, Indonesia and Nepal. ADB Principal Investment Specialist Anshukant Taneja said the investment will
MICROCAPITAL BRIEF: MicroFinanza Rating Issues 10 Institutional, Social Ratings
During February 2017, Italy-based MicroFinanza Rating issued “microfinance institutional ratings” to the following institutions, all with stable outlooks: Indonesia’s Komida, which was assigned a grade of BB; Albania’s NOA, which earned a BBB; Haiti’s ACME, which was assigned a BB+; Vietnam’s Anh Chi Em (ACE), which got a BB-; and two institutions that each received an A-,