This story comes to us here at MicroCapital.org courtesy of the May 2007 CGAP-MIX Capital Markets Update Newsletter. The Micro Finance Bank of Azerbaijan (MFBA) sells USD 4.3 mn of its shares to six investors: EBRD, Black Sea Trade and Development, IFC, KfW, LFS Financial Systems, and AccessHolding. The European Bank for Reconstruction and Development (EBRD) invested the equivalent of USD 1.1 mn in MFBA. The EBRD is a multilateral institution that was formed in 1991 to support market economies and democracies from Central Europe to Central Asia. The organization currently works with more than 70 commercial banks and non-banking financial institutions to support microbusiness and microfinance. To date it has lent more than USD 1bn to facilitate more than USD 15 bn of microloans in the region.
Similar Posts:
- MICROCAPITAL BRIEF: EBRD Offering AgriAcademy Graduate-level Education Courses in Ukraine to Boost Agriculture Sector
- MICROCAPITAL BRIEF: EBRD Loans KICB $7m for MSME Financing in Kyrgyzstan
- MICROCAPITAL BRIEF: EU Guaranteeing $113m to Support $490m in Lending by EBRD to MSMEs in Eastern Europe, North Africa, Western Asia
- MICROCAPITAL BRIEF: EBRD Purchases 5% Equity Stake in ProCredit from IFC, Increasing Exposure to SMEs in Europe, Ecuador
- MICROCAPITAL BRIEF: EBRD Loaning $5m to ING Finansal Kiralama for Leasing for Energy Efficiency, Renewables in Turkiye
