MICROCAPITAL BRIEF: ADB Donates $150k to Cantilan Bank of the Philippines to Migrate to Oradian Cloud Banking Software

The Philippine’s Cantilan Bank recently received grant funds of USD 150,000 from the Manila-based Asian Development Bank to migrate its operations to Instafin, a cloud-based software product from Croatia-based Oradian. The migration is expected to help Cantilan carry out its “day-to-day operations more effectively and serve their clients more efficiently.” Cantilan Executive Vice President Tanya Hotchkiss said, “This has given Cantilan more capacity to focus on our core business and financial inclusion

MICROCAPITAL BRIEF: Entrepreneur Financial Centre (EFC) Tunisia Receiving Technical Assistance from International Finance Corporation (IFC), Opening New Branch in Sfax

Entrepreneurs Financial Centre (EFC) Tunisia, a for-profit microfinance institution based in Tunis, recently arranged to receive advisory services from the International Finance

MICROCAPITAL BRIEF: Fundación Paraguaya Offering Loans in Paraguay for Stoves with Lower Environmental Impact, Supported by DiD, Econoler, IDB

Fundación Paraguaya, a Paraguay-based non-governmental organization, recently introduced a credit product intended to facilitate “the purchase of environmentally friendly technology,” particularly induction stoves, which run on electricity rather than gas or charcoal. In a pilot program, 383 women who purchased induction stoves

MICROCAPITAL BRIEF: Calvert Foundation Buys $5m in Subordinated Notes from Eco.Business Fund in Effort to Mitigate Climate Change in Latin America

The Calvert Social Investment Foundation, a US-based institution supporting the “social and environmental impact sectors,” recently invested USD 5 million in the Eco.Business Fund, a lender to financial institutions in Latin America that seek to mitigate climate change. The financing is in the form of subordinated notes, the first time the Eco.Business Fund has borrowed in this manner.

MICROFINANCE EVENT: The Microfinance Centre’s (MFC’s) Alternative Finance Forum; October 5, 2017; Warsaw, Poland

Event Name: Alternative Finance Forum

Event Location: Copernicus Conference Centre; Warsaw, Poland

Summary of Event: This forum aims to “introduce new forms of financial services” while covering topics including equity-based crowdfunding, social impact bonds, online lenders to small businesses and peer-to-peer lending platforms. The event has support from the European Union and its European Investment Bank Institute.

MICROCAPITAL BRIEF: UK-based Humaniq Harnesses Blockchain, Biometrics To Launch Mobile Money Service in Ghana, Asia, South America

Humaniq, a London-based technology company, recently announced the launch of its “blockchain-powered financial inclusion app,” which allows users to send and receive money. Humaniq has

MICROCAPITAL BRIEF: Indonesian Online Lender UangTeman Raises $12m in Equity Funding for Consumer Loans, Research and Development

UangTeman, an Indonesian firm offering online loans of up to USD 350, recently announced it has secured USD 12 million in Series A funding from

MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Lends $840k to Mali’s Réseau de Micro-institutions de Croissance de Revenus (RMCR), Part for Microinsurance

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions and social businesses, recently informed MicroCapital that it has committed to extending two loans denominated in CFA francs to Réseau de Micro-institutions de Croissance de Revenus (RMCR), a savings and credit union in Mali.

MICROCAPITAL BRIEF: PFIP Giving $450k to Solomon Islands’ Government to Digitize Tax Payments

The Pacific Financial Inclusion Program, a Fiji-based initiative of the UN that works to extend financial services to unbanked Pacific Islanders, recently granted USD 450,000 to the Solomon Islands’ Inland Revenue Division (IRD) with the goal of increasing the availability of electronic payment channels for taxes paid by “123,800 wage and salary employees, 200 corporate taxpayers and 3,684 small businesses.”

MICROFINANCE EVENT: Financial Inclusion Summit East Africa; September 5, 2017; Nairobi, Kenya

Event Name: Financial Inclusion Summit East Africa 2017

Event Date: September 5, 2017

Event Location: Radisson Blu Hotel; Nairobi, Kenya

Cost: The fee to attend is USD 440.

Summary of Event: This conference offers opportunities “to discuss critical challenges, opportunities, pilot programmes and future roadmaps” associated with financial inclusion across East Africa. The event will feature approximately a dozen sessions on topics such as: the financial inclusion gender gap; how to overcome barriers to financial inclusion; financial regulation; financial technology; and the dynamics between financial inclusion and the wider financial services industry.

MICROCAPITAL BRIEF: MicroFinanza Rating Issues 13 Institutional, Social, Client-protection Credentials to Microfinance Institutions in Albania, Morocco, Namibia, Asia, Latin America

During July and August, Italy’s MicroFinanza Rating (MFR) issued five microfinance institutional ratings. Morocco’s Attadamoune Micro-Finance was assigned the grade B+ with a stable outlook. Ecuador’s Fundación Espoir and Albania’s FED Invest both earned grades of BB with stable outlooks. Two institutions earned grades of

MICROFINANCE PUBLICATION ROUND-UP: Offshore Financial Centers for Impact Investing; Financial Inclusion in 2025; Microfinance in India

“Offshore Financial Centers for Financial Inclusion: A Marriage of Convenience;” by Sam Mendelson and Daniel Rozas; published by the Center for Financial Inclusion (CFI) at Accion; June 2017; 14 pages; available at:
http://www.centerforfinancialinclusion.org/publications-a-resources/browse-publications/865-offshore-financial-centers-for-financial-inclusion

This paper explores the use of offshore financial centers (OFCs) based on interviews with 13 equity impact investors.

MICROCAPITAL BRIEF: Telenor Pakistan, Telenor Microfinance Bank, Punjabi Government Creating Connected Agriculture Platform Punjab (CAPP)

Two entities in Pakistan that are controlled by Norwegian conglomerate Telenor recently partnered with two entities of the government of the Pakistani province of Punjab to create the “Connected Agriculture Platform Punjab” (CAPP).

MICROCAPITAL BRIEF: CGAP, Pula Announce Microinsurance Partnership for Farmers in Nigeria

CGAP (the Consultative Group to Assist the Poor), a US-based, nonprofit research center that aims to facilitate the expansion of financial access, and Pula, a Kenya-based, agricultural insurance intermediary that serves small-scale farmers by leveraging satellite technology, recently announced that they are partnering to deliver “satellite-based agricultural insurance” to farmers in Nigeria.

MICROCAPITAL BRIEF: Reserve Bank of India Releases “Compendium of Guidelines on Financial Inclusion and Development” in Support of Small Finance Banks’ Launch

The Reserve Bank of India, India’s central banking authority, recently released its “Compendium of Guidelines on Financial Inclusion and Development” for small finance banks, a new classification of institutions intended to increase the “supply of credit to micro- and small enterprises (MSEs), [as well as] agriculture and banking services in unbanked and under-banked regions in the country.”