Deutsche Bank, a Germany-based international bank, recently secured EUR 51 million (USD 64 million) from undisclosed private investors for the senior tranche of the European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg.
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MICROCAPITAL BRIEF: Advans, International Finance Corporation (IFC), KfW Bankengruppe, FMO to Start La Fayette Microfinance Bank in Nigeria with $6.2m in Equity Investments
Advans SA, a Luxembourg-based microfinance investment vehicle, has partnered with the International Finance Corporation (IFC), a US-based member of the World Bank Group; KfW Bankengruppe, a German development bank; and Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Netherlands-based public-private development bank, to create a microfinance bank in Oyo State, Nigeria.
MICROCAPITAL BRIEF: Microfinance Institution AccessBank of Azerbaijan Disburses 500,000th Loan
Microfinance institution (MFI) AccessBank of Azerbaijan, an affiliate of Access Microfinance Holding AG (AccessHolding), recently announced that it has disbursed its 500,000th loan [1].
MICROCAPITAL BRIEF: Bank of Maldives Borrowing $40m from ADB, JICA, OeEB, for Blue Economy, SMEs, Tourism
The multilateral Asian Development Bank (ADB) recently announced a syndicated funding package of USD 41 million for the Bank of Maldives Plc (BML) to support tourism and other sectors. ADB syndicated the funding, which encompasses
MICROCAPITAL BRIEF: BlueOrchard Arranges $20m Loan from Microfinance Enhancement Facility (MEF), BOMF to FINCA Impact Finance
FINCA Impact Finance, a network of microfinance institutions (MFIs) in 20 countries, recently agreed to
MICROCAPITAL BRIEF: RSA Advisory, FMO Syndicate $80m Loan for One Bank of Bangladesh for On-lending to Smaller Firms, Environmental Efforts with Participation from PROPARCO, Norfund, OeEB, FMO-Actiam SME Finance Fund
RSA Advisory, a Bangladeshi firm founded in 2014, and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a development bank controlled by the Dutch government, recently arranged a syndicated loan totaling USD 80 million for One Bank of Bangladesh, mainly for on-lending to small and medium-sized enterprises (SMEs) and projects that reduce environmental impact.
The funders include – in unspecified portions – the SME Finance Fund and three government-backed
MICROCAPITAL BRIEF: Equator Raises $62m for ShoreCap III from AfDB, CDC, EIB, KfW, OeEB to Invest in Financial Inclusion in Africa
Equator Capital Partners, a US-based manager of “impact” funds, recently announced the first close of its third ShoreCap fund, which will invest in African firms offering services such as microcredit, microinsurance, leasing, housing finance, and banking for small and medium-sized enterprises. Equator is seeking to raise a total of USD 150 million for ShoreCap III to invest over 10 years in about
MICROCAPITAL BRIEF: Netherlands’ FMO Syndicates $220m Loan for Togo-based Ecobank, with Participation from BlueOrchard Microfinance Fund, Symbiotics, Oikocredit, DEG, Proparco, OeEB, BIO
The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently arranged a syndicated loan in the amount of USD 220 million for Togo-based Ecobank Transnational Incor
MICROCAPITAL BRIEF: IFC, KfW, OeEB Renew $310m in Commitments to Microfinance Enhancement Facility (MEF)
The Microfinance Enhancement Facility (MEF), which was established in 2009 to provide liquidity to microfinance institutions (MFIs), recently negotiated an extension until 2025 of its investments from the World Bank Group’s International Finance Corporation (IFC) and the development banks of Germany and Austria. These investments total USD 310 million out of MEF’s total assets of approximately USD
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $7m to TuranBank of Azerbaijan to Fund Micro-, Small, Medium-sized Rural Enterprises
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 loan USD 7 million to TuranBank Open Joint Stock Company (TuranBank), a retail and corporate bank in Azerbaijan.
MICROCAPITAL BRIEF: Advans SA Raises $27m from Existing Shareholders in Third Round of Fundraising
Advans SA, a Luxembourg-based organization that provides financial services to micro, small, and medium-sized enterprises (MSMEs), recently raised EUR 20 million (USD 26.8 million) in its third round of fundraising.
MICROCAPITAL BRIEF: EIF, EBRD, European Commission, DEG to Allocate $19.8m for Small, Medium-Sized Enterprises (SMEs) Via Western Balkans Enterprise Expansion Fund (ENEF)
The European Investment Fund (EIF), a public-private partnership that provides risk capital to small and medium-sized enterprises (SMEs), and the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development bank, recently announced an agreement to allocate a total of EUR 14.5 million (USD 19.8 million) to support investing in SMEs in the Western Balkans region through the Western Balkans Enterprise Expansion Fund (ENEF).
MICROCAPITAL BRIEF: Rating Initiative to Stop Subsidizing Microfinance Institution Social Ratings, Will Shut Down Over Two Years
The Rating Initiative (RI), a Luxembourg-based program that supports the use of ratings that include financial and social criteria, is transitioning into a two-year exit phase that includes terminating its subsidies for social ratings of microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), European Fund for Southeast Europe (EFSE), European Investment Fund to Loan $38m to Alternatifbank A.S. (ABank) of Turkey
Alternatifbank A.S. (ABank), a private commercial bank in Turkey, has entered into a loan agreement with German development finance institution Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG) and the European Fund for Southeast Europe (EFSE), a microfinance investment fund incorporated in Luxembourg, to receive EUR 30 million (USD 38.7 million) to boost credit availability for micro-, small and medium-sized enterprises (MSMEs) in Turkey [1].
MICROCAPITAL BRIEF: The Rating Initiative Presents the Microfinance Rating Market Review 2010
The Rating Initiative, a program implemented to support and encourage the use of financial and social ratings in the microfinance sector, has released the “Microfinance Rating Market Review 2010”.
KNOW A MICROFINANCE FUND: European Fund for Southeast Europe (EFSE)
Overview:
The European Fund for Southeast Europe (EFSE) mobilizes capital for microfinance institutions (MFIs).
MICROCAPITAL STORY: EFSE Invests USD 10 million Into PJSC MEGABANK of Ukraine
The European Fund for Southeast Europe (EFSE) and PJSC MEGABANK, a Ukrainian commercial bank, signed a loan agreement of USD 10 million. This long-term subordinated loan is intended to allow PJSC to enlarge its capacity to provide access to finance for micro and small enterprises. This is EFSE’s first investment in the Ukrainian market.[3]
MICROCAPITAL STORY: European Fund for Southeast Europe (EFSE) Provides EUR 20m Loan to Serbia’s Komercijalna Banka
The European Fund for Southeast Europe (EFSE) has announced a EUR 20 million loan to Komercijalna Banka to further expand its outreach to micro and small enterprises (MSEs) in Serbia. The loan brings EFSE’s total investment portfolio in Southeast Europe to EUR 551 million.