The author structures this publication as an 11-step “roadmap” for microfinance institutions (MFIs) to respond to the COVID-19 pandemic and its economic impacts as well as to develop resilience going forward.
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MICROCAPITAL BRIEF: Blue Mahoe Buying 40% Equity Stake in Microfinance Provider Sprint of Jamaica
Blue Mahoe Capital, an investment firm based in the US city of Miami, recently agreed to purchase a 40-percent equity stake in Sprint Financial Services Limited, a Jamaican microfinance company, for an undisclosed sum. The transaction is scheduled to close in March. Sprint plans to
MICROCAPITAL BRIEF: IDB Invest Places $10m in Bozano Growth Capital Fund to Take Equity Positions in Mid-sized Healthcare Firms in Brazil
IDB Invest, the private sector arm of the Inter-American Development Bank (IDB) Group, recently executed an equity investment of USD 10 million in Bozano Investimentos, a Brazil-based private equity and asset
MICROCAPITAL BRIEF: Thailand’s Group Lease Acquires 30% Equity Stake in Sri Lanka’s Commercial Credit and Finance (CCF) for $70m
Group Lease Public Company Limited, which is listed on the Thailand Stock Exchange, recently acquired a 29.99-percent stake in Commercial Credit and Finance (CCF), which is traded on Sri Lanka’s Colombo Stock Exchange, for LKR 10.6 billion (USD 70 million).
MICROCAPITAL BRIEF: Thailand’s Bank of Ayudhya (Krungsri) Acquires Cambodian Microfinance Institution Hattha Kaksekar Limited (HKL)
The Bank of Ayudhya (Krungsri), a Thailand-based subsidiary of the Bank of Tokyo-Mitsubishi, recently acquired 100-percent interest in Hattha Kaksekar Limited (KHL), a microfinance institution (MFI) based in Phnom Penh, Cambodia.
MICROCAPITAL BRIEF: FMO Completes $153m Syndicated Loan to Sri Lanka’s Commercial Leasing & Finance (CLC)
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development bank, recently served as lead arranger and facility agent to finalize a USD 153 million senior secured syndicated loan for Sri Lanka’s Commercial Leasing & Finance (CLC).
MICROCAPITAL BRIEF: Sanad, Attijari Leasing Partner to Increase Financing for Small, Medium-sized Enterprises (SMEs) in Tunisia
The Sanad Fund for MSME, a Luxembourg-based public-private partnership that provides medium- and long-term debt and equity financing in the Middle East and North Africa, and Attijari Leasing, a Tunisia-based subsidiary of Attijari Bank that provides leasing services, signed a senior loan agreement for USD 5 million to support micro-, small- and medium-sized enterprises (MSMEs) in Tunisia.
MICROCAPITAL BRIEF: Microfinance Institutions African Century Leasing (ACL) of Zimbabwe, Reefy of Egypt Acquire Banking Licenses; ACL to Accept Deposits
The Reserve Bank of Zimbabwe recently granted a banking license to African Century Leasing (ACL), making it the first microfinance institution in the country that may accept deposits.
MICROCAPITAL BRIEF: Egyptian Financial Supervisory Association Regulates Microfinance Companies, Setting $2m Capital Requirement
The Egyptian Financial Supervisory Association (EFSA), a governmental body that supervises and regulates the financial sector in the country, recently issued a resolution regulating the activities undertaken by microfinance companies.
MICROCAPITAL BRIEF: Egypt Issues Microfinance Law in Effort to Expand Access to Capital for Microenterprises
The government of Egypt reportedly has issued its first microfinance law, which regulates lending by non-bank entities in an effort to expand access to capital for microenterprises.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $47m to Garanti Bank Romania to Support Small, Medium-Sized Enterprises (SMEs), Mostly Those Owned by Women
MICROCAPITAL BRIEF: Egypt Approves Microfinance Law in Effort to Expand Access to Microcredit, Bring Microenterprises into Formal Economy
The government of Egypt reportedly has approved a new law that will expand informal businesses’ access to loans of up to EGP 100,000 (USD 13,985) by enabling non-bank microfinance institutions (MFIs) to enter the formal microfinance sector, which had been restricted to banks and NGOs.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $8.3m to Tutunska Banka of Macedonia for Small, Medium-sized Enterprises (SMEs), Energy Efficiency
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has approved a loan of EUR 6 million (USD 8.3 million) to be disbursed to Macedonian commercial bank Tutunska Banka for on-lending to small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $106m to Banca Comerciala Romania (BCR) for Small and Medium-Sized Enterprises (SMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, recently approved a EUR 80 million (USD 106 million) loan to Banca Comerciala Romania (BCR), a member of Austria-based financial service provider Erste Group Bank AG, for on-lending to small and medium-sized enterprises (SMEs) in Romania.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Guarantee $664m to Vnesheconom Bank (VEB) for Financing Micro-, Small, Medium-Sized Enterprises (MSMEs)
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, is reviewing a proposal to guarantee loans of EUR 500 million (USD 664 million) to be disbursed by Vnesheconombank (VEB), a development bank owned by the government of Russia, to provide funding for micro-, small and medium-sized enterprises (MSMEs) through partner banks.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE) Loans $32m to Garanti Leasing of Turkey to Boost Services to Micro, Small and Medium-Sized Enterprises
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle (MIV) based in Luxembourg, recently disbursed a EUR 25 million (USD 32.6 million) loan to Garanti Leasing, a subsidiary of Turkey’s Garanti Bank that provides real-estate and equipment leasing services, to aid it in serving more micro, small and medium-sized enterprises (SMEs) particularly in rural areas.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Lends $70m to Garanti Bank of Turkey, Hipotekarna Banka of Montenegro, Bai Tushum of Kyrgyz Republic
The European Bank for Reconstruction and Development (EBRD), a development finance institution based in London, recently extended a USD 60 million credit line to Garanti Bank, a Turkish private bank, to develop small and medium-sized enterprises (SMEs) owned by women.
MICROCAPITAL BRIEF: Government Savings Bank of Thailand Expands Microfinance Services in Border Areas
Government Savings Bank (GSB), a government-owned bank providing personal and corporate services in Thailand, reportedly plans to offer new microfinance products and otherwise expand services in advance of the anticipated 2015 launch of the Association of South East Asian Nations (ASEAN) Economic Community (AEC).