Event Name: Latin American Impact Investment Forum (Foro Latinoamericano de Inversion de Impacto)
Event Date: February 18 – 20, 2014
Event Location: Hyatt Regency, Merida, Mexico
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MICROCAPITAL BRIEF: Inter-American Development Bank to Allow Public to Select Programs Seeking to Improve Financial Inclusion for People with Disabilities in Latin America and the Caribbean
The Inter-American Development Bank (IDB), a US-based multilateral financial institution, recently announced a call for proposals to increase the inclusion of people with disabilities as financial sector clients and workers in Latin America and the Caribbean. The competition is open to public and private financial institutions from IDB’s 48 member countries to propose projects to be carried out in Latin America and the Caribbean. Proposals will be voted on by the public, and the ideas with the most votes will receive grants of up to USD 50,000 to assist with their implementation. Proposals that focus on gender equality will be given priority.
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) to Make $4m Equity Investment in Vox Capital Impact Investing Fund of Brazil for Social Businesses, SMEs
The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, recently announced that it will make a USD 4 million equity investment in Vox Capital Impact Investing Fund, a Brazilian venture capital fund targeting small and medium-sized enterprises (SMEs) and start-ups that serve the low-income population, also referred to as the base of the pyramid (BoP).
MICROCAPITAL BRIEF: 15 Caribbean Microfinance Institutions to Benefit from $2m Phase Two of Caribbean Microfinance Capacity Building Project (CARIB-CAP II)
Fifteen microfinance institutions in the Caribbean have recently become beneficiaries of a USD 2.7 million technical cooperation fund that will provide customized staff training programmes.
MICROCAPITAL BRIEF: Multilateral Investment Fund, Global Partnerships to Establish $1m Health Project in Ecuador, Haiti, Honduras, Nicaragua
The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, has agreed to partner with Global Partnerships, a US-based nonprofit, to support microfinance institutions (MFIs) and cooperatives in offering health services and health education to low-income households in Ecuador, Haiti, Honduras and Nicaragua.
MICROFINANCE EVENT: REDCAMIF to Host 6th Annual Microfinance Conference on Growing with Inclusion, Panama City, September 5 – 7, 2012
Event Name: 6th REDCAMIF Conference: Growing with Inclusion
MICROCAPITAL BRIEF: Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) Launches Inter-American Awards for Microenterprise Development 2010
In an effort to acknowledge the achievements of organizations supporting microenterprise development in Latin America and the Caribbean, the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) recently launched the Inter-American Awards for Microenterprise Development 2010.
MICROFINANCE PAPER WRAP-UP: Advances in Measuring Social Performance for Microfinance Institutions by Micol Pistelli
Written by Micol Pistelli, Manager of Social Performance at MIX for Workshop 8 at the IDB Foromic 2009 (Inter-American Forum on Microfinance) in Arequipa, Peru. Published October 2009 by the MIX, 2 pages, available at: http://www.themix.org/publications/executive-summary-social-performance-standards-presentation-2009
MICROCAPITAL EVENT: Central America Regional Forum “Microinsurance: A New Goal for Microfinance,” December 3-4, 2009, Panama City, Panama, Sponsored by the Central American Microfinance Network (REDCAMIF)
Event Name: Microinsurance: A New Goal for Microfinance
Event Date: December 3-4, 2009
Event Location: Hotel El Panamá, Vasco Núñez de Balboa Convention Center, Panama City, Panama
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MICROCAPITAL.ORG STORY: The Inter-American Development Bank’s (IDB) Multilateral Investment Fund (MIF) Provides $4m Grant for Microfinance Technology Projects in Latin America and Caribbean
The Inter-American Development Bank’s (IDB) Multilateral Investment Fund (MIF) has approved a USD 3.95 million grant for a program promoting the use of technologies by microfinance institutions (MFIs) in Latin America and the Caribbean (LAC). The program, set to begin early next year, will cost a total of USD 10 million. MFIs in the region are invited to submit proposals, whereupon selected MFI proposals with the most “innovation and capacity to achieve measurable results” will receive support to develop and implement a technology strategy [1].
MICROCAPITAL.ORG STORY: Peru Ranks First in 2009 Microscope Microfinance Index, A Global Index on Business Environment for Microfinance Developed by the Economist Intelligence Unit (EIU), Released by the Inter-American Development Bank (IDB), the Corporación Andina de Fomento (CAF), the International Finance Corporation (IFC), and the EIU
Peru has been named the best country for microfinance in terms of business climate by the 2009 Microscope microfinance ranking from the Economist Intelligence Unit (EIU), the research arm of the Economist Magazine that provides “country, industry and management analysis” [1,2,3]. The 2009 Microscope was published jointly by the Inter-American Development Bank (IDB), the “main source of multilateral financing” in Latin America and the Caribbean, the Corporación Andina de Fomento (CAF) the primary source of multilateral financing in the Andean region, the International Finance Corporation (IFC), the investment arm of the World Bank, and the EIU [4,5,6]. Last year, Peru was named the best country for microfinance in Latin America and the Caribbean. This was covered by Microcapital in October of 2008 [7,8,9]. This year, the rankings were made globally and Peru still topped the list of 55 countries [1].
PRESS RELEASE: BlueOrchard to Manage $250m Microfinance Facility Previously Announced by US President Barack Obama
Source: BlueOrchard.
Calling All Experts in Microfinance Regulation: Please Help Shape Guidelines
To advance on an improved regulatory framework for microfinance operations, the Multilateral Investment Fund (MIF) of the Inter-American Development Fund (IDB) supported the activities of a regional working group lead by the Association of Supervisors of Banks of the Americas (ASBA) with the collaboration of International Consulting Consortium, Inc. (ICC, Inc.). The support included a regional survey to regulators throughout the region, which laid the basis for an initial set of draft “Guidelines of Principles for the Effective Regulation and Supervision of Microfinance Operations.” These guidelines are currently available in summary form for an industry consultation process for comments from selected industry operators.
MICROCAPITAL STORY: Inter-American Development Bank (IADB) Projects First Time Drop in Real Value of Remittances to Latin America and the Caribbean in 2008
The Inter-American Development Bank (IADB) recently announced a projection that the value of remittances sent by migrant workers to their families in Latin America and the Caribbean will grow in 2008 by its slowest rate on record. Migrants sent home about USD 66.5 billion last year but may increase that amount by about 1.5 percent in 2008, bringing the yearly total to USD 67.5 billion. Despite the nominal increase, remittances in 2008 may for the first time contribute 1.7 percent less (p. 1) to household incomes after accounting for rising Latin-American inflation and the falling U.S. dollar.
NEWS WIRE: Paraguay: Inter-American Development Bank underscores support for microfinance in Latin America in face of international turmoil
NEWS WIRE: Paraguay: Andean Countries Boast Best Business Climate for Microfinance, According to Microscope Index
Source: Inter-American Development Bank.
MICROCAPITAL STORY: The Global Financial Crisis And Microfinance
As financial markets struggle internationally, some microfinance institutions (MFIs) have begun to see downstream effects in the form of rising lending rates. Royston Braganza, chief executive officer of Grameen Capital India observed “the demand for funds is high because microfinanciers have drawn up aggressive growth plans” and “the cost of funds remains a concern due to the 2 percent increase in just the last quarter.” These factors could make fundraising very difficult for microfinance institutions in cases where they have not built up proper reserves according to K. Vinod Kumar, Assistant Vice-President of member services at SKS Microfinance.
MICROCAPITAL STORY: Inter-American Development Bank (IDB) Multilateral Investment Fund (MIF) to Invest USD 5m in Mexican IGNIA Social Investment Fund in Addition to Previous USD 25m Loan from the IDB’s Opportunities for the Majority Initiative (OM)
The Inter-American Development Bank (IDB) has made a USD 5m equity investment in the IGNIA Social Investment Fund through the Multilateral Investment Fund (MIF) and a USD 205,000 technical cooperation grant. The IGNIA venture capital fund also received a recent USD 25m loan from the IDB’s Opportunities for the Majority Initiative (OM).