Three previous investors in the company recently committed an additional INR 310 million (USD 4.3 million) to Svasti Microfinance, a provider of loans and payment services to 188,000 customers in India, mostly
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: Samunnati Borrows $12m from FMO, Triodos to Boost Agricultural Producer Organizations, SMEs in India
Samunnati, a non-banking financial company in India dedicated to the agricultural sector, recently borrowed EUR 5 million (USD 6.1 million) each from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a development bank controlled by the Dutch government, and Triodos Investment Management (Triodos IM), a subsidiary of Netherlands-based Triodos Bank, for on-lending to farmer producer organizations (FPOs) and small and medium-sized enterprises (SMEs) in the agricultural sector. Triodos IM is disbursing the funds from
MICROCAPITAL BRIEF: COFIDES Launches $145m Huruma Fund to Deliver Microfinance to 45k Farmers on 4 Continents
Compañia Española de Financiación del Desarrollo (COFIDES), a development finance institution controlled by the Spanish government, recently launched the Huruma Fund, an investment vehicle with commitments of EUR 120 million (USD 145 million) to assist rural farmers in Asia, sub-Saharan Africa, and Latin America and the Caribbean via a range of intermediaries. Seventy percent of Huruma’s portfolio will be deployed via
SPECIAL REPORT: Local Market Data, Resilience During Pandemic, Securitization, Land Title Systems Enable Housing Microfinance, Micro-mortgages
During 
European Microfinance Week 2020, Maria Claudia Rojas of the Netherlands’ Triple Jump described her firm’s experience managing the MicroBuild Fund it created with US-based Habitat for Humanity in 2012. Compared with Triple Jump’s portfolio as a whole, MicroBuild has maintained higher asset quality, and that margin of superiority has doubled during the COVID-19 pandemic.
Lucie Astier Such of the French government’s AFD explained her agency’s role in providing technical assistance, loans and data to support housing finance in developing countries. Part of this effort involves connecting households and microfinance institutions (MFIs) with reputable builders and suppliers of construction materials. One tool for this purpose is
MICROFINANCE PAPER WRAP-UP: “A COVID Perspective on Nepal Microfinance;” by Sanjay Sinha, Nara Hari Dhakal; Published by M-CRIL
This paper is intended to “enable international understanding of the finances of MFIs [microfinance institutions] in Nepal and the potential role of external lenders in supporting the ecosystem of the country.” According to Mr Sinha and Dr Dhakal, the COVID-19 pandemic has had less severe effects on the microfinance sector in Nepal than it has in countries such as India and Myanmar. This is partially because MFI customers in Nepal didn’t make significant withdrawals
MICROFINANCE PAPER WRAP-UP: “Has the Pandemic Spared Cambodia? Liquidity Considerations of Cambodia’s Large MFIs,” by Sanjay Sinha, Published by M-CRIL
The purpose of this paper is “to enable understanding of the finances of [microfinance institutions] in Cambodia and the potential role and expectations of investors in supporting the microfinance ecosystem of the country.” While other sources have sounded alarms
MICROCAPITAL BRIEF: Invest In Visions Mikrofinanzfonds Lends $36m to Indian MFIs Asirvad Microfinance, Sonata Finance
Invest In Visions Mikrofinanzfonds, a fund managed by Germany-based Invest In Visions (IIV), recently made loans totaling EUR 30 million (USD 35.6 million) to two Indian microfinance institutions, Asirvad Microfinance and Sonata Finance. Asirvad received EUR 25 million (USD 29.6 million) and Sonata received EUR 5 million (USD 5.9 million). Both microfinance institutions serve low-income female customers in India,
MICROCAPITAL BRIEF: Code for Responsible Lending Assessment Tool to Incorporate Comprehensive Credit Reporting, Microfinance Institutions to Increase Frequency of Reports to Credit Bureaux
The Code for Responsible Lending (CRL), an initiative serving microlenders in India, recently began developing a new credit assessment tool for evaluating loan applications from low-income households. The tool is intended to help lenders “go beyond multiple/over lending limits and more systematically evaluate the low-income customer
MICROCAPITAL BRIEF: Business Correspondent Sub-K Impact Launching Digital Platform for Insurance, Investing, Microfinance Referrals with Support from Accion, Mastercard
Sub-K Impact Solutions, a subsidiary of India-based BASIX Social Enterprise Group, is releasing a digital platform called SARTHI (Seamless Advanced Resourceful Tech-driven Hybrid Interface) to facilitate access to insurance, microloans and investment services. SARTHI will place users in contact with financial services providers
MICROCAPITAL BRIEF: Nordic Microfinance Initiative Raises $5m from Lauritzen Fonden to Invest in Women in Africa, Asia
Denmark-based Lauritzen Fonden recently invested USD 5 million in “Fund IV” of the Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that invests in microfinance institutions and agricultural initiatives in developing countries. The new investment is specific to microfinance, mainly for women in Africa and Asia.
Lauritzen describes itself as a “commercial foundation.” It earns income from shipping concerns and investments in real estate, technology, software and equipment and then disburses approximately DKK 40 million (USD 6 million) per year to support youth and
MICROCAPITAL BRIEF: Incofin Loans $1.1m to SAVE, Provider of Rural Microfinance, Agent Banking, Toll-road Payment Services in India
Belgium-based Incofin Investment Management (IM) recently disbursed a senior loan of EUR 1 million (USD 1.1 million) from its fund Incofin CVSO to the Society for Advancement of Village Economy (SAVE), which “plans to utilise the…funding to support its two non-banking financial companies providing rural credit services” in India. SAVE’s other units offer
MICROCAPITAL BRIEF: Microfinance Network Gojo Takes $14m Equity Stake in Satya Microcapital of India
Japanese microfinance holding firm Gojo and Company recently increased its minority equity holding in New Delhi-based Satya Microcapital with a share purchase in the amount of INR 1.05 billion (USD 13.9 million). Satya plans to use the capital to expand its work with migrant laborers and other poor people to create and preserve jobs, especially to counteract the effects of the COVID-19 pandemic. Satya CEO Vivek Tiwari said, “the capital infusion will
MICROCAPITAL BRIEF: US International Development Finance Corporation (DFC) Approves $4b “Rapid Response Liquidity Facility” for Microfinance, Other Ongoing Projects Impacted by COVID-19
The government-backed US International Development Finance Corporation (DFC) recently allocated USD 4 billion to a “Rapid Response Liquidity Facility,” through which it will provide additional funding to in-process DFC projects that have been impacted by COVID-19. This financing will go to a range of current DFC clients, including microfinance institutions (MFIs) that are struggling to collect retail loan repayments, infrastructure projects experiencing delays, and hospitality businesses that have experienced “precipitous revenue losses.” The intent is
MICROCAPITAL BRIEF: Dai-ichi Life Insurance Company Invests $19m in Microfinance for Women via Grameen Crédit Agricole Foundation
The Japan-based Dai-ichi Life Insurance Company recently invested JPY 2 billion (USD 18.6 million) in a “Microfinance and Gender Loan” scheme, which was arranged by Crédit Agricole Corporate and Investment Bank (CIB), a member of the France-based Crédit Agricole Group. The funding will allow the Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, “to support microfinance institutions focusing [on]
MICROCAPITAL BRIEF: Sindhuja Microcredit of India Raises $8.7m in Equity Sale to Carpediem Capital, Nordic Microfinance Initiative
The majority owners of Sindhuja Microcredit, a lender to women in India, recently sold minority shareholdings to Carpediem Capital, an India-based private equity fund manager, and the Nordic Microfinance Initiative (NMI), a public-private partnership based in Norway, for a total of USD 8.7 million. The sizes of the stakes have not been released. Carpediem also invested USD 4 million in Sindhuja in 2019. India’s Vidura Capital served as advisor on the transaction.
The promoters of Sindhuja, Abhisheka Kumar and Malkit Didyala, issued a statement that, “Our customers, self-employed rural women, are the most vulnerable in the COVID–19 world… with their livelihoods under direct threat, this funding will be used to
MICROCAPITAL BRIEF: Aviator EMF Invests $3.1m in Midland Microfin for Microfinance for Women in India
Aviator Emerging Market Fund (EMF), a Mauritius-based entity, recently invested USD 3.1 million in Midland Microfin Limited, a microfinance institution (MFI) that provides women in India with small business loans and insurance services. Most of the loans that the MFI issues are
MICROCAPITAL BRIEF: Reserve Bank of India Moves to Increase Liquidity for MSMEs, Farmers Impacted by COVID-19 via MFIs, NBFCs
In response to the COVID-19 pandemic, the Reserve Bank of India (RBI), India’s central banking authority, recently moved to increase the supply of credit to farmers and micro-, small and medium-sized enterprises (MSMEs) via microfinance institutions (MFIs) and non-banking finance companies (NBFCs). These steps include
MICROCAPITAL BRIEF: Enda Tamweel, FMO Ink $65m Syndicated Loan for Education, Enterprise, Housing Microfinance in Tunisia with Support from TCX, AATIF, ASN, Microbuild, BlueOrchard
Enda Tamweel, a Tunisian microfinance institution, and the Netherlands Development Finance Company, which is also known by its Dutch acronym FMO, recently finalized a syndicated loan agreement denominated in Tunisian dinars equivalent to EUR 60 million (USD 65 million). Two thirds of the funding will flow to Enda via