MICROCAPITAL BRIEF: CGAP, GOGLA, IFC’s Lighting Global Launch PAYGo PERFORM Standards, Seeking to Boost Investment in Off-grid Solar

Two NGOs, US-based CGAP (Consultative Group to Assist the Poor) and the Netherlands-based Global Off-Grid Lighting Association (GOGLA), along with the Lighting Global program of the World Bank Group’s International Finance Corporation (IFC) recently launched a framework for measuring the outcomes of selling off-grid solar products on a pay-as-you-go (PAYGo) basis. The PAYGo Performance, Reporting and Measurement (PAYGo PERFORM) plan “offers the PAYGo solar industry a standardized and transparent set of key performance indicators (KPIs)…

MICROCAPITAL BRIEF: IIV Disburses $18m to Khan Bank of Mongolia, Including for On-lending to MSMEs Developing Post-COVID Business Models

Germany’s Invest in Visions (IIV), under the advice of Belgium-based Incofin Investment Management, recently lent USD 18 million to Khan Bank of Mongolia from the fund IIV Mikrofinanzfonds. The proceeds primarily are slated for on-lending to micro-, small and medium-sized enterprises (MSMEs), especially

MICROCAPITAL BRIEF: IFAD Private Sector Financing Programme to Support Rural Businesses, Launching with $5m Loan to Babban Gona, Facilitator of Agriculture in Nigeria

The UN’s International Fund for Agricultural Development (IFAD) recently launched the Private Sector Financing Programme (PSFP) to support rural businesses; combat hunger, poverty and climate change; and promote the inclusion and empowerment of vulnerable groups in poor countries. The program will issue

MICROCAPITAL BRIEF: Tanzania Mortgage Refinance Company (TMRC) Sells $3.8m in Bonds to Boost Access to Home Ownership

The Tanzania Mortgage Refinance Company (TMRC), an institution that refinances the portfolios of housing lenders, recently completed an issue of corporate bonds on the Dar es Salaam Stock Exchange. The bond listing had a target of

MICROCAPITAL BRIEF: Muthoot of India Raises $10m in MLDs for On-lending to Microfinance Borrowers

Muthoot Microfin Limited, a unit of Indian conglomerate Muthoot Pappachan Group whose focus is serving female entrepreneurs, recently raised INR 750 million (USD 10 million) via market-linked debentures (MLDs) that mature in 18 months. Muthoot Microfin CFO Praveen Thoroppady said, “[W]ith MLDs, we were able to raise

MICROCAPITAL BRIEF: EIB Lending Banca Intesa Beograd of Serbia $47m for SMEs, Mid-Caps Adjusting to COVID-19 Pandemic

Recently, the European Investment Bank (EIB), an entity of the EU, extended a credit line of EUR 40 million (USD 47 million) to Banca Intesa Beograd (BIB) in an effort to boost the Serbian economy in response to the downturn caused by the COVID-19 pandemic. The funds are for on-lending to small and medium-sized enterprises (SMEs) and mid-caps to support operations, job retention and

MICROCAPITAL BRIEF: ADA’s SSNUP, Incofin’s agTAF Supporting Mobile App from Sohan Lal Commodity Management (SLCM) of India, Easing Farmers’, Buyers’ Assessment of Seed Quality

Incofin Investment Management, which is based in Belgium, recently announced a grant of approximately EUR 125,000 (USD 147,000) from its agricultural technical assistance fund (agTAF) and the Smallholder Safety Net Upscaling Programme (SSNUP) to fund a mobile application for customers of Indian agricultural logistics firm Sohan Lal Commodity Management (SLCM). The app, which SLCM plans to launch by

MICROCAPITAL BRIEF: CDC Updates Environmental, Social, Governance (ESG) Toolkit for Financial Services Providers, Adding Climate Component

CDC Group, a development finance institution backed by the UK government, recently launched an updated environmental, social and governance (ESG) toolkit to assist financial services providers (FSPs) in addressing common ESG challenges such as corruption, money laundering, and gender-based harassment and violence. It is targeted at

MICROCAPITAL BRIEF: CredAvenue Issues $45m Market-linked Debenture for Spandana Sphoorty to Boost Microfinance for Women in Rural India

CredAvenue, an India-based firm that connects lenders and borrowers, recently issued a market-linked debenture valued at INR 3.38 billion (USD 45 million) for Spandana Sphoorty Financial Limited, a non-banking financial company (NBFC) providing microloans in India. The participating investors comprise

MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loaning $2.6m in Local Currency to Humo of Tajikistan, ACF of Kazakhstan for On-Lending, Mainly to Rural Customers

The Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently announced it has begun disbursing two loans in local currency to microfinance institutions (MFIs) in Central Asia. In Tajikistan, GCA Foundation is disbursing a loan worth approximately

MICROCAPITAL BRIEF: Government of India Revises COVID-19 Guarantee Program for Bank Funding of MFIs, Seeking to Enable 2.5m Microfinance Loans

India’s Finance Minister, Nirmala Sitharam, recently unveiled a set of measures intended to boost the nation’s economic recovery following its second wave of COVID-19 infections. One of these is to encourage the distribution of 2.5 million retail microloans by microfinance institutions (MFIs), funded by

MICROCAPITAL BRIEF: EBRD Loans $2.4m to ProCredit Bank Bosnia and Herzegovina for Energy Efficiency, Homeowners Eligible for EU Grants

The UK-based European Bank for Reconstruction and Development (EBRD) recently announced it is lending EUR 2 million (USD 2.37 million) to ProCredit Bank Bosnia and Herzegovina (PCB BiH) to on-lend for residential “investments in insulation, windows, heat pumps, solar panels and other improvements” that reduce energy usage. PCB BiH is a member of Germany’s ProCredit Holding, whose members provide

MICROCAPITAL BRIEF: Arcadia Funds, Kayyak Ventures Lead $82m Credit, Equity Package for Marco, Financier of SME Exports from Latin America to US

US-based Arcadia Funds and Chile-based Kayyak Ventures recently led a funding package totaling USD 82 million in favor of Marco, a US-based company that funds exports to the US from small and medium-sized enterprises (SMEs) in Latin America. Twelve other investors also participated in the package, which consists of a

MICROCAPITAL BRIEF: IIV Mikrofinanzfonds Loans $2m to FINCA Tajikistan for Microfinance

German investment research firm Agents for Impact recently advised Germany-based Invest in Visions (IIV) on its disbursement of a loan in the amount of USD 2 million to FINCA Tajikistan, a microfinance institution (MFI) affiliated with the US-based for-profit

MICROCAPITAL BRIEF: CDC, Futuregrowth Participate in $36m Funding Package for Divercity Urban Property Fund to Build 2,500 Sustainable Housing Units in South Africa

The CDC Group, a development finance institution backed by the UK government, has announced a commitment of ZAR 500 million (USD 36 million) from it and other investors to the Divercity Urban Property Fund, a for-profit entity based in South Africa that invests in high-density urban areas. The funding is designated for

MICROFINANCE PAPER WRAP-UP: “Evidence Review on the Role of Male Engagement in Women’s Economic Empowerment (WEE) Programs,” by Emily Aleson et al, Published by Grameen Foundation

This paper analyzes four studies of the impact of male engagement on women’s financial literacy, financial independence, health, education, economic empowerment and maternal practices. Women are subjected disproportionately to

MICROCAPITAL BRIEF: Amazon Opening “Digital Kendra” Storefronts to Support MSME Growth, Digitization in India

US-based retailer and technology company Amazon recently launched its first Digital Kendra customer service location to assist micro-, small and medium-sized enterprises (MSMEs) in India in making more digital sales. The firm plans to open more Digital Kendras to deliver assistance with

MICROCAPITAL BRIEF: EIB Lending Jordan Kuwait Bank $119m for SMEs Adjusting to COVID-19 Pandemic

Recently, the European Investment Bank (EIB), an entity of the EU, extended a credit line of EUR 100 million (USD 119 million) to Jordan Kuwait Bank in an effort to boost the Jordanian economy in response to the downturn caused by the COVID-19 pandemic. The funds are to be used for