The 
EU’s European Commission (EC); the Organization of African, Caribbean and Pacific States (OACPS); and the UN Capital Development Fund (UNCDF) recently announced the first two implementations of a program with a budget of EUR 15 million (USD 17.7 million) intended to utilize digital finance to improve financial inclusion and access to e-commerce for
MICROCAPITAL BRIEF: ANDE, IDB to Implement MSME Digital Transformation Program in Uruguay, Boosting Digital, Human Resources
The Inter-American Development Bank (IDB), a multilateral finance institution that promotes economic development in Latin America and the Caribbean, recently approved a loan of USD 15 million to support micro-, small and medium-sized enterprises (MSMEs) in Uruguay through the MSME Digital Transformation Program. The goal is to increase MSMEs’ adoption and awareness of “digital solutions, increase the supply of digital goods and services, and
MICROCAPITAL BRIEF: Oxus MFIs in Tajikistan, Kyrgyzstan Borrow $2.1m from Grameen Crédit Agricole Foundation for On-Lending, Mostly in Rural Areas
The Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently announced it is disbursing loans in local currency to two members of the US-based Oxus Group, both for on-lending to
MICROCAPITAL BRIEF: I&P Leads $8m Debt, Equity Funding Round for Zeepay to Expand Mobile Money Services in Africa
Investisseurs & Partenaires (I&P), a France-based investor in small and medium-sized enterprises (SMEs) in sub-Saharan Africa, recently led a funding round for Zeepay, a financial technology (fintech) company with offices in Ghana and the UK, to expand Zeepay’s digital wallet services to more countries in Africa. The funding round comprises USD 3 million in equity from I&P, USD 800,000 in equity from Ark Holdings, USD 800,000 in
MICROCAPITAL BRIEF: Oikocredit Providing $2.7m Loan, Technical Assistance to Fin’Elle to Support Women-owned SMEs in Côte d’Ivoire
The Netherlands-based cooperative Oikocredit recently lent EUR 2.3 million (USD 2.7 million) to Fin’Elle, a microfinance institution (MFI) that aims to empower female entrepreneurs in Côte d’Ivoire. Fin’Elle is a
MICROCAPITAL BRIEF: Fairbanc Raises Equity from Accion, ADB, East Ventures, Sampoerna Group to Boost Lending, Payment Systems for MSMEs in Indonesia
Fairbanc, a US-based lender and payment facilitator for micro-, small and medium-sized enterprises (MSMEs) in Indonesia, recently raised pre-Series A equity of
MICROFINANCE EVENT: Impact Investing World Forum; September 23-24, 2021; London, UK, with Virtual Option
The Impact Investing World Forum (IIWF) is focused on investments that are in line with concerns such as environmental, social and governance (ESG) criteria and the UN Sustainable Development Goals. The event will feature speakers from
MICROCAPITAL BRIEF: EBRD Boosts Loan Ceiling of Quds Bank to Support Cross-border Trade, MSMEs in West Bank, Gaza
Recently, the UK-based European Bank for Reconstruction and Development (EBRD) agreed to increase the credit line it has open for Quds Bank, a commercial bank operating in the West Bank and Gaza, by USD 10 million. Half of the new increment is for Quds Bank to use for
MICROCAPITAL BRIEF: FMO Announces $6m Loan for Microfinance Institution Sembrar Sartawi of Bolivia to Support Climate Resilience, Growth of Small-scale Farmers
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, recently announced a loan of USD 6 million to support Bolivia-based microfinance institution (MFI) Institución Financiera de Desarollo Sembrar Sartawi. The Dutch Fund for Climate and Development (DFCD), a private entity managed by FMO, will fund the facility, aiming to boost the “climate-resilient economic growth [of] vulnerable smallholder farmers” through
MICROCAPITAL BRIEF: IFC Approves $20m Loan to Agrofértil of Paraguay to Support Farming, Gender Equality Amid COVID-19 Downturn
The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to loan up to USD 20 million in working capital to Agrofértil, a company that provides credit, crop insurance, agricultural inputs and “agronomic services” to farmers and farmer cooperatives in Paraguay. Through the loan, which may be renewed yearly for five years, IFC aims to support Agrofértil in its work with farmers cultivating small and medium-sized plots including by endeavoring to “promote
MICROCAPITAL BRIEF: IFC, We-Fi Invest $2.5m in Flat6Labs to Support Entrepreneurship in Jordan
The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to invest USD 2 million in Flat6Labs Amman, a venture capital fund in Jordan, to support
SPECIAL REPORT: Online Event: Strengthening Cybersecurity to Boost Financial Inclusion in Africa; July 13, 2021
The 
53rd Midi de la Microfinance, held by Luxembourg-based NGO ADA Microfinance, will focus on cybersecurity as it relates to financial inclusion in Africa. This includes suggested “points of attention and concrete actions” microfinance institutions may use to minimize the risks associated with
MICROCAPITAL BRIEF: Incofin Loans $2m to Bina Artha for Microfinance, Small Business Loans for Rural Women in Indonesia
Recently, Belgium-based Incofin Investment Management (IM) lent USD 2 million from its Incofin CVSO fund to Bina Artha, a microfinance institution (MFI) in Indonesia. Incofin IM acknowledges that
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Disburses $10m to Microfinance Institutions for On-lending in Indonesia, Myanmar
The Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently announced it has disbursed loans in local currency to three microfinance institutions (MFIs) active in Indonesia and Myanmar. GCA Foundation loaned the
MICROFINANCE WRAP-UP: “Resilience: COVID-19 Crisis Through A Migration Lens;” Published by Global Knowledge Partnership on Migration and Development (KNOMAD)
This brief provides an overview of recent trends in migration and remittances globally. Overall, remittances to low- and middle-income countries (LMICs) remained relatively stable through the onset of the COVID-19 pandemic, decreasing from USD 548 billion in 2019 to USD 540 billion in 2020. Many countries used “counter-cyclical fiscal policy” to stimulate their economies, which
MICROCAPITAL BRIEF: EIB Lending CIH Bank of Morocco $73m to Support SMEs, Mid-caps in Adjusting to COVID-19 Pandemic
The European Investment Bank (EIB), an entity of the EU, recently agreed to loan EUR 60 million (USD 73 million) to Crédit Immobilier et Hôtelier (CIH) Bank, which is controlled by the
MICROCAPITAL BRIEF: Fintech Zeepay of Ghana, Dutch Government, SNV, UNCDF Partner on Financial Education, Remittances via EU-funded GrEEn Program
Zeepay, a financial technology (fintech) company with offices in Ghana and the UK, recently partnered with the embassy of the Netherlands in Ghana, the Dutch NGO Stichting Nederlandse Vrijwilligers (SNV) and the UN Capital Development Fund (UNCDF) as part of the EU-funded Boosting Green Employment and Enterprise Opportunities in Ghana (GrEEn) program. The goal is to serve “youth, women and
MICROFINANCE PAPER WRAP-UP: “Enabling Women’s Financial Inclusion Through Digital Financial Literacy,” by Catherine Highet, Published by FinEquity
In this paper, Catherine Highet evaluated the gender gap in digital financial literacy (DFL) and identified related enabling and constraining factors in various countries including Bangladesh, Cambodia and Ghana. The enabling factors include