BizCapital, a Brazilian provider of digital loans to small and medium-sized enterprises (SMEs), recently raised USD 15 million during its Series B fundraising round. The investors include Brazil-based 42K Investimentos, Brazil’s Chromo Invest, Germany-based Deutsche Investitions- und Entwicklungsgesellschaft (DEG),
MICROCAPITAL BRIEF: Deposit Insurance Agency of Bosnia and Herzegovina Renews Credit Line from EBRD with 40% Lower Ceiling
The UK-based European Bank for Reconstruction and Development (EBRD) recently agreed to provide a “standby credit line” in the amount of EUR 30 million (USD 35.2 million) to Bosnia and Herzegovina’s Deposit Insurance Agency (DIA) to help it
MICROCAPITAL BRIEF: Hatton National Bank Borrows $60m from PROPARCO for SMEs in Sri Lanka
Hatton National Bank (HNB), a Sri Lanka-based financial institution, recently agreed to borrow USD 60 million from Promotion et Participation pour la Coopération Économique (PROPARCO),
MICROFINANCE PAPER WRAP UP: “Impact of COVID-19 Pandemic on the Microfinance Sector in Europe: Field Analysis and Policy Recommendations;” by Kinga Dabrowska, Pitor Korynski, Justyna Pytkowska
Based on data collected from 22 European microfinance institutions and industry associations, the authors describe the effects of the COVID-19 pandemic in terms of:
MICROCAPITAL BRIEF: KfW, BMZ Investing $47m in Farmers, Processors in Africa, Latin America via Debt Fund Managed by Incofin: Agri-Finance Liquidity Facility
The German Federal Ministry for Economic Cooperation and Development, which is also known by its German acronym BMZ, recently launched the Agri-Finance Liquidity Facility (ALF), a debt facility of EUR 40 million (USD 46.7 million), to support the “sustainable agri-food value chain” in
SPECIAL REPORT: Student Lending for Tertiary Education: Omtrix Offers Lessons Learned from 10 Years of HEFF
The 
The Higher Education Finance Fund (HEFF) was implemented in seven Latin American countries with the objective of improving access to tertiary education for motivated yet socially disadvantaged young people. It was promoted by Omtrix, Inc., a consulting and fund management company based in Costa Rica. HEFF’s equity investors were the German development bank KfW, the Norwegian Investment Fund for Developing Countries (Norfund), the Swiss Investment Fund for Emerging Markets, the Luxembourg Finance and Development Fund, Corporación Andina de Fomento, Omtrix and the Calvert Social Investment Foundation.
HEFF was premised on the idea that student loans are an intrinsically viable product for financial institutions (FIs) with social objectives. The experience of HEFF confirmed the validity of this notion, provided that
MICROCAPITAL BRIEF: Canada’s Desjardins Group Launches Aequitas Fund with $38m to Advance UN Sustainable Development Goals Including Gender Equity, Climate Change Readiness
The Canadian cooperative Desjardins Group recently invested CAD 50 million (USD 37.9 million) to create the Aequitas fund, a private investment fund aimed at achieving gender equality, advancing climate change solutions and meeting other UN Sustainable Development Goals (SDGs). The fund will promote financial inclusion through provision of
SPECIAL REPORT: 40+ Reasons to Attend European Microfinance Week Online This Month
MicroCapital
: European Microfinance Week 2020 (EMW2020) – like so many events nowadays – is going virtual. How will this change the conference? What will the experience be like for attendees?
Christoph Pausch: EMW2020 remains – like in all years – a member-led conference, with the agenda constructed around what members indicate they find most important each year. So that hasn’t changed at all. But there will be clear differences, of course. There still will be a diverse range of sessions over three days (even more than usual in fact, with close to 50 events on the programme). But going online dictates that we be imaginative and innovative in the format and presentation of those sessions. Attendees will experience a huge range of event types – big plenaries and traditional panel discussions, but also fireside chats, keynotes, case study presentations, working sessions, topic lounges and publication launches, including of
MICROCAPITAL BRIEF: Edgar Martinez Named CEO of VisionFund International, Provider of Microfinance in 28 Countries
In January 2021, Edgar Martinez will take the positions of President and CEO at VisionFund International (VFI). The organization, which is owned by US-based NGO World Vision, provides microfinance services
MICROCAPITAL EVENT: World Finance Conference; August 3-6, 2021; NOW VIRTUAL
Originally planned as an in-person event at the University of Agder, Kristiansand, Norway, this online program will cover the following themes: Sustainable Finance, Investments, Corporate Governance and Accounting. The papers that have been accepted for presentation cover
MICROCAPITAL BRIEF: Fintechs E9pay, Nium Offer Personal, B2B Money Transfers Between South Korea, Europe, India, Indonesia, US
Nium, a Singapore-based financial technology (fintech) infrastructure platform, recently partnered with E9pay, a digital remittance provider in South Korea, to allow E9pay clients to send remittances to and from India, Indonesia, the US, and other markets, including in Europe. These clients include
MICROCAPITAL BRIEF: Eco-Business Fund, IFC to Loan $40m to Banco Agromercantil (BAM) to Help MSMEs in Guatemala Manage COVID-19 Pandemic
The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to lend Banco Agromercantil (BAM), a subsidiary of Colombia-based Grupo Bancolombia, USD 20 million, thus mobilizing an equal amount from the Eco-Business Fund, which is domiciled in Luxembourg. BAM is to use the liquidity to support
MICROCAPITAL BRIEF: 10 Fintech Startups in Zambia Join FinTech4U Accelerator from BongoHive, UNCDF
The UN Capital Development Fund (UNCDF) and BongoHive, a Zambia-based provider of technology consulting, co-working space and other support to entrepreneurs, recently selected 10 financial technology (fintech) startups for the second iteration of the FinTech4U Accelerator Programme. “For the Fintechs, joining the programme is an opportunity that
MICROCAPITAL BRIEF: First Affirmative Financial Network (FAFN) Purchased by Its Employees as Goldman Sachs Acquires Folio
First Affirmative Financial Network (FAFN), a US-based investment advisory company, recently became an employee-owned firm after having been acquired in 2016 by Folio Financial, a US-based brokerage, custodial services and financial technology company. The move comes as Folio Financial is being
MICROCAPITAL BRIEF: EBRD, IFC Lend Alternatif Bank $50m to Sustain SMEs in Turkey During COVID-19 Pandemic
The UK-based European Bank for Reconstruction and Development (EBRD) and the World Bank Group’s International Finance Corporation (IFC) each are lending USD 25 million to Alternatif Bank,
MICROCAPITAL BRIEF: Haqdarshak Targets MSMEs, Employees with Fee-based Service for Potential Recipients of Government Services in India
Haqdarshak Empowerment Solutions, a for-profit service that helps people in India access 254 government and private programs, recently expanded its focus on community organizations and larger businesses to include micro-, small and medium-sized enterprises (MSMEs). The firm works with these partner organizations to reach
MICROCAPITAL BRIEF: ADA Microfinance Launching 10-year “Smallholder Safety Net” Program Targeting Agricultural Value Chains, 3m Households; Partnering with 5 Impact Investors
ADA Microfinance, a Luxembourg-based NGO, recently announced a new program called the Smallholder Safety Net Upscaling Programme (SSNUP) to assist: (1) smallholder farmers in accessing insurance and implementing agricultural practices that increase productivity in a “climate-smart” manner; (2) actors in agricultural value chains in adopting “more sustainable environmental and social business practices;” and (3) boosting investment in agricultural value chains. The investors Grameen Credit Agricole Foundation, Incofin, Oikocredit, responsAbility and Symbiotics have agreed to participate by
MICROFINANCE EVENT: 17th Annual Global Microfinance Forum; April 22-23, 2021; NOW VIRTUAL
Originally planned to take place in person in Prague, this virtual event is centered on helping actors in the microfinance industry to prosper in the context of future economic and regulatory environments. Session topics include repayment suspensions due to the COVID-19 pandemic,