The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, recently partnered with Raiffeisen Bank Albania on a risk-sharing facility of EUR 50 million (USD 59.2 million). This will allow Raiffeisen Bank Albania to increase its
MICROCAPITAL BRIEF: FMO Loans $15m to PGMF of Myanmar for Microcredit, COVID-19 Relief
The Netherlands Development Finance Company, a public-private partnership also known by its Dutch acronym FMO, recently disbursed a five-year loan of USD 15 million to Pact Global Microfinance Fund (PGMF), a microfinance institution in Myanmar. The goal is to support microenterprises facing escalating income inequality due to the COVID-19 pandemic. The organization’s “commitment to invest in business with women
MICROCAPITAL BRIEF: Symbiotics Launches $6.7m Bond for Samunnati, Provider of Microfinance, Market Access, Technology to Agricultural Sector in India
Symbiotics, a Switzerland-based investment company, recently launched a bond issue intended to raise INR 500 million (USD 6.75 million) for Samunnati Financial Intermediation & Services Private Limited, a for-profit non-banking financial company in India. The proceeds will flow
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: Central Bank of Sri Lanka Plans Mergers of Weaker, Stronger NBFIs; Cutting Number in Half
The Central Bank of Sri Lanka (CBSL) reportedly is working on a plan to merge multiple “ailing” non-banking financial institutions (NBFIs) in the country with “financially stable” firms, given that “nearly half of the sector face[s] severe liquidity issues.” Central Bank Governor W D Lakshman reportedly stated,
MICROCAPITAL BRIEF: SEAF Invests Equity in CloudCfo, Provider of Business Services to SMEs in the Philippines, via Women’s Opportunity Fund
The Small Enterprise Assistance Fund (SEAF), a US-based “impact investing” fund manager, recently announced its disbursement of an undisclosed amount of capital to Philippines-based startup CloudCfo. The firm will use the proceeds to boost its growth across its online accounting, bookkeeping and
MICROCAPITAL BRIEF: Incofin Loans $3m to Cooperativa Pacifico for Microfinance in Peru
Belgium-based Incofin Investment Management (IM) recently disbursed a loan of USD 3 million from one of its funds, Incofin CVSO, to Cooperativa Pacifico to allow the Peruvian microfinance institution to expand
MICROFINANCE EVENT: Finovate Europe; March 23-25, 2021; Virtual – NEW DATES AND FORMAT
Originally scheduled to take place in Berlin, Germany, in February 2021, this conference offers demo sessions; discussions on topics such as “A Hybrid Digital Customer Experience” and
MICROCAPITAL BRIEF: National Bank of Ethiopia Permitting MFIs to Transform into Banks, Banks to Borrow from Foreign Financial Institutions
The National Bank of Ethiopia (NBE), the country’s central bank, recently announced it has passed directives allowing the following: (1) microfinance institutions to transform into banks; and
MICROCAPITAL BRIEF: Incofin Loans Inecobank of Armenia $6m from Microfinance Enhancement Facility (MEF) to Offset Effects of COVID-19 via Mobile Banking
Belgium-based Incofin Investment Management (IM) recently disbursed a loan of USD 6 million to Inecobank, an Armenia-based institution, from the Microfinance Enhancement Facility (MEF), a fund launched by the German government’s KfW Entwicklungsbank and the World Bank Group’s International Finance Corporation. The proceeds will enable Inecobank to increase its lending during the COVID-19 pandemic. Since March, due to the pandemic, the bank moved all of its
MEDIA OF THE MONTH: “Post COVID-19: Will Physical Cash Exist in 10 years?”, London Institute of Banking and Finance
We are pleased to suggest this fun conversation between Dean Maria Carapeto and Visiting Scholar Jonathan Holman of the London Institute of Banking & Finance on the topic of “financial inclusion, developing economies, digital and more”!
This post is part of a monthly series from MicroCapital pointing you to great media on microfinance and other forms of impact investing. Enjoy!
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.
MICROFINANCE PAPER WRAP-UP: “Gendered Social Norms in Financial Inclusion: A Diagnostic Study from Southeastern Turkey,” by Adriano Scarampi et al, published by CGAP
Through this qualitative study on how social norms impact women’s “access to and use of financial services,” the authors explored potential interventions for promoting women’s financial inclusion. They interviewed 93 members of southeastern Turkey’s Arab population. This community was selected because Turkey’s financial-inclusion gender gap closely resembles that of the Middle East and North Africa (MENA) region as a whole, and the country holds other geographical and cultural similarities to the Arab world, therefore increasing
MICROCAPITAL BRIEF: Banque Nationale de Crédit Lending $890k to Microfinance Institution FINCA Haiti to Support Microentrepreneurs, Small Businesses
FINCA Haiti, a microfinance institution owned by US-based FINCA Impact Finance, recently opened a credit line of HTG 100 million (USD 892,000) from Banque Nationale de Crédit, a bank in Haiti. According to FINCA Impact Finance, “This is the first locally-sourced credit line
MICROFINANCE PAPER WRAP-UP: “Women’s Access to Cash Transfers in Light of COVID-19;” by Shelby Bourgault, Megan O’Donnell; published by Centre for Global Development
This paper analyzes the efficacy of various cash-transfer programs created by the Pakistani government and their ability to reach low-income women and promote economic gender equality. Prior to the COVID-19 pandemic, the Pakistani-government was in the process of building out multiple cash transfer schemes targeted at women, including the Kafaalat program which seeks to promote economic empowerment by helping women access bank accounts, digital payments, mobile phones and
MICROCAPITAL BRIEF: MoneyGram International, Airtel Africa to Offer Mobile Remittances
MoneyGram International, a US-based money-transfer company serving 200 countries, is partnering with Airtel Africa, a subsidiary of India-based telecommunications firm Bharti Airtel, to allow 19 million users of the Airtel Money service in 12 countries to receive MoneyGram remittances directly into their mobile wallets. These funds then can be withdrawn at Airtel Africa service locations
MICROCAPITAL BRIEF: Maha Agriculture Borrows $6m from FMO for Digital Microfinance in Myanmar
The Netherlands Development Finance Company, which also is known by its Dutch acronym FMO, recently disbursed a loan of USD 6 million to Myanmar-based microfinance institution (MFI) Maha Agriculture Public Company Limited to be on-lent as microloans in rural Myanmar. The goal of the loan is to support small-scale farmers
MICROCAPITAL BRIEF: DMA, UNCDF to Connect Farmers in Tanzania with Agricultural Inputs, Buyers, Digital Financial Services
Through a performance-based contract, the UN Capital Development Fund (UNCDF) is funding Tanzania-based Digital Mobile Africa (DMA), to offer farmers in the Kigoma region of Tanzania online access to agricultural input retailers, crop buyers and financial services providers. DMA’s online portal is integrated with multiple mobile network operators (MNOs) and offers financial services under the license of the Tanzanian Postal Bank. These financial services include
MICROCAPITAL BRIEF: EFSE Lending $2.4m to BT Leasing MD to Support MSEs in Moldova During Coronavirus Pandemic
The European Fund for Southeast Europe (EFSE), a microfinance investment vehicle domiciled in Luxembourg, recently agreed to loan EUR 2 million (USD 2.4 million) to Banca Transilvania (BT) Leasing MD, a Moldovan entity controlled by Romania’s BT, to finance micro- and small enterprises (MSEs) that need