Ualá, a financial technology (fintech) firm based in Argentina, recently unveiled a savings account in Mexico that promises a one-year yield of 9 percent. With the annualized inflation rate in Mexico at 6 percent during May,
Tag: Argentina
MICROCAPITAL BRIEF: Asociación de Cooperativas Argentinas (ACA) Borrows $80m from FMO, FinDev Canada, Rabobank to Boost Exports of Produce from 50,000 Farms in Argentina
Asociación de Cooperativas Argentinas (ACA), a network of 143 agricultural cooperatives in Argentina, recently borrowed USD 80 million from three institutions, led by the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO). FMO is lending ACA half of the total, and
MICROCAPITAL BRIEF: Catalyst Fund to Incubate 6 “Inclusive” Fintechs Serving Africa, Latin America
Catalyst Fund, an initiative of the US-based firm BFA (Bankable Frontier Associates) Global, recently announced the tenth cohort of financial technology (fintech) companies that it will support in their efforts to serve more “underserved and climate-vulnerable communities in emerging markets.” Four of the companies are based in
MICROCAPITAL BRIEF: IDB Invest to Help Comafi of Argentina Manage Environmental, Social Risks; Deploy $20m to SMEs for Equipment Upgrades
IDB Invest, a member of the US-based Inter-American Development Bank (IDB) Group, recently loaned USD 20 million to Argentina’s Banco Comafi to invest in small and medium-sized enterprises (SMEs) via leasing services and asset financing. In particular, the intent is to enable access to equipment that is more efficient or otherwise employs better technology. The wholesale loan has a period of up to three years and is renewable for an additional three years. Meanwhile, IDB Invest will
MICROCAPITAL BRIEF: FIE NGO of Bolivia Buys Back Equity Stake in Its Spanish Subsidiary CONFIE from Impact Investor Bamboo Capital
Bamboo Capital Partners, a Luxembourg-based impact fund manager, recently announced its exit from Spain-based Corporación para el Fomento a Iniciativas Económicas (CONFIE), whose holdings include Banco FIE, a microfinance institution in Bolivia. Bolivia-based Fomento a Iniciativas Económ
MICROCAPITAL BRIEF: FMO, PROPARCO Loan $80m to Banco Supervielle of Argentina for SMEs
The Dutch development bank, which is known by the acronym FMO, recently assembled a loan of USD 80 million for Banco Supervielle, a bank in Argentina, to finance small and medium-sized enterprises (SMEs) amid the recession in Argentina. The loan is funded in equal parts by