by Sheen Gupta -

MICROCAPITAL BRIEF: Satisfied Producer of Palm Oil in DRC Has Been “Brought Back from the Brink,” DFIs Sell Debt Holdings in PHC to Maku; Funding to Improve Community Relationships Will Continue

Four European development finance institutions (DFIs) recently sold their debt holdings in Plantations et Huileries du Congo (PHC), a palm oil business in Democratic Republic of the Congo, to Maku Holdings, an affiliate of Kuramo Capital Management, which has offices in Kenya, Nigeria and the US. The DFIs are

by Sheen Gupta -

MICROCAPITAL BRIEF: Banco Santander, DEG, IDB Invest, Itaú BBA Loan $150m to Banco Pan to Boost Digital Financing of Vehicles, Microenterprise, Consumption in Brazil

IDB Invest, a member of the US-based Inter-American Development Bank (IDB) Group, is leading a loan package totaling USD 150 million for Banco Pan SA, a Brazilian commercial bank, with the aim of increasing access to digital financial services for people with low incomes. The loan funding includes USD 50 million from IDB Invest, USD 25 million from Germany’s Deutsche Investitions-und Entwicklungsgesellschaft (DEG), and USD 75 million as a B loan funded in unspecified portions by Spain’s Banco Santander and Brazil’s Itaú BBA. Banco Pan plans to use the funding,