Global Affairs Canada, an agency of the Canadian government, recently announced a contribution of CAD 100 million (USD 78 million) to the African Development Bank (AfDB), a multilateral institution that works to alleviate poverty in Africa, to support
Tag: SMEs
MICROCAPITAL BRIEF: Khan Bank Borrows $6m from MicroVest for SMEs in Mongolia
MicroVest, a debt-focused asset manager owned by US-based DAI Global, recently agreed to lend USD 6 million to Khan Bank, which serves individuals and companies of all sizes in Mongolia. The goal of the loan is to boost
MICROCAPITAL BRIEF: Major Development Funders Launch “Alliance for Entrepreneurship in Africa” to Support SMEs – Especially Those Run by Women, Youth
A group of organizations involved in international development recently launched the Alliance for Entrepreneurship in Africa (AforE) with the aim of supporting the growth of small and medium-sized enterprises (SMEs), particularly those owned or operated by youth and female entrepreneurs. The alliance seeks to
MICROCAPITAL BRIEF: Oikocredit Loans Ecoligo $5.7m to Fund Solar Energy for 15 SMEs, NGOs in Ghana, Kenya
Oikocredit, a Dutch cooperative investor, recently loaned EUR 5 million (USD 5.68 million) to Ecoligo, a German firm that provides solar-as-a-service solutions, to expand its operations in Ghana and Kenya. The loan is to finance solar energy equipment that will provide power to 15 clients, which will pay Ecoligo for the power on a monthly basis. Siebren Wilschut, an investment officer at Oikocredit, said,
MICROCAPITAL BRIEF: BOA Kenya Nets IFC Guarantee for Lending to Women-led, Climate-focused SMEs; Potential Performance-based Incentives
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced a partnership with Bank of Africa (BOA) Kenya to expand its lending to women-led and climate-focused small and medium-sized enterprises (SMEs). IFC will reimburse BOA Kenya for
MICROCAPITAL BRIEF: AEB Onlending $5.7m from EBRD, EU to SMEs in Armenia, Mostly for “Green” Investments
The European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution, recently agreed to lend EUR 5 million (USD 5.7 million) to Armeconombank (AEB), an Armenian bank. The purpose is to finance small and medium-sized enterprises (SMEs) in acquiring technology that will upgrade employees’ working conditions, boost competitiveness and increase exports – including by reaching EU standards. AEB has agreed to direct at least 70 percent of the loan proceeds to
MICROCAPITAL BRIEF: Cenfri, Cornerstone, GLEIF, London Stock Exchange Collaborate on Legal Entity Identifiers (LEIs) to Boost Financial Inclusion of SMEs in Africa
Four organizations recently launched an effort to equip small and medium-sized enterprises (SMEs) in Africa with Legal Entity Identifiers (LEIs), which are 20-digit codes linked to “business card and ownership structure information about a legal entity which can be verified quickly and efficiently by anyone, anywhere, enabling organizations to know precisely with whom they are doing business.” The participating entities are
MICROCAPITAL BRIEF: Citi, DFC Announce $15m Local-currency Loan to CAME of Mexico to Boost Financial Inclusion of 40,000 SMEs
Consejo de Asistencia al Microemprendedor (CAME), a Mexican microfinance institution, recently agreed to borrow MXN 300 million (USD 15 million) through a partnership between US-based bank Citi and the government-backed US International Development Finance Corporation (DFC). The proceeds of the term loan are to be
MICROCAPITAL BRIEF: IFC, FMO Loaning $50m to I&M Bank to Support SMEs in Kenya
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, along with Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, recently announced a loan package of USD 50 million for I&M Bank Limited, which is owned by the Kenya-based I&M Group. The funds are intended to
MICROCAPITAL BRIEF: IDB Invest Lends $15m in Local Currency to CAME of Mexico to Promote Financial Inclusion of SMEs, Companies led by Women
Consejo de Asistencia al Microemprendedor (CAME), a Mexican microfinance institution, recently secured a four-year loan of MXN 300 million (USD 15 million) from IDB Invest, a member of the Inter-American Development Bank (IDB) Group. CAME’s services include deposits, loans, payments and insurance for microentrepreneurs as well as small and medium-sized enterprises (SMEs). Its loan products include
MICROCAPITAL BRIEF: Commercial Bank of Ceylon (ComBank) Secures $50m Loan from CDC Group to Promote SME Lending, Climate Projects in Sri Lanka
The CDC Group, a UK-backed development finance institution formerly known as the Colonial Development Corporation, recently agreed to lend USD 50 million to the Commercial Bank of Ceylon (ComBank) to fund loans to small and medium-sized enterprises (SMEs) as well as climate projects that “support Sri Lanka’s commitment to the Paris Agreement.” Sri Lanka’s goals related to climate change include
MICROCAPITAL BRIEF: IFC Lends $12m to Garanti BBVA Leasing Romania for Microenterprises, SMEs, Including Women-owned Enterprises
The International Finance Corporation (IFC), a member of the World Bank Group, recently loaned EUR 10 million (USD 12 million) to Garanti BBVA Leasing Romania, which is controlled by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA). The investment is intended to support microenterprises as well as
MICROFINANCE PAPER WRAP-UP: “SME Finance Loans for Growth,” Published by Symbiotics
This paper offers an analysis of the impact of the SME Finance Loans For Growth (LFG) fund from its launch in 2016 through 2020. LFG is a collaboration of three Swiss organizations, the Symbiotics Group, the State Secretariat for Economic Affairs (SECO) and
MICROCAPITAL BRIEF: EIB Lending Banca Intesa Beograd of Serbia $47m for SMEs, Mid-Caps Adjusting to COVID-19 Pandemic
Recently, the European Investment Bank (EIB), an entity of the EU, extended a credit line of EUR 40 million (USD 47 million) to Banca Intesa Beograd (BIB) in an effort to boost the Serbian economy in response to the downturn caused by the COVID-19 pandemic. The funds are for on-lending to small and medium-sized enterprises (SMEs) and mid-caps to support operations, job retention and
MICROCAPITAL BRIEF: EBRD Loans $2.4m to ProCredit Bank Bosnia and Herzegovina for Energy Efficiency, Homeowners Eligible for EU Grants
The UK-based European Bank for Reconstruction and Development (EBRD) recently announced it is lending EUR 2 million (USD 2.37 million) to ProCredit Bank Bosnia and Herzegovina (PCB BiH) to on-lend for residential “investments in insulation, windows, heat pumps, solar panels and other improvements” that reduce energy usage. PCB BiH is a member of Germany’s ProCredit Holding, whose members provide
MICROCAPITAL BRIEF: Arcadia Funds, Kayyak Ventures Lead $82m Credit, Equity Package for Marco, Financier of SME Exports from Latin America to US
US-based Arcadia Funds and Chile-based Kayyak Ventures recently led a funding package totaling USD 82 million in favor of Marco, a US-based company that funds exports to the US from small and medium-sized enterprises (SMEs) in Latin America. Twelve other investors also participated in the package, which consists of a
MICROCAPITAL BRIEF: EIB Lending Jordan Kuwait Bank $119m for SMEs Adjusting to COVID-19 Pandemic
Recently, the European Investment Bank (EIB), an entity of the EU, extended a credit line of EUR 100 million (USD 119 million) to Jordan Kuwait Bank in an effort to boost the Jordanian economy in response to the downturn caused by the COVID-19 pandemic. The funds are to be used for
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