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Jul 2006
Allianz and CARE partner for micro-insurance in India
July, 31 2006
Munich, London - The launch of an insurance package offers safety nets for tsunami victims in southern India ...
Joint Statement on 2004 Microenterprise Law
July, 31 2006
- Law Governing USAID Funding for Microfinance Projects Set to Take Effect October 200 ...
The Asian Development Bank explains the “why” of high interest rates
July, 28 2006
- Nimal A. Fernando, of the ADB, wrote a paper describing the reasons of high interest rates ...
CGAP Invites Applications for the 2006 Financial Transparency Award
July, 26 2006
- CGAP is now accepting applications for the Third Annual CGAP Financial Transparency Award from microfinance providers. The CGAP Financial Transparency Award promotes good practice MFI financial disclosure and stimulates improvements in annual financial reporting ...
ADB - Understanding and Dealing with High Interest Rates on Microcredit
July, 25 2006
Mandaluyong City, Philippines - A Note to Policy Makers in the Asia and Pacific Regio ...
Gray Ghost Purchases IDB and Norfund shares in LACIF
July, 21 2006
- The Gray Ghost Microfinance fund is announcing the purchase of all shares held by the Inter-American Development Bank (IDB) and the Norwegian Investment Fund for Developing Countries (Norfund) in the Latin American Challenge Investment Fund (LACIF) ...
IFC Lends $29 million to Star-performer MIBANCO of Peru
July, 21 2006
- Banco de la Microempresas S.A., or MIBANCO, will be receiving a long term loan up to $29 million from The International Finance Corporation (IFC) ...
International Finance Corporation Makes $5 Million Debt Investment in a Nicaraguan Microfinance Institution
July, 20 2006
- “…The two-part financing – a senior loan of $2 million and a subordinated convertible loan of $3 million – will aid FINDESA’s transformation to a commercial bank. ...
Iraqi Economy : Microfinance program expected to generate employment in Iraq
July, 18 2006
- One of the Iraqi microfinance institutions established with the support of the U.S. Agency for International Development (USAID)-funded IZDIHAR project recently signed an agreement with the U.S. Military which will provide the funding necessary to cover initial operating expenses until revenue generated from the microfinance business will enable it to fully cover its own costs ...
International Finance Corporation & International Development Association Establish $25 Million Loan Facility with Société Générale & Credit Lyonnais for Microfinance Investment in Madagascar
July, 17 2006
- The World Bank’s International Finance Corporation (IFC) and International Development Association (IDA) will assume half the portfolio risk in a USD $25 million deal with the local arms of two French banks, Société Générale and Credit Lyonnais, to provide loans to small and medium size enterprises in Madagascar. The IFC will guarantee $6 million while the Government of Madagascar will guarantee the remaining $6.5 million, which it will receive in loans from the IDA ...
Gray Ghost Purchases IBD and Norfund shares in LACIF, marking maturation of the market for microfinance asset
July, 14 2006
Atlanta, USA - The Gray Ghost Microfinance fund today announced the purchase of all shares held by the Inter-American Development Bank (IDB) and the Norwegian Investment Fund for Developing Countries (Norfund) in the Latin American Challenge Investment Fund (LACIF) ...
ICICI-FINO to play big brother to MFIs
July, 14 2006
India - ICICI Bank is now incubating Financial Information Network & Operations (FINO), a technology backbone company for grassroots financial entities such as micro-finance institutions (MFIs) serving people with no banking facility. It has earlier done the same for rating agency Crisil and commodities exchange Ncdex ...
Russian Microfinance Center and the global information portal - the MIX Market are pleased to announce the beginning of the third stage in the project “Benchmarking for Russian MFIs”.
July, 12 2006
Russia - Russian Microfinance Center and the global information portal - the MIX Market (www.themix.org) are pleased to announce the beginning of the third stage in the project “Benchmarking for Russian MFIs”. The MIX is the only organization nowadays specializing in providing comparative analyses of MFIS performance all over the world ...
IFC Invests in FINDESA, a Growing Microfinance Institution in Nicaragua
July, 12 2006
Managua, Nicaragua - The International Finance Corporation, the private sector arm of the World Bank Group, has signed an agreement to provide $5 million in loans to Financiera Nicaragüense de Desarrollo S.A, one of Central America's leading regulated microfinance institutions. IFC will also provide technical assistance ...
ACCION Launches Equity Fund for Investment in Microfinance Infrastructure
July, 11 2006
Boston, Massachusetts - Unique Fund Seeks to Address Technology Gaps in Microfinance, Accelerating Industry Growt ...
BRAC Launches World's First Micro-credit Securitisation
July, 06 2006
Bangladesh - BRAC, the world’s largest national NGOs with over 5mm borrowers and 100,000 employees, has closed World’s first micro-credit securitisation structured by RSA Capital, Citigroup, FMO and KfW ...
Mennonites back life-changing Brazilian micro credit scheme
July, 06 2006
Brazil - FRAME, which in Portuguese stands for Rotating Fund for Micro-Entrepreneurs, includes four funds which have aided some 950 families since the programme began in 1997. Each fund operates through community groups or associations, including some within churches. The association is responsible for making sure each member is able to repay his or her loan. Mennonite Central Committee is a key partner in the venture ...
BRAC launches micro-credit securitisation
July, 06 2006
- BRAC, a local NGO, yesterday launched the world’s first micro-credit securitisation programme structured by RSA Capital, Citigroup, the Netherlands Development Finance Company (FMO) and KfW of Germany ...
Company Receives First AAA Bond Rating In Bangladesh
July, 06 2006
Dhaka, Bangladesh - An innovative AAA rated bond for Bangladesh Rural Advancement Committee (BRAC) Special Purpose Vehicle (SPV), with Citigroup as one of the partners, will help Bangladesh Microfinance Institutions (MFIs) open a new channel of financing in the country ...

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