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Does Microlending Really Help the Poor?
July, 29 2009
London, United Kingdom - There are few real miracles in this world, but microfinance is meant to be one. It is banking for the poor in the developing world
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Advans SA SICAR launches Advans Banque Congo
July, 29 2009
Paris, France - Advans SA, the international venture capital company specialised in microfinance, announces the
launch of its fourth microfinance institution: Advans Banque Congo, in the Democratic Republic of theCongo. The first branch opened on Friday 24th July 2009 in La Gombe, Kinshasa
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A billion Euros Shifts Back into SRI Funds as Markets Rise
July, 28 2009
London, United Kingdom - Over a billion euros (€1,068.3m) shifted back into European SRI funds during May as equity markets rose, according to the latest available figures compiled for Responsible Investor by Lipper Feri, the investment data group.
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Nigeria: CBN to Sanction Erring Directors of Microfinance, Mortgage Banks
July, 27 2009
Nigeria - Worried by the increasing wave of insider abuses and falsification of documents by directors of microfinance banks (MFBs) and primary mortgage institutions (PMIs), the Central Bank of Nigeria (CBN) has threatened to sanction directors of these institutions with outright sack and prosecution
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New Partnership Jumpstarts Development in Sierra Leone and Liberia
July, 22 2009
New York, United States - BRAC is leading a $15 million initiative to rebuild war-torn communities in West Africa, four organizations supporting the effort announced today.The Soros Economic Development Fund, Open Society Initiative for West Africa, Omidyar Network, and Humanity United are funding this groundbreaking initiative to support families and prevent renewed conflict.
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Mexican Microfinance Bank Compartamos Posts 31% Rise in Net Profit
July, 22 2009
Mexico City, Mexico - Banco Compartamos, the Mexican microfinance bank, on Tuesday announced its second quarter results which show net profit rose 31.3% totaling 327 million pesos ($24.7 million), up from 249 million pesos recorded in the corresponding quarter of 2008, in a statement filed with the Mexican Stock Exchange
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Kyrgyz Microfinance Sector Mushrooms
July, 22 2009
Kyrgyzstan - The microfinance industry in the Kyrgyz Republic has undergone tremendous changes over the last decade. Many companies have joined the industry, both local and foreign. In 1995, there was one microfinance organization, FINCA; in 1997, Kyrgyz Village Finance Corporation opened - which was later reorganized into Ayil (Village) Bank; and today, the market is liberally littered with 233 microfinance organisations. Gradually, the market has moved from monopoly to oligopoly to free-market competition.
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India: Surge in Equity Revives Cash Flow to Micro-Finance Funds
July, 21 2009
India - In a clear sign of recovery, India-focussed micro-finance funds are beginning to see robust fund flows this year, following an improvement in global equity markets and the Union budget emphasis on rural development. The investment cycles of micro-finance funds had turned longer last year due to the global credit crisis
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Microfinance is not just about Loans
July, 21 2009
Washington D.C., United States - To most people, microfinance means microcredit, or lending to the owners of very small businesses in the developing world. In recent years, though, efforts to extend a wider range of financial services to reach the nearly three-quarters of the world's population with per-capita incomes below $3,000 -- the so-called "base of the pyramid" -- have gained significant traction
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Compartamos Banco Issues Long Term Debt
July, 20 2009
Mexico city, Mexico - Banco Compartamos informs that it has obtained Ps. $500 million (USD 37.6 ml.) through the public issuance of Local Bank Bonds ('Certificados Bursatiles Bancarios') in the local debt capital markets for a tenor of 3 years at an interest rate of TIIE plus 200 basis points, in line with Compartamos' interest rate expectations.
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Pakistan: Credit Guarantee Facility Guidelines Amended
July, 17 2009
Karachi, Pakistan - The State Bank of Pakistan has introduced amended microfinance credit guarantee facility guidelines to make the provisions more flexible for commercial banks and development financial institutions to provide whole-sale funds to eligible microfinance banks and institutions
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A Partial Marvel
July, 16 2009
London, United Kingdom - Microcredit may not work wonders but it does help the entrepreneurial poor
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Latest Microfinance Institutional Trend Data Now Available In MicroBanking Bulletin
July, 15 2009
Washington, United States - The Microfinance Information Exchange, Inc. (MIX) announced the release of the latest issue of The MicroBanking Bulletin. Issue 18 of the MBB focuses on the impact of the global economic crisis on microfinance institutions and their clients, with benchmark trend lines from MFIs (microfinance institutions) from 2005 - 2007, a robust data set that covers performance and financial data on 487 MFIs in 78 countries.
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Cambodia: MFIs See Lending Growth Dip
July, 13 2009
Phnom Penh, Cambodia - Economic crisis halts lending expansion and causes NPL rates to escalate, say MFIs, with little progress expected by year's end.
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Sri Lanka Turns to Microfinance to Rebuild War Zone
July, 13 2009
Colombo, Sri Lanka - Sri Lanka's government on Monday launched a $26 million microfinance loan programme to spur local agriculture and business in the former northern war zone, part of the president's plan to resettle 300,000 displaced people
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India’s New Retailers
July, 11 2009
India - Microfinance institutions are going beyond financial products to sell phones, fridges and more. Everyone gains: rural consumers, rural sellers, companies and MFIs
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The Next Banking Revolution
July, 09 2009
Washington, Unites States - The world is in the midst of a banking revolution that has nothing to do with exotic financial engineering. It's in microfinance, or the provision of financial services to poor people worldwide.
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Economic Crisis Presents Microfinance with Stress Test
July, 09 2009
United States - The resilience of the global microfinance industry will be put to the test by the economic crisis, according to a new survey of the risks to the business, Microfinance Banana Skins 2009. Far from being insulated from the economic mainstream as traditionally thought, microfinance could face a fall in growth and funding because of the global recession and declining investor confidence
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MFX Solutions Launches Service to Reduce Microfinance Currency Risk
July, 07 2009
Washington, United States - MFX Solutions Inc. (MFX), a new company dedicated to managing global currency risk in the microfinance industry, today announced the launch of its operations. MFX will, for the first time, be making modern hedging instruments accessible to microfinance lenders in developing markets where they need it most. MFX has secured $13 million from 17 investors in its first round of financing, with Omidyar Network providing a commitment of $9.3 million
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Philippines: Micro-finance Sector Issues P161 Billion (3.3 USD billion) in Loans to Boost Job Creation
July, 06 2009
Manilia, Philippines - Heeding President Gloria Macapagal-Arroyo's call in 2004 for more aggressive micro-finance lending nationwide, the government, in partnership with private micro-finance institutions, had extended more than P161 billion in loans to some 5.8 million Filipino micro-finance clients and entrepreneurs from July 2004 to April this year, the National Anti-Poverty Commission (NAPC) revealed
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