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Jun 2010
G20 Identifies Nine Principles for Innovative Financial Inclusion, Action Plan Expected in November
June, 28 2010
Washington, D.C. - The G20 Leadership Summit in Toronto this past weekend highlighted the importance of the work being done by the G20’s Financial Inclusion Experts Group (FIEG). The group released nine “Principles for Innovative Financial Inclusion” formed through the efforts of the Access through Innovation Sub-Group (ATISG). ...
India: Growing Interest of Private Equity in Microfinance Institutions
June, 26 2010
New Dehli, India - Microfinance Institutions (MFIs) have emerged as an investment hot spot for Private Equity (PE) due to its rapid growth and high returns, growing at a Compound Annual Growth Rate (CAGR) of 105 per cent in the last five years ...
In Microfinance, a ‘Dot-Com’ Boom?
June, 24 2010
New Dehli, India - With hundreds of fledgling entrepreneurs ready to change the world and maybe make millions while they do it, the buzz around the microfinance industry looks a bit like the dot-com boom at the end of the ’90s ...
Microfinance: Risky and Expensive
June, 23 2010
New Dehli, India - Private equity investments have put a premium on the valuation of microfinance companies when maybe they should be giving them a discount. Yes, the tiny-loan business is booming, but it is much riskier than the low default rates of the business would suggest, said Avnish Bajaj, managing director of Matrix Partners India which has an investment in one of India’s largest microfinance institutions ...
India: Experts Say MFI Sector Is Undervalued
June, 23 2010
New Dehli, India - Microfinance institutions (MFIs) are not getting proper valuations from investors though their business models are similar to banks and NBFCs, Padmaja Reddy, managing director, Spandana Sphoorty Financial, said on Wednesday ...
Helping People Help Themselves – Microfinance in Action in Timor- Leste
June, 21 2010
Timor-Leste - Helping women from poor households to establish small businesses is the daily work of the Timorese microfinance institution Tuba Rai Metin (TRM). Their belief is that the prosperity of Timor-Leste has to be built upon the prosperity of the most important structure in society, the family unit ...
ADB Approves $72 Million for Nepal
June, 18 2010
Durbar Marg, Kathmandu, Nepal - The Asian Development Bank (ADB) Friday approved $72 million, which includes $ 60.4 million loan and $12.1 million in grants, to Nepal for programmes aimed at providing access to poor and isolated rural communities to credit and financial services ...
Microfinance Faces Mega Default Risks
June, 18 2010
London, United Kingdom - Microfinance is expanding fast in emerging economies. The number of financial institutions piling in to grab a slice of the market is expanding at an even faster rate. The latest to make a move in the sector were the Indian conglomerate Aditya Birla and South Korea’s Smile Microcredit Bank. However, the microcredit system founded by the Nobel Prize winner Muhammad Yunus, whose Grameen Bank gave millions of people access to credit, is in trouble.In fact, it seems to be facing nothing less than a new subprime style crisis. Bloomberg’s excellent analysis on the subject points to a report by CGAP which shows that the number of defaults in the last 24 months has risen sharply in several emerging countries ...
Kyrgyzstan: Revival Foundation Established to Provide Financial Aid in Southern Regions
June, 18 2010
Bishkek, Kyrgyz Republic - Two microfinance organizations of Kyrgyzstan, MFC “Bai-Tushum & Partners”, “Mol Bulak Finance” and a law firm “Kalikova & Associates” agreed to establish a non-profit “Revival Foundation” which will be serving the Southern regions of Kyrgyzstan with financial aid and interest free loans to those who suffered from the recent events in the country. ...
IFC’s First Remittance-secured Financing Enables Credit for El Salvador’s Microenterprises, Lower-income People
June, 16 2010
San Salvador, El Salvador - IFC, a member of the World Bank Group, will provide up to $30 million of debt financing to Fedecredito using an innovative funding approach that leverages the significant remittances of El Salvadorans working abroad to increase lending to microentrepreneurs and low-income people in the country ...
Korea: Microfinance Loans May Triple this Year
June, 16 2010
Seul, Korea - Microfinance loans in Korea may triple this year as the government seeks to share the benefits of economic recovery with all social classes, said Kwon Hyouk Se, vice chairman of the Financial Services Commission ...
India: US$100mln World Bank Microfinance Scheme Approved by Indian Govt
June, 16 2010
New Dehli, India - The Indian government on Tuesday approved a a proposal to draw a loan of US$100 million (about Rs 450 crore) from the World Bank to promote microfinance in the country ...
Threat of Microfinance Defaults Rises in India as SKS Plans IPO
June, 15 2010
Mumbai, India - More microlenders will likely tap equity markets, said Basix Group’s Mahajan. Until now, they have relied on loans and grants from banks, insurers and foundations for funding, he said. “An IPO is inevitable for any microfinance company that has crossed a certain size,” Mahajan said. “The money needed to maintain capital adequacy standards and finance future growth at that point is too much to expect from just the banks or private equity investors.” ...
MFBs in Nigeria, Ghana Receive 40m Euros Foreign Investment
June, 15 2010
Lagos, Nigeria - The microfinance sector in Nigeria and Ghana has received a boost through a 40 million Euro fund, launched in a joint venture by Goodwell Investments from The Netherlands, Alitheia Capital of Nigeria and JCS Investments from Ghana ...
Iraqi Microfinance Industry Opens 100th Branch Office
June, 14 2010
Baghdad, Iraq - Iraq’s rapidly growing microfinance industry reached a major milestone this month when the Al-Tadhamun (TDMN) microfinance organization opened its third branch office in the Northern Province of Ninawa. The opening brings the total number of microfinance branches and satellite offices across Iraq to 100 and underscores the success Iraq’s MFI sector has achieved in its drive to provide wider access to inclusive, quality financial services across the country ...
Barclays Launches Report on Improving Global Access to Financial Services
June, 14 2010
London, United Kingdom - Greater cooperation between banks, policy makers, NGOs and technology providers is vital to improving access to financial services and fostering prosperity in the post-financial crisis world, according to a report launched today by Barclays and the Economist Intelligence Uni ...
India: Microfinance Industry Eyes 11 Crore Borrowers by 2014
June, 13 2010
Chennai, India - The Indian micro finance industry (MFI) would cross 11 crore (11 million) borrowers and Rs 135,000 crore ($30 billion) in loan portfolio by 2014 and will require a huge capital inflow both in debt and equity, according to a latest report by Intellecap ...
Sub-Saharan Africans Bank on Family for Business Loans
June, 11 2010
Washington, DC - Sub-Saharan Africans would most likely turn to their families if they needed money to start a business, according to Gallup surveys of 18 countries in the region. ...
Latin America: Microfinance Among the Populists
June, 11 2010
Barranquilla, Colombia - Populist governments across Latin America are re-shaping the environment in which microfinance institutions (MFIs) provide financial services to low income people. The proposals of these governments are similar -interest rate caps that are politically attractive but unfeasible, public intervention in financial services (as they have nationalized other industries) and a politicized approach to credit. ...
Measuring the Impact of Microfinance: Taking Another Look
June, 10 2010
River Forest, United States of America - Grameen Foundation has released a new publication by Kathleen Odell, an assistant professor of economics at Dominican University’s Brennan School of Business in River Forest, IL ...
Performance-Based Agreements: Incorporating Performance-Based Elements into Standard Loan and Grant Agreements
June, 10 2010
Washington, DC - All donors and investors use contracts to establish legal relationships with the partners they fund. Typically, these contracts define the permitted use of the funds and include general suspension or termination clauses. Unfortunately, many agreements do not include project-specific performance targets and do not define sanctions for failure to deliver minimum performance against those targets ...
India: IFC Eyes 20% Stake in Swadhaar FinServe
June, 04 2010
Chennai, India - The International Finance Corporation (IFC), part of World Bank group, is planning to acquire 20 per cent shareholding in Swadhaar FinServe (SPFL), an urban-focused microfinance institution based operating in Mumbai, Baroda and Pune ...
Peru's Microlenders Growing With Small Businesses
June, 04 2010
Lima, Peru - Many of them started off lending for social projects. Now most of Peru's microlenders are finding a market in lending to rapidly expanding small businesses. Municipal and privately owned "cajas," other specialized lending agencies, and now subsidiaries of big banks are all expanding, aiming to meet the demand in Peru's robust and often informal business sector ...
India: World Bank Approves $407 m Loans for Microfinance Projects
June, 03 2010
Washington, DC - The World Bank has approved two projects worth $407 million to India, consisting of a $300 million credit/loan for the Scaling up Sustainable and Responsible Microfinance Project and a $107 million loan for the Statistical Strengthening Loan. ...
Philippines: Bangko Sentral may Raise Ceiling on Micro-Loans
June, 03 2010
Quezon City, Philippines - Noting a rise in the number of micro-finance players, the central bank is considering raising the limit of micro-finance loans to expand its market base and tap unserved sectors. ...
Colombia: Financial Regulator Says Six Firms Seek to Open Banks
June, 02 2010
Colombia - Colombia's financial regulator has said that six firms, local and foreign, are seeking to open new banks in the country, reports Dow Jones. ...
European Investment Bank to Support Pioneering Rural Microfinance Fund: Leading Development Financial Institutions Launch EUR 100m Rural Impulse Fund II
June, 01 2010
Luxembourg - The ability of poor rural communities around the world to access finance received a significant boost earlier today with the creation of Rural Impulse II, a new specialist microfinance fund backed by leading public and private financial institutions and investors ...
Philippines: 11 million RP Households Do Not have Bank Accounts
June, 01 2010
Quezon City, Philippines - About two-thirds of Philippine households do not have a bank account, according to Bangko Sentral ng Pilipinas Gov. Amando M. Tetangco Jr., saying this translates to an estimated 11 million households that remain untapped by the banking system ...

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