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Sep 2013
Peru: Fitch Downgrades Grupo ACP's IDR to 'B'; Outlook Negative
September, 30 2013
Peru - Fitch Ratings has downgraded Grupo ACP Inversiones y Desarrollo's (ACP) Viability Rating (VR) and long-term Issuer Default Rating (IDR) to 'b' and 'B', respectively. Fitch has also revised ACP's Rating Outlook to Negative ...
Global Communities and Overseas Private Investment Corporation Announce 15-year Guaranty Facility in Lebanon
September, 30 2013
Lebanon - Global Communities and the Overseas Private Investment Corporation (OPIC) today announced that OPIC has agreed to provide a $25 million, 15-year loan guaranty facility to Global Communities’ subsidiary Vitas s.a.l., to support expanded lending to underserved entrepreneurs in Lebanon. ...
India: SKS Micro Concludes Rs 321 Securitisation Transaction
September, 30 2013
India - SKS Microfinance Limited, the only listed microfinance institution (MFI) in the country, has concluded securitisation transaction for Rs 321 crore with a major public sector bank ...
Myanmar: Micro Lenders Eye Growth Paths
September, 29 2013
Myanmar - World Vision is attempting to become the first NGO to obtain a commercial licence for its Microfinance Institution (MFI) arm in Myanmar, as the industry increasingly professionalizes, more commercial players enter and rules governing the sector are established ...
Guyana Opens Credit Info Bureau
September, 28 2013
Guyana - Guyana's first Credit Info Bureau (CIB) was launched Friday evening at the Georgetown Club. It was described as a significant and important milestone in development of the financial sector in Guyana ...
Nigeria's Central Bank Mobilizes €1.9bn for SMEs in Kebbi
September, 27 2013
Nigeria - The Central Bank of Nigeria (CBN) has earmarked N420 billion (€1.9 billion) as Credit Guarantee Scheme to support small and medium-sized enterprises (SMEs) in the Kebbi region, the Secretary of the Nigerian Association of Small Scale Industries (NASSI) has revealed ...
Cambodia Post Bank Enters Crowded Sector
September, 27 2013
Cambodia - Cambodia Post Bank Plc opened its doors yesterday, becoming the newest player in an increasingly crowded industry ...
Standard Chartered Eyes Big Growth in Lending to Smaller Companies
September, 26 2013
Global - Standard Chartered PLC will seek to increase lending to small and medium-size enterprises in emerging markets by nearly half over the next five years, even though economic growth has slowed and analysts warn of rising losses from bad loans ...
United States: OPIC and Citi to Leverage up to $200 Million in Financing to Connect Micro and Small Enterprises with Corporate and Financial Institutions
September, 25 2013
United States - The Overseas Private Investment Corporation and Citi have agreed to use their existing framework lending facilities to deliver up to $200 million in financing for Citi’s multinational and local corporate and financial institution clients that are engaged in sectors such as microenterprise, agribusiness, affordable housing, clean energy, education and sanitation ...
Switzerland: Bamboo Finance Seeks $200M for Second Fund
September, 25 2013
Switzerland - Yet another firm is out in the market trying to convince potential backers that investments with a positive social and environmental impact in emerging markets aren't just in the interests of philanthropy. ...
Pakistan: Credit Line-Govt Unveils Microfinance Scheme Worth RS125b
September, 25 2013
Islamabad, Pakistan - Against the backdrop of negative credit growth in the private sector and risk-aversive banks reluctant to lend money to small borrowers, the government’s small business loan scheme is set to provide at least Rs100 billion loans to 100,000 borrowers in a year ...
Coalition of Public, Private and Civil Society Leaders Unveils Roadmap to Financial Inclusion
September, 24 2013
Global - Financial Inclusion 2020 Announces Recommendations for Financial Service Providers, Policymakers and Nonprofits Focusing on Greater Access, Quality and Protections for Customers ...
The End of Poverty, Soon
September, 24 2013
Global - One can say that the fight to end poverty is helping to forge a new kind of mixed capitalism. Old debates of public versus private are being superseded by new strategies that involve both the public and private sectors. ...
MENA Initiative to Offer Risk Capital to Locally-Owned SMEs
September, 23 2013
MENA - An initiative to provide risk capital and business support to locally-owned start-ups and SMEs in MENA has been announced by Shell Foundation and GroFin, an SME development financier ...
Grameen Bank Under Direct Control of the Central Bank
September, 23 2013
Bangladesh - The Bangladesh government is finally bringing the Grameen Bank under direct control of the central bank, to give the authorities more powers over the microcredit organisation ...
Switzerland: UBS Launches First Fund for Impact Investing
September, 23 2013
Zurich/Basel, Switzerland - UBS has set up and closed its first impact investing fund dedicated to investing in small and medium-sized enterprises (SMEs) in emerging and frontier markets (countries with nominal GDP of less than USD 10,000 per capita) ...
India: RBI Relaxes Branch Opening Norms for Banks
September, 20 2013
Mumbai, India - The Reserve Bank of India (RBI) on Thursday relaxed its norms for banks to open branches in Tier I cities to push financial inclusion—the process of spreading banking services to unbanked areas ...
Standard Chartered Bank (SCB) Loans $11m to India’s Equitas Microfinance, Satin Credit Care
September, 19 2013
India - Standard Chartered Bank (SCB), recently notified MicroCapital that it disbursed during August 2013 loans of INR 450 million (USD 7.2 million) to Equitas Microfinance, an MFI in Chennai, and INR 350 million (5.5 million) Satin Credit Care, an MFI in Delhi. ...
The Rise of Sustainable Banking
September, 19 2013
United Kingdom - Gone are the days when banks existed purely for the purpose of generating profits," writes World Finance, as financial crisis and the banking collapse has given rise to a wave of sustainable banking ...
Angel Gurría, Secretary-General, OECD: A Wholesale Approach to Policymaking is the Key to Tackling Inequality
September, 18 2013
Global - Poor and rich countries alike must recognise that inequality goes beyond income, encompassing health, education and more ...
Mexican Micro-Lender Compartamos Gets a Corporate Facelift
September, 18 2013
Mexico - Mexican micro-finance company Compartamos SAB (CMPRY, COMPARC.MX) is changing its corporate name to Gentera, which it expects will give it greater clarity and flexibility as it continues to pursue expansion, company executives said Wednesday. ...
CDC Group Commits $25 Million to LeapFrog Group’s Second Fund
September, 18 2013
Global - UK's CDC Group has committed $25 million (Rs 158.4 crore) in emerging markets-focused impact investment firm LeapFrog Group's second fund, the British development finance institution announced on Tuesday ...
Africa Leads Growth in Financial Inclusion, Finds IMF Study
September, 17 2013
Global - African countries are showing the fastest growth in financial inclusion in the world, the International Monetary Fund (IMF) revealed today, following the publication of its yearly Financial Access Survey (FAS) ...
M-Pesa Usage Data: OTC Makes Sense, Even for Kenya
September, 17 2013
Kenya - Cash-lite and cashless are big buzzwords at the moment in financial inclusion circles. They have become the goal of many business and public policy initiatives especially in the mobile ecosystem. ...
India: Micro Housing Finance Corp Raises $5.4 Million in New Equity Funding
September, 17 2013
India - Urban lower income-focused housing finance company, Micro Housing Finance Corporation (MHFC), has raised Rs 35 crore in new equity funding from existing investors including the India Financial Inclusion Fund (IFIF) and the Michael & Susan Dell Foundation (MSDF) besides adding a new investor Unilazer Ventures Pvt Ltd, the personal investment vehicle of Ronnie Screwvala ...
Philippines: RCBC Putting up World’s First Mobile Micro Biz Offices
September, 16 2013
Manila, Philippines - Yuchengco-led Rizal Commercial Banking Corp. (RCBC) is putting up the world’s first mobile microbusiness offices (MBOs) to support its microfinance banking efforts, a bank official said ...
Digital Payments Would Benefit Poor Consumers, Financial Providers, Report Finds
September, 13 2013
Global - Digital payment systems have significant potential to expand access to financial services for poorer consumers while boosting revenues for financial services providers, a report from the Bill & Melinda Gates Foundation and McKinsey & Company argues ...
Bolivia: An Emerging Microfinance Climate
September, 13 2013
Bolivia - Bolivia’s erratic economic fortunes have proven an ideal climate for the success of microfinance, and BancoSol is one of the market leaders ...
Indonesia: OJK to Monitor Micro-Finance Institutions from 2015 Onward
September, 11 2013
Medan, Indonesia - Indonesia's Financial Service Authority (OJK) will be in charge of regulating and monitoring microfinance institutions (LKM) from 2015 onward. ...
India: Ujjivan Raises Funds from Oikocredit
September, 11 2013
India - Ujjivan Financial Services, a leading microfinance institution with pan-India presence, has raised R50 Cr of debt capital through issuance of listed, secured, redeemable, NCDs to Oikocredit, an international cooperative and social investor ...
Habitat for Humanity Announces a Three-year, $7.5 Million Partnership with the Hilti Foundation
September, 10 2013
United States - The partnership supports the MicroBuild Fund, Habitat's initiative to make affordable housing finance a vibrant part of the global microfinance sector while serving thousands of poor families with a combination of financial and housing support services to improve their homes incrementally ...
Ghana: Association Welcomes BoG's Recapitalization of Microfinance Firms
September, 10 2013
Ghana - The Ghana Association of Microfinance Companies (GAMC) has welcomed the increase in minimum capital requirement for operators in the industry ...
India: Krishnamurthy Vijayan Launches Charioteer Fund-I, the Rs 250-Crore Impact Investment Fund
September, 09 2013
New Delhi, India - Krishnamurthy Vijayan, the former executive chairman of JP Morgan Asset Management India, has launched an impact investment fund that will invest in India's livelihood and skills development space ...
Insurers Back Fund with Focus on Asia and Africa
September, 09 2013
Global - Six of the world’s leading insurers are to invest in a new $400m private equity fund being set up to back companies that sell financial services to individuals in developing countries ...
Lok Capital Turns to Renewable Energy, Farm Sector
September, 08 2013
Global - Lok Capital, which makes equity investments in ventures that have a social impact, now plans to put in money in the renewable energy and agriculture sectors. Here again, the focus will be on businesses that have a bearing on the lives of the poor, both in rural and urban areas ...
Zimbabwe Regulates Microfinance Business
September, 08 2013
Zimbabwe - The passing of the Microfinance Act seeks to address irregularities in the sector as unscrupulous microfinance institutions (MFIs) continued to dupe the public of their money, the sector’s association has said ...
The Truth about Microfinance in Peru
September, 05 2013
Huancayo, Peru - For each of the past five years, the Economist Intelligence Unit’s Global Microscope on the Microfinance Business Environment has ranked Peru as the world’s best climate for microfinance. But what does that mean at a grassroots level ...
Microinsurance: Can the Cinderella of Financial Inclusion Join the Global Ball?
September, 04 2013
Global - While the global financial inclusion agenda continues to place insurance at the back of the queue, this blog argues that insurance can potentially have a widespread impact in terms of driving behavior, managing risks, and thus financial inclusion and market development ...
India: SKS Trust Hikes Stake in SKS Microfinance
September, 04 2013
India - SKS Trust Advisors Pvt. Ltd said on Tuesday that it had become the single largest shareholder in India’s only publicly traded micro lender SKS Microfinance Ltd after it bought an additional 2.69% in the company on the stock exchanges ...
First Microfinance Loan for EBRD in Mongolia with TransCapital
September, 02 2013
Mongolia - The EBRD is supporting micro and small businesses in Mongolia with a loan to a microfinance institution, TransCapital. The loan of US$ 1 million equivalent will be provided in the local currency, Mongolian tugrug. ...
Kenyan Microfinance Firm Named Among Top 100 Global IT Frontrunners
September, 02 2013
Kenya - Kenya’s Juhudi Kilimo, a microfinance institution, has been recognized as one of the top global IT firms in 2013 due its remote credit assessment service ...
Jamaica: Billions Pumped Into MSME Projects, But Few Jobs Created
September, 01 2013
Jamaica - The Development Bank of Jamaica (DBJ) has provided financing for nearly 20,000 projects in the micro, small- and medium-sized enterprises (MSME) sector over the past three years, data from that office has revealed ...

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