Bangladesh: Why We Should Rethink Financial Inclusion
April, 30 2018
Bangladesh - If financial institutions want to encourage higher adoption and greater usage of financial services among women then they need to ensure that their products are designed to fit their unique financial lives. ...
IFC May Extend $40m Debt to Cambodian Microlender Amret
April, 29 2018
Cambodia - The International Finance Corporation (IFC), the private lending arm of the World Bank Group, has proposed to extend a loan of up to $40 million to Amret Company Limited, a deposit-taking microfinance institution (MFI) in Cambodia.
'Unprecedented Opportunities' for Reaching the Unbanked
April, 28 2018
Global - For Dr. Ruth Goodwin-Groen, managing director of Better than Cash Alliance, the most important takeaway is the role that governments can play in making digital payments a priority. She points to India and China, both of which have taken vigorous steps to boost digital payments; those countries have achieved 80% account ownership ...
Pakistan: Poverty Goes Down More Than 50 Percent
April, 27 2018
Pakistan - Poverty has seen over 50 percent reduction during the past one decade as the percentage of people living below poverty line has declined from 50.4 percent in 2005-06 to 24.3 percent in 2015-16 ...
Paraguay’s Self-Sustaining Agricultural School Helps Rural Students Learn and Earn
April, 22 2018
Paraguay - In 2002, the school was transferred to the NGO Fundación Paraguaya, Paraguay’s first microfinance institution, with the hope that the organization could find a way to support it. Within a year, the San Francisco Agricultural School was transformed into an enterprise-based agricultural school, founded on a new model of financial self-sufficiency. ...
World Bank Issues First-Ever Poverty Bond, Gets $1.5 billion
April, 19 2018
Global - The World Bank’s International Development Association (IDA) launched the world’s first poverty bond this week, a debt offering representatives say is designed to lift up the poor, and global investors literally couldn’t get enough.
While IDA, which has never before raised money through a bond, issued just $1.5 billion in debt, international investors pledged $4.6 billion in offers – making the bond more than three times oversubscribed, a World Bank spokesman told Yahoo Finance ...
Private Debt Impact Investing Offers Competitive Financial Performance
April, 17 2018
Global - As evidence mounts that impact investments can generate returns competitive with conventional investment returns, the same is true in the private debt asset class, according to a report released Tuesday by the Global Impact Investing Network and Symbiotics, a market access platform for impact investing ...
Nigeria: Thumbs Up - Lifeline for MSMEs
April, 16 2018
Nigeria - Micro, small and medium scale enterprises (MSMEs) play a major role in most economies, particularly in developing countries.
In fact, MSMEs are recognised globally as the nucleus of sustainable growth, job creation and poverty reduction. They contribute up to 45 per cent of total employment and up to 33 per cent of national income (GDP) in emerging economies, according to a report by the World Bank ...
Kazakhstan to Get Huge IFC Loan for its Microfinance
April, 16 2018
Kazakhstan - International Finance Corporation (IFC), a member of the World Bank Group, is providing a senior syndicated loan of $82 million equivalent in Kazakh tenge to “Microfinance organization “KMF” LLC, a leading Kazakh microfinance institution, to boost lending to micro and small enterprises, including women entrepreneurs and customers in rural areas of Kazakhstan, the press service of IFC said in a message ...
Sub-Saharan Africa: Study Tips Micro-Loans to Bridge Housing Shortfall Among Poor
April, 15 2018
Sub-Saharan Africa - Housing microfinance and small non-mortgage-backed short-term loans can bridge the financial gap faced in addressing growing housing needs in the region, a new study by Habitat and Mastercard Foundation shows.
The findings in the report Building the Business Case for Housing Microfinance in sub-Saharan Africa shows that there is a demand for housing microfinance among families or individuals earning as little as Sh500 a day who are seeking to build, extend, or renovate their home ...
Pakistan: With Robust Demand, Microfinance Market Grows 35-40% Annually
April, 13 2018
Pakistan - FINCA Microfinance Bank Chief Executive Officer Mudassar Aqil said the microfinance market in Pakistan was expanding at an average of around 35-40% annually and the ratio could further increase in coming years. “Five years ago, the microfinance market was not even half of what it is today,” said Aqil in an interview with The Express Tribune.
Total market size is estimated at around 27 million borrowers, of which the microfinance sector has 4.5 million borrowers ...
Smartphones Are Common in Myanmar: Is Digital Finance Far Behind?
April, 11 2018
Myanmar - High smartphone penetration coupled with developed country data use levels suggest that Myanmar is poised for large-scale digital financial services adoption. If the experiences of countries like China are any indication, when this happens it will not be because the Myat Su’s of the world embrace financial services for their own sake. It will be because they couldn’t do something else — whether selling products online or gifting a cup of coffee to a friend via an app — without them ...
Pakistan: Women Who Shine
April, 10 2018
Pakistan - This week, You! highlights a few success stories of women who changed their lives by starting their own businesses with the help of a microfinance institution.. ...
9 Million Vietnamese People Still Living in Extreme Poverty: Report
April, 07 2018
Vietnam - The poor faces a widening gap in terms of access to upper secondary education and improved water and sanitation.
Nine million Vietnamese people are still living in extreme poverty, according to a World Bank report released on Thursday which calls for more alleviation efforts despite the success so far ...
Mauritania: Organizing Farmers in Africa Crucial
April, 07 2018
Mauritania - As of December 2017, IFAD has supported 39 ongoing programmes and projects in 23 countries in West and Central Africa, representing US$1.3 billion in IFAD financing. More than 5 million people, 54 percent of whom are women are benefitting from the investment.
Since its founding in 1977, IFAD has supported national efforts to improve the lives of smallholder farmers and poor rural people around the world by financing more than 1,000 development projects, with a value of $19.7 billion ...
Nicaragua Advances in Poverty Reduction, States FAO
April, 06 2018
Nicaragua - Nicaragua is making progress today in reducing poverty, reported the United Nations Food and Agriculture Organization (FAO), which highlights the favorable economic performance of the country ...
Atlas Renewable Energy Announces 1st Solar Project in Mexico
April, 04 2018
Mexico - Atlas Renewable Energy announced today that it acquired from SunPower Corp. the Guajiro solar project in Mexico, with a planned capacity of 126.5 megawatts (MWp) peak (101.4 MW), in the municipality of Nopala de Villagran, state of Hidalgo ...
EBRD Provides €5 Million for Energy Efficiency in Bosnia
April, 04 2018
Bosnia and Herzegovina - The finance is provided under the Bank’s €85 million Green Economy Financing Facility (GEFF) for the Western Balkans. Incentives and technical cooperation in support of green technology investments will be provided by the European Union (EU), Austrian Federal Ministry of Finance and the European Western Balkans Joint Fund under the Western Balkans Investment Framework ...
BitPay Raises $40M in Series B Funding to Expand into Emerging Asian Markets
April, 03 2018
Global - As a result of the technology provided by BitPay, hundreds of thousands of businesses around the world are now able to accept bitcoin payments. Popular brands like Microsoft, Newegg, Namecheap, Gyft, Takeaway.com and Virgin Galactic use BitPay. The BitPay Wallet consumer adoption is also growing, with a monthly average of more than $3 billion in transactions ...
India: Spate of Defaults in Microfinance Securitisation Transactions Raises Concern
April, 03 2018
India - Recent defaults in seven microfinance securitisation transactions with an initial senior-class pass through certificate amount of Rs 849.34 crore and an initial rating predominantly in the ‘A’ category have again highlighted the need for greater caution in evaluating the microfinance loan securitisation, according to India Ratings and Research ...
Top Microfinance Banks in Kenya
April, 02 2018
Kenya - Microfinance banks in Kenya, as well as the regulations that govern them, have experienced significant developments since the mid-90s. Most of these changes have been laid out with the intention to enhance customer experience to make the institutions the excellent lending option for Kenyans ...