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India: PE-Backed Suryoday Small Finance Bank Gets SEBI Nod for IPO
December, 28 2020
India - Of the total, Suryoday is likely to raise about Rs 375-400 crore via a fresh issue of shares while International Finance Corporation (IFC), homegrown private equity firm Gaja Capital and US PE firm Americorp Ventures, along with other institutional investors, will cumulatively sell nearly 8.5 million shares
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D. V. Pathirana: Sri Lanka - Country Needs a Big Housing Finance Bank
December, 28 2020
Sri Lanka - Based on the last five years’ average growth rate, country’s housing finance market is predicted to reach Rs. 1,300 billion by 2025. But the potential and desired growth and contribution that can be made to economic expansion is much higher than the prediction
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Southeast Asia: Report Highlights MSMEs Trends after COVID
December, 28 2020
Southeast Asia - The report, “Asean MSMEs in a Covid-19 World,” underlines the best insights culled from the recent series of talks conducted by the Economic Research Institute for Asean and East Asia (ERIA) on how MSMEs can navigate the pitfalls of the pandemic.
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AfDB to Accelerate Circular Economy in Africa with Waste Management Initiative
December, 24 2020
Africa - With an initiative funded by the Korea-Africa Economic Cooperation (KOAFEC) focused on waste management, the African Development Bank aims to accelerate the circular economy in Africa, a model which aims to minimise waste and maximise value from resources through the recovery and regeneration of products at the end of their typical service life
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IFC Extends Microfinance Loans in the Philippines
December, 22 2020
Philippines - The International Finance Corporation (IFC) is extending up to 750 million pesos (US$15 million) in debt financing to two of the Philippines’ largest microfinance institutions, CARD Bank and CARD SME Bank, to help keep businesses afloat and save jobs as the country grapples with the economic impact of the Covid-19 pandemic
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Somali Solar Providers Can Apply for Grants from $8.5m Pot
December, 18 2020
Somalia - Solar distributors and service providers and microfinance businesses which are rolling out PV systems in Somalia and the self-declared Republic of Somalil and have been offered access to grants from development donors
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Zimbabwe: Microfinance Sector on Recovery Path
December, 18 2020
Zimbabwe - The quality of the loan portfolio for the microfinance sector is now on the rebound as it is gradually improving since the advent of the Covid-19 pandemic, reflected by a decline in Portfolio at Risk ratio from 19,5% as at June 30, 2020, to 15,36% as at September 30, 2020
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If COVID-19 Changes Finance, Will That Help Development Funding?
December, 18 2020
Global - As global markets contracted in response to the COVID-19 pandemic, the growth of environmental, social, and governance, or ESG, investing; sustainable investing; and impact investing appears to have accelerated. But whether that potential shift will result in finally unlocking more capital to finance development remains an open question
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AfDB Announces $90 Million for Sustainable Energy Fund for Africa
December, 17 2020
Africa - The new SEFA Special Fund is expected to expand, be more flexible, as well as more responsive to Africa’s fast-changing energy market, with a sharper focus on green mini-grids and green baseload, and offering a wider array of catalytic finance instruments
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Cambodia: Credit Restructuring Applications Down
December, 15 2020
Cambodia - The Cambodia Microfinance Association (CMA) said the number of applicants for credit restructuring remained on a significant, encouraging downtrend and augurs particularly well for the finance sector
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Pakistan: SECP’s Sandbox — a Game Changer?
December, 14 2020
Pakistan - Financial inclusion is very dependent on the enabling environment that regulators create. In Pakistan, there are three main regulators: the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Telecom Authority
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Rwanda and Singapore to Boost Fintech Cooperation
December, 12 2020
Rwanda - The agreement, which was signed in a virtual ceremony, will see the trade ministry involved in the implementation of the international and open platform project, dubbed Business sans Borders (BSB)
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Mexicans Lack Access to Credit
December, 12 2020
Mexico - Surveys show many Mexicans do not trust banks. Meanwhile, almost 60% work in the informal sector, where they may receive an inconsistent income, in cash. The lack of access affects some more than others—the poor, rural, women and indigenous people
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IFC to Invest $30m in Malaysian Healthcare Startup MiCare
December, 09 2020
Malaysia - MiCare Sdn Bhd, a Malaysia-based healthcare third-party administrator (TPA), will be receiving US$30 million in a proposed equity investment from International Finance Corporation (IFC), according to a disclosure posted on IFC’s website
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More Investors Get behind Women’s Startups in Africa
December, 07 2020
Africa - Although Africa has the highest rates of female entrepreneurship in the world, there is a funding gap of about $42 billion between men and women entrepreneurs on the continent, according to the African Development Bank.
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Satin Creditcare Network to Expand in South India
December, 05 2020
India - Microfinance company Satin Creditcare Network Ltd plans to strengthen its presence in the South with the opening of a few more branches, said the company’s Chief Operating Officer K Thangaraju
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Creating a Roadmap for Rural Insurance Development in Colombia
December, 04 2020
Colombia - The ILO’s Impact Insurance Facility is working with the Federation of Colombian Insurers (Fasecolda), and Banca de las Oportunidades, the Colombian government’s financial inclusion programme, to develop a roadmap to promote inclusive rural insurance in Colombia
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In Latin America, Farmers Use Microfinance to Fight Climate Change
December, 02 2020
Latin America - Since 2012, the Microfinance for Ecosystem-based Adaptation (MEbA) project has provided technical assistance to financial institutions, helping them disburse more than US$ 29 million in loans to small-scale farmers in Colombia, Costa Rica, Ecuador, El Salvador, Peru and the Dominican Republic
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