Archive for the ‘Investments’ Category

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IFC to provide $3.6 million to Belstar, microfinance arm of Hand in Hand

By Naagesh Naaraayana Microfinance Focus, Oct. 7, 2009: Chennai-based Belstar Investment and Finance Pvt. Ltd., the microfinance arm of the Hand in Hand (HIH) group, plans to raise equity capital of Rs 175 million ($3.6 million) from International Finance Corporation, the investment arm of the World Bank. IFC is considering the proposal along with other investors in the project, which is expected to help transform the NGO ... Full story

EBRD provides $1 million for Kyrgyz micro enterprises

Microfinance Focus, Oct. 5, 2009: The European Bank for Reconstruction and Development (EBRD) is opening a local currency credit line for boosting the availability of finance to private businesses in Kyrgyz Republic for on-lending to micro and small enterprises (MSEs). The bank is providing a $1 million loan in Kyrgyz som to Mol Bulak Finance, one of the top five microfinance institutions in the Kyrgyz Republic, ... Full story

BlueOrchard to manage US microfinance fund for Latin America, Caribbean

Microfinance Focus, Oct. 1, 2009: Swiss fund manager BlueOrchard Finance has been chosen to manage the US-backed fund Microfinance Growth Facility (MIGROF) worth US$250 million, which was created recently to support the growth of MFIs to refinance their lending activities to people with no access to main banks. Full story

India’s Exim Bank raises $100 million from ADB

Microfinance Focus, Sept. 30, 2009: India’s state-run Export-Import Bank (Exim Bank) has raised $100 million loan from the Asian Development Bank (ADB) to boost the export potential of small and medium enterprises (SMEs) in poor and disadvantaged regions. The loan will be used medium- and long-term loans to export–oriented SMEs. As per the terms of the loan, Exim Bank will target increased trade and competitiveness amongst ... Full story

CRISIL eyes equity research of mid-cap companies

Microfinance Focus, Sept. 30, 2009: Rating agency CRISIL has formally announced its entry into independent equity research aimed at covering those companies which are not as big as the top 100 in the country. Full story

IFC to invest in Kazakh bank to finance SMEs

Microfinance Focus, Sept. 29, 2009: International Finance Corporation (IFC), an investment arm of the World Bank, has announced that it will invest in JSC Bank CenterCredit, providing long-term capital that will help promote access to finance for small and medium enterprises in Kazakhstan. Full story

IFAD provides $16 million to Burkina Faso for rural microenterprises project

Microfinance Focus, Sept, 25, 2009: Rome-based International Fund for Agricultural Development (IFAD) has provided $8.1 million loan and $8.1 million grant to Burkina Faso for the Rural Business Development Services Programme to develop the local private sector and non-farm businesses. Full story

Grameen Trust, Carlos Slim Foundation launch Mexico’s $45 million microfinance program

The mission of Grameen Carso, with $45 million, is to serve more than 100,000 borrowers in the next five years. Microfinance Focus, Sept. 25, 2009: Grameen Trust, in association of Fundacion Carlos Slim A.C., the family charitable foundation of Mexican businessman Carlos Slim Helu, have officially launched the Grameen Carso in Mexico on Thursday, close on the heels of similar initiative in China. Full story

Alibaba Group donates $5 million to Grameen Trust for China initiative

Microfinance Focus, Sept. 24, 2009: Global online e-commerce solutions provider Alibaba Group has donated $5 million tp Bangaldesh-based Grameen Trust as initial funding for the creation of Grameen China, to provide microfinance loans to the poor in China. In addition, Alibaba Group will advise in areas like technology-based support to help potential recipients access the program and Grameen China's initial focus will be in Sichuan, which ... Full story

OPIC provides $250 million to OPIC-Citi microfinance fund

Microfinance Focus, Sept. 24, 2009: The US state-run Overseas Private Investment Corporation (OPIC) will provide $250 million to expand a joint microfinance lending program with Citi Group that is aimed to help 480,000 borrowers especially in the emerging markets worldwide. Full story

The pain of failure: Liquidation lessons in microfinance

The pain of failure: Liquidation lessons in microfinance
By Daniel Rozas in Brussels Microfinance Focus, Sept. 16, 2009: When Washington Mutual, one of the largest US banks, was shut down in September 2008 following the sub-prime crisis, its depositors and secured creditors suffered no losses, though shareholders and unsecured creditors lost around $12 billion. That was still about 4 per cent of the company’s assets. However, ... Full story

Bandhan raises $51 million from SIDBI

Microfinance Focus, Sept. 15, 2009: Kolkata-based Bandhan microfinance has raised a Rs 250-crore ($51 million) credit from the Small Industries Development Bank of India (SIDBI) Full story

Lok Capital picks up 24% stake in Asirvad Microfinance

Microfinance Focus, Sept. 10, 2009: Venture fund manager Lok Capital announced on Thursday that it has invested $1.5 million to pick up a 24% stake in the Chennai-based Asirvad Microfinance. Founded in 2007,  Asirvad has 75,000 borrowers in Tamil Nadu and a portfolio outstanding of over $4.6 million. It has 21 branches in 7 districts and employs 150 persons. Full story

BlueOrchard and Asmitha: A year-long tie up strenthens further

Microfinance Focus, Sept. 2, 2009: Hyderabad-based Asmitha Microfin Limited has successfully closed its second round of equity infusion with BlueOrchard Private Equity Fund pumping in Rs 50 crore, almost double than its previous funding in Asmitha a year ago. Last year, the Geneva-based fund manager closed its first round of equity investment in Asmitha Microfin on September 30, 2008 by investing Rs. 25 crore (US$ 5.3 million) and taking a minority stake in the fourth largest non-banking financial company of India. It was BlueOrchard Private Equity Fund's first investment in India. Full story
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