Posts Tagged ‘IDB’

IDB lends $5m to Global Partnerships for microfinance investments in LA

Microfinance Focus, Oct 7, 2010: Inter-American Development Bank and Seattle based Global Partnerships have signed a $5 million loan on Wednesday in Uruguay to capitalize the organization’s Social Investment Fund 2010. The Global Partnerships Social Investment Fund 2010, which raised a total of $20 million from a number of private and institutional investors, will invest in microfinance institutions that are going beyond providing working capital loans ... Full story

IDB guarantees 2,000 microloans of Mexico’s Agrofinanzas

Microfinance Focus, Aug 17, 2010: Inter-American Development Bank (IDB) will be giving partial credit guarantee of up to US$5 million for Mexico’s Agrofinanzas 2,000 loans to small sunflower producers in Mexico. The operation is part of a supply chain project, which includes the commitment of the food & beverage company PepsiCo Mexico to purchase the production of sunflower oil produced by the network of small farmers. The ... Full story

Peru’s Microfinance Insti Mibanco gets $45m IDB loan for women microentrepreneurs

Microfinance Focus, Aug 7, 2010: The Inter-American Development Bank has announced a syndicated $36 million loan to help Mibanco – Banco de la Microempresa S.A. increase its lending to female microentrepreneurs in Peru. The syndicated loan consists of an A loan for the equivalent of $10 million from the IDB’s own resources and a B loan for the equivalent of $26 million provided by a syndicate ... Full story

Colombia’s Familias en Acción program gets $220m IDB loan

Microfinance Focus, Aug 5, 2010: The Inter-American Development Bank has today approved a US$220 million loan to support 1.5 million households within Colombia’s Familias en Acción conditional cash transfer program which is aimed at improving the health, nutrition and education of poor families. Familias en Acción, Colombia’s highly-successful conditional cash transfer program, was established in 2001 with the dual objective of contributing to poverty reduction through ... Full story

IDB approves $6.85m grant for Water & Sanitation project in rural Uruguay

Microfinance Focus, July 31, 2010: The Inter-American Development Bank (IDB) has approved a $6.85 million grant to expand access to better sanitation and water services in Uruguayan rural communities and schools. The grant for the “Small Rural Communities Water Supply Program” comes from the Spanish Cooperation Fund for Water and Sanitation in Latin America and the Caribbean. The government of Uruguay will provide an additional ... Full story

IDB approves $2.25m Program for Haitian Microfinance Institution

Microfinance Focus, June 12, 2010: Inter American Development Bank (IDB) has recently approved $2.25m for Haitian Emergency Liquidity Program (HELP) to assist microentrepreneurs and low income borrowers affected by the earthquake, by providing structured support to the microfinance institutions (MFIs) that serve them. The program will provide contingent recovery financing to temporarily acquire earthquake-related portfolio in arrears from eligible MFIs. This will allow beneficiary MFIs ... Full story

IDB’s ‘Foromic’ to be held in Uruguay

Microfinance Focus, May 29, 2010: The 13th Inter-American Microenterprise Forum, Foromic 2010 of the Inter-American Development Bank’s Multilateral Investment Fund (MIF) will be held in Montevideo, Uruguay from October 6-8, 2010, according to a press release. During Foromic 2010 the MIF will present its annual awards for microenterprise development in Latin America and the Caribbean. The contest is open to microfinance institutions, credit unions, banks and ... Full story
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IDB provides $3.5M to Chilean AgroDesarrollo fund

Microfinance Focus, Dec. 2, 2009: The Inter-American Development Bank’s Multilateral Investment Fund (MIF) will make an equity investment of up to $3.5 million in AgroDesarrollo, a fund that backs agribusiness entrepreneurs in rural Chile. MIF is an autonomous fund administered by the IDB that promotes the development of microenterprises and small and medium-size businesses in Latin America and the Caribbean, providing access to various forms of ... Full story

IFAD, IDB to co-finance $1.5B to support the poor

Microfinance Focus, Nov. 25, 2009: Recent World Summit on Food Security in Rome saw the International Fund for Agricultural Development (IFAD) and the Islamic Development Bank Group (IsDB) reaching $1.5 billion co-financing agreement to support the world’s poorest people in member countries. The agreement was the result of talks held in Rome on Nov. 15 between Ahmad Mohamed Ali, President of IsDB, and Kanayo F. Nwanze, ... Full story

OPIC Board Approves $125 MN Microfinance Fund for Latin America

Microfinance Focus, November 22, 2009: The Board of Directors of the Overseas Private Investment Corporation (OPIC) approved $125 million for a microfinance growth fund that will provide much-need capital to microfinance institutions (MFIs) in Latin America and the Caribbean, said a statement. President Obama announced establishment of the fund at the Summit of the Americas in April, as a response to the impact of the ... Full story

ISFD approves $15m for microfinance projects in Tajikistan, Kyrgyz Republic

MicrofinanceFocus, July 22, 2009: The Islamic Solidarity Fund for Development (ISFD), an affiliate of the Islamic Development Bank (IDB), has approved two microfinance projects, one each in Kyrgyz Republic and Tajikistan worth $15 million, said a statement by the bank. The approval came following the meeting of the board of directors of the ISFD at the IDB headquarters in Jeddah on Tuesday.   The ISFD was established after the Makkah Extraordinary Islamic Summit in 2005. The fund seeks to mobilize resources worth US$ 10 billion to combat poverty in the OIC (Organisation of Islamic Conference) member countries. Following the approval by ISFD, the project in Kyrgyz Republic will get a concessional loan for US$ 5 million to finance micro enterprises through local partners in rural areas. The duration of the loan is 10 years including a grace period of three years. A technical assistance grant of US$ 300,000 shall be provided for the project. Full story
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