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New Microfinance Bank Begins to Operate in Tajikistan
March, 31 2010
Dushanbe, Tajikistan - A new microfinance bank, AccessBank Tajikistan, which announced the start of operations on March 29, will expand the availability of credit for micro and small enterprises in the country.
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Establishment of the World Diaspora Fund
March, 31 2010
Geneva, Switzerland - The WDF will invest through loans, guarantees, or even taking stakes in microfinance institutions in the South. The Fund will also participate in financing infrastructure identified by the migrants
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Individual Investors Look to Back Microfinance Institutions
March, 30 2010
Bangalore, India - It’s not usual for individuals in India to invest in micro-credit firms because of the high risk involved in lending to the poor. But the industry’s robust growth projection is beginning to make a few rich investors like Ramachandran more confident about it
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The Bigger Picture for Microfinance
March, 29 2010
London, United Kingdom - Mercedes Canalda de Beras-Goico faces a balancing act familiar to many leaders of growing businesses: how to manage rapid expansion while staying close to her core clients. Unlike most business leaders, however, her largely female customers are poor, rural entrepreneurs
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LeapFrog Poised to Invest $112 Million in Insurance and Microfinance Companies, After Historic Commitments by IFC, KfW, Flagstone and Soros
March, 29 2010
Frankfurt, Germany and Washington, United States - LeapFrog Investments, the world's first microinsurance fund, announced today that it has surged past its $100 million target capitalization, months ahead of schedule. Leading global investors have aligned behind LeapFrog's ground-breaking profit-with-purpose investment strategy, with four new investors announcing their commitments today.
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Pakistan: SBP Launches Schemes to Boost Credit Flow
March, 20 2010
Karachi, Pakistan - State Bank of Pakistan Governor Syed Salim Raza has launched two separate schemes aimed at enhancing the flow of credit to the Small and Rural Enterprises with greater emphasis on revitalization of business activities in the troubled areas of North West Frontier Province (NWFP), Federally Administered Tribal Area (FATA) and Gilgit-Baltistan (GB).
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India: SKS Microfinance may hit Street with Rs 1,000-cr IPO
March, 16 2010
New Dehly, India - Hyderabad-based SKS Microfinance is looking to raise Rs 1,000 (USD 219 ml.) crore from its upcoming public flotation , whose progress is being keenly watched as it is the first share issue by a company in the fledgling microfinance sector.
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Kenya: Security for Shillings
March, 11 2010
United Kingdom - Kilimo Salama, which in Kiswahili means “safe farming”, uses a combination of mobile phones and 30 automated solar-powered weather stations to provide crop insurance
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India: MFI-Focused Elevar Equity Raises $70M Fund
March, 11 2010
Noida, Uttar Pradesh, India - Elevar Equity Advisors Pvt Ltd, a Bangalore-based private equity fund, has raised a $70-million fund, which will invest in microfinance and other essential services in India, Mexico, the Philippines and Peru. This is the third fund of Elevar
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Sequoia May Pick Up 9.4% in CARE
March, 09 2010
New Dehli, India - Private equity firm Sequoia Capital is looking to pick up 9.4% stake in rating agency Credit Analysis and Research Ltd (CARE) for Rs 73.5 crore, people close to the development said.
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Janalakshmi Financial Gets $10 Mn from Treeline Asia
March, 09 2010
Noida, U.P. - Janalakshmi Financial Services, a Bangalore based microfinance institution (MFI), has raised $10 million in its series B funding led by Treeline Asia Master Fund. The Hong Kong and Singapore-based hedge fund has invested in this round with Bellwether Microfinance Fund, an existing investor.
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Nigeria: Mergers, Acquisition Imminent in Mfb Sector
March, 09 2010
Washington, United States - The recent focus of the Central bank of Nigeria (CBN) to the Microfinance Banking sector (MFBs) to enhance regulation and supervision may lead to massive mergers and acquisitions to limit possible cases of close down as the apex bank plans to jerk up minimum capital base in the sub-sector any moment from now
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ACCION Launches Microfinance Operations in Inner Mongolia
March, 04 2010
Boston, United States - ACCION® International, a pioneer and leader in global microfinance, announced today that it has inaugurated ACCION Microcredit China (AMC) in Chifeng Prefecture, Inner Mongolia, to deliver financial services to the region's working poor. AMC officially opened its doors in early December, and is already making microloans to local entrepreneurs.
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Ghana: 1st Private Equity Micro-Finance Fund Launched
March, 03 2010
Ghana - Social investment firm, JCS Investments say plans are underway to make the initial investment of the first Private equity Micro-Finance Fund in Ghana before the end of the second quarter of this year
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IFC and Fundación Mundo Mujer to Reach Entrepreneurs and Low-Income Households
March, 02 2010
Bogotá, Colombia - IFC, a member of the World Bank Group, is providing Advisory Services to Fundación Mundo Mujer to support its transformation from a microcredit nongovernmental organization to a regulated financial institution specializing in microfinance to increase access to finance for entrepreneurs and low-income households
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Investors Backing Microfinance Despite Impact of Crisis
March, 02 2010
Washington, United States - World markets have been volatile in the wake of the global financial crisis, but investors showed nearly unshakeable faith in the microfinance sector during 2009, driving equity valuations higher even as asset quality and profitability at microfinance institutions (MFIs) deteriorated
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Microfinance's Midlife Crisis
March, 01 2010
United States - From humble beginnings, microfinance—a system of providing tiny loans and savings accounts to the poor—has grown into a global industry attracting the interest of large multinational banks. But the commercialization of the industry has sparked a fierce debate. Profit advocates highlight improved access to foreign capital and expertise; traditionalists say microfinance companies are in danger of becoming little better than predatory moneylenders
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