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In Microfinance, a ‘Dot-Com’ Boom?
June, 24 2010
New Dehli, India - With hundreds of fledgling entrepreneurs ready to change the world and maybe make millions while they do it, the buzz around the microfinance industry looks a bit like the dot-com boom at the end of the ’90s
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Microfinance: Risky and Expensive
June, 23 2010
New Dehli, India - Private equity investments have put a premium on the valuation of microfinance companies when maybe they should be giving them a discount. Yes, the tiny-loan business is booming, but it is much riskier than the low default rates of the business would suggest, said Avnish Bajaj, managing director of Matrix Partners India which has an investment in one of India’s largest microfinance institutions
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India: Experts Say MFI Sector Is Undervalued
June, 23 2010
New Dehli, India - Microfinance institutions (MFIs) are not getting proper valuations from investors though their business models are similar to banks and NBFCs, Padmaja Reddy, managing director, Spandana Sphoorty Financial, said on Wednesday
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Helping People Help Themselves – Microfinance in Action in Timor- Leste
June, 21 2010
Timor-Leste - Helping women from poor households to establish small businesses is the daily work of the Timorese microfinance institution Tuba Rai Metin (TRM). Their belief is that the prosperity of Timor-Leste has to be built upon the prosperity of the most important structure in society, the family unit
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ADB Approves $72 Million for Nepal
June, 18 2010
Durbar Marg, Kathmandu, Nepal - The Asian Development Bank (ADB) Friday approved $72 million, which includes $ 60.4 million loan and $12.1 million in grants, to Nepal for programmes aimed at providing access to poor and isolated rural communities to credit and financial services
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Microfinance Faces Mega Default Risks
June, 18 2010
London, United Kingdom - Microfinance is expanding fast in emerging economies. The number of financial institutions piling in to grab a slice of the market is expanding at an even faster rate. The latest to make a move in the sector were the Indian conglomerate Aditya Birla and South Korea’s Smile Microcredit Bank. However, the microcredit system founded by the Nobel Prize winner Muhammad Yunus, whose Grameen Bank gave millions of people access to credit, is in trouble.In fact, it seems to be facing nothing less than a new subprime style crisis. Bloomberg’s excellent analysis on the subject points to a report by CGAP which shows that the number of defaults in the last 24 months has risen sharply in several emerging countries
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Kyrgyzstan: Revival Foundation Established to Provide Financial Aid in Southern Regions
June, 18 2010
Bishkek, Kyrgyz Republic - Two microfinance organizations of Kyrgyzstan, MFC “Bai-Tushum & Partners”, “Mol Bulak Finance” and a law firm “Kalikova & Associates” agreed to establish a non-profit “Revival Foundation” which will be serving the Southern regions of Kyrgyzstan with financial aid and interest free loans to those who suffered from the recent events in the country.
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Korea: Microfinance Loans May Triple this Year
June, 16 2010
Seul, Korea - Microfinance loans in Korea may triple this year as the government seeks to share the benefits of economic recovery with all social classes, said Kwon Hyouk Se, vice chairman of the Financial Services Commission
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Threat of Microfinance Defaults Rises in India as SKS Plans IPO
June, 15 2010
Mumbai, India - More microlenders will likely tap equity markets, said Basix Group’s Mahajan. Until now, they have relied on loans and grants from banks, insurers and foundations for funding, he said. “An IPO is inevitable for any microfinance company that has crossed a certain size,” Mahajan said. “The money needed to maintain capital adequacy standards and finance future growth at that point is too much to expect from just the banks or private equity investors.”
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MFBs in Nigeria, Ghana Receive 40m Euros Foreign Investment
June, 15 2010
Lagos, Nigeria - The microfinance sector in Nigeria and Ghana has received a boost through a 40 million Euro fund, launched in a joint venture by Goodwell Investments from The Netherlands, Alitheia Capital of Nigeria and JCS Investments from Ghana
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Iraqi Microfinance Industry Opens 100th Branch Office
June, 14 2010
Baghdad, Iraq - Iraq’s rapidly growing microfinance industry reached a major milestone this month when the Al-Tadhamun (TDMN) microfinance organization opened its third branch office in the Northern Province of Ninawa. The opening brings the total number of microfinance branches and satellite offices across Iraq to 100 and underscores the success Iraq’s MFI sector has achieved in its drive to provide wider access to inclusive, quality financial services across the country
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Barclays Launches Report on Improving Global Access to Financial Services
June, 14 2010
London, United Kingdom - Greater cooperation between banks, policy makers, NGOs and technology providers is vital to improving access to financial services and fostering prosperity in the post-financial crisis world, according to a report launched today by Barclays and the Economist Intelligence Uni
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India: Microfinance Industry Eyes 11 Crore Borrowers by 2014
June, 13 2010
Chennai, India - The Indian micro finance industry (MFI) would cross 11 crore (11 million) borrowers and Rs 135,000 crore ($30 billion) in loan portfolio by 2014 and will require a huge capital inflow both in debt and equity, according to a latest report by Intellecap
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Latin America: Microfinance Among the Populists
June, 11 2010
Barranquilla, Colombia - Populist governments across Latin America are re-shaping the environment in which microfinance institutions (MFIs) provide financial services to low income people. The proposals of these governments are similar -interest rate caps that are politically attractive but unfeasible, public intervention in financial services (as they have nationalized other industries) and a politicized approach to credit.
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India: IFC Eyes 20% Stake in Swadhaar FinServe
June, 04 2010
Chennai, India - The International Finance Corporation (IFC), part of World Bank group, is planning to acquire 20 per cent shareholding in Swadhaar FinServe (SPFL), an urban-focused microfinance institution based operating in Mumbai, Baroda and Pune
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Peru's Microlenders Growing With Small Businesses
June, 04 2010
Lima, Peru - Many of them started off lending for social projects. Now most of Peru's microlenders are finding a market in lending to rapidly expanding small businesses. Municipal and privately owned "cajas," other specialized lending agencies, and now subsidiaries of big banks are all expanding, aiming to meet the demand in Peru's robust and often informal business sector
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India: World Bank Approves $407 m Loans for Microfinance Projects
June, 03 2010
Washington, DC - The World Bank has approved two projects worth $407 million to India, consisting of a $300 million credit/loan for the Scaling up Sustainable and Responsible Microfinance Project and a $107 million loan for the Statistical Strengthening Loan.
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Philippines: 11 million RP Households Do Not have Bank Accounts
June, 01 2010
Quezon City, Philippines - About two-thirds of Philippine households do not have a bank account, according to Bangko Sentral ng Pilipinas Gov. Amando M. Tetangco Jr., saying this translates to an estimated 11 million households that remain untapped by the banking system
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