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Dec 2019
IFC, DEG Offer Debt Funding to Chinese Microfinance Firm CD Finance
December, 24 2019
China - Chinese rural-focused microfinance provider CD Finance has raised debt funding of $30 million from DEG, a subsidiary of German state-owned development bank KfW ...
LOLC Finance Secures $10m New Cross-Border Funding from Swedfund
December, 23 2019
Sri Lanka - LOLC Group subsidiary, LOLC Finance PLC (LOFC) has signed a loan agreement with Swedfund, the Swedish Government’s Development Finance Institution (DFI) to receive a total of $ 10 m in a deal facilitated by UK and US based Emerging Markets Global Advisory Ltd. (EMGA). ...
Georgia: EIB Approves EUR 15 Mln Loan to JSC Liberty Bank
December, 23 2019
Georgia - The European Investment Bank (EIB) and JSC Liberty Bank, signed a Loan Agreement within the framework of the EU4Business Initiative. Funds under this facility will be used to finance Small and Medium Enterprises operating in Georgia. ...
IFC Invests in Raiffeisen Bank Romania to Expand Access to Finance for SMEs and Green Homes
December, 23 2019
Romania - IFC, a member of the World Bank Group, is providing a financing package of RON 720 million (USD $168 million equivalent) to Raiffeisen Bank Romania to boost financing for small and medium enterprises (SMEs), climate, and housing—three underserved segments in Romania’s economy ...
IFC Invests in BT Leasing to Boost Access to SMEs and Sustainable Energy Finance in Romania
December, 23 2019
Romania - IFC is the lead investor in a bond issued by the company, which has raised EUR 40 million with the participation of other private investors. ...
India: ESAF SFB to File Papers for IPO
December, 22 2019
India - Kerala-based ESAF Small Finance Bank (SFB) is set to file a draft prospectus by December-end for a ₹1,000 crore initial public offering (IPO), two people aware of the matter said, requesting anonymity ...
ERBD Issues $20m Credit Line to Ipoteka Bank of Uzbekistan to Increase Microfinance, SME Lending
December, 20 2019
Uzbekistan - Micro-, small, and medium-sized enterprises (MSMEs) in Uzbekistan are due to gain increased access to financing due to a loan in the amount of EUR 18 million (USD 20 million) provided by the UK-based European Bank for Reconstruction and Development (EBRD) to one of Uzbekistan’s largest banks Ipoteka Bank. ...
Uganda, Ghana, Botswana Top on Women Business Owners in the World - Mastercard Index
December, 19 2019
Sub-Saharan Africa - The third edition of the Mastercard Index of Women Entrepreneurs (MIWE) has listed three African countries as global leaders in terms of women-owned businesses. Uganda, Ghana and Botswana are ranked as the top three countries with the highest percentages of women-owned businesses across the 58 markets evaluated around the world ...
Nigeria: CBN Issues Licences to 15 Mobile Money Operators
December, 19 2019
Nigeria - The Central Bank of Nigeria has issued licences to 15 mobile money operators as part of its drive towards increasing financial inclusion ...
Oikocredit Opens India Fintech Account with Bet on Neo-bank Kaleidofin
December, 19 2019
India - Kaleidofin Pvt. Ltd, which operates an eponymous neo-bank focussed on the informal sector, has raised Rs 36 crore (about $5.06 million) in a Series A funding round led by financial inclusion-focussed impact investor Oikocredit ...
M. McCormick, CEO, OZÉ: How to Turn Africa’s Entrepreneurial Spirit into Real Economic Growth
December, 19 2019
Global - Africa is the world’s most entrepreneurial continent. According to the African Development Bank, more than 1 in 5 working-age Africans are starting businesses. For women, it’s more than 1 in 4. Unfortunately, these entrepreneurs are likely to have been forced into entrepreneurship by necessity rather than opportunity ...
Bank of Georgia Agrees USD107 Million Loan with Dutch Development Bank
December, 17 2019
Georgia - Bank of Georgia Group PLC said Tuesday its subsidiary has signed a 10-year USD107 million subordinated syndicated loan agreement with a number of lenders, arranged by Dutch development bank Netherlands Development Finance Co ...
Microfinance Grows In India’s Poor, Rural Regions: The Case of Troubled Bihar
December, 17 2019
India - Microfinance, the offering of small loans to poor clients who have no access to conventional lenders, has helped lift tens of millions of people in India out of poverty ...
AIIB Allocates USD 200m for Renewables, Energy Efficiency in Turkey
December, 17 2019
Turkey - The bank will be providing long-term financing to privately owned companies in the country through the Development and Investment Bank of Turkey. Funds will be used for projects based on wind, solar, geothermal and biomass sources as well as energy efficiency schemes ...
SMBC Buys Stake in Indian Lender with Eye to Microfinance
December, 17 2019
India - Japan's Sumitomo Mitsui Banking Corp. has acquired a 5.4% stake in Indian nonbank lender Northern Arc Capital, as part of an effort to reach more underserved borrowers in Asia's third-largest economy ...
EU Overcomes Nuclear Divide to Reach Key Green-Finance Deal
December, 16 2019
EU - The European Union agreed on a landmark green-finance regulation, advancing the bloc’s push to embed environmental goals in standards for banks, money managers and insurers ...
EBRD Lends 58mn Euro to Finance Construction of Kosovo's Biggest Wind Farm
December, 16 2019
Kosovo - The wind farm - the largest private sector project that the EBRD has signed in Kosovo to date - will represent about 10% of the country’s installed capacity when complete, the bank said. ...
S. Varma, A. Boulton and U. Akhtar, Bain & Company: Sustainability Investing Takes Off in Southeast Asia
December, 16 2019
Southeast Asia - Private equity and venture investors in Southeast Asia are betting on something new — sustainability. Bain research shows a significant increase in capital flowing to companies that contribute to environmental and social progress ...
Myanmar: New Microfinance Bill Submitted for Approval
December, 16 2019
Myanmar - "The bill aims to support people in rural areas, eradicate illegal loan associations and provide financial assistance to local businesses involved in agricultural and livestock activities", said the Member of Parliament who submitted the draft bill ...
India: Fourth Partner Energy Secures $50mn Revolving Credit Facility from Bank of America
December, 16 2019
India - This is Bank of America’s first locally denominated loan for commercial and industrial solar financing in India as part of its global Environmental Business Initiative, which will help expand Fourth Partner’s distributed solar business ...
India: Equitas Small Finance Bank Files Papers for ₹1,000 Crore IPO
December, 16 2019
India - Equitas Small Finance Bank Ltd, on Monday, filed its so-called draft red herring prospectus with the markets regulator, becoming the third small finance bank to file for an initial public offering (IPO) ...
D. Solomon, Goldman Sachs CEO: Goldman Sachs’ Commercially Driven Plan for Sustainability
December, 15 2019
Global - Over the next 10 years, Goldman Sachs will target $750bn of financing, investing and advisory activity to nine areas that focus on climate transition and inclusive growth ...
USAID, Awash Bank Provides US$6.4m to Agricultural Businesses in Ethiopia
December, 13 2019
Ethiopia - Private capital sources are essential to enable local microfinance institutions to expand lending to individuals and small businesses, particularly smallholder farmers and Productive Safety Net Program (PSNP) clients ...
Here’s How Community Lending Could Help Refugees Find Their Feet
December, 12 2019
Global - Entrepreneurship is often proposed as the ideal way for refugees to achieve financial independence; while others say savings and lending services is the key. The ideal solution may, in fact, be a blend of those two approaches working in tandem ...
N. Chehade and P. Zetterli, CGAP: How Fintechs Could Digitize Store Credit in the Arab World
December, 11 2019
MENA - CGAP’s research suggests that store credit is especially prevalent in the Arab world, and there may be an untapped opportunity for fintechs to digitize this form of lending in a way that adds value for merchants and customers ...
Nasdaq Offers Fund Managers a Green Bonds Beauty Parade
December, 10 2019
Global - Nasdaq, the US stock exchange group, has launched a public platform for companies and governments to publish details about the sustainable bonds they issue in order to give fund managers more information when they invest ...
EBRD, GCF Roll Out Climate Finance Line for Serbia’s UniCredit Leasing
December, 10 2019
Serbia - EBRD revealed they secured EUR 20 million for climate mitigation and resilience projects through UniCredit Leasing Srbija Doo. The leases will cover investments in technologies such as energy-efficient agricultural, commercial, drip irrigation and rainwater harvesting equipment ...
Philippines-Based AC Energy Launches $400 Million Green Bonds
December, 10 2019
Philippines - The aggregate principal amount is $400 million, with a fixed coupon of 5.6% for life. This marks the first-ever dollar-denominated fixed-for-life green bond ever issued in the world, according to the company ...
$120m Growth Fund to Boost African Off-Grid Solar Power Companies
December, 10 2019
Sub-Saharan Africa - The Shell Foundation together with the Dutch entrepreneurial development bank, FMO, have announced the launch of the $120 million Energy Entrepreneurs Growth Fund (EEGF), with an initial close of $45 million, providing catalytic financing for early to growth stage companies in sub-Saharan Africa operating in the access to energy ecosystem ...
Sri Lanka’s LOLC Prepares to Sell Its Biggest Overseas Unit
December, 09 2019
Sri Lanka - LOLC Holdings Plc, Sri Lanka’s second-largest publicly traded company by revenue, plans to sell its stake in a unit in Cambodia and use the proceeds to fund acquisition of microfinance firms in emerging markets from Brazil to India ...
Foundations and Family Offices Create a Fund to Support Impact Investing
December, 05 2019
Global - Key investors and philanthropic supporters of impact investing have joined forces to announce a new grant-making vehicle intended to strengthen the integrity of investing practices for social and environmental good, and to scale the movement to reach a broader array of investors. ...
African Development Bank to Launch $270m Fund for Social Impact Investors
December, 05 2019
Sub-Saharan Africa - The Social Investment and Impact Fund for Africa, raised from the European Union and from other development finance institutions, was agreed just last week. It will provide guarantees and equity investments of between $2.3 and $5m to intermediaries that finance social businesses, as well as grants for technical assistance. It will not invest directly into social enterprises ...
Green Bonds Set for Shake Up as EU Agrees Rules for Sustainable Financial Products
December, 05 2019
Europe - The $200 billion green bond market is set for a shake up after the European Union on Thursday reached a deal on a new set of rules governing which financial products can be called “green” and “sustainable” ...
N. Lee, Senior Policy Fellow, Center for Global Development: Here’s How Countries Might Actually Reach the UN Sustainable Development Goals
December, 04 2019
Global - Instead of the senior lending that dominates DFI operations, a stretch fund would deploy more subordinated products like equity, junior debt, and guarantees. By taking on more risk, these open up space for more risk-averse investors ...
B. Chakravorti and R.S. Chaturvedi, Tufts University: Research - How Technology Could Promote Growth in 6 African Countries
December, 04 2019
Africa - We wondered whether the true acceleration potential for the region lies in the rapid spread of mobile digital technology, which would help the region “leapfrog” ahead in its economic development. At the Tufts Fletcher School, in a research project funded by the Mastercard Impact Fund administered by the Mastercard Center for Inclusive Growth, we examined this proposition ...
Could Agriculture and Forestry Be the New Frontier for Green Bonds?
December, 04 2019
Global - As the green bond market continues to expand, and pressure on the agricultural and forestry sectors to sustainably increase production grows, green bonds targeting land use could become a larger feature in the market. However, there are challenges to overcome--not least, the scale of greenhouse gas (GHG) emissions from the sector ...
EM Debt in the 2020s — Investing in an Unstable World
December, 04 2019
Emerging markets - Emerging Market debt is closing the decade on a strong footing. With double-digit total returns and below-average volatility, investors have enjoyed a solid performance this year, prompting capital to flood back into the asset class after a difficult 2018 ...
Migo Raises $20m to Help Provide Digital Credit in Nigeria & Brazil
December, 03 2019
Nigeria & Brazil - An estimated 90 million adults in Nigeria and 100 million adults in Brazil have no access to credit. As such, the company views the sector as “a massive area of untapped growth for emerging market banking ecosystems. ...
ADB Loans to Help Improve Access to Housing Finance in Uzbekistan
December, 03 2019
Uzbekistan - The Asian Development Bank (ADB) has approved $200 million in loans that will help the Government of Uzbekistan reform its housing finance programs and provide families with more affordable mortgage products, ADB’s Country Office in Uzbekistan said ...
Europe Set to Overhaul Its Entire Economy in Green Deal Push
December, 02 2019
Europe - The European Union is gearing up for the world’s most ambitious push against climate change with a radical overhaul of its economy ...
India: Ujjivan Small Finance Bank IPO Subscribed 1.62 Times on Day 1, Retail Portion by 8.6x
December, 02 2019
India - The public issue comprises a fresh issue of Rs 750 crore, will close on December 4. The company has fixed a price band at Rs 36-37 per share for the IPO ...
India: IFC Invests $200m in Mahindra Finance to Create a Pool to Fund MSMEs
December, 02 2019
India - World Bank Group’s subsidiary International Finance Corp (IFC), on Monday, invested $200 million in Mahindra & Mahindra Financial Services Ltd (Mahindra Finance), as part of its plan to create a dedicated pool of financing for micro, small and medium enterprises (MSMEs) in low-income states ...
S. Khanna, Greenlight Planet, and M. Padmanabhan, Pollinate Group: Beyond the Bottom Line - How Changing the Supplier-Distributor Dynamic Creates Better Products for People Living in Poverty
December, 02 2019
Global - Too often supplier and distributor relationships are purely transactional, one-way and unresponsive. However, what customers living in poverty need is to be served by true partnerships that continually focus on the end user ...
Ethiopia to Keep Banking Sector Only for Domestic Investors - Draft Law
December, 02 2019
Ethiopia - Ethiopia will not open up its banking and insurance firms to foreign ownership even as it clears the way for overseas investors to buy into other sectors of its economy, a draft law seen by Reuters on Monday showed ...

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