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Dec 2020
Zimbabwe: Micro-Finance Sector Recovers from COVID-19 Shocks
December, 31 2020
Zimbabwe - The micro-finance sector is recovering from the Covid-19-induced shocks as most of the registered micro-finance institutions (MFI) resumed operations following the relaxation of the lockdown rules ...
J. Peters and M. Sievert, Leibniz Institute for Economic Research: Africa - Grid or Solar: Looking for the Best Energy Solution for the Rural Poor
December, 30 2020
Sub-Saharan Africa - Grid electricity is often said to be critical for long-term human development because it provides sufficient power for appliances and small industries. But are the substantially higher investment costs justified by the economic impact ...
Credit Bureau Asia Launches Myanmar's First Credit Bureau
December, 30 2020
Myanmar - The new Myanmar Credit Bureau will support financial institutions and consumers in Myanmar by implementing a credit reporting system to promote responsible lending, CBA said in a news release ...
ADB, Masdar Sign Debt Package for 100-MW Uzbek Solar Project
December, 29 2020
Uzbekistan - The total amount includes a senior loan of up to USD 20 million from IFC’s own account, up to USD 20 million from Canada-IFC Blended Climate Finance Program and a loan of up to USD 20 million from the ADB ...
India: PE-Backed Suryoday Small Finance Bank Gets SEBI Nod for IPO
December, 28 2020
India - Of the total, Suryoday is likely to raise about Rs 375-400 crore via a fresh issue of shares while International Finance Corporation (IFC), homegrown private equity firm Gaja Capital and US PE firm Americorp Ventures, along with other institutional investors, will cumulatively sell nearly 8.5 million shares ...
J. Unni: India - Impact of Lockdown Relief Measures on Informal Enterprises and Workers
December, 28 2020
India - This article brings into focus segments of the economy that constitute the bottom of the labour hierarchy, namely microenterprises, construction workers, street vendors and domestic workers. Will the relief measure help refigure their livelihoods after the lockdown is lifted? ...
D. V. Pathirana: Sri Lanka - Country Needs a Big Housing Finance Bank
December, 28 2020
Sri Lanka - Based on the last five years’ average growth rate, country’s housing finance market is predicted to reach Rs. 1,300 billion by 2025. But the potential and desired growth and contribution that can be made to economic expansion is much higher than the prediction ...
Southeast Asia: Report Highlights MSMEs Trends after COVID
December, 28 2020
Southeast Asia - The report, “Asean MSMEs in a Covid-19 World,” underlines the best insights culled from the recent series of talks conducted by the Economic Research Institute for Asean and East Asia (ERIA) on how MSMEs can navigate the pitfalls of the pandemic. ...
Pioneering Solar Power Plant to Take off in Uzbekistan with World Bank Support
December, 27 2020
Uzbekistan - The International Finance Corporation (IFC) and ADB are providing up to $60 million in the financing of the project which will be the first large-scale, privately developed and operated renewable energy facility in Uzbekistan ...
Nigeria: Bank of Industry Seals Landmark $1 Billion Syndicated Term Loan
December, 27 2020
Nigeria - The Bank of Industry has announced the successful conclusion of a landmark $1 billion loan syndication transaction, in a bid to improve its capacity to support MSMEs ...
India: Aye Finance Raises $10m Funding in Debt Financing from Catalyst Trusteeship Ltd.
December, 27 2020
India - Aye Finance is a financial technology company that aims to make an economic transformation for Micro and Small enterprises. The Gurugram-based start-up has recently announced to raise USD 10 million funding in its latest debt financing round which was led by Catalyst Trusteeship Limited ...
TPG Leads $210 Million Series D Round in Chinese Edtech Firm Meishubao
December, 25 2020
China - “Inclusive education is one of the key areas of The Rise Fund’s social impact investment, and interactive education is an integral part of getting closer to that objective,” said Sun Chang, managing partner of TPG China, in the statement ...
IFU, Incofin Invest $4.2m in Equity in Ningxia Dongfang Huimin Microfinance of China to Boost Financial Inclusion for Rural Women
December, 25 2020
China - Belgium-based Incofin Investment Management and the government-owned Investment Fund for Developing Countries, which is known by its Danish acronym IFU, recently invested USD 2.1 million each in Ningxia Dongfang Huimin Microfinance Corporation Limited to further Huimin’s provision of financial services to female farmers in China’s Ningxia province ...
EIB Equips Peruvian Dev Bank with USD-100m Loan for SMEs, Climate Projects
December, 24 2020
Peru - The European Investment Bank (EIB) has said it is providing a USD-100-million (EUR 82m) framework loan for Peruvian development bank Corporacion Financiera de Desarrollo SA (COFIDE) to support its financing of small businesses and climate action investment projects ...
AfDB to Accelerate Circular Economy in Africa with Waste Management Initiative
December, 24 2020
Africa - With an initiative funded by the Korea-Africa Economic Cooperation (KOAFEC) focused on waste management, the African Development Bank aims to accelerate the circular economy in Africa, a model which aims to minimise waste and maximise value from resources through the recovery and regeneration of products at the end of their typical service life ...
Africa: Swedfund Makes Follow-on Investment in ADP III
December, 23 2020
Africa - Swedfund has announced an additional $10m investment in African Development Partners (ADP) III to further support the development of the private sector in Africa ...
Mastercard and Carticard Partner to Support Digital Economy and Drive Financial Inclusion in Egypt
December, 23 2020
Egypt - The collaboration is built on Carticard’s existing offering, which issues and manages cards to other microfinance institutions, consumer finance companies, consumers, merchants, and freelancers in cooperation with banks. ...
FINCA Guatemala Receives Smart Certification for Strong Client Protection Practices
December, 23 2020
Guatemala - FINCA Guatemala announced it received Smart Certification in recognition of its commitment to client protection. This designation came after a rigorous independent review process where it was found that it upholds industry-leading client protection standards in providing financial services ...
V. Chaturvedi, CMO, Digit Insurance: India - Importance of SMEInsurance for Entrepreneurs
December, 22 2020
India - With the number of small businesses snowballing, the need for business insurance has also increased. While SME is believed to be an important aspect of the economic development of the nation, SME insurance is still underpenetrated. ...
IFC Extends Microfinance Loans in the Philippines
December, 22 2020
Philippines - The International Finance Corporation (IFC) is extending up to 750 million pesos (US$15 million) in debt financing to two of the Philippines’ largest microfinance institutions, CARD Bank and CARD SME Bank, to help keep businesses afloat and save jobs as the country grapples with the economic impact of the Covid-19 pandemic ...
India: ADB, Northern Arc Sign USD 40 Million Loan to Support Microfinance Borrowers, MSMEs
December, 21 2020
India - Northern Arc Capital Limited will on-lend the loan proceeds and provide guarantees to financial institutions and individual borrowers. It will also on-lend to affordable housing finance companies, ADB said in a statement ...
Somali Solar Providers Can Apply for Grants from $8.5m Pot
December, 18 2020
Somalia - Solar distributors and service providers and microfinance businesses which are rolling out PV systems in Somalia and the self-declared Republic of Somalil and have been offered access to grants from development donors ...
Zimbabwe: Microfinance Sector on Recovery Path
December, 18 2020
Zimbabwe - The quality of the loan portfolio for the microfinance sector is now on the rebound as it is gradually improving since the advent of the Covid-19 pandemic, reflected by a decline in Portfolio at Risk ratio from 19,5% as at June 30, 2020, to 15,36% as at September 30, 2020 ...
Foreign Investors Dash into Emerging Markets at Swiftest Pace since 2013
December, 18 2020
Global - Foreign investors have piled into emerging markets this quarter at the most rapid clip in seven years, offsetting a record exodus from those countries’ stock and bond markets at the start of the coronavirus crisis ...
If COVID-19 Changes Finance, Will That Help Development Funding?
December, 18 2020
Global - As global markets contracted in response to the COVID-19 pandemic, the growth of environmental, social, and governance, or ESG, investing; sustainable investing; and impact investing appears to have accelerated. But whether that potential shift will result in finally unlocking more capital to finance development remains an open question ...
N. Pasricha and S. Baur-Yazbeck, CGAP: How Financial Services Can Help the Poor in the Climate Transition
December, 17 2020
Global - Early evidence gathered by CGAP suggests that the financial sector could play a key role in helping low-income people prepare for and participate in this transition. However, greater coordination among funders and other sector stakeholders is needed to develop a well-functioning, sustainable market for climate transition financial services ...
Tunisia: EBRD Grants ATL Leasing a EUR 5 million Credit Facility
December, 17 2020
Tunisia - The European Bank for Reconstruction and Development (EBRD) announced a €5 million euro to the Arab Tunisian Lease (ATL Leasing) to improve access to financing for micro, small and medium-sized enterprises ...
AfDB Announces $90 Million for Sustainable Energy Fund for Africa
December, 17 2020
Africa - The new SEFA Special Fund is expected to expand, be more flexible, as well as more responsive to Africa’s fast-changing energy market, with a sharper focus on green mini-grids and green baseload, and offering a wider array of catalytic finance instruments ...
IFC and Jive Partner to Support the Expansion of Credit Access for Small and Medium Enterprises in Brazil
December, 16 2020
Brazil - By acquiring distressed assets, the combined capital of IFC and private investors will provide financial institutions with the liquidity needed to break the vicious cycle through which an economic slowdown and increasing distressed assets discourage new lending ...
Cambodia: Credit Restructuring Applications Down
December, 15 2020
Cambodia - The Cambodia Microfinance Association (CMA) said the number of applicants for credit restructuring remained on a significant, encouraging downtrend and augurs particularly well for the finance sector ...
USAID Announces New Partnership with Root Capital, Keurig Dr Pepper, and Ezrah Charitable Trust to Protect Supply Chains and Agribusiness Amid COVID-19
December, 15 2020
Global - The Feed the Future Partnership for Sustainable Supply Chains will help small agribusinesses, particularly those owned or led by women in Latin America, Africa and Asia, navigate operational uncertainties and limited connectivity to markets through business advice, debt relief and a resilience grant fund ...
Creation Investments' Mexico Portfolio Company Te Creemos to Acquire Banco Forjadores
December, 15 2020
Mexico - The new investment in Banco Forjadores reflects Te Creemos' long-term strategy to increase and improve access to financial services for the bottom of the socio-economic pyramid in Mexico ...
Senegalese-Based Solar Energy Startup, Oolu Solar, Raises $8.5m Series B
December, 15 2020
West Africa - The round was led by independent renewable energy developer, RP Global. Other investors that participated include Persistent Energy Capital (PEC), Shell-seeded impact investor All On, Gaia Impact Fund, and DPI Energy Ventures ...
A. Kadam and S. Sampathkumar, The Bridgespan Group: India’s Impact Enterprises Need More Debt Financing to Grow - Here’s How Businesses, Lenders and Regulators Can Make That Happen
December, 15 2020
India - To better understand the challenges Indian impact enterprises face in borrowing money, India Impact Investors Council (IIC) and The Bridgespan Group published a report which identifies barriers to debt financing, and proposes avenues for making debt more accessible. ...
Cambodia: Foreign Bank Expansion into Kingdom Welcome and Well Regulated
December, 15 2020
Cambodia - With more foreign banks entering the market in the Kingdom, questions have been raised as to whether the market will become saturated. ...
U.N. Chief Calls for More Climate Finance for Poor Nations as 2020 Goal Slips
December, 14 2020
Global - Rich nations are “lagging badly” on a longstanding pledge to channel $100 billion a year in funding, from 2020 onwards, to help poorer countries develop cleanly and adapt to the worsening impacts of climate change, the U.N. chief said ...
Pakistan: SECP’s Sandbox — a Game Changer?
December, 14 2020
Pakistan - Financial inclusion is very dependent on the enabling environment that regulators create. In Pakistan, there are three main regulators: the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Telecom Authority ...
Making Housing Affordable and Accessible with Market-based Solutions: Innovative Financing to Address Housing in Tanzania
December, 14 2020
Tanzania - The project showed that private capital, even in less-developed financial markets, can be mobilized successfully through judicious public investments in relatively large volumes, compared to overall credit market size ...
Rwanda and Singapore to Boost Fintech Cooperation
December, 12 2020
Rwanda - The agreement, which was signed in a virtual ceremony, will see the trade ministry involved in the implementation of the international and open platform project, dubbed Business sans Borders (BSB) ...
Mexicans Lack Access to Credit
December, 12 2020
Mexico - Surveys show many Mexicans do not trust banks. Meanwhile, almost 60% work in the informal sector, where they may receive an inconsistent income, in cash. The lack of access affects some more than others—the poor, rural, women and indigenous people ...
S. Dwyer and T. Dosani, Accion Venture Lab: How to Begin Considering a Gender Lens Investing Strategy
December, 10 2020
Global - Implementing a gender lens at an investment fund can be daunting. Start by assessing the gender diversity across four levels of your existing operations to reveal where change is most needed ...
Produbanco to Get $50mn Loans from World Bank’s IFC for Economic Recovery in Ecuador
December, 10 2020
Ecuador - The loan will allow the bank to extend new credit to companies and vulnerable segments of the population whose cash flows have been disrupted by the COVID-19 pandemic ...
Romanian Online Microfinancing Startup Instant Factoring to Expand to Serbia
December, 10 2020
Serbia - Romanian online microfinancing startup Instant Factoring said on Thursday that it will expand its operations to Serbia using part of a 750,000 euro ($907,400) capital injection ...
IFC to Invest $30m in Malaysian Healthcare Startup MiCare
December, 09 2020
Malaysia - MiCare Sdn Bhd, a Malaysia-based healthcare third-party administrator (TPA), will be receiving US$30 million in a proposed equity investment from International Finance Corporation (IFC), according to a disclosure posted on IFC’s website ...
ADB Approves $500 mln Loan for Indonesia Financial Inclusion
December, 09 2020
Indonesia - The Asian Development Bank (ADB) said on Wednesday it had approved a $500 million loan to support the Indonesian government’s push to expand financial access to small enterprises, women and young people ...
ADB Approves $50m to Help Bangladeshi Microenterprises Amid Pandemic
December, 08 2020
Bangladesh - It will help provide loans to at least an additional 30,000 microenterprises affected by Covid-19, 70% of which are women-led ...
Bond to List on SGX That Funds Loans to Women-Focused Enterprises in Developing Countries
December, 08 2020
Southeast Asia - Singapore-based capital firm Impact Investment Exchange (IIX) has priced its US$27.7 million (S$37 million), four-year Women's Livelihood Bond 3 (WLB3) at 3.95 per cent, a company spokesman told The Business Times on Tuesday (Dec 8) ...
AfDB Launches $50m Facility to Support Energy Businesses in Africa
December, 07 2020
Africa - The African Development Bank (AfDB) board of directors has approved a $20 million concessional investment from the Sustainable Energy Fund for Africa (SEFA) to establish the COVID-19 Off-Grid Recovery Platform (CRP) ...
More Investors Get behind Women’s Startups in Africa
December, 07 2020
Africa - Although Africa has the highest rates of female entrepreneurship in the world, there is a funding gap of about $42 billion between men and women entrepreneurs on the continent, according to the African Development Bank. ...
Satin Creditcare Network to Expand in South India
December, 05 2020
India - Microfinance company Satin Creditcare Network Ltd plans to strengthen its presence in the South with the opening of a few more branches, said the company’s Chief Operating Officer K Thangaraju ...
The Story of How Egypt Built One of the World’s Largest Solar Parks
December, 05 2020
Egypt - While economic growth in emerging economies has often been linked with environmental damage, the Benban solar park shows the world that environmental sustainability can improve livelihoods, raise incomes and be socially inclusive ...
Creating a Roadmap for Rural Insurance Development in Colombia
December, 04 2020
Colombia - The ILO’s Impact Insurance Facility is working with the Federation of Colombian Insurers (Fasecolda), and Banca de las Oportunidades, the Colombian government’s financial inclusion programme, to develop a roadmap to promote inclusive rural insurance in Colombia ...
South Africa: SA’s Planet42 Raises $10m in Debt Round to Scale Internationally
December, 03 2020
South Africa - The South Africa-based Planet42, a car subscription company that helps individuals ignored by banks to get access to a personal vehicle, has announced a US$10 million debt funding round to help it scale its operations and move into new markets ...
The Poor Risk Losing Access to Microloans When They’re Most Needed
December, 03 2020
Global - Microfinance can provide low-income people with the money they need to run a small business, but the pandemic is making the loans riskier for them—and their lenders ...
Heifer International and SEAF Announce Agreement to Expand Impact Investing Globally
December, 03 2020
Global - International development organization Heifer International and impact investment management group Small Enterprise Assistance Funds (SEAF) today announced a partnership to increase investments in local food and farming businesses in the United States, Africa, Asia, Central and Latin America ...
Cambodia: Microfinance ‘Bad Loans’ Fall to 2.27% in October
December, 02 2020
Cambodia - The microfinance sector’s nonperforming loan (NPL) ratio decreased from 2.56 percent in September to 2.27 percent in October after rising from 1.33 percent in January and peaking in May at 2.61 percent ...
In Latin America, Farmers Use Microfinance to Fight Climate Change
December, 02 2020
Latin America - Since 2012, the Microfinance for Ecosystem-based Adaptation (MEbA) project has provided technical assistance to financial institutions, helping them disburse more than US$ 29 million in loans to small-scale farmers in Colombia, Costa Rica, Ecuador, El Salvador, Peru and the Dominican Republic ...
India: Paytm Partners with Suryoday Small Finance Bank to Offer Instant Digital Loans to MSMEs
December, 02 2020
India - This is the first lending partnership for Paytm with a small finance bank to help merchants get loans seamlessly ...
Egypt: Sanad Fund Grants Banque du Caire $30mln Subordinated Loan
December, 01 2020
Egypt - The new transaction marks the fund’s first subordinated loan to a bank operating in Egypt after Sanad received its license from the Central Bank of Egypt in July 2020 to provide Tier II capital in the country ...
Armenia: Ameriabank Raises Tier 2 Capital from Symbiotics SA
December, 01 2020
Armenia - Ameriabank has entered into long-term subordinated loan agreement with Symbiotics SA for USD 15 million, with possible increase up to USD 25 million ...

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