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How Blended Finance Can Accelerate MSME Growth in Africa
August, 31 2020
Sub-Saharan Africa - To meet the staggering gap in funding to support MSMEs in the region, there needs to be a greater adoption of innovative forms of financial structuring like blended finance to incentivize commercial investors to invest in MSMEs working towards a sustainable and prosperous Africa ...
Sri Lanka: NBFIs - Mergers on the Cards
August, 30 2020
Sri Lanka - The regulator has been saying that it wants to limit the number of non-bank financial institutions to around twenty from the current 46 finance companies and leasing companies. The Central Bank also stated that the Micro Credit Act will be replaced with a new Act for better regulation of the microcredit sector ...
EFSE Lending 7mln Euro to Garanti BBVA Leasing to Finance Romanian MSEs
August, 27 2020
Romania - The European Fund for Southeast Europe (EFSE) said on Thursday that it has provided a senior loan of 7 million euro ($8.27 million) to Garanti BBVA Leasing, part of financial group Garanti Romania, to expand financing opportunities for micro and small enterprises (MSEs) in Romania ...
Total Eren Seeks EBRD Debt for 100-MW Solar Project in Uzbekistan
August, 25 2020
Uzbekistan - According to the EBRD, the project will be one of the first two privately-owned power sector projects in Uzbekistan. The Central Asian nation has set a goal to lift the share of its installed renewables capacity by up to 5 GW in the next 10 years ...
ADB Approves $300m Loan to Support Philippines' Financial Inclusion Reforms
August, 21 2020
Philippines - The Asian Development Bank (ADB) has approved a $300 million policy-based loan to support the Philippine government's efforts to boost inclusive growth by implementing reforms to expand Filipinos' access to financial services, especially in unserved and underserved areas across the country ...
Nigeria: FMDQ Lists LAPO MfB’s N6.2bn Bonds
August, 18 2020
Nigeria - LAPO Microfinance Bank Limited has returned to the Capital Market for the second time in 2020 for a N6.2 billion debt capital raising through bonds issuance ...
Ethiopia Allows Local Banks to Borrow from Foreign Banks
August, 18 2020
Ethiopia - The decision of NBE the country followed the chronic foreign currency shortage the country has been facing for many years. In a related development, NBE has also introduced a directive that will allow microfinance institutions in the country to upgrade themselves into banks ...
EBRD to Finance Agribusiness in Five Countries Including Egypt with $200mln Loan
August, 18 2020
Global - The European Bank for Reconstruction and Development (EBRD) has handed a $200 million loan to Olam International Limited, a leading global trader in agricultural commodities, to strengthen the agribusiness value chain and trade in five economies across the Eastern Mediterranean, Eastern Europe and the Black Sea region ...
US Impact Fund SEAF Invests in Philippine Startup CloudCfo
August, 17 2020
Philippines - CloudCfo, a provider of online accounting, bookkeeping, and finance services for SMEs, has received an undisclosed amount of capital from the impact investing fund manager Small Enterprise Assistance Fund (SEAF), the Philippines-based company announced on Sunday ...
Blended Finance Is Struggling to Take Off
August, 15 2020
Global - Since 2014 the flow of public and private capital into blended projects and funds has stayed flat at about $20bn a year, according to data from Convergence, a non-profit organisation. That is far off the goal of $100bn set by the UN in 2015 ...
Four Ways Microfinance Institutions Are Responding to COVID-19
August, 13 2020
Global - The figures of the CGAP Global Pulse Survey of Microfinance Institutions paint the picture of a microfinance sector that is under significant strain but responding with flexibility, offering breathing room for both clients and staff while building out new ways to reach customers remotely. ...
Kenya: DTB Receives $50 Million Covid-19 SME Support from IFC
August, 12 2020
Kenya - Diamond Trust Bank Kenya Limited (DTB) has signed an agreement for a $50 million loan with IFC, a member of the World Bank Group, to support its borrowers who have been affected by the COVID-19 pandemic, especially small and medium enterprises (SMEs) ...
More Than Two Dozen Funds Investing in Tropical Forests and Communities
August, 12 2020
Global - More than two-dozen investment funds are making investments in tropical forests and communities. The funds have at least $2.6 billion in capital to invest in firms and projects generating revenue from tropical forestry and agriculture products and benefiting smallholder farmers and forest-dependent communities ...
AgFunder Launches Impact Fund for Asia Agrifood Tech Startups
August, 11 2020
Asia - San Francisco-based venture capital firm AgFunder launched its GROW accelerator in Singapore last year to support Asia’s agrifood tech ecosystem. It’s now adding an impact fund to support seed and Series A ventures, including companies from GROW’s first cohort ...
Pakistan: SBP Revises Regulations for Microfinance Banks
August, 07 2020
Pakistan - The State Bank of Pakistan (SBP) on Thursday revised a range of regulations for microfinance banks such as up-scaling maximum loan sizes upto Rs350,000 for general loans and Rs3,000,000 for housing loans to serve financing needs of the low-income segments ...
MDBs’ Climate Finance in Low- and Middle-Income Countries Reaches $41.5bln
August, 07 2020
Global - Climate financing by seven of the world’s largest multilateral development banks (MDBs) accounted for $61.6 billion in 2019, of which $ 41.5 billion or 67% was in low- and middle-income economies, according to the 2019 Joint Report on Multilateral Development Banks’ Climate Finance ...
Georgia: EIB to Lend EUR 10 Million to Credo Bank to Support MSME
August, 03 2020
Georgia - The loan from the EU bank will be available to MSMEs in synthetic local currency to shield them from risks related to the depreciation of the currency. A grant from the European Union will complement the EIB loan to promote the local currency financing and cover part of the foreign exchange risk-related costs ...