MICROCAPITAL BRIEF: European Commission (EC) Launches EaSI-MicPro, a New Online Information on Microcredit ProvidersNovember 4, 2015 - 9:29am from MicroCapital
The European Commission (EC), the executive body of the European Union (EU), recently launched EaSI-MicPro, a new online platform where microcredit providers can present information about their operations. The target audience includes both microentrepreneurs and investors. Appearing on the platform indicates that the microcredit provider has agreed to act in accordance with the EU Code of Good Conduct, assuring investors of the credibility of the reporting standards implemented by the ...
MICROCAPITAL BRIEF: European Commission, European Investment Fund (EIF) to Guarantee $261m through European Programme for Employment and Social Innovation (EaSI), Supporting 20,000 Microenterprises via Romania’s Nextebank, 5 Western European MicrofinanceNovember 2, 2015 - 4:45am from MicroCapital
The European Commission, the European Union’s executive body; the European Investment Fund (EIF), an EU-affiliated provider of finance to organizations that lend to small and medium-sized enterprises (SMEs); and six European microfinance institutions (MFIs) recently signed guarantee agreements under the European Programme for Employment and Social Innovation (EaSI), an initiative that supports “the modernisation of employment and social policies,” job mobility, microfinance, ...
0October 22, 2015 - 6:21pm from Private Sector Development Blog
Cities are the future. They are where people live and work. They are where growth happens and where innovation takes place. But they are also poles of poverty and, much too often, centers of unemployment. How can we unleash the potential of cities? How do we make them more competitive? These are urgent questions. Questions, as it turns out, with complex answers – that could potentially have huge returns for job creation and poverty reduction. Cities ...
MICROCAPITAL BRIEF: Deutsche Bank Raises $100m for Microfinance Investment Vehicle European Fund for Southeast Europe (EFSE)September 18, 2015 - 7:33am from MicroCapital
Deutsche Bank, a Germany-based financial services company, recently announced that it had raised USD 100 million from unspecified private investors for the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV). The funds will be used to “long-term” investments in microfinance institutions (MFIs) for on-lending to micro-, small and medium-sized enterprises (MSMEs) as well as to low-income households in order to facilitate the purchase ...
0September 7, 2015 - 3:00pm from The Microfinance Research Blog
People all over the world were horrified last week when they saw the picture of a dead Syrian child, Aylan Kurdi, being picked up from the beach in Turkey. His family’s attempt to escape the brutal civil war in their country had ended in tragedy. From Calais to Kos to Lampedusa, the blogging community has been following the refugee crisis in Europe — as well as the conflicts that feed it — as it rapidly escalated over the past two years, and especially this past summer. Here are ...
0September 4, 2015 - 1:28pm from Private Sector Development Blog
The urgent challenge of generating jobs and incomes – as the world’s
0September 2, 2015 - 12:27pm from Innovations for Poverty Action Blog
Editor's note, this is a cross posting by CGAP, which originally appeared on their blog. IPA, CGAP and others will be partnering to address these issues in the upcoming Responsible Finance Forum. "A massive data breach at All-In-Pay, a digital payments provider ...
0August 19, 2015 - 6:06pm from CGAP Microfinance Blog
Undoubtedly, Turkey has a lot to offer when it comes to its payment system, which is typical for countries that have experienced sustained periods of inflation and therefore put a premium on the efficiency of its payments infrastructure. Yet it is much less obvious whether the prevailing models will also contribute much to digital financial inclusion, as they often suffer from challenges in customer adoption and therefore reach only a minority of the population.
0August 17, 2015 - 2:26pm from CGAP Microfinance Blog
In Turkey almost all businesses are micro, small or medium-sized enterprises (MSME), and only 0.1 percent of businesses are large firms, according to the Turkey Agency for Statistics.
MICROFINANCE EVENT: 18th Microfinance Centre Annual Conference, Prague, Czech Republic, November 5-6, 2015August 14, 2015 - 5:05am from MicroCapital
Event Name: Employment, Youth and Investment: What can Microfinance do? Event Date: November 5-6, 2015 Event Location: Corinthia Hotel, Prague, Czech Republic Cost: The fee to attend is USD 373 before September 10, USD 430 from September 11 to October 26, and USD 486 at the door. Summary of Event: The 18th annual MFC conference will center on the theme of “employment, youth and investment”, including how the microfinance sector can “get the European and global ...
0August 11, 2015 - 9:28pm from CGAP Microfinance Blog
With almost 75 million residents (World Bank data as of 2013), Turkey is one of the largest upper middle-income countries with a vast potential to expand financial inclusion. Turkey currently holds the G20 presidency and has declared financial inclusion to be one of its priorities as a powerful driver of inclusive growth.
MICROCAPITAL BRIEF: Green For Growth Fund Disburses $22m to ProCredit Bank Serbia to Support Lending for Energy Efficiency ProjectsAugust 11, 2015 - 7:11pm from MicroCapital
The Green for Growth Fund, Southeast Europe (GGF), a Luxembourg-based investment vehicle that supports energy-efficient initiatives in Southeast Europe, recently disbursed a senior loan of EUR 20 million (USD 22 million) to ProCredit Bank Serbia (PBS), a commercial bank that is specialized in lending to micro-, small and medium-sized enterprises (MSMEs) in Serbia. PBS is a unit of ProCredit Holding, which is based in Germany and operates financial institutions in 19 countries in Eastern ...
MICROCAPITAL BRIEF: SANAD, Bankmed Partner to Support Small, Medium-sized Enterprises (SMEs) in LebanonJuly 6, 2015 - 5:05am from MicroCapital
The Sanad Fund for MSME (micro-, small and medium-sized enterprise) (Sanad), a Luxembourg-based organization that provides “medium- and long-term” debt and equity to financial institutions in the Middle East and North Africa region, has recently announced the disbursement of a loan of USD 15 million to Bankmed, a Lebanese commercial bank regulated by the Central Bank of Lebanon. The aim of the loan is to support the expansion of Bankmed’s lending activities to small and medium-sized ...
MICROCAPITAL BRIEF: European Commission, European Investment Fund (EIF) to Guarantee $107m Through European Programme for Employment and Social Innovation (EaSI), Expect to Generate $213m in Loans to European Social and Micro-enterprisesJuly 2, 2015 - 5:03am from MicroCapital
The European Commission, the European Union’s executive body, and the European Investment Fund (EIF), an EU-affiliated provider of finance to organizations that lend to small and medium-sized enterprises (SMEs), recently partnered to introduce the European Programme for Employment and Social Innovation (EaSI). The program has a total budget of EUR 193 million (USD 213 million), which is to be used to support “microfinance and social entrepreneurship.” Of this, EaSI will provide guarantees ...
MICROCAPITAL BRIEF: Black Sea Trade and Development Bank to Loan $7m to FINCA Georgia for On-lending to Micro- and Small EnterprisesJuly 1, 2015 - 9:40pm from MicroCapital
FINCA Bank Georgia (FINCA Georgia), the Georgia-based subsidiary of the Foundation for International Community Assistance (FINCA International), a US-based nonprofit microfinance organization, recently announced that it has entered into an agreement with the Greece-based international financial institution Black Sea Trade and Development Bank (BSTDB), to receive a loan of USD 7 million. The loan is intended to be used for on-lending to micro- and small enterprises that operate in the ...
0June 30, 2015 - 5:30pm from The Microfinance Research Blog
You might have noticed the rainbow banner across the top of WordPress.com over the weekend — our way of marking Pride month, celebrated by cities across the globe in June, as well as the US Supreme Court’s ruling legalizing same-sex marriage across all states. (The United States now joins 20 other countries, including my own, Portugal, in fully recognizing same-sex marriage nationwide.)
MICROCAPITAL BRIEF: European Union (EU), European Bank for Reconstruction and Development (EBRD), Turkish Government to Loan $380m to 15k Female Entrepreneurs in Northwest TurkeyJune 12, 2015 - 11:14pm from MicroCapital
The European Union (EU), the UK-based, multilateral European Bank for Reconstruction and Development (EBRD) and the Turkish government have partnered to introduce the Finance and Advice for Women in Business Programme in the northwest region of Turkey. EBRD plans to provide up to EUR 300 million (USD 337 million) in credit lines to banks on-lending to women-led businesses. EU, the Turkish Ministry of Labour and Social Security, and the Turkish Employment Agency plan to offer mentoring and ...
0June 11, 2015 - 1:34pm from CGAP Microfinance Blog
Since the start of the Syrian crisis in 2011, almost 15% of the Syrian population – more than three million – have fled their homes to find refuge in Turkey, Lebanon, Jordan, Iraq, and Egypt. In addition to the psychological trauma, their livelihoods have been threatened.
MICROCAPITAL BRIEF: European Fund for Southeast Europe (EFSE), International Finance Corporation (IFC) Loan $97m to Alternatifbank of Turkey for On-Lending to Micro, Small Enterprises (MSEs); Energy Efficiency; Renewable EnergyMay 19, 2015 - 5:03am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), and the International Finance Corporation (IFC), a member of the US-based World Bank Group that seeks to increase economic growth in developing countries, recently announced that the two organizations will disburse a senior loan of USD 97 million to Alternatifbank (ABank), a private commercial bank in Turkey. EFSE’s share of the multipurpose credit facility is USD 22 million, an amount ...
MICROCAPITAL BRIEF: EFSE Lends $7.8m to Microfinance Institutions Mikrofin of Bosnia and Herzegovina, Opportunity Bank SerbiaMay 7, 2015 - 4:30pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle focusing on Southeast Europe and Central Asia, recently invested in two microfinance institutions (MFIs) in an effort to support micro- and small enterprises: Mikrofin, an MFI in Bosnia and Herzegovina with a network of 64 offices; and Opportunity Bank Serbia (OBS), a member of US-based Opportunity International, which is active in in 22 countries. The loan amounts were EUR 5 million (USD 5.6 ...