Posts Tagged ‘mfi’
Posted on November 3, 2008 - by lincolnw
Indian MFIs face challenge of global meltdown
Financing for the poor is getting more frugal now with microfinance institutions facing the heat of the global financial meltdown. There has been a virtual halt in fresh disbursements to MFIs by banks and financial institutions coupled with over 200 basis points hike in interest rate. It does not end at credit squeeze alone. Banks are also asking for personal guarantees of directors of MFIs.
A few banks have hiked the security margins from 10% to 25% over the loan amount sanctioned to banks. As a result, MFIs are unable to use even sanctioned funds. According to sector trackers, MFI sector may have trouble raising loans till January as banks will try to complete their priority sector lending targets more aggressively only in the last quarter of the fiscal…{click this link to read the rest of the article}
Posted on October 27, 2008 - by lincolnw
Hilton Humanitarian Prize Of $1.5 Million Goes To Bangladeshi NGO
The world’s biggest humanitarian prize has been awarded to BRAC, the largest non-profit organization in the developing world. The 2008 Hilton Humanitarian Prize of $1.5 million honors BRAC, a Bangladeshi-based NGO, for its achievements in helping to eradicate poverty in nine Asian and African countries. Lisa Schlein reports for VOA from Geneva where the award was announced.
Founder of BRAC, Fazle Hasan Abed, said he is particularly honored to receive the Hilton Humanitarian Prize on the International Day to Eradicate Poverty, a day to remember the billions of people living in extreme poverty. He said he and his organization have worked for 36 years for the alleviation of poverty…{click this link to read the rest of this article}
Posted on October 10, 2008 - by lincolnw
Advans SA of Luxembourg Opens Microfinance Insitution in Ghana
PARIS, October 9 - Advans SA, the international venture capital investment company specialised in microfinance, is pleased to announce the launch of its second microfinance institution: Advans Ghana, which opened in New Town Road, Accra, on 9 October 2008. Over the next three years, Advans SA seeks to develop a strong international network of around ten microfinance institutions in Africa, Asia and the Middle-East.
Advans Ghana is a microfinance institution licensed as a Savings and Loan Company, which was incorporated in November 2007 with Advans SA as majority shareholder and KfW, IFC and SG-SSB (the Ghanaian subsidiary of the Société Générale Group) as co-investors. Advans Ghana’s initial share capital is GHS 2.649 million (circa EUR 1.65 million)…{click here to read the rest of this article}
Posted on August 25, 2008 - by James
For-Profit Equitas Raises $12.5M in Equity Cap…
The MFI has raised money from Bellwether Microfinance Fund, Indian Financial Inclusion Fund and MVA Ventures.
Source: VCCircle.com
Chennai-based micro finance lending institute Equitas has received a fresh fund infusion of $12.5 million (Rs 50 crore) which would help it enhance its borrowing capacity for micro finance lending. The capital has been raised through… [click here to read the rest of this article...]
