Central banks and financial regulators from across the developing world today committed to provide their populations with greater access to financial services by signing the Maya Declaration on Financial Inclusion at the conclusion of the Alliance for Financial Inclusion's Global Policy Forum in Riviera Maya, Mexico.
IFC Capitalization Fund signed agreements today to invest $70 million in Banco Financiera Comercial Hondurena, S.A. (Ficohsa), a leading commercial bank in Honduras, to support lending to the country’s small and medium enterprises.
Among the Bolivian MFIs, BancoSol was the flagship. It started as Prodem. In 1992, Prodem sought a bank license from the Bolivian authorities and created BancoSol, Latin America’s first private commercial bank exclusively devoted to microenterprises. BancoSol’s example spawned a half dozen similar transformations, creating a commercial microfinance sector.
The lull seems to be over. After spending a nine-month hibernation after the Andhra Pradesh MFI crisis, leading private equity (PE) players are again on the prowl to make a fortune in the country's micro finance space as the sector is crawling back to normalcy.
Impact investors, together with the U.S. Agency for International Development (USAID), today announced a first-of-its-kind effort to invest USD 25 million of commercial capital with the only private investment manager in sub-Saharan Africa focused exclusively on growing small and medium-sized enterprises in the agriculture sector.