The loan is intended to boost its services to micro-, small, and medium-sized enterprises – especially in rural areas – to “improve financial inclusion and contribute to Kazakhstan’s recovery from the COVID-19 pandemic.”
Finamiga plans to use the wholesale loan to fund 4,000 retail agricultural loans and 1,000 motorcycle loans.
ADA to Promote Financial Inclusion in Niger via Improved Product Design, Supervision, Funding Framework
The initiative is part of a larger LuxDev effort in Niger that has a total budget of EUR 145 million (USD 156 million).
Catalyst will provide each firm with an investment as large as GBP 80,000 ($105,000) and arrange non-financial support from the staff of BFA and various partner investment and consulting firms.
Grameen Credit Agricole Foundation Lends $3.7M to Assilassimé Solidarite of Togo, Agora Microfinance Zambia
The foundation has announced its disbursal of local-currency loans to Togo-based Assilassimé Solidarite in an amount approximately equivalent to $2.5 million and Agora Microfinance Zambia in an amount approximately equivalent to $1.2 million.
FINCA Impact Finance, a US-based network of financial institutions, recently carried out several campaigns catering to low-income people through its affiliates in Africa and Asia.
The government previously allocated NGN 2.3 trillion (USD 6 billion) to pandemic relief efforts, including microfinance and other programs.
These loans are intended to support 9,100 people, 90 percent of whom are women, whose livelihoods have been threatened by the effects of the COVID-19 pandemic.
AFD loans $356M to IFAD to assist rural farmers in developing sustainable agriculture, accessing microfinance, fighting hunger, responding to climate change, enduring COVID-19 pandemic.
Banco W Issuing $40M “Social Bond,” Funded by IDB Invest to Promote Gender Equity in Colombia via Microfinance
The funds are slated to reach 25,000 female-led microenterprises and support the “development of the capital markets and thematic bonds in Colombia.”