18 June 2024


Jun 18
India: Microfinance Entities on Overseas Borrowing Spree
Unlike bank borrowings, ECBs come with bullet repayment, meaning the loan is repaid at the end of the tenure. This helps microfin firms improve cash flow and use their collections to build their portfolios, as repayments are made only at the end of the loan tenure. RBI data show ECB fundraising by microfin entities jumped fivefold year-on-year to a record high of $388 million (around Rs 3,500 crore) in FY24.
Source: Financial Express
Jun 17
Japan: Fujitsu Ventures Starts Impact Investing
Fujitsu Ventures, the corporate venture capital arm of Japanese IT and electronics group Fujitsu, has added impact investing to its mandate. Last month, the unit made its first impact investment in Gojo & Company, a Tokyo-headquartered microfinance company that helps underbanked and low-income households in developing countries like Sri Lanka, Myanmar, Cambodia, India and Tajikistan access financial services.
Source: Global Corporate Venturing
Jun 17
Multilateral Coalition of Public and Private Sector Investors Pledges $20 Billion for Women’s Economic Empowerment under 2X Challenge
The announcement came at the close of the G7 Leaders’ Summit in Italy. The 2X Challenge 2024-2027 marks the first time that private investors will be a part of the initiative, which has expanded to include the full spectrum of capital providers.
Source: ESG News
Jun 14
Inspired Evolution Raises $23M for Energy Transition in Africa
Asset manager Inspired Evolution has announced the second financial closing of its Evolution III fund. The deal, which attracted around ten investors, will support the energy transition in Africa.
Source: Afrik21
Jun 14
African, Inter-American Development Banks on $20 Bln IMF Reserve Asset Donor Drive
The heads of the African and Inter-American Development banks are touring North America, the Middle East, Korea and Brazil in a bid to secure $20 billion of IMF reserve assets which they want to turn into $80 billion of climate financing.
Source: Reuters
Jun 14
Brookfield, Alterra Launch $5 Billion Emerging Markets Climate Transition Fund
The new fund, to be managed by Brookfield, is being launched with a $1 billion anchor commitment from ALTÉRRA, with a target to catalyze up to $5 billion in total capital. Brookfield has also committed to contribute at least 10% of the fund’s total capital.
Source: ESG Today
Jun 14
Philippines: IFC Investing $100 Million in CitySavings Social Bond
The International Finance Corp. (IFC) is investing $100 million in the social bond issued by Aboitiz Group’s thrift bank City Savings Bank Inc. In a statement yesterday, the private sector arm of the World Bank said CitySavings is the first thrift bank to issue a social bond in the country.
Source: Philstar Global
Jun 13
IDF and AFD Group Form IDRIMA to Enhance Climate Resilience
The Insurance Development Forum (IDF) and the French Development Agency Group (AFD Group) have formed the Integrated Disaster Risk Management Alliance (IDRIMA). The partnership aims to enhance long-term resilience against climate disasters in the Global South by integrating robust financial solutions.
Source: Fintech Global
Jun 13
World’s Largest Gender-Lens Fund Starts Operating with New Investment Strategy to Help Address the USD 1.7 Trillion Gender Gap
Building on a successful 15-year track record, the Microfinance Enhancement Facility (MEF), initially founded in 2009, was transformed into the Global Gender-Smart Fund (GGSF) on 1 January 2024, introducing a new gender-focused strategy as well as a new structure.
Source: Innpact
Jun 12
Clarmondial, Rainforest Alliance Cooperate on Mount Kenya Impact Investment
The Rainforest Alliance in Kenya and Swiss-based impact investor Clarmondial will jointly execute a catalytic pilot investment for the Biosphere Integrity Fund in the Mount Kenya landscape, a biodiversity hotspot that’s home to more than 700 plant species as well as endangered and rare animals such as the black rhino and albino zebra.
Source: Impact Investor

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