7 May 2024


May 7
India: ResponsAbility to Invest up to $35 Million in AMPIN Energy Transition
“This investment represents responsAbility’s most substantial commitment to climate financing to date and will help AMPIN in growing its renewable energy portfolio across India. This is a significant step in responsAbility’s mission to mobilise capital and invest in solutions that generate positive societal and environmental impact in emerging markets,” AMPIN said.
Source: The Hindu Business Line
May 6
Kenya: African Guarantee Fund, KWFT Ink Deal to Strengthen Women Access to Finance
African Guarantee Fund (AGF) has signed a Sh725 million risk-sharing partnership agreement with the Kenya Women Microfinance Bank (KWFT). The move aims to boost financial inclusion for Women-led or owned Small and Medium Enterprises (WSMEs) in Kenya.
Source: The Star
May 6
IFC and Triple P Capital Partner to Boost Non-Life Insurance Coverage for Small Businesses and Vulnerable Households in the Philippines
To grow the non-life insurance market in the Philippines for small businesses, IFC today announced it is investing up to $10 million in a special purpose vehicle, joining a consortium of investors led by Triple P Capital—an investor in Southeast Asian financial services—to acquire an 85 percent stake in MAA General Assurance Philippines Inc. (MAAGAP). The consortium also includes the German development finance institution Deutsche Investitions- und Entwicklungsgesellschaft MBH (DEG), the Belgian Investment Company for Developing Countries SA (BIO), and OP Finnfund Global Impact Fund I KY.
Source: IFC
May 4
Findings Show Private Markets Investment in Gender Lens Funds Grew More than 30%
Gender lens investing in private markets has grown by more than 30% in the past two years, with the minimum market size now assessed at US$7.9 billion in aggregate capital, compared to US$6 billion in 2021. This is among the findings of a study published on Tuesday, April 30 from the Project Catalyst research initiative from 2X Global, a gender finance organisation and Sagana, a leading gender-lens advisory firm focused on diversity, equity and inclusion in financial services.
Source: 2X Global
May 2
Mastercard Foundation Introduces MFAM, a New Separate Asset Management Company, to Support Its Philanthropic Mission
The Mastercard Foundation today introduced the Mastercard Foundation Asset Management (MFAM) Corporation, a new, separate asset management company with a mandate to build and manage a diversified portfolio to support the mission of the Mastercard Foundation and the work of its partners over the long term.
Source: PR Newswire
May 2
Mexico: Fintech Startup YoFio Successfully Closes USD10 Million Seed Round with Oikocredit
Soon after closing a successful USD10 million seed round, Mexico-based fintech Yofio is looking for investors to further accelerate its expansion across Mexico and other Latin American countries.
Source: Markets Insider
May 2
ADB ‘Vastly Overstated’ Climate Finance Claims in Asia, Says Oxfam
Oxfam reports that the ADB may have overstated its climate adaptation financing by 44%, claiming it provided USD 0.9 billion instead of the reported USD 1.7 billion. The ADB maintains the accuracy of its numbers, defending its methodology.
Source: Devdiscourse
Apr 30
Eastern and Southern Europe: EIF and InvestEU Back INOKS Capital-Run Fund for Sustainable Food Systems
The European Investment Fund (EIF) is committing €40 million to help make Europe’s food system fairer to farmers, healthier for consumers and friendlier to the environment. The EIF financing — provided under the InvestEU programme — will back the European Agri Transition Fund, which supports small and medium-sized enterprises (SMEs) and small mid-caps in the agricultural and food sectors.
Source: EIF
Apr 30
Productive Solar Technologies Draw Investors as Global Off-Grid Solar Sector Funding Slumps
The global association for the off-grid solar energy industry, GOGLA, says PURE technologies raised $65 million in 2023, double the previous year, owing to growing investor interest in the segment. PURE technologies include appliances and products like solar-powered water pumps, refrigerators, cold rooms and agri-processing equipment that allow improved or new revenue-generating activities, mostly in the agriculture sector.
Source: TechCrunch
Apr 30
Global Blended Finance Volumes Reach 5-Year High
The global network for blended finance, Convergence, released the 8th edition of the State of Blended Finance report. Following a 10-year low in aggregate blended finance volumes in 2022, Convergence observed a market rebound in 2023, reaching a 5-year high of $15 billion.
Source: Convergence

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