Grameen Foundation : What we do : Capital Mgmt & Advisory : Transactions
Capital Markets Transactions
By strategically leveraging the Capital Management & Advisory Center's resources, Grameen Foundation is able to expand the amount of capital available for microfinance institutions (MFIs). Using our financial resources, global network and industry stature, we become a critical link in pioneering new financing initiatives for MFIs. To date, we have mobilized tens of millions of dollars -- primarily in local currencies -- for MFIs to serve the world’s poor. Our focus has produced some groundbreaking successes, including:
Growth Guarantees transactions
Pro Mujer Bolivia of Bolivia received 7,720,000 local currency (USD 1 million) line of credit from Banco de Credito de Bolivia backed by a USD250,000 Grameen Foundation Growth Guarantee
FONDEP of Morocco received a 100 million dirham (USD 12.5 million) term loan from BMCE Bank backed by a USD 3 million (USD 1.5 million each) guarantee from Grameen-Jameel Pan-Arab Microfinance Ltd. and the Grameen Foundation Growth Guarantee Program.
EDPYME Edyficar S.A. of Peru received a Peruvian Nuevo Soles 11,960,000 (USD 4,000,000) term loan from BBVA Banco Continental backed by a USD $2,000,000 Grameen Foundation Growth Guarantee.
EDPYME Confianza S.A. of Peru received a Peruvian Nuevo Soles 916,500 (USD 600,000) line of credit from Scotiabank Peru backed by a USD $300,000 Grameen Foundation Growth Guarantee.
Kashf Foundation of Pakistan closed 720 million rupee (USD 12 million) in privately placed term finance certificates executed by Habib Bank Limited and backed by a USD 3 million Grameen Foundation Growth Guarantee.
EDPYME Confianza S.A. of Peru received a Peruvian Nuevo Soles 640,000 (USD $200,000) line of credit from Banco Internacional del Perú S.A.A. (Interbank) backed by a USD $100,000 Grameen Foundation Growth Guarantee.
EDPYME Confianza S.A. of Peru received a Peruvian Nuevo Soles 3.84 million (USD $1.2 million) line of credit from Banco de Crédito del Perú backed by a USD $600,000 Grameen Foundation Growth Guarantee.
CARD, Philippines received a $3.3 million term loan facility from Citibank – Philippine Branch backed by a $1 million Grameen Foundation Growth Guarantee.
Kashf Foundation, Pakistan received an $8 million syndicated loan facility from Habib Bank Ltd, MCB Bank Ltd and ABN AMRO backed by a $2 million Grameen Foundation Growth Guarantee.
SKS, India announced a $44 million forward loan purchase program with Citibank India backed by a $2 million Grameen Foundation Growth Guarantee.
LAPO, Nigeria received a $1 million term loan from Nigeria International Bank (Citibank subsidiary) backed by a $500,000 Grameen Foundation Growth Guarantee.
Fondation Zakoura, Morocco received a $10.6 million term loan from Société Générale Marocaine de Banques backed by a total of $5 million in guarantees ($2.5 million each) from Grameen Foundation Growth Guarantee Program and Mohammed Jameel Guarantee Fund.
Pro Mujer, Peru received a $600,000 term loan from Banco de Credito de Peru backed by a $300,000 Grameen Foundation Growth Guarantee.
FONDEP, Morocco received a $2.7 million term loan from Attijariwafa Bank backed by a total of $888,000 in guarantees ($444,000 each) from Grameen Foundation Growth Guarantee Program and Mohammed Jameel Guarantee Fund.
CARD, Philippines received a $2 million term loan from Bank of the Philippine Islands backed by a $1 million Grameen Foundation Growth Guarantee.
DBACD, Egypt received a $2.5 million term loan from BNP Paribas backed by a total of $2 million in guarantees ($1 million each) from Grameen Foundation Growth Guarantee Program and Mohammad Jameel Guarantee Fund.
ACODEP, Nicaragua received a $1,500,000 credit line from BanPro supported by a $500,000 Grameen Foundation Growth Guarantee.
Pro Mujer, Bolivia received a total of $1,500,000 from Banco de Credito de Bolivia and Banco Bisa backed by a $750,000 Grameen Foundation Growth Guarantee.
ENDA, Tunisia received a $750,000 term loan from a local bank, UIB, backed by a $375,000 Grameen Foundation Growth Guarantee.
CCT, Philippines received an $800,000 revolving line of credit from Bank of the Philippine Islands backed by a $400,000 Grameen Foundation Growth Guarantee.
Cashpor, India received a $1,100,000 term loan from HDFC Bank backed by a $110,000 Grameen Foundation Growth Guarantee.
Other transactions
Grameen Foundation facilitates SHARE India’s $4.3M portfolio sale ‘securitization’ by ICICI: Grameen Foundation and its partner, SHARE, completed a historic transaction that leveraged Grameen Foundation’s $325,000 by a ratio of greater than 12:1 as a guarantee, generating $4.3 million in local currency in microloan capital in India. By working with ICICI, the largest bank in India, to accomplish this innovative deal, there will be up to 25,000 new loans for India’s poorest people. Press clippings on the SHARE portfolio sale transaction
Grameen Foundation is involved in the first international and largest microfinance bond offering ($40M): An equity investment from Grameen Foundation enabled BlueOrchard Finance and Developing World Markets to consummate a $40 million bond offering with proceeds used to fund MFIs. A second tranche was later added to raise the total to $87 million. The Omidyar Network and Skoll Foundation were also equity investors, and the Overseas Private Investment Corporation (OPIC) provided a guarantee. This financial deal is a true landmark, as the first transaction in U.S. capital markets to exclusively fund international microfinance institutions in seven countries. Press clippings on the BlueOrchard offering
Grameen Foundation enables Filipino MFI to reach strategic goals: Grameen Foundation provided a $410,000 guarantee for a financing credit line for the Filipino microfinance institution, Center for Agriculture and Rural Development (CARD) from the largest bank in the Philippines, Land Bank. This capital was leveraged multiple times in local currency to enable CARD to open 15 new branches and contribute to their larger outreach goal of 600,000 clients by 2008.
Grameen Foundation : What we do : Capital Mgmt & Advisory : Transactions
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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