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Brazilian Development Bank Loans $100m to Banco do Nordeste do Brasil to Expand Microcredit
Banco Nacional de Desenvolvimento Econômico e Social (BNDES), the Brazilian government’s development bank, reportedly has announced that it will loan USD 100 million to Banco do Nordeste do Brasil (BNB), a public bank operating in Brazil’s Northeastern Region. The investment will be made from the microcredit program of BNDES, and BNB will commit an additional BRL 42.8 million (USD 16.6 million) to the effort. The proceeds will be used to fund individual entrepreneurs as well as micro- and small enterprises (MSEs). The interest rate of the wholesale loan will be set according to the country’s Long-term Interest Rate (known as TJLP in portuguese), which currently stands at 5.5 percent, plus 1.1 percent [1].
- Categories
- Uncategorized
- Region
- Latin America
- Tags
- lending
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Press Release: Better Than Cash Alliance Study Shows Colombia’s Digital Payment Tool for Coffee Farmers Is a Model to Replicate
The Colombian Coffee Growers Federation (FNC) Smart Coffee ID Card (CCI), launched in 2006, has become a vital tool for financial inclusion and change in the productive dynamics of Colombia´s rural sector, according to the Better Than Cash Alliance (BTCA), a United Nations alliance of governments, companies and the development community committed to the global transition from cash to electronic payments.
- Categories
- Agriculture
- Region
- Latin America
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MasterCard and Movistar Launch Peru’s First Mobile Money Service
With the goal of promoting financial and social inclusion in Peru, Movistar, in alliance with MasterCard, has announced the launch of “Your Mobile Money” (Tu Dinero Movil), the first electronic money service in Peru, which will offer users significant savings in their money transfers.
- Categories
- Technology
- Region
- Latin America
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Absolute Portfolio Management Invests $8.5m in Microfinance Institutions in Cambodia, Costa Rica, Ecuador, Peru
Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, recently informed MicroCapital that it disbursed credits totaling the approximate equivalent of USD 8.5 million from its two Vision Microfinance funds, the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency, to unspecified microfinance institutions (MFIs) in Cambodia, Costa Rica, Ecuador and Peru.
- Categories
- Uncategorized
- Region
- Latin America
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Where Cellular Networks Don’t Exist, People Are Building Their Own
Inside the cloud that is perpetually draped over the small town of San Juan Yaee, Oaxaca, Raúl Hernández Santiago crouches down on the roof of the town hall and starts drilling. Men wearing rain gear of various impermeabilities cluster above him, holding a 4-meter-tall tower in place. Braided wires trail from four small circles welded near its midpoint; eventually those will be bolted or tied down in order to hold the tower steady during the frequent storms that roll through this part of Mexico’s Sierra de Juárez mountains. They don’t want it falling over every time it rains. Ninety thousand of the town’s pesos—a bit over $6,000—are invested in the equipment lashed to the top of the tower, in a town where many residents get by on subsistence agriculture.
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- Technology
- Region
- Latin America
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Bolivian Women Bank on Sweet Success of Quinoa Bars
Women in a Bolivian cooperative hope to boost income by adding value to their quinoa crop through making chocolate-coated energy bars.
- Categories
- Agriculture
- Region
- Latin America
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How Gravity (And a Little Coagulant) Could Transform How Communities Clean Water
Purifying water is a problem as old as civilization. When people started living together in anything bigger than traveling bands of shepherds and hunters, potable water became a shrinking resource. The rotating belt of local oases or springs could satisfy you while you were constantly on the move but once you started needing the communal watering hole to keep your animals upright or your crops alive, cooperation became more tenuous and waterborne diseases became sundry. Getting sick from your drinking water was the tradeoff for settling down, and we’ve been repaying the debt ever since.
- Categories
- Agriculture
- Region
- Latin America
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SunEdison, IFC, OFID, and CABEI Close $146M Financing for Solar PV Projects in Honduras Totaling 81.7 MW
SunEdison Inc. (Belmont, CA, US) on December 15th, 2014 announced the closing of an approximately USD 146 million non-recourse debt financing arrangement with the International Finance Corporation (IFC), the Central American Bank for Economic Integration (CABEI) and the OPEC Fund for International Development (OFID).
- Categories
- Energy
- Region
- Latin America
- Tags
- renewable energy, solar