By Geoffrey on January 13, 2022
In a press release distributed on January 13, 2022 Symbiotics reported that it “has arranged a USD 6.5 million Social Bond for Cooperativa de Ahorro y Crédito Fernando Daquilema (“Daquilema”).
With the issuance of this Social Bond, Daquilema reinforces its commitment to serve indigenous communities providing credit to support micro enterprises, entrepreneurship and thus foster employment creation. It also showcases its ability to align to the internationally accepted International Capital Market Association (ICMA) Social Bond Principles, increasing the attraction of international financiers.
The social projects that will be financed are represented by micro loans up to USD 10,000 to microenterprises and SME loans up to USD 1 million to small and medium enterprises, generating employment and improving the general funding available to this market.”
You may read the press release on the news page of the Symbiotics internet site.
Posted in 2022, Americas, Banking, Fixed Income, Microfinance
By Geoffrey on January 13, 2022
In a press release distributed on January 13, 2022 Symbiotics reported that it “has arranged a USD 10 million Social Bond for Hamkorbank.
Founded in 1991 by local entrepreneurs, Hamkorbank’s mission is to provide high-quality services via its technologically advanced banking products and over 200 service points located across the country. Hamkorbank is a full service bank, whereby micro-enterprise and SME loans are two core customer pillars in its strategy to support economic growth and employment generation within Uzbekistan.
The proceeds of this Social Bond are to be allocated towards both micro loans up to USD 10,000 to microenterprises and SME loans up to USD 1 million to small and medium enterprises. Hamkorbank’s focus is on generating employment, financial inclusion and improving the general funding available to this market. The Social Bond issuance and the eligible assets to be financed are in full compliance with the International Capital Market Association (ICMA) Social Bond Principles.”
You may read the press release on the news page of the Symbiotics internet site.
Posted in 2022, Asia, Banking, Fixed Income, Microfinance