From the category archives:
One of the world’s richest men has awarded $38m to credit groups designed to provide better ways for 11m of the world’s poorest people to save.
The Bill & Melinda Gates Foundation, established by the co-founder of Microsoft, is funding efforts to encourage developing world lenders to establish a range of savings products.
The grants, to 18 [...]
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Kiva.org Reaches $100 Million(Rs 500 crore) in Microloans Around the Globe
October marks two considerable milestones for Kiva.org — the world’s first micro-lending website for the working poor. This month, Kiva.org celebrates its fourth anniversary, in addition to reaching over $100 million in loans.
Since launching in October 2005, Kiva.org has provided loans to more than 239,000 [...]
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What’s next for microfinance? More than money
Pro Mujer, an organization that funds microcredit cooperatives in Latin America, also provides women’s health screenings, using a special van retrofitted with medical consultation rooms and staffed by a nurse and doctor. The vans travel into remote parts of southern Peru, combining financial help with preventative health care [...]
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The mission of Grameen Carso is to significantly increase access to affordable micro-credit in Mexico for poverty alleviation through the Grameen Bank microcredit model and the support of Foundation Carlos Slim.
Grameen Carso plans to serve more than 100,000 borrowers in the first five years.
NEW YORK, Sept. 24 /PRNewswire/ — Grameen Trust and Fundacion Carlos [...]
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Grameen Trust of Bangladesh and Alibaba Group have joined hands to create the Grameen China initiative, an effort to provide micro-credit financial services to China’s poorest residents to create income generating opportunities and help lift them to a higher standard of living.
Grameen China’s initial focus will be in Sichuan, which is still recovering from a [...]
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Secretary-General Ban Ki-moon has named Princess Máxima of the Netherlands has his new Special Advocate on Inclusive Finance, which he said can spur poverty reduction and advance development.
“Your extensive knowledge and expertise makes you a perfect choice for this important undertaking,” Mr. Ban said yesterday. “You will be able to work for the well-being of [...]
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Banco de Credito, Peru’s largest bank, said on Monday it has reached a deal to acquire a 77.1 percent stake in the country’s second-largest microfinance group, Financiera Edyficar, for nearly $80 million.
The bank’s chief executive, Walter Bayly, told reporters the deal was part of a $96 million offer for the whole of Edyficar, which is controlled [...]
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MIANZHU, Sichuan Province: Yu Changfu felt desperate when his house collapsed in the magnitude-8.0 earthquake in Sichuan province on May 12, 2008, for he had no money left to earn a living after rebuilding the house.
Thanks to the Grameen-CPAD-Danone Micro-Credit Initiative, however, the 41-year-old farmer in Mianzhu, one of the hardest hit cities in the [...]
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While our very own RBI Governor D. Subbarao is making hearts flutter with his public display of admiration for Chairman Mao – Read Chairman Mao and Governor Subbarao not too far away in Bangladesh a few decades ago some angry young men started a Maoist frontal organisation called ASA only to see it transform into [...]
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Dhaka, Bangladesh (AHN) – The Micro-Credit Regulatory Authority (MRA) will seek fresh applications from micro-finance institutions (MFIs) to issue licenses from January 2010, officials said on Sunday.
“We’ll issue fresh licenses to the MFIs to bring their operations under a regulatory framework,” a senior official of the MRA told AHN Media in Dhaka after a meeting [...]
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MEXICO CITY (Dow Jones)–Mexican microfinance bank Banco Compartamos SA (COMPART.MX) said Tuesday that its second quarter net profit rose 31% due to a big increase in revenue from its lending operations.
Net profit was 327 million pesos ($24.7 million), or MXN0.76 per local O shares, up from MXN249 million, or MXN0.58 per share, in the second [...]
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COLOMBO, July 13 (Reuters) – Sri Lanka’s government on Monday launched a $26 million microfinance loan programme to spur local agriculture and business in the former northern war zone, part of the president’s plan to resettle 300,000 displaced people.
Dubbed the “Awakening North”, the Central Bank said the 3 billion rupee ($26.12 million) loan plan will [...]
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