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IFC and Blue Financial Services Help Small Businesses and Local Communities in Botswana, South Africa, and Zambia Fight HIV/AIDS
August, 31 2007
Johannesburg, South Africa - IFC, a member of the World Bank Group, today announced plans to work with Blue Financial Services, a pan-African consumer finance provider, to implement a pilot HIV/AIDS awareness and prevention program in Botswana, South Africa, and Zambia. The program will target local communities and small companies, helping them protect businesses and preserve jobs by managing the epidemic’s business risks.
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$11.4 million Debut Bond Issue for Micro Finance Bank of Azerbaijan
August, 31 2007
Baku, Azerbaijan - Bonds providing senior debt to Micro Finance Bank of Azerbaijan in the amount of USD 11.4 million and a term of five years were issued on 29 August to international capital markets investors through a Luxembourg securitization vehicle. The funding will be used by MFBA for on-lending to Azeri small business
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Citibank Commits $17.9 Million To South Asian Flood Relief
August, 29 2007
Dhaka, Bangladesh - The Bangladesh Rural Advancement Committee (BRAC), the world's largest non-governmental organization (NGO), has entered into a backstopped facility with Citibank, N.A. Bangladesh and its partner banks to avail financing for rural development specially supporting its post-flood rehabilitation programs.
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PNG gets new micro-finance bank.
August, 27 2007
Papua New Guinea - The government of Papua New Guinea has announced a new micro-finance bank for the country, supported by the Asian Development Bank
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US firm sets up NBFC to finance urban poor
August, 23 2007
Chennai, India - The US-based Development Innovations Group has set up a company in India, Capstone Financial Services Pvt Ltd, with a view to providing/facilitating loans to the urban poor.
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First Microcredit Bank in Gulf Region to Rise
August, 19 2007
Manama, Bahrain - Bahrain's Grameen Bank, the first-of-its-kind in the Gulf region, with a sole mandate to extend microcredit facilities at very competitive rates, will be up and running later this year, a senior official representing the major stakeholder institution has said
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Pro Mujer Launches New Website
August, 17 2007
New York, United States - Pro Mujer, a women’s development and microfinance network operating in Latin America, today announced the launch of its new website at www.promujer.org.
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Measuring Social Performance: First-Ever Common Standards Adopted
August, 15 2007
Washington D.C. United States - Microfinance has seen a steep rise in foreign capital investment over the past two years. Yet, as dreams of commercialization seem to be coming true, many are calling for methods to balance the profit-maximizing imperative commercial investors bring to the table and keep microfinance focused on a "double bottom line.
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United States: Financial services target growing Hispanic population
August, 13 2007
Washington, United States - Low-skilled immigrants rarely have insurance, whether life, accident or unemployment, and sometimes when they have an emergency, friends and family members pass donation buckets in small churches or call Spanish-language radio stations conducting phone-a-thons to raise money to pay the bills
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Nearly half of Indians financially excluded
August, 12 2007
New Delhi, India - Theme India may be rocking Wall Street and the City of London even as we enter the 60th year of Independence. But back home, the Indian government is waking up to the fact that over 40% of Indians don’t even have bank accounts.
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Indonesia to set up microfinance firms in villages
August, 10 2007
Jakarta, Indonesia - Indonesia plans to spend 1 trillion rupiah ($107.1 million) in 2008 to set up financial institutions in villages across the country to reduce poverty and unemployment, the agriculture minister said on Friday.
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Successful Closing of Rural Impulse Fund, supporting rural microfinance
August, 10 2007
Antwerp, Belgium - Incofin, a specialised microfinance investment manager with Head Office in Antwerp, Belgium, is proud to announce that “Rural impulse Fund” (RIF), a new microfinance investment fund, that will target rural microfinance institutions (MFIs) has been successfully closed in Luxembourg on August, 10, 2007
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Urwego Opportunity Microfinance Bank first-ever bank merger in Rwanda
August, 07 2007
Kigali, Rwanda - The world’s leading Christian organizations supplying microfinance and microenterprise development to the poorest of the working poor today announced a historic partnership by merging operations in Rwanda to open a microfinance bank for the poor in a country that is making steady progress and often great strides in rebuilding and reunification.
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Pacific: Microfinance under the Spotlight
August, 03 2007
Papua New Guinea - Moves to strengthen the focus on microfinance in the Pacific region will be put under the spotlight during a regional-level gathering of stakeholders in Papua New Guinea later this month
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EBRD boosts funding for Romanian micro businesses
August, 02 2007
United Kingdom - The European Bank for Reconstruction and Development is continuing to support the growth of Romanian micro enterprises and start-up businesses via a new loan for Banca Transilvania (BT), the largest and fastest growing locally-owned Romanian bank.
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