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Feb 2008
Remittances: Oklahoma Bank Partners with Haitian Microfinance Institution to Fight Poverty
February, 28 2008
United States - Fonkoze, Haiti's largest micro-finance institution, and Central National Bank of Enid, Oklahoma, have partnered to create a low-cost stored-value card that offers Haitian Diaspora and others in the U.S. both a convenient way to manage their own finances and an inexpensive way to increase income and investment in Haiti through remittances ...
Mibanco to launch IPO in 2008
February, 26 2008
United States - Peru's leading microlender Mibanco plans to launch an IPO on the Lima stock market this year, sources told BNamericas ...
Taking Microfinance to the Next Level
February, 26 2008
Paris, France - In recent years investors' appetite for microfinance has exploded. A wide variety of players, including hedge funds and venture capitalists, have begun competing to lend money to the institutions that provide such loans. Most investment vehicles are debt vehicles; it is only now that equity investments are being added to debt vehicles ...
Conference: Clients and Institutions - Growing Together
February, 25 2008
Ulaanbaatar, Mongolia - 11th MFC Conference in Partnership with XacBank, 29-31 May, 2008 Ulaanbaatar, Mongolia ...
MicroPlace: Microfinance for the Masses
February, 24 2008
USA - Working for the Grameen Bank of Bangladesh in the 1990s, Tracey Pettengill Turner saw first hand how microfinance works to lift people out of poverty. What she also learned was how microfinance can be a profitable investment. In October 2007, Turner and eBay launch the first of its kind MicroPlace, a website where investors can chose to invest in microfinance institutions (MFIs) in specific areas of the world ...
World Vision, Microfinance Institutions in MEER reach 100,000 active clients
February, 20 2008
United States - Microfinance Institutions (MFIs) in the Middle East and Eastern European Region (MEER) have ended fiscal year 2007 with 100,000 active clients - a fitting end to a year of accomplishments right across the region ...
Innovative Program Launched in India to Finance Clean Micro Energy Technologies
February, 20 2008
Boston, United States - Green Microfinance (GMf™), located near Valley Forge, Pennsylvania, and MicroEnergy International (ME) of Germany announced the launch of Energizing India™ at the recent 2008 AAAS Annual Meeting ...
South Africa: Old Mutual and DTI launch R100m women’s fund
February, 19 2008
South Africa - Old Mutual and the Department of Trade and Industry (DTI) have launched a R100 million development-finance fund – Isivande Women’s Fund - aimed at supporting women-owned enterprises in South Africa ...
Soros Economic Development Fund, Omidyar Network and Google.org Launch Small to Medium Enterprise Investment Company for India
February, 19 2008
New York, United States - The Soros Economic Development Fund (SEDF), Omidyar Network, and Google.org announced today a new $17 million Small to Medium Enterprise Investment Company for India to create job opportunities and spur greater economic participation for a larger segment of the population. This joint Investment Company will provide capital to small and medium businesses in underserved markets ...
Nigeria: 'N50bn Micro-Credit Fund for Poverty Alleviation'
February, 19 2008
Lagos, Nigeria - President, Alhaji Musa Yar'Adua last week Tuesday, launched the N50 billion micro-credit development fund with a promise to reduce poverty level to below 20 per cent by 2015 ...
Creation of the « Grameen - Crédit Agricole Microfinance Foundation
February, 18 2008
Paris, France - Crédit Agricole S.A., in partnership with 2006 Nobel Peace Prize winner Professor Muhammad Yunus, announces the creation of the « Grameen - Crédit Agricole Microfinance Foundation » and endows it with 50 million euro ...
Microfinance pioneer expands into US
February, 16 2008
United States - Grameen Bank, founded by Bangladeshi Nobel Prize winner Muhammad Yunus, is taking its pioneering microfinance model to the United States, the Financial Times reported on Saturday ...
IFC Investment to Expand Access to Housing and SME Finance in Honduras
February, 15 2008
Washington, D.C., United States - IFC, a member of the World Bank Group, today announced that it will invest in Banco Ficohsa in Honduras, enabling the bank to increase lending to entrepreneurs and to those seeking housing finance. ...
Kenya: Insurer seeks to tap into growing hawkers market
February, 14 2008
Nairobi, Kenya - Co-operative Insurance Services is set to launch a micro-insurance product in the market once hawkers are settled at the newly-constructed Muthurwa Market in Nairobi ...
Oikocredit celebrates growth in loan money and global social impact
February, 14 2008
United Kingdom - Oikocredit, the leading private international microfinancier, which gives support to poor communities and social enterprise, has announced a significant growth in activity and impact in its preliminary results for 200 ...
Africa Works: Benetton supports and promotes Africa for Africans.
February, 13 2008
Dakar, Senegal - Benetton puts the spotlight on entrepreneurial Africa. Its global communication campaign for 2008 promotes the Birima micro-credit programme in Senegal, a co-operative credit society founded by the Senegalese singer Youssou N'Dour. The programme will also receive financial support from Benetton Grou ...
Colmombia: BBVA unit to invest US$148mn this year
February, 12 2008
Colombia - BBVA Colombia will spend 282bn pesos (US$148mn) this year to open 18 new branches and strengthen its self-service terminals, the bank's recently appointed chairman Óscar Cabrera said in a statemen ...
Microfinance Institution ASA International Secures Largest Equity Capital Commitment Ever to Microfinance
February, 12 2008
New York, United States - Catalyst Microfinance Investors ("CMI") announced today that it has achieved its final private closing with total capital commitments of US$ 125 million (EUR 86 million) from leading international institutional and private investors such as, amongst others, the Dutch pension fund, ABP, and US investor financial services organization, TIAA-CREF. This is the largest collective equity capital commitment to microfinance ever ...
Citi, IFC to support expansion of BRAC's micro-lending
February, 12 2008
Bangladesh - IFC, a member of the World Bank Group, and Citi, the leading global financial services institution have concluded a US$22 million term financing to support BRAC's micro-lending in Bangladesh ...
Microfinance seems fairly insulated from credit turbulence
February, 12 2008
United Kingdom - The turbulence in global markets has tightened credit in most of the world's major financial centers, but how has it affected the world of microfinance? Because of its focus on developing countries and small entrepreneurs, microfinance doesn't often attract much attention from Wall Street, London or Tokyo. Yet for an international investor, this budding industry could offer an insurance policy when the major markets go south ...
Afghanistan’s Roshan is to launch mobile payment with Vodafone
February, 11 2008
Afghanistan - Afghanistan operator, Roshan, is going to unveil mobile payment service in cooperation with UK giant, Vodafone. Vodafone already built M-PESA that had been implemented in Kenya. Called as M-Paisa in Afghanistan, the service will act mainly as a vehicle for microfinance institutions’ (MFI) loan disbursements and repayments, with an additional range of business to business applications such as salary disbursement and airtime distribution ...
Bangladesh: 80 percent of micro-finance institutions found ineligible for licence
February, 09 2008
Bangladesh - Over 80 percent of micro-finance institutions (MFIs) that have applied for licence to run their business do not fulfil the criteria set by the Micro-credit Regulatory Authority, a top official said ...
Electronic Banking to Bring Financial Services to Vanuatu's Rural Areas
February, 08 2008
Manila, Philippines - Rural areas in Vanuatu, out of normal reach of bank branches, will soon enjoy access to modern banking services thanks to funding support from Japan and the Asian Development Bank (ADB) that will bring electronic banking and card-swipe technology as close as the local shop ...
South Sudan orders Islamic banks to leave
February, 06 2008
Juba, Sudan - Three Islamic banks in Sudan's semi-autonomous south are liquidating assets ahead of a deadline to close at the end of February, a south Sudan government official said on Wednesday ...
Local Currency Microfinance Fund for Latin America and The Caribbea, Activity Report
February, 06 2008
La Paz, Bolivia - Local Currency Microfinance Fund for Latin America and The Caribbean, founded recently on March, 2007, is pleased to share here its first Activity Report, of work accomplished by December 31, 200 ...
S&P Announces Program to Develop Global Ratings Framework for Microfinance Institutions
February, 06 2008
New York, United States - The Inter-American Development Bank (IDB) will sponsor a Standard & Poor's pilot ratings program in the Latin American region to promote the development of sound global and national capital market infrastructure for microfinance institutions (MFIs), Standard & Poor's Ratings Services announced today ...
Spain extends 9m euros to Jordan's microfinance companies
February, 06 2008
Jordan - The Spanish government extended on Tuesday soft loans totalling nine million euros to support Jordan's microfinance sector which generates up to 20 per cent of the Kingdom's gross domestic product (GDP) ...
Opportunity International’s Micro Insurance Agency to Develop and Provide Life, Health and Crop Insurance for 21 Million Poor People
February, 06 2008
Oak Brook, United States - $24.2 million in new funding from the Bill & Melinda Gates Foundation to help agency expand services in 11 new countrie ...
India: Microfinance initiatives take health insurance to the poor
February, 04 2008
Mumbai, India - Microfinance institutions (MFIs) such as SKS Microfinance, Basix—both Hyderabad-based—and the Kath-ir Foundation of Tamil Nadu are gearing up to provide health insurance products to the rural and urban poor ...
DID honours four outstanding partners
February, 04 2008
Lévis, Canada - Développement international Desjardins (DID) partners and Proxfin member institutions include individuals who are strongly committed to the development of their community finance institution. Like Alphonse Desjardins, they have shown extraordinary dynamism and creativity to increase access to financial services. During the International Development Week, which takes place from Sunday, February 3 to Saturday, February 9, 2008, DID wishes to highlight the commitment of 4 of these Outstanding Partners. ...
India: SKS Microfinance raises Rs 147 cr ($37.3 million) via equity sale
February, 01 2008
Mumbai, India - Vikram Akula-promoted SKS Microfinance has recently raised Rs 147 crore ($37.3 million) through a third round of equity infusion. ...

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