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May 2008
Pakistan: Financial sector penetration is low, say experts
May, 31 2008
Karachi, Pakistan - High economic growth and financial sector development in recent years has been unable to penetrate formal financial services across Pakistan ...
Grameen Foundation Launches Progress Out of Poverty Website
May, 27 2008
United States - Grameen Foundation today launched a website that demonstrates how microfinance institutions (MFIs) can understand and improve their social performance ...
India: Now, an Infosys `Nano` for financial inclusion
May, 27 2008
India - Finacle, the banking product arm of software major Infosys Technologies, has developed a solution to take forward financial inclusion which, in its scope and business possibilities, can turn out to be a major offering. ...
Bangladeshi NGO goes global for commercial lending
May, 27 2008
Bangladesh - ASA International Holdings, a company managed and partially owned by ASA, one of Bangladesh's largest NGOs, has raised $150 million (around Tk 1,000 crore) as equity from foreign private investors to fund commercial micro-credit lending outside Bangladesh ...
Kenya: Ecobank to acquire 75 pc of East African Building Society
May, 26 2008
Kenya - The battle in the financial services sector is expected to reach fever pitch as one of Africa’s largest players prepares to make a grand entry into the country ...
Citibank and Citi Microfinance Announce Pioneering Credit Card with Citi Banamex USA
May, 23 2008
Los Angeles, United States - Citi and Banamex USA recently introduced a new co-branded credit card at select Citibank financial centers in Texas. Through an ongoing pilot program available through eight Citibank Financial Centers in Texas and working with Citi Microfinance and Banamex USA, it is now possible for Citibank customers to grant a shared-credit card to a friend or relative in Mexico with Banamex USA’s exclusive bi-national Card program ...
Korea: Microfinance Key to Sustainable Development
May, 22 2008
Seoul, Korea - Members of the World Savings Bank Institute (WSBI) have agreed to step up cooperation with international organizations and governments to improve financial access of those being left out of financial services, the Korea Federation of Savings Bank (KFSB) said Thursday ...
Scotiabank Announces a New Investment in Peru
May, 20 2008
Toronto, Canada, Lima, Peru - Scotiabank Peru today announced that it will acquire a 100-per-cent interest in Grupo Altas Cumbres' Peruvian operation, Banco del Trabajo. This agreement is conditional upon regulatory approvals ...
Code of Ethics to be Established in Microfinance
May, 19 2008
New York, United States - At the initiative of Deutsche Bank, The Boulder Institute, and CGAP, leaders of microfinance institutions, investors, banks and development agencies gathered in New York to develop a common ground and set of principles that would help microfinance navigate between commercialization and its social mission ...
Microfinance At The Crossroads
May, 19 2008
United States - Much of the recent surge in microfinance investment and experimentation has been on a for-profit basis. That's turned up the heat on a longstanding debate: How can microfinance organizations (MFIs) scale up to provide financial services to the vast majority of the world's poor who currently lack access, without losing sight of their social mission ...
Study: India, Microfinance sector to reach Rs 25,000 cr by 2012
May, 19 2008
New Delhi, India - The microfinance sector in the country is expected to grow nearly 10 times to reach Rs 25,000 crore (around 6 billion $) in the next four years, a study says. ...
IFC Invests in Private Equity Fund to Support Small and Medium Businesses in Africa’s Indian Ocean Region
May, 19 2008
Washington D.C., United States - IFC, a member of the World Bank Group, today announced that it will invest in I&P Capital II, a private equity fund that finances small and medium enterprises in Madagascar, Mauritius, and other countries in Africa’s Indian Ocean region. ...
MicroPlace Announces Availability of Microfinance Investments in the United States
May, 15 2008
San Jose, United States - MicroPlace is the first to offer retail investors U.S. microfinance opportunities that earn a financial and social return ...
IFC and Standard Chartered Bank Collaborate on the Launch of Innovative Credit-Linked Notes to Improve Financing for Microfinance Sector
May, 15 2008
Washington D.C., United States - IFC, a member of the World Bank Group, and Standard Chartered Bank today announced that they have collaborated on the launch of the first-ever issuance of notes backed by loans to microfinance institutions in Africa and Asia ...
Study: Human Resource Challenges & Solutions in Microfinance
May, 15 2008
India - The Microfinance Insights magazine ran an online survey on Human Resources Challenges and Solutions from February through March 2008. ...
IDB approves US$50 million for Ecuador’s Banco Pichincha
May, 14 2008
Washington D.C., United States - The Inter-American Development Bank today announced the approval of a six-year US$50 million loan to Banco Pichincha, Ecuador’s leading commercial bank, to expand financing for housing, small businesses and microenterprises. ...
Nigeria: UBA floats N3.0 billion Microfinance Bank
May, 14 2008
Nigeria - United Bank for Africa Plc (UBA) has floated N3.0 billion (25 m$) Microfinance Bank; following its approval by the Central Bank of Nigeria . ...
Poland: Citi Handlowy Offers Credit Package for New Small & Medium-Sized Companies with "CitiBusiness for Start-Ups"
May, 13 2008
Warsaw, Poland - Citi Handlowy has launched a special offer for small and medium-sized companies that have just started their operations. ...
Legatum and Omidyar Network Invest USD 40 Million as Co-Anchors of Unitus
May, 13 2008
Dubai, United Arab Emirates, New York, and Redwood City, United States - Legatum and Omidyar Network announced today a USD 40 million co-investment in Unitus Equity Fund II (UEF II). ...
LuxFLAG grants new MIV labels
May, 09 2008
Luxembourg - The Luxembourg Fund Labeling Agency (LuxFLAG), created in July 2006, has granted its microfinance label to two new applicants and has renewed the labels delivered in 2007 to three microfinance investment vehicles (MIVs) ...
Philippines: Gov’t has P80 billion for microfinancing
May, 09 2008
Bacolod City, Philippines - Presidential Management Staff chief Cerge Remonde said the government has P80 billion available for microfinance programs this year and is in need of partners for its dispersal ...
Non-bank credit institution FINCA Azerbaijan is preparing to be transformed into bank.
May, 08 2008
Baku, Azerbaijan - FINCA Director for Azerbaijan Jeff Flowers said at the moment FINCA is negotiating with the National Bank of Azerbaijan (NBA) for changing its organizational form to bank ...
IFC and BBVA Microfinance Foundation Join Forces to Expand Access to Finance for Entrepreneurs in Latin America
May, 08 2008
Washington, D.C., United States - IFC, a member of the World Bank Group, and BBVA Microfinance Foundation have signed an agreement to participate jointly in equity investments in microfinance institutions throughout Latin America ...
Nigeria: Moneybox Africa to Deploy Mobile Financial Ecosystem
May, 07 2008
Lagos, Nigeria - MoneyBoxAfrica is partnering Paybox, the German based trend setting company for mobile payment enterprise solutions, aimed at developing a mobile banking product for everyone in Africa ...
EFSE Provides EUR 10 mil in Local Currency to ProCredit Bank Romania for Very Small and Small Business Financing
May, 07 2008
Romania - The European Fund for Southeast Europe (EFSE), the largest microfinance investment fund worldwide, is lending ProCredit Bank Romania S.A. (PCBR) EUR 10 million in local currency ...
India: SKS Microfinance to launch urban microfinance
May, 07 2008
India - SKS Microfinance, India’s largest microfinance institution, is planning to launch microfinance in urban colonies of Nagpur and Pune this fiscal. The company has conducted a successful pilot in Nandanvan branch in Nagpur where 3695 members have opted for loans worth Rs.4.5 crore since November, 2007 ...
Kenya Launches Revolutionary US$ 50 Million Farm Programme to Provide Small-Scale Farmers and Farm Businesses Financing and Credit
May, 06 2008
Nairobi, Kenya - The Alliance for a Green Revolution in Africa, Equity Bank, International Fund for Agricultural Development, and the Government of Kenya Offer Innovative Solution to Farmers’ Credit Crunch ...
MasterCard Foundation Partners with Microfinance Information eXchange to Enhance Transparency of Microfinance Industry
May, 06 2008
Toronto, Canada - The MasterCard Foundation awarded a two-year, $740,000 grant today to Microfinance Information eXchange (MIX) to launch MIX Market 2.0, a next-generation Web platform for sharing reliable, comparable and publicly available information on the financial strength and performance of microfinance institutions ...
Borrowers hungry for a helping hand to survive
May, 06 2008
London, United Kingdom - Grameen, the pioneering microlending institution, has seen a sharp rise in problems for millions of poor borrowers across the developing world in repaying loans as food prices soar, according to Muhammad Yunus, its founder and Nobel Peace Prize winner ...
GF Secures More Than $5 Million in Funding for Ethiopian MFI ACSI
May, 05 2008
Ethiopia - Grameen Foundation has announced its first Growth Guarantee placement in East Africa which has mobilized US$5.3 million for Amhara Credit and Savings Institution (ACSI). ...
In Tunis, FEMIP undertakes to promote microfinance in the Mediterranean region
May, 05 2008
Tunis, Tunisia - The Facility for Euro-Mediterranean Investment and Partnership (FEMIP) and Sanabel, the network of microfinance institutions in the Arab countries, held a conference today in Tunis on the subject “Microfinance in the Mediterranean: what impact?”, which brought together nearly 400 participants to engage in debate with some thirty speakers from microcredit institutions, the banking sector, finance institutions, academia and civil society ...
Conference: Building Inclusive Financial Systems, How Funders Can Make a Difference
May, 05 2008
Washington D.C., United States - A Five-day Training Course for Staff from Public and Private Funding Agencies and Policymakers. Dubrovnik, Croatia, September 8-12, 2008 ...
Mobile Banking to Transform Microfinance
May, 04 2008
Washington D.C., United States - A new report from the global microfinance body CGAP predicts that, with the right market conditions, mobile banking could reach large numbers of poor people who are outside the formal financial system. ...
Visa Launches New Corporate Responsibility Program
May, 02 2008
New York, United States - Commitments announced at Clinton Global Initiative meeting - Efforts focus on combating poverty through microfinance, financial literacy and development of new technologies ...
Conference: Asia-Pacific Regional Microcredit Summit
May, 02 2008
Indonesia - The Asia-Pacific Regional Microcredit Summit will be held in Bali, Indonesia from July 28-30, 2008. The Microcredit Summit Campaign and Gema PKM Indonesia are pleased to announce the opening of registration and the launch of the Asia-Pacific Regional Microcredit Summit website ...
Microfinance and the Global Food Crisis
May, 01 2008
Washington, D.C., United States - The twin crises of world food price inflation and the U.S. sub-prime mortgage meltdown are inciting anger in the developing world toward global capital markets. ...
India: Microfinance firm Grama Vidiyal gets equity funding
May, 01 2008
Chennai, India - Tamil Nadu-based micro finance company Grama Vidiyal Microfinance Pvt Ltd (GVM) has got $3.7 million (Rs.147 million) funding from Unitus Equity Fund L.P. and Vinod Khosla, a venture capitalist ...
Standard Chartered, ACCION Call for Greater Capital-Market Engagement to Fund South Asian Microfinance
May, 01 2008
Delhi, India - Microfinance institutions (MFIs) in South Asia urgently need access to capital markets to expand their outreach, said Jaspal Bindra, CEO, Asia, Standard Chartered Bank, in opening comments at the ACCION International and Standard Chartered-hosted conference, 'Microfinance Cracking the Capital Markets South Asia,' held April 29-30 in Delhi ...

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