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Sep 2008
Carlos Slim, Muhammad Yunus Take Grameen Bank to Mexico
September, 29 2008
Mexico City, Mexico - Mexican multi-billionaire Carlos Slim and Muhammad Yunus, the founder of Grameen Bank and 2006 Nobel Peace Prize winner, said Monday in Mexico City that the bank for the poor will begin to operate in Mexico with an initial capital of 45 million dollars ...
Calvert Foundation Receives $10 Million Investment from Merrill Lynch
September, 27 2008
Brattleboro, United States - Investment in foundation's Community Investment Note is intended to support women entrepreneurs in developing countries. ...
Barclays to Invest £10m in Community Finance Schemes
September, 26 2008
London, United Kingdom - A project that will give hundreds of thousands of people in developing countries access to community-based financial services will be launched today in New York. The programme is led by Barclays and follows a pilot project the bank has been undertaking in Uganda to support Village Savings and Loans Associations (VSLAs) in a joint project with the Guardian ...
PepsiCo Foundation Announces Innovative New Initiatives to Drive Sustainable Water Practices
September, 25 2008
New York, United States - PepsiCo Foundation announced today two major new grants to WaterPartners and Safe Water Network programs to provide access to safe water and sanitation for individuals and communities in developing countries. The grants, totaling $7.6 million, are a component of the ongoing commitment by PepsiCo Foundation to promote and accelerate sustainable approaches to water access, conservation and usage in underserved regions . ...
Socially Responsible Investment (SRI) and pension funds
September, 25 2008
London, United Kingdom - Lynn Strongin Dodds offers an update on how far European pension funds have come in the field of SRI. ...
Microfinance Leaders Launch Campaign for Client Protection at Clinton Global Initiative
September, 24 2008
New York, United States - The Center for Financial Inclusion at ACCION International today announced a Campaign for Client Protection in Microfinance—a broad-based initiative to unite microfinance providers in commitment to the campaign standards for the appropriate treatment of low-income clients. ...
India: Fund Tap Going Dry for Microfinanciers
September, 24 2008
Mumbai, India - The global credit crunch has led to a significant drop in fund flow to the microfinance sector. Banks, which are required to provide 32-40% of their loans to the priority sector (which includes rural credit), are the largest providers of funds to MFIs ...
Schwab Charitable Pioneers Innovative Microfinance Guarantee Program
September, 24 2008
San Francisco, United States - Schwab Charitable, one of the country’s largest and fastest growing nonprofits and facilitators of charitable giving with over $2 billion in assets and $350MM in annual grants, announced today the launch of an innovative microfinance guarantee program ...
Namibia: Germany Gives Seed Capital for Country 's First Micro-Finance Banking Institution
September, 22 2008
Windhoek, Namibia - The German government has provided seed capital amounting to 2,3 million euro (N$26,2 million) to establish the first formal microfinance bank in Namibia ...
World Leaders, Financial Experts Highlight Microfinance Successes in Africa, Emphasize U.N. Roadmap to Bring Financial Access to World's Poor
September, 22 2008
New York, United States - As part of the UN General Assembly's High-level Meeting on Africa's Development Needs, world leaders and financial experts gathered today to highlight innovative solutions and best practices to bring inclusive financial services to the poorest populations in Africa and around the globe. ...
Mexico: HSBC to Divest its Stake in Financiera Independencia
September, 18 2008
Mexico City, Mexico - Financiera Independencia, a Mexican microfinance lender of personal loans to lower income segment individuals, announced today that HSBC Overseas Holdings UK Limited (HOHU), has informed the company of its intention to divest its entire stake in Independencia, which represents 126,999,000 shares equivalent to 18.68% of total shares outstanding ...
AIG Investments Invests in Blue Intercontinental Micro Finance Bank
September, 18 2008
New York, United States - AIG Investments today announced an investment in Blue Intercontinental Micro Finance Bank ("BIMFB"), a joint venture between Nigeria's Intercontinental Bank and Blue Financial Services ("Blue") aimed to distribute and sell micro-financing services and products into Nigeria's retail market. The equity investment will be funded by AIG Global Emerging Markets Fund II, L.P. ("GEM II"). ...
New Center to Foster Financial Inclusion of World’s Poor through Private-Sector Engagement
September, 18 2008
Boston, United States - Can commercial microfinance institutions organize themselves to protect the interests of their poor clients? The Center for Financial Inclusion at ACCION International is launching its activities today with a focus on answering that provocative question, among others. The Center will connect private-sector, non-profit and academic expertise and resources to accelerate the reach and increase the quality of microfinance worldwide. ...
CGAP Launches SmartAid 2009
September, 18 2008
Washington DC, United States - CGAP's SmartAid for Microfinance Index 2009 is the first ever effort to measure, rate, and compare how well development organizations are set up to effectively provide funding and advisory services to microfinance area. Funders that work in microfinance are invited to participate in this unique exercise. By joining in this effort, funders demonstrate that they have a strong commitment to transparency and accountability ...
Citi and Banco Bolivariano Pilot Swift Cross-border P2P Payments Framework
September, 17 2008
United States - Citi today announced that it has signed an agreement to be the first to pilot Workers' Remittances 1.0, Swift's new messaging framework for cross-border, person-to-person payments ...
Bellwether Launches $100 Mln. Indian Financial Inclusion Fund
September, 15 2008
India - Bellwether Microfinance Fund, India's first micro-finance venture capital fund, announced that it has launched $100 million Indian Financial Inclusion Fund or IFIF, according to media ...
African Microfinance Investor Fair in Dakar on October 15-16
September, 12 2008
Washigton DC, United States - African Microfinance Transparency (AMT) is organizing a two day Investor’s fair in Senegal to connect rated MFIs with investors ...
Netherlands: Banks Invest €580m in Microcredit
September, 12 2008
Netherlands - Dutch banks and pension funds have invested €580m in microcredit in developing countries, a figure that is set to double in the next three years ...
Social Capital Markets 2008 Conference in San Francisco, October 13-15
September, 12 2008
San Francisco, United States - 'Doing well by doing good' is becoming the mantra of a new generation of social entrepreneurs and investors. The Social Capital Markets Conference 2008 will bring together these catalytic changemakers - the entrepreneurs who want to change the world and the capital that wants to make it happen. ...
Can Islamic Finance Go Micro?
September, 11 2008
Washington, United States - With more than half-a-trillion dollars in assets and an annual growth rate that has outpaced conventional banks’ by nearly 50 percent, the Islamic finance industry is already making waves among investment fund managers. And this not only applies to the Muslim world: The Banker magazine recently named the United Kingdom to its list of the top 15 countries managing Sharia-compliant assets ...
India: ALW Private ltd. Closes Series B Funding of INR 287.4 million (USD 6.4 million)
September, 10 2008
Alkapuri, India - A. Little. World. Private Limited (”ALW”), leveraging new generation technologies to enable financial inclusion at the bottom of the pyramid (BOP), announced the closing of INR 287.4 Million in series B funding led by Bellwether Microfinance Fund Pvt. Ltd. and India Financial Inclusion Fund, both managed by Hyderabad-based caspian advisors ...
World Bank Approves Additional US$50 Million for Rural Financing in Mexico
September, 09 2008
Washington, United States - Today the World Bank’s Board of Executive Directors approved an additional US$50 million to assist the Mexican Government in strengthening savings and credit institutions in the rural sector. This project comes about as support to the Public Saving and Credit Law approved in 2001. The Law combined legal and regulatory reforms with public investment to create and strengthen the capacity of the savings and credit institutions in the rural sector, as well as the regulatory agencies that supervise them ...
Microfinance Meets the Market, But With High Transaction Costs
September, 08 2008
Lagos, Nigeria - Microfinance institutions have established that reliable banking services can be provided to poor customers. Researchers Cull, Demirguc-Kunt, and Morduch analyze the tensions and opportunities as microfinance institutions attempt to fulfill their second objective —to be commercially viable. ...
Vietnam: State Dominates Microfinance Market
September, 07 2008
Ho Chi Minh City, Vietnam - Limited understanding about microfinance and a misconception that financial services for low income earners is a charitable activity have hindered the development of the sector in Vietnam, experts said. ...
Conference, 21st and 22nd October 2008: "The Untapped Information & Communication Technologies (ICT) Market in Microfinance"
September, 05 2008
France - PlaNet Finance, partnered with NASSCOM Foundation and the French Embassy, is organising a global Microfinance and New Technologies summit in India ...
Mobile Banking: Where No Bank Has Gone Before
September, 04 2008
Washington, United States - What do these countries have in common: Kenya, Pakistan, Mongolia, the Maldives? They share political challenges, conflict, as well as having highly dispersed populations across varied types or terrain. They are also pioneers when it comes to mobile phone banking. ...
New UNDP Publication: "Creating Value for All: Strategies for Doing Business with the Poor"
September, 03 2008
New York, United States - The first report of UNDP’s Growing Inclusive Markets Initiative and the first such one with such depth and local knowledge, Creating Value for All showcases 50 studies by researchers predominantly from developing countries. These case studies demonstrate the successful pursuit of both revenues and social impact by local and international small- and medium-sized companies, as well as multinational corporations. ...
Workshop in Luxembourg, 17-21 November 2008: "Risk Management Excellence in Microfinance: Connecting Luxembourg to Leading MFIs"
September, 03 2008
Luxembourg - ATTF, ADA and PRiM are proud to announce the hosting of a workshop dedicated to Risk Management in leading Microfinance Institutions ...
SNS Asset Management:The Growing Pains and Gains of Microfinance
September, 02 2008
London, United Kingdom - Fund manager raising cash for second microfinance fund as institutional commitments grow and industry debates sharpen ...
India: Banks Lap Up MFIs' Farm Loans
September, 02 2008
Calcutta, India - Move helps lenders meet agri-lending targets, boosts micro-finance institutions' CAR. Private banks are increasingly buying the farm loan portfolio of micro-finance institutions (MFIs) in an attempt to meet the agriculture sector lending targets ...
Nigeria: Microfinance Banks to Set up Interbank Market
September, 01 2008
Lagos, Nigeria - Microfinance Banks in the country have commenced moves to set up an interbank money market for the sub-sector ...
Peru: Mibanco Shareholders Agree to Raise Up to US$15mn via IPO
September, 01 2008
Peru - Shareholders of Peruvian microfinance lender Mibanco agreed to raise up to 45mn soles (US$15.5mn) via an IPO, the bank told securities regulator Conasev in filing. ...
CGAP/MFMI Funder Training: "Building Inclusive Financial Systems: How Can Funders Make a Difference?"
September, 01 2008
Washington, United States - The next CGAP/MFMI training course for funders, "Building Inclusive Financial Systems: How Can Funders Make a Difference?", will be held in Croatia, September 8-12, 2008. A highlight will be visits to microfinance institutions in Croatia and neighboring Bosnia and Montenegro. ...

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