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Jan 2009
Indian MFIs to Build Portfolio of $6.27 Billion by 2012
January, 30 2009
- When the world is talking about slowdown and recession the microfinance sector is seeing continuous growth. It has touched the billion dollar mark and many young entrepreneurs are entering the business with an ambition to start a microfinance institution (MFI). ...
Zurich Launches Microinsurance Products
January, 28 2009
Zurich, Switzerland - Microinsurance products will be available to women in low-income populations under a program developed by Zurich Financial Services Group and Women’s World Banking. ...
A Conversation about Microfinance and Peace Building in Colombia
January, 28 2009
Bogota, Colombia - Nearly 2,000 people convened at the International Symposium on Microfinance as a Tool for Peacebuilding last week in Cali, Colombia, to discuss how microcredit could be used to rebuild the social and economic fabric in post conflict areas of the country. ...
By the People, for the People: Microfinance Offers the "Transformative Vision" Davos is Seeking
January, 28 2009
Davos, Switzerland - Among the top, as yet unanswered questions are, as Champion put it, "What will provide [future] growth?," and as the summit's chairman and founder, Klaus Schwab, asked, Where should leaders look to find a new "transformative vision for international finance"? The answer to the last question seems to me to be obvious, even though it's admittedly in one of the last places mainstream economists would have looked before the crash: to microfinance ...
New Report Urges Financial Industry to Integrate Sustainable Investing Practices
January, 28 2009
Davos, Switzerland - A new report by the International Finance Corporation (IFC), the United Nations Global Compact, and the Swiss government finds that although the financial industry understands the necessity of developing methodologies and tools that examine environmental issues in the investment process, it is still not standard practice. ...
South Africa: Consumers Turn to Microlenders as Banks Refuse Loans
January, 27 2009
Johannesburg, South Africa - Consumers have turned to microlenders as they have been unable to get personal loans from banks, a major player in the micro finance industry, the Elite Group, said on Tuesday ...
In Midst of Economic Recession Calvert Foundation Experienced Robust Asset Growth in 2008 and Attracted More Socially Minded Investors
January, 27 2009
Bethesda, United States - The Calvert Social Investment Foundation (Calvert Foundation) announced today that, despite troubled financial markets and a U.S. recession, it is continuing to grow, with total assets at $215 million, up more than 7 percent than just a few months earlier. ...
Revamping Pakistan’s Microfinance Sector: Government Reveals Aggressive Goals in Second Poverty Reduction Strategy Policy Paper
January, 26 2009
Washington DC, United States - As a part of a new policy matrix added to Pakistan’s Poverty Reduction Strategy Paper (PRSP)-II, new goals for the microfinance industry in Pakistan have been established, it was announced in the Daily Times. ...
State of the Microcredit Summit Campaign Report 2009: 100 Million of the World's Poorest Reached with Microcredit!
January, 26 2009
Washington DC, United States - As of December 31, 2007, 3,552 microcredit institutions reported reaching 154,825,825 clients, 106,584,679 of whom were among the poorest when they took their first loan. ...
Government’s Role in Microfinance: What is the Optimal Policy Mix?
January, 26 2009
Washington DC, United States - Governments recently have shown a growing interest in microfinance. An increasing number of countries are adopting national policies and strategies for microfinance, and governments are funding a plethora of new projects at the retail level. This article explores the optimal roles government can play to foster permanent financial access for the poor ...
Malawi: "Solid Progress" on Legislation to Cover Microfinance Sector
January, 22 2009
Malawi - The Ministry of Justice and Constitutional Affairs, an executive branch agency responsible for the country's legal sector, reported that work to complete customization of the Microfinance and Financial Cooperatives bills is close to an end. ...
Publication: Fitch Sees Microfinance Tested By Crisis
January, 22 2009
London, United Kingdom - Fitch Ratings says that contrary to some industry views that microfinance is resilient to wider economic shocks, it will be difficult for the sector to remain immune from the global financial crisis. ...
Call for EU Legislation to Encourage Microcredit Schemes
January, 20 2009
Strasbourg, France - The Economics Committee is calling for the Commission to propose legislation on microcredit schemes in Europe, aiming to remove problems caused by competition and money-laundering rules, to allow for more EU co-funding, to introduce a harmonised regulatory framework for microcredit providers and to raise their profile ...
Mexico: Calderon’s Party Will Propose Law Lowering Loan Rates
January, 20 2009
Mexico city, Mexico - Senators from Mexican President Felipe Calderon’s party will propose legislation to lower interest rates on loans, Senator Gustavo Madero said. ...
Rwanda: Victims of Collapsed Banks Seek Ombudsman’s Help
January, 18 2009
Kigali, Rwanda - Disgruntled victims of Microfinance institutions (MFI) that collapsed are considering filing their concerns with the Ombudsman’s office, a reliable source has revealed ...
Kenya: Small Loans Widen Horizons for the Poor
January, 16 2009
- Does microfinance benefit economic development? When asked that question, James Mwangi, chief executive officer of Kenya's Equity Bank, responds in the affirmative. With even small loans, he told Africa Renewal, "We have seen families graduate from micro-enterprises to semi-medium enterprises. ...
EBRD Signed One of the Two Syndicated Loans with Access Bank
January, 15 2009
Baku, Azerbaijan - The European Bank of Reconstruction & Development (EBRD) started to sign agreements on two syndicated loans (A/B Loan) with the Access Bank (formerly Microfinance Bank of Azerbaijan, MFBA) ...
Which Way for African MFIs?
January, 14 2009
Nairobi, Kenya - In its bid to develop microfinance within the broader context of continental economic growth and poverty alleviation efforts, the African Union commissioned a workshop in Dakar, Senegal in 2008. The meeting was attended by 27 experts in the field of microfinance, regulatory agencies and staff of the AU Commission. ...
Cambodia: Microlenders Weather the Storm
January, 14 2009
Phnom Penh, Cambodia - Some of the world’s biggest banks are threatened by the credit meltdown, but Asian Development Bank Country Director Arjun Goswami says Cambodian microlenders are solid ...
3 Injured, 160 Arrested in Protests Over Micro-Loans in Nicaragua
January, 14 2009
Managua, Nicaragua - The fight took place in the northern municipality of Tipitapa after thousands of farmers, storekeepers, employees and small businessmen blocked the highway to demand approval by lawmakers of a moratorium on debt repayments to so-called microlenders ...
Recession Squeezes Even Philanthropies of Gates, Allen
January, 14 2009
Seattle, United States - Some of the region's biggest givers, who have helped turn Seattle into a center of global philanthropy, are determined to maintain their ambitions. Yet, they are either curbing their planned growth or, in some cases, reducing their giving ...
Kenya: Women Trust Fund Gets Nod to Take in Deposits
January, 08 2009
Nairobi, Kenya - Kenya Women Finance Trust has become the first microfinance to be allowed by Central Bank to start accepting customer deposits under the Microfinance Act 2006 ...
Benin: Microfinance Industry Breeds Corruption
January, 08 2009
Houston, United States - Local NGOs subcontracted by a multi-million-dollar microfinance programme are taking bribes from borrowers, according to the fund’s directors. ...
Uganda: Interest Rates Still High Despite Competition
January, 08 2009
Kampala, Uganda - Competition for customers and space in urban areas heightened, this year, as new commercial banks opened business in Uganda while old ones have expanded to new locations and all are opening branches across the country. Yet, despite the increased banks, interest rates have continued to be high. ...
P2P Lending Trends to Expect in 2009
January, 07 2009
- Predictions on what trends and developments can be expected in peer-to-peer lending 2009 ...
Microfinance Forum 2009 to Take Place in Vienna
January, 07 2009
Vienna, Austria - Uniglobal Research today announced that this year's Microfinance Forum will take place in Hotel Intercontinental Vienna on 19-20 March. Following the huge success of last year's forum in Budapest the event promises to be the major industry meeting point ...
Pakistan: The Case of Microfinance in the Post Crisis World
January, 06 2009
Islamabad, Pakistan - Over the past year, the Pakistani economy has faced many challenges including a growing fiscal deficit, a plummeting exchange rate and an increased inflationary pressure caused by rising energy and commodity prices. The current economic scenario creates a multidimensional dilemma for microfinance institutions (MFIs). ...
Iraq: Microfinance in Uniform
January, 05 2009
Washington DC, United States - In Iraq, 12 microfinance institutions (MFIs) reach over 38,000 clients. Most experts would have assessed this active military zone as too insecure for microfinance organizations to operate. Yet these MFIs continue to receive both donor and military funding and are seen as important actors by the military. In fact, economic development is now part and parcel of the Army’s counterinsurgency manual ...
Nigeria: MFBs Face Challenge of Funding, High Interest Rates in 2009
January, 05 2009
Lagos, Nigeria - Despite the laudable attempts of microfinance banks to reduce the nation’s poverty level, not much has been achieved, perhaps as a result of limited funds available to the sub-sector. However, the growth of microfinance banks since their inception has demonstrated that the less-privileged can have access to financial services. ...
Incofin Has Realized its First Equity Participation in India in ASOMI, the Leading MFI in the State of Assam (North-Eastern India)
January, 05 2009
Brussels, Belgium - In the last week of December 2008, Incofin signed an agreement with Asomi, the leading microfinance institution in the state of Assam (North-Eastern India). Rural Impulse Fund acquired 25% of the capital of Asomi. The microfinance institution has 40 branches and serves 30,000 clients. Asomi is one of the few microfinance banks reaching out to the 20 million, mainly rural, inhabitants of Assam, who do hardly have any access to microfinance services ...
Building Wealth with Tens of Thousands of Small Accounts
January, 04 2009
London, United Kingdom - Leo Seiler is fond of telling the story of Amadeo Giannini, a microcreditor who over 100 years ago saved many farmers and small merchants when their region was racked by a severe earthquake and fires ...
India: Micro-finance Needs Regulated Growth
January, 03 2009
Chennai, India - These are exciting times for microfinance. While competition bodes well for efficiency of the sector as a whole, unregulated and mindless competition could well end up hurting the entire industry and cause irreparable damage to the vulnerable segments of society that it seeks to serve, says P. N. Vasudevan ...

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