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Microfinance: Co-op and Deutsche Fund Will Help Poor Localities
May, 31 2009
United Kingdom - A new microfinance fund set up by the Co-operative Bank and Deutsche Bank will target credit unions and co-operatives directly, rather than going through local banks. The $50m (£31m, €35m) Global Co-operative Development Fund, to be launched later this week, aims to provide working capital for some of the world’s poorest communities in Latin and Central America, central Europe and Asia. ...
India: The Race to the Bottom
May, 29 2009
India - Banks are building innovative distribution channels through micro-finance institutions to reach the bottom of the pyramid ...
Share Microfin To Raise $50 Million From IFC, Others
May, 28 2009
India - Hyderabad-based Share Microfinance Ltd, one of the largest microfinance institutions (MFI) in India, is raising a $50 million round of equity funding. International Finance Corp (IFC), the private equity arm of the World Bank, is looking to invest in the firm with other investors. Share Microfin has raised funding from Legatum Ventures Ltd and Aavishkar-Goodwell India Microfinance Development Co. Ltd ...
Kenya: New Law to Make Banking Easier
May, 25 2009
Kenya - Savings and credit cooperative society members will soon be able to access their money through commercial banks even if they do not have bank accounts.This will, however, be possible if Parliament passes changes to the Banking Act ...
Crisis Hits Micro-Loans in Eastern Europe
May, 21 2009
London, United Kingdom - The global financial crisis is reducing the pool of small unsecured loans for the poor, particularly in eastern Europe, just as state resources for supporting the worst-off are dwindling, an expert said ...
Obama Administration Nominates Microfinance Leader
May, 20 2009
Boston, United States - ACCION International, a pioneer and leader in microfinance, today announced that María Otero, president and CEO, has been nominated by the White House as Under Secretary of Global Affairs at the Department of State. Ms. Otero has expressed her intention to accept the appointment following confirmation by the Senate Foreign Relations Committee, which is anticipated within several weeks. ...
Microfinance Funds Continue to Grow Despite the Crisis
May, 14 2009
Washington D.C., United States - So far, microfinance funds have been relatively unscathed by the financial crisis that has wreaked havoc on most asset classes around the world. While emerging market funds have experienced a 20 percent sell-off (Anderson 2009), assets of the top 10 microfinance investment funds grew by 32 percent in 2008 ...
Big Ambitions for Small Loans
May, 14 2009
United Kingdom - A teacher by training, Lynne Randolph Patterson never expected to find herself at the helm of a multi-national financial services company ...
Peru: Microbusiness Helps Women Weather Crisis
May, 14 2009
Lima, Peru - Microenterprise is an escape valve for social tension at times of crisis, and microbusinesses do a better job of weathering the storm than bigger companies because they are used to overcoming difficulties – a positive effect that is further multiplied when it involves women ...
Citadel Getting into Microfinance in Egypt
May, 14 2009
Egypt - Citidel Capital, an Egyptian private equity firm with investments worth over $8bn, is launching a new microfinance company called Tanmeyah, the firm said today ...
Microfinance Institutions Face Growing Pressures
May, 14 2009
Washington D.C., United States - Despite the severity of the current global financial crisis, microfinance institutions (MFIs) have shown greater resilience than many traditional banks, according to a new survey conducted by CGAP, in collaboration with the MIX, the Microcredit Summit, ACCION, Grameen, FINCA, Freedom From Hunger, MicroFinance Network, Opportunity International, Women’s World Banking, and Sanabel ...
Report: Inclusive Finance - the State of Microfinance in ECA.
May, 13 2009
Warsaw, Poland - 'Inclusive Finance - the State of Microfinance in ECA. 2008 Edition' is now available on-line.
The topics covered include access to and use of various financial services, flows of remittances, market for microinsurance, supply of microcredit and saving services by MFIs at the end of 2007 and social performance of NGOs/NBFIs ...
MENA: Microfinance Remains 'Resilient' to Global Market Trends
May, 13 2009
Beirut, Lebanon - Microfinance has proven itself so far to be very resilient to what is happening globally, and its clients are not necessarily experiencing anything that is correlated to the events in the US, Bob Annibale, Global Head of Microfinance at Citigroup said on Tuesday ...
IFC and Fundación BBVA to Support Microfinance Expansion in Peru
May, 11 2009
Washington DC, United States - IFC, a member of the World Bank Group, announced that has invested $7.4 million equity in common shares of Caja Rural de Ahorro y Credito (CRAC) Nuestra Gente through a long-term partnership with Fundación BBVA para las Microfinanzas. ...
Innovative Non-Life Microinsurance launched in Indonesia
May, 02 2009
Munich, Germany - Indonesian insurance company Asuransi Wahana Tata, together with the world’s leading reinsurer Munich Re and the Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ) are launching a pilot product offering low income households in the Indonesian capital Jakarta the opportunity to insure against the direct economic losses and social risks caused by severe flooding ...
UAE: Responsible Lending Could Save Millions from Debt Trap
May, 01 2009
Dubai - About 3.2 million, or more than 50 per cent of the UAE's population of roughly 6 million, are labourers, most of whom are not being served properly by the country's banking system.The UAE's financial industry counts on the roughly 2.5 million "bankable" members of the population, leaving the rest unserved - creating an opportunity for new finance companies to tap the market ...