Global Partnerships and Unitus in Collaboration to Reduce Currency Risk for Micr...

Nov 2008
Seattle, United States, November, 18 2008 - Global Partnerships and Unitus, along with a number of the world’s other leading microfinance investment vehicles, have created an organization to handle bulk currency swaps.

The new organization, MFX Solutions, will allow Global and Unitus to lend in local currency. Because of the volatility of exchange rates, lending in local currency significantly reduces risk for microfinance institutions in non-dollar or euro economies. As a result, interest rates on loans to micro borrowers are lower.

Puget Sound Business Journal reported on the collaboration and on Global Partnerships’ new fund that leverages $1.5million in philanthropy to make $20million available for microloans.

Source : SeaMO

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