Global Partnerships Raises New $20M Microloan Fund

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Nov 2008
Seattle, United States, November, 17 2008 - Seattle-based Global Partnerships has raised $20 million for a microfinance fund that will extend its microloan work into two new countries.

The fund, called Microfinance Fund 2008 (MFF 2008), includes $18.5 million from 42 individual and institutional investors. It also includes $1.5 million in donor grants.

Investors will receive a “moderate” return, according to the nonprofit organization.

Global Partnerships provides capital to groups in Latin and South American countries, which then provide services such as microloans and health insurance to the working poor. With the new capital, Global Partnerships’ work will expand from six countries to eight, adding Mexico and Ecuador.

Combined with two previous investment funds worth $2 million (closed in 2005) and $8.5 million (closed in 2006), the three funds will reach nearly 1 million people, according to Global Partnerships.



 

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