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CGAP Invites Applications for the 2006 Financial Transparency Award
July, 26 2006
- CGAP is now accepting applications for the Third Annual CGAP Financial Transparency Award from microfinance providers. The CGAP Financial Transparency Award promotes good practice MFI financial disclosure and stimulates improvements in annual financial reporting ...
Gray Ghost Purchases IDB and Norfund shares in LACIF
July, 21 2006
- The Gray Ghost Microfinance fund is announcing the purchase of all shares held by the Inter-American Development Bank (IDB) and the Norwegian Investment Fund for Developing Countries (Norfund) in the Latin American Challenge Investment Fund (LACIF) ...
Iraqi Economy : Microfinance program expected to generate employment in Iraq
July, 18 2006
- One of the Iraqi microfinance institutions established with the support of the U.S. Agency for International Development (USAID)-funded IZDIHAR project recently signed an agreement with the U.S. Military which will provide the funding necessary to cover initial operating expenses until revenue generated from the microfinance business will enable it to fully cover its own costs ...
ICICI-FINO to play big brother to MFIs
July, 14 2006
India - ICICI Bank is now incubating Financial Information Network & Operations (FINO), a technology backbone company for grassroots financial entities such as micro-finance institutions (MFIs) serving people with no banking facility. It has earlier done the same for rating agency Crisil and commodities exchange Ncdex ...
IFC Invests in FINDESA, a Growing Microfinance Institution in Nicaragua
July, 12 2006
Managua, Nicaragua - The International Finance Corporation, the private sector arm of the World Bank Group, has signed an agreement to provide $5 million in loans to Financiera Nicaragüense de Desarrollo S.A, one of Central America's leading regulated microfinance institutions. IFC will also provide technical assistance ...
Mennonites back life-changing Brazilian micro credit scheme
July, 06 2006
Brazil - FRAME, which in Portuguese stands for Rotating Fund for Micro-Entrepreneurs, includes four funds which have aided some 950 families since the programme began in 1997. Each fund operates through community groups or associations, including some within churches. The association is responsible for making sure each member is able to repay his or her loan. Mennonite Central Committee is a key partner in the venture ...
BRAC launches micro-credit securitisation
July, 06 2006
- BRAC, a local NGO, yesterday launched the world’s first micro-credit securitisation programme structured by RSA Capital, Citigroup, the Netherlands Development Finance Company (FMO) and KfW of Germany ...
Company Receives First AAA Bond Rating In Bangladesh
July, 06 2006
Dhaka, Bangladesh - An innovative AAA rated bond for Bangladesh Rural Advancement Committee (BRAC) Special Purpose Vehicle (SPV), with Citigroup as one of the partners, will help Bangladesh Microfinance Institutions (MFIs) open a new channel of financing in the country ...