Empowering Women Campaign
April, 26 2007
Redmond, Washington - Just in time for Mother’s Day, Unitus, Inc., a nonprofit organization dedicated to reducing global poverty by increasing access to microfinance, is kicking off an innovative “Empowering Women” campaign designed to celebrate inspiring women around the world and expand access to crucial microfinance loans. Starting today, visitors to www.unitus.com/empoweringwomen can build individualized tribute pages honoring the empowering women in their lives, and in their honoree’s name, provide economic opportunity to hardworking women in developing countries ...
The Philippines: Microfinance and Remittances
April, 25 2007
Paris - Philippines, often considered the birthplace of Mbanking, have several wireless services that provide much needed support to the Bottom of the Pyramid (BOP) & the microfinance sector. ...
India: Powered by NGOs, LIC’s microinsurance covers 80 K poor
April, 24 2007
India, New Delhi - More than 5 crore policyholders will be beneficiaries of LIC’s microinsurance scheme this year. LIC’s microinsurance product, Jeevan Madhur, launched by the President of India in September last year, has succeeded in extending insurance coverage of Rs 110 crore to more than 80,000 economically under-privileged people in the society. ...
Nigeria: Certification programme for microfinance to start 2008 — CBN
April, 20 2007
Nigeria - Central Bank of Nigeria (CBN) has disclosed that a systematic certification programme for regulators and operators of microfinance will commence in January 2008, as part of the capacity building measures aimed at ensuring a robust microfinance industry in the countr ...
Securitization Can Help East Asian Development, Says ADB Report
April, 18 2007
Hong Kong, China - Securitization of assets in emerging East Asian bond markets have gathered pace after the 1997/98 financial crisis and has the potential to be used as a tool to fund the region’s massive infrastructure needs, provide support to microfinance and human resource development, a report issued by ADB says ...
Saving the world with a cup of yogurt
April, 17 2007
United States of America - Nobel Peace Prize winner Muhammad Yunus, the father of microcredit, has a new idea. It's called social business enterprise, and the first step is a yogurt factory in Bangladesh. Fortune's Sheridan Prasso reports ...
IFC, KfW forge microfinance deal for Asia
April, 17 2007
Mumbai, India - World Bank’s private sector arm, International Finance Corporation (IFC), has entered into a strategic partnership with the German development bank, KfW. The collaboration, which will be committing a sum of nearly $1 billion, is looking at targeting nearly five million microenterprises and lower-income households within Asia. ...
April, 17 2007
India - Over 500 million people in India rely on agriculture as a main source of income. While some have access to irrigation, the quality of the monsoon is still tremendously important. When the rain fails, the households suffer: not only do their own lands yield less, but they may have difficulty finding work near their village, since other farms are also suffering. Traditional methods of coping with risk, such as borrowing from nearby friends or relatives, may be less helpful when everyone is in the same predicament. ...
A microfinance path for commercial banks
April, 16 2007
Jakarta - Today, profit microfinance is becoming an emerging business. Banks of all sizes, including Citibank, Standard Chartered Bank, Deutche Bank, ANZ Bank, and ABN Amro, are actively entering this sector and developing different business models of microfinance ...
Kenya: New rules for micro-finance institutions
April, 12 2007
- Micro-finance institutions have been given until end of June, to comply with new guidelines released by the Central Bank of Kenya, on ownership and minimum capital before they are licensed. ...
Access to Finance: The Unfinished Agenda
April, 12 2007
Washington - Without access to external finance, firms cannot realize their full growth potential. This can slow down economic growth for a country as a whole. In fact, financing constraints are among the worst obstacles impeding firms’ operations and growth, especially in countries with weak financial markets and institutions ...
Bangladesh: Citibank mandated to raise $55m for BRAC
April, 11 2007
India - BRAC, the world's largest national NGO and micro-finance institution (MFI) with over five million borrowers, has mandated Citibank, N.A. Bangladesh to raise US$55 million in equivalent local currency to further expand their micro-credit programmes for low-income individuals, primarily in rural communities not reached by traditional commercial banks ...
Pakistan: Rs3bn sought for microfinance promotion
April, 11 2007
Karachi - Governor State Bank of Pakistan, Dr Shamshad Akhtar has sought Rs3 billion in subsidy from federal accounts for promotion of microfinance among poor rural communities of the four provinces of the country ...
Water and Microfinance
April, 10 2007
Paris - In many developed countries, easily available items are often taken for granted, such as water. But in developing countries safe water is a rare commodity, over a billion people suffer from lack of access to safe water ...
When a cell phone is like a cow
April, 07 2007
India - Grameen Bank has an impact on the poor, GrameenPhone on the entire economy,” says Muhammad Yunus. The idea of GrameenPhone was conceived by 36-year-old Manhattan-based venture capitalist Iqbal Quadir in 1993. It was triggered when his computer network crashed, leaving him unproductive. ...
Lending a hand
April, 05 2007
United States - Pioneered by last year's Nobel Peace Prize winner Muhammad Yunus, microfinance is the making of tiny loans to credit-poor entrepreneurs. Yunus began in 1976, with $27 loans to impoverished farmers, financed from his own pocket. Today about 10,000 microfinance institutions hold more than $7 billion in outstanding loan ...
LIC pioneers Micro-Insurance in India by e-enabling the Company's rural foray using 3i Infotech software
April, 04 2007
India - 3i Infotech Ltd on April 04, 2007 has announced that it has been awarded a contract from the Life Insurance Corporation of India (LIC), to enable Micro Insurance Agents, Institutions such as Non-Government Organizations (NGO), Self Help Groups (SHG) and Micro Finance Institutions (MFI) to transact insurance business on behalf of the Corporation in online/offline mode. LIC is one of the largest life insurance Companies in the world with an in-force policy base of 190 Millio ...
Lining Up the Loan Angels
April, 02 2007
United States of America - Critics put trendy poverty lenders to the test, and find they're neither a real business nor a real help ...