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USAID to Invest $30m in Nepal
March, 30 2011
Kathmandu, Nepal - The US Agency for International Development (USAID) on Tuesday (March 29) launched its Nepal Economic, Agriculture and Trade (NEAT) project for improving business competitiveness, food security and microfinance to foster economic growth of the country ...
Habitat for Humanity Partners with ASK Group to Launch MicroBuild India Fund
March, 28 2011
Mumbai, India - Habitat for Humanity International and Habitat for Humanity India have signed a new agreement with the ASK Group, securing their investment in the MicroBuild India Fund, a new initiative that will help more than 60,000 low-income families access small loans to improve or repair their homes over the next five years ...
India: ADB Refuses to Back Loans to Andhra MFIs
March, 24 2011
Mumbai, India - The Asian Development Bank’s (ADB’s) backing for bank loans to microfinance companies in India will come with a rider. The Manila-based development finance institution has decided not to guarantee loans directed to Andhra Pradesh, where the microfinance activity has fallen sharply due to strict rules introduced by the state government in October last year ...
Yunus Says Borrowers Are Core of Grameen Bank
March, 24 2011
Bangladesh - Bangladeshi Nobel laureate Muhammad Yunus is facing challenging times. On March 2, Bangladesh's central bank ruled that he must step down as managing director of Grameen Bank, the institution he founded in the 1970s to get small loans to poor farmers without collateral. The success of Grameen won Mr. Yunus international acclaim and helped spawn the global microfinance industry. The bank and Mr. Yunus shared the 2006 Nobel Peace Prize. ...
Banking the Unbanked in Malawi
March, 24 2011
Washington DC - The World Bank Board of Directors today approved a $28.2million credit for the Financial Sector Technical Assistance Project (FSTAP) to help increase access to finance for about three and a half million Malawian adults who are currently unbanked, but bankable. ...
Rwanda: MFIs Seek Government Support
March, 19 2011
Kigali, Rwanda - An official from the Association of Microfinance Institutions in Rwanda (AMIR), yesterday said that Microfinance Institutions (MFIs) are currently facing barriers which affect their effective delivery ...
IFC Invests in New Microfinance Bank to Help Pakistan’s Farmers Get Loans
March, 16 2011
Islamabad, Pakistan - IFC, a member of the World Bank Group, is improving access to finance for Pakistan's farmers by investing to transform microcredit operations of the National Rural Support Program-one of the country's leading microfinance institutions-into a regulated, deposit-taking microfinance bank ...
India: Lack of Funding Still Plagues India Microlenders
March, 15 2011
New dehli, India - Six months after the state of Andhra Pradesh slapped restrictive laws on India's microlenders, availability of funding continues to plague the once-thriving lenders to the poor despite official encouragement ...
Pakistan: the State Bank to Launch Pound 10m Financial Innovation Challenge Fund
March, 12 2011
Karachi, Pakistan - The State Bank of Pakistan (SBP) will soon launch a pound 10 million financial innovation challenge fund.This was stated by the Deputy Governor of SBP, Yaseen Anwar on Saturday. He informed that the central bank will soon launch a 10 million pound Financial Innovation Challenge Fund to spur innovations in the financial services products and delivery channels in the country ...
Tanzania set to benefit from United Nations Loan to Boost Rural Economy
March, 10 2011
New York, USA - The United Nations fund tasked with combating rural poverty has extended a USD 90 million loan to Tanzania to strengthen access to rural financial services and markets, and promote private sector development in the East African country, the agency announced on Wednesday ...
AfDB Inaugural Thought Leadership Seminar on Boosting MSMEs in Africa
March, 09 2011
Tunis, Tunisia - The Chief Economist and Vice-president, Mthuli Ncube, on Wednesday, 9 March 2011, launched the Bank’s inaugural Thought Leadership Seminar on one of the most critical challenges for accelerating African development: “boosting the growth of MSMEs (micro, small and medium enterprises) ...
Record 128 Million of World’s Poorest Received a Micro-Loan in 2009
March, 07 2011
Washington DC - More than 128 million of the world’s poorest families received a microloan in 2009—an all-time high, according to a report released today by the Microcredit Summit Campaign. Assuming an average of five persons per family, this means that loans to 128 million poorest clients affected some 641 million family members, which is greater than the combined population of the European Union and Russia. ...
India: SKS in Rupie 60-crore Securitisation Deal
March, 02 2011
India - SKS, the largest microfinance institution (MFI) in the country, has closed a Rs 60-crore (USD 13 million) securitisation deal with a non-banking finance company. It is the first such deal after the turmoil for the sector over recent months in Andhra Pradesh and elsewhere. ...
Bangladesh Nobel Winner Muhammad Yunus is Sacked
March, 02 2011
Dhaka, Bangladesh - Bangladeshi Nobel laureate Muhammad Yunus has been fired from the Grameen microfinance bank he founded, bank officials have told the BBC. Bangladesh Bank said that Prof Yunus has violated the country's retirement laws ...
Japan: The Launch of Daiwa Microfinance Fund
March, 01 2011
Tokio, Japan - Daiwa Securities Group has developed the Daiwa Microfinance Fund to help poor and low-income entrepreneurs in developing countries increase their access to financial services. ...