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Liberia: CBL Moves to Revive 'Rural Economy'
December, 30 2014
Liberia - In a strong, well-articulated speech delivered in Monrovia on Tuesday, December 30, the Executive Governor of the CBL, Dr. J. Mills Jones, announced four key measures for the revitalization of the rural economy during this Ebola crisis
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India: Aavishkar Venture Capital to Raise $400 Million in 2015
December, 25 2014
India - Aavishkar, the country's biggest social entrepreneurship-focused venture capital fund, is set to raise $400 million (Rs 2,500 crore) in 2015. This would be the biggest amount raised by any fund focusing on the social sector or impact investing in the country
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Building Big Backbones for Innovation
December, 22 2014
Global - Financial inclusion has evolved significantly since the days of microfinance. Today, instead of building small financial institutions to offer services to marginalized populations, partnerships are being built with huge banks and telecom providers that leverage their infrastructure, human resources, and financial capital to offer financial services across entire countries
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Private Schools Abound in Africa’s Slums but Financing Is Scarce
December, 18 2014
Africa - Globally, impact investment in the education sector is still nascent. But interest is growing, said Yasemin Saltuk, co-author of a 2010 JP Morgan report which estimated that the potential required impact investment capital in the low-fee private education market within ten years could be $5bn-$10bn, providing a $2.6bn-$11bn profit opportunity
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$10m Financing for Lending to Small and Medium Business in Kyrgyzstan
December, 17 2014
Kyrgyzstan - The European Bank for Reconstruction and Development (EBRD) has arranged a US $10 million financing package for Bai Tushum Bank (BTB), one of its partner banks in Kyrgyzstan. For the first time, the German development finance institution, DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH – is providing lending to Bai Tushum alongside the EBRD
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Myanmar: Anticipating a Leap-frog in Development Through Financial Inclusion
December, 17 2014
Myanmar - The development of the rural financial system is particularly critical. Of all the segments of Myanmar’s economy, the rural sector is the most underserved by the formal financial system: only 2.5% of all loans go to this sector, even though it represents 30% of GDP and two-thirds of employment
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EFSE Lends 10 Mln Euro to Halkabank Macedonian Unit to Back MSEs
December, 16 2014
Macedonia - The European Fund for Southeast Europe (EFSE) said on Tuesday it provided a 10 million euro ($12.4 million) senior loan to the Macedonian unit of Turkey's Halkbank in support of the housing sector as well as micro and small enterprises (MSEs) in the country
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MasterCard Sees Opportunity With Nigerian e-ID Cards
December, 15 2014
Nigeria - There’s a lot of untapped potential in the Nigerian commerce market — which is growing — and MasterCard has discovered a marketing niche with the country’s national high-tech e-ID card pilot project
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Five Ways Social Entrepreneurs Use Technology to Increase their Impact
December, 10 2014
Global - Technology for the sake of technology is a waste of precious resources. Social entrepreneurs need to understand the deep value that ICT can bring to social change when it is offered in context, with appropriate training, and with the intent of empowering the user
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India: SKS Micro Surges on UBS Report
December, 10 2014
India - Stocks of SKS Microfinance shot up over 10 per cent on Wednesday following a positive report by global financial services firm UBS on the country’s only listed micro-lending company.
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Gates Foundation Awards $11 Million for Financial Inclusion in Africa
December, 08 2014
East Africa - The Bill & Melinda Gates Foundation has announced an $11 million grant to MasterCard in support of a new initiative to develop practical and cost-effective financial tools that expand access to financial services for tens of millions of people in East Africa
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Nigeria: FINCA Holding USA Launches Microfinance Bank Operations
December, 08 2014
Nigeria - FINCA, a global market leader in microfinance network, with 30 years of experience, and operating in 23 countries across Africa, Latin America, Eurasia and the Greater Middle East and serving 1.7 million clients, has launched its first branch of FINCA Microfinance Bank Limited in Nigeria
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India: Many Microfinance Institutions Keen on Small Bank Licence
December, 08 2014
India - A number of microfinance institutions (MFIs) are keen to apply for a small bank licence, despite lingering concerns over the high cost of banking operations, the difficulty in building a robust base of retail deposits and the need to comply with tougher regulatory norms
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Poor Behaviour
December, 06 2014
Global - Paying attention to how the poor actually think would also imply big changes to financial-inclusion policies, encouraging financial products that people want to buy
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Efina Survey Reveals 39.6Mn Adults in Nigeria Still Financially Excluded
December, 06 2014
Nigeria - According to Ms. Modupe Ladipo,chief executive officer of EFInA, “The good news is that, since EFInA started measuring financial access in 2008, the number of Nigerian adults with access to formal financial services (such as bank accounts, insurance, pensions, mobile money or microfinance bank products) has increased by 25 million
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Does Information Overload Affect Uptake of Financial Services?
December, 05 2014
Global - There is great opportunity for MFIs and others to use their existing infrastructure and relationships to offer non-credit services, but it comes with the risk that consumers may not understand or use the information provided to make decisions that best address their complex financial needs
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Open India: New Interactive App Features State-level Sectoral Data
December, 03 2014
India - What is the World Bank Group (WBG) doing to help address India's development challenges? And how is the Bank doing in implementing its programs in India's low-income states? These are some of the questions that are addressed via Open India (openindia.worldbankgroup.org), a new web-based app that lays out the WBG's Country Partnership Strategy (CPS), operational projects, and knowledge products in India
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Africa: Vodacom Looking to Expand Use of M-pesa
December, 01 2014
Africa - Vodacom is in talks with small and big companies with the aim of getting them to use its mobile payment platform, m-pesa, to pay salaries to employees and allow customers to pay for goods using the system
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India: Payments, Small Banks to Ring in Innovation
December, 01 2014
India - The Reserve Bank of India (RBI) on Thursday released the final guidelines for licensing of payments and small banks. These banks are intended to cover the unbanked and underbanked areas and increase banking penetration in the country, stated the circular
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