MICROCAPITAL STORY: Microfinance Promoter Clinton Global Initiative to Hold 2007 Annual Meeting in New York City

CLINTON GLOBAL INITIATIVE 2007 ANNUAL MEETING – SEPTEMBER 26-28, 2007, NEW YORK, NEW YORK, USA

The Clinton Global Initiative (CGI) is a non-partisan, global effort to bring together world leaders to discuss pressing world challenges in education, energy and climate change, global health and poverty alleviation. At the core of the CGI is its annual meeting which began in 2005 and is designed as a working session to generate innovative solutions to problems across the globe. The CGI is a project of the William J. Clinton Foundation, a non-profit organization founded by US President Clinton, which aims to strengthen the capacity of people in the United States and throughout the world to meet the challenges of global interdependence.

The 2007 meeting will include over 1,000 leaders from business, non-government organizations (NGOs), foundations, academia and government. The meeting will be held September 26-28, 2007 in New York City and offers various concurrent working sessions each day on the four primary areas of focus.

Microfinance is often a key subject at the annual meeting. The CGI has received praise for its focus on microfinance as a meeting topic and its financial commitments to the industry. During last year’s meeting, Citigroup announced it was to invest USD 100 million in global microfinance. American International Group (AIG) and ACCION International announced a USD 5.25 million, three-year partnership. Also during last year’s meeting, the UK investment bank, Standard Chartered Bank (SCB), announced it would invest USD 500 million within five years. SCB’s microfinance investment reached 200 million in less than one year and plans to reach its USD 500 million goal within two-years. In 2005, the Grameen Foundation USA (GFUSA), a non-profit US offshoot of Grameen Bank, announced the launch of a USD 50 million guarantee fund. We can certainly expect more announcements of this kind to appear at the 2007 meeting.

Participation in the meeting is only available for members and by invitation only. Membership is limited to a select and diverse group of heads of state, CEOs, media voices, philanthropists and foundation heads, religious leaders, original thinkers and those who run highly effective non-profit organizations. To be considered for membership, email your contact information and a short bio to membershipinfo@clintonglobalinitiative.org.

The CGI notes that to ensure the highest quality and most productive working environment for the Initiative, membership is designed for those at the Chairman, President or CEO level. If accepted, the fee for membership is USD 15,000 per calendar year.

For more information, visit the CGI website at http://www.clintonglobalinitiative.org.

-Steven Craig

Additional Resources:

MicroCapital.org article, July 6, 2007: Great Britain’s Standard Chartered Bank (SCB) Increases Loan Investments by USD 200 Million for Microfinance Worldwide

MicroCapital.org article, December 4, 2006: BusinessWeek Praises the Involvement of the ‘Tech Elite’ in the Microfinance Sector

MicroCapital.org article, October 2, 2006: Standard Chartered to Establish $500 Million Microfinance Facility

MicroCapital.org article, September 28, 2006: American International Group (AIG) and ACCION International Announce $5.25 million, Three-year Partnership

MicroCapital.org article, September 28, 2006: Citigroup to Invest $100 million in Global Microfinance

MicroCapital.org article, September 30, 2005: Dr. Yunus Goes Big Time while his US Spin-off Announces $50 Million Guarantee Fund for Microfinance Investment