Citigroup announced at the Clinton Global Initiative (CGI) that it will lend $100 million to several MFIs. $70 million of the loans will be guaranteed by the US government’s Overseas Private Investment Corporation (OPIC). Citigroup has compiled an initial list of 132 microfinance institutions in 39 countries to which it will loan up to USD5 million. It will make loans in the local currency of the MFIs and focus its attention on smaller institutions which previously had not received much funding.
Continue reading “Citigroup to Invest $100 million in Global Microfinance”
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