Grameen Foundation, a US-based nonprofit organization, recently announced that it has received grants totaling USD 125,000 from the US-based microfinance funder, Citi Foundation. USD 100,000 is directed to Grameen’s efforts to improve human capital management practices at microfinance institutions (MFIs), while the remaining USD 25,000 is in support of Grameen’s broader strategic initiatives. The details of these broader initiatives have not been specified.
A press release from Grameen claims the initiative has been helping MFIs address challenges with attracting, retaining and developing the talented staff they need to achieve their missions and attain more sustainable growth.
Alex Counts, President and CEO of Grameen Foundation, announced, “[Citi Foundation’s] participation will be critical in addressing MFIs’ need for strong, strategic talent management and leadership development. Forward-looking human capital practices are extremely important tools in enabling microfinance institutions to expand and improve their services to growing numbers of the world’s poorest people.”
About Grameen Foundation:
The Grameen Foundation, founded in 1997, is a nonprofit organization based in Washington, D.C. The Grameen Foundation aims to help microfinance institutions (MFIs) throughout the world replicate the microfinance model of the Grameen Bank http://www.grameen-info.org/. It provides financial, technological and managerial support for institutions and intends to provide new business opportunities and telecommunication services to the rural poor. The Grameen Foundation works with MFIs in about 37 countries worldwide. Though the Grameen Foundation is independent of the Grameen Bank, Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors.
About Citi Foundation:
The Citi Foundation provides grants and guarantees focusing on the areas of microfinance, small and growing businesses, education, asset building and financial education, and neighborhood revitalization. Citi Foundation has total assets of USD 65.8 million, USD 12.3 of which is allocated to 152 total active investments as of 2009.
By Matthew Fox, Research Assistant
Sources and Additional Resources
Grameen Foundation: Press Release 5 Aug 2010: http://www.grameenfoundation.org/press-releases/grameen-foundation-expanding-program-address-human-capital-issues-microfinance-suppor
MicroCapital Universe: Grameen Foundation: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation
MicroCapital Universe: Citi Foundation: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Citi+Foundation
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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