The Small Enterprise Education and Promotion (SEEP) Network, an association of microfinance institutions (MFIs) and non-governmental organizations (NGOs) headquartered in Washington DC, is launching the planning phase of its Global Savings Campaign. In conjunction with Citigroup Foundation, the charitable branch of US-based financial services provider Citigroup, the initiative aims to provide widespread access to savings services as well as reducing transaction costs for MFIs.
The planning stage, which is expected to last one year, includes identifying existing knowledge gaps in the field, developing a multi-year agenda, forming alliances with other stakeholders, and achieving a greater understanding of the needs of potential low-income savers. The budget for the effort has not been released.
Founded in 1985, SEEP connects microenterprise practitioners from around the world to develop practical guidance and tools, build capacity and help set standards to advance its mission of sustainable income in every household. Its members reportedly are active in 180 countries. The Citi Foundation provides grants and loan guarantees focusing on the areas of microfinance, small and growing businesses, education, asset building and neighborhood revitalization. As of 2010, Citi Foundation reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 63.2 million.
By Brett Cohen, Research Associate
About SEEP Network
The Small Enterprise Education and Promotion (SEEP) Network, which was founded in 1985, connects microenterprise practitioners from around the world in an effort to develop practical guidance and tools, build capacity and help set standards to advance its mission of sustainable income in every household. Its members reportedly are active in 180 countries. Headquartered in Washington DC, SEEP is a non-profit governed by its members, which include microfinance institutions (MFIs) and nongovernmental organizations (NGOs). As of 2010, SEEP reports assets of USD 6.9 million.
About Citi Foundation
The Citi Foundation provides grants and guarantees focusing on the areas of microfinance, small and growing businesses, education, asset building and neighborhood revitalization. As of 2010, Citi Foundation reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 63.2 million of which USD 12.8 million is allocated to microfinance investments. Citi Foundation is the charitable arm of US-based financial services provider Citigroup.
Sources and Additional Resources
SEEPnetwork.org, press release: “Citi Foundation and SEEP Launch Planning Phase of Global Savings Campaign”
http://www.seepnetwork.org/citi-foundation-and-seep-launch-planning-phase-of-global-savings-campaign-pages-232.php
MicroCapital.org, story: MICROCAPITAL BRIEF: Small Enterprise Education and Promotion (SEEP) Network Releases “Pocket Guide to the Microfinance Financial Reporting Standards: Measuring Financial Performance of Microfinance Institutions”
https://www.microcapital.org/microcapital-brief-small-enterprise-education-and-promotion-seep-network-releases-“pocket-guide-to-the-microfinance-financial-reporting-standards-measuring-financial-performance-of-microfin/
MicroCapital.org story: “MICROCAPITAL BRIEF: Citi to Buy 1.1m Tons of Carbon Credits from MicroEnergy Credits, Offsetting Cost of Efficient Heaters Finance?by Mongolian Microfinance Institution XacBank”
https://www.microcapital.org/microcapital-brief-citi-to-buy-1-1m-tons-of-carbon-credits-from-microenergy-credits-offsetting-cost-of-efficient-heaters-financed-by-mongolian-microfinance-institution-xacbank/
MicroCapital Universe Profile: SEEP Network
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=SEE…
MicroCapital Universe Profile: Citi Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Cit…
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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