Grameen Foundation, a US-based nonprofit, has announced the creation of the Alliance Program, within its Bankers Without Borders initiative, which will focus on increasing volunteerism in the microfinance and development technology sectors in Asia and Latin America.
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MICROCAPITAL BRIEF: Standard Chartered Kenya Loans Small and Micro Enterprise Programme (SMEP) $3.75m to Assist Microfinance Clients
Standard Chartered Kenya, a branch of the London-based international bank Standard Chartered, loaned KES 300 million (USD 3.75 million) to Small and Micro Enterprise Programme (SMEP), a microfinance institution (MFI) in Kenya, with the goal being to benefit over 20,000 microfinance borrowers.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Receives Funding From Michael & Susan Dell Foundation and the Ford Foundation to Expand Social Performance Initiative
Microfinance Information Exchange (MIX), a source of financial and social performance data on microfinance institutions (MFIs), funders and service providers, has received grants from the Michael & Susan Dell Foundation and the Ford Foundation to expand its Social Performance Information Program.
MICROCAPITAL BRIEF: Smart Campaign Partners With African Microfinance Network (AFMIN) and Plan International to Promote Client Protection Among African and Asian MFIs
The Smart Campaign, an initiative housed at the Center for Financial Inclusion to promote the use of a set of client protection principles, has partnered with the African Microfinance Network (AFMIN), an association of African microfinance networks, and Plan International, a UK-based children’s development organization, to promote and institutionalize client protection among microfinance institutions (MFIs) throughout Africa and Asia.
MICROCAPITAL BRIEF: Backed by G20, Ashoka Changemakers Announces 14 Winners of Small and Medium-sized Enterprise (SME) Finance Challenge
Ashoka Changemakers announced this month that it has selected 14 proposals as the winners of the SME Finance Challenge, which is hosted by Ashoka, a US-based nonprofit organization that invests in social entrepreneurship, and backed by the G-20, a group of financial ministers and central bank authorities representing 20 major economies.
MICROCAPITAL EVENT: Microfinance Investment Summit Hong Kong to Be Held December 2-3, 2010
Event Name: Microfinance Investment Summit Hong Kong
Event Date: December 2-December 3, 2010
Event Location: InterContinental Grand Stanford Hotel, 70 Mody Road, Tsimshatsui East, Kowloon, Hong Kong, China
MICROCAPITAL BRIEF: SKS Microfinance Lowers Interest Rates in Andhra Pradesh to 24.55%
SKS Microfinance, a publicly traded microfinance institution (MFI) based in India, recently announced that it will lower interest rates to for new borrowers borrowers in the state of Andhra Pradesh from 26.69 percent to 24.55 percent.
MICROCAPITAL BRIEF: Wall’s Street Advisor Services Releases “Listed Microfinance Institutions’ Shareholder Valuations and Their Stocks’ Results”
Wall’s Street Advisor Services (WSAS), a US-based consultancy, has released a report, “Listed Microfinance Institutions’ Shareholder Valuations and Their Stocks’ Results”, which considers how publicly-traded shares of microfinance institutions (MFIs) are valued.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) and Inter-American Development Bank’s Multilateral Investment Fund Release “2010 Microfinance Americas: The Top 100”
The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, in partnership with the Multilateral Investment Fund, an investment fund administered by the Inter-American Development Bank (IDB), have recently published the “2010 Microfinance Americas: The Top 100”.
MICROCAPITAL BRIEF: Andhra Pradesh Government Plans Legislation to Restrict Collection Practices of Microfinance Institutions (MFIs) After Rise in Suicides Among Borrowers
A rise in suicides among microfinance clients in the Indian state of Andhra Pradesh has the local government considering legislation to restrict the loan collection practices of microfinance institutions (MFIs) in the area.
MICROCAPITAL BRIEF: Everest Bank Seeks to Start Microfinance Operations in Nepal
Everest Bank Limited, a private bank owned partly by the Indian Punjab National Bank, recently applied to Nepal Rastra Bank, Nepal’s bank regulator, to start microfinance operations.
MICROCAPITAL BRIEF: Trickle Up, Provider of Grants, Microfinance, Training, Announces Release of Documentary Film “The Test of Poverty”
Trickle Up, an international poverty alleviation organization based in the US, has announced the release of its documentary film, “The Test of Poverty,” which covers poverty’s effects on those living on less than USD 1.25 a day and the services that can help alleviate those effects.
MICROCAPITAL BRIEF: Suicides and Criticism of Interest Rates, Collection Practices Prompt SHARE Microfinance, Spandana Sphoorty to Delay IPOs
In response to a wave of negative publicity from claims that Indian microfinance institutions (MFIs) are charging interest rates that are too high and are practicing coercive loan recovery methods, some Indian MFIs are postponing their plans to raise funds.
MICROCAPITAL BRIEF: Peru Remains on Top of “Global Microscope on the Microfinance Business Environment 2010” Survey by the Economist Intelligence Unit
The Economist Intelligence Unit (EIU), the business information arm of the Economist magazine, released its Global Microscope on the Microfinance Business Environment 2010 survey, placing Peru as the country that is most friendly to microfinance businesses for the third year in a row, followed by the Philippines and Bolivia.
MICROCAPITAL BRIEF: Former Sun MicroSystems CEO Vinod Khosla Discusses Benefits of For-Profit Microfinance Institutions (MFIs)
Vinod Khosla, former CEO of Sun MicroSystems and founder of venture capital firm Khosla Ventures, argues that both for-profit and nonprofit microfinance models can serve a beneficial role, but ultimately points to for-profit status as the goal microfinance institutions (MFIs) should be aiming achieve.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Launches Online Training Sessions
Microfinance Information Exchange (MIX), a global, web-based microfinance information platform established in 2002, has announced the initiation of online training sessions on MIX Market, MIX’s database providing financial and social performance information on microfinance institutions, funders and service providers.
MICROCAPITAL BRIEF: CGAP Extends Deadline for 2010 Microfinance Photography Contest to October 11
CGAP (Consultative Group to Assist the Poor), a Washington-based policy and research center, recently extended the deadline for its 2010 CGAP Microfinance Photography Contest to October 11.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases the 20th Edition of the MicroBanking Bulletin (September 2010 Issue)
Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released its 20th edition of the MicroBanking Bulletin (MBB), which includes “2006-2008 MFI Trendline Benchmarks”, highlighting trends in the microfinance industry using data from 611 microfinance institutions (MFIs).