Search Results for: "United nation"
MICROCAPITAL STORY: United Nations International Fund for Agricultural Development (IFAD) Loans $27m to Support Nigerian Microfinance Sector Development
The United Nations’ International Fund for Agricultural Development will provide USD $27 million in debt capital to support the expansion of microlending activity in Nigeria, with the goal of creating a sustainable rural financial system in the West African nation. Co-financed with nonprofit Ford Foundation, the financing aims to build ties between Nigerian MFIs and formal financial institutions in twelve Nigerian provinces. While Nigerian MFIs currently provide services to a variety of demographics, IFAD hopes that the capital infusion will particularly improve access to financial services to women, young people, and other marginalized groups. It is unclear whether IFAD’s financial assistance will be allocated to a Nigerian government agency such as central bank, or if it will be allocated directly to MFIs operating in-country.
MICROCAPITAL STORY: New Amendment and Results from United Nations Development Program (UNDP) Microfinance Investment and Technical Assistance Facility (MITAF) Project in Sierra Leone
The Government of Sierra Leone, the United Nations Development Program (UNDP), the United Nations Capital Development Fund (UNCDF), the Catholic Organization for Relief and Development Aid (CORDAID), and KfW Entwicklungsbank (KFW) have decided to seek outside funding to support their joint program, the Microfinance Investment and Technical Assistance Facility (MITAF) project. The goal of MITAF is to bolster the microfinance sector in Sierra Leone.
MICROCAPITAL STORY: The United Nations Development Programme Encourages Microfinance by Publishing “Creating Value for All: Strategies for Doing Business with the Poor” Report as part of its Growing Inclusive Markets Initiative
The United Nations Development Programme (UNDP) recently published a report entitled “Creating Value for All: Strategies for Doing Business with the Poor”. The report is comprised of 50 case studies investigating both small and medium-sized companies (SMEs) and multinational corporations. It examines social and financial results on both local and international levels. There are eight chapters: Opportunities to Create Value for All, Constraints Standing in the Way, Adapt Products and Processes, Invest in Removing Market Constraints, Leverage the Strengths of the Poor, Combine Resources and Capabilities with Others, Engage in Policy Dialogue with Others, and Taking Action.
PRESS RELEASE: United Nations Group on Inclusive Financial Sectors Issues Final Recommendations on Increasing Access for Poor People
Source: United Nations.
PRESS RELEASE: Anne Hastings of Haitian Microfinance Institution Fonkoze Receives Women Together Award at United Nations
Source: Fonkoze.
MICROCAPITAL STORY: The United Nations Development Programme (UNDP) in Angola Allocates $32m for Economic Growth Programs Which will Include Microfinance Activities and Economic Training for the Youth to be Implemented in Partnership with Banco Nacional de Angola, Chevron Corporation, and Development Workshop Angola
MacauHub, a free news service based in Macau, China, reported on February 25th that the United Nations Development Programme (UNDP) in Angola, a part of the United Nations’ (UN) global development network, has allocated USD 32 million for “programs aimed at the social and economic growth of Angola.” In particular, a two-year old poverty reduction program will benefit, which “aims to provide youngsters working in the informal market with training on the economy, making it possible for them to access credit to create their own business.” The program, for which no official name is given in the article, is in partnership with Banco Nacional de Angola (the Central Bank of Angola), the energy giant Chevron Corporation, and Development Workshop Angola (DW Angola), a non-profit organization working in Angola since 1981.
NEWS WIRE: China: Ericsson and United Nations Development Programme (UNDP) Plan Mobile Financial Services for Rural Areas
Source: China Daily.
MICROCAPITAL STORY: The United Nations Relief and Works Agency (UNRWA) Provides Loans for Young Women Entrepreneurs in Syria through its Microfinance and Microenterprise Department (MMD)
The Syrian Microfinance and Microenterprise Department (MMD) of the United Nations Relief and Works Agency (UNRWA), an agency of the United Nations (UN) providing basic services to Palestinian refugees throughout the Middle East since its inception in 1950, financed over 4,700 loans in 2007 totaling USD 13.3 million, according to Mohammad Al-Khatib, the Acting Credit Operation Manager at the Syria National Office. The microfinance institution (MFI), which distributes loans to both individuals and groups, concentrates its efforts in the Palestinian refugee camps of Al-Amin, Saida Zeynab, and Yarmouk. However, the program is also open to Syrian nationals, as a recent UNRWA-Syria press release states.
MICROCAPITAL STORY: The United Nations Capital Development Fund Expands Microfinance Education Course with State University of New York
The United Nations Capital Development Fund (UNCDF) will work with the State University of New York (SUNY) to expand its Microfinance Distance Learning (MFDL) course. SUNY will further develop the program and distribute it to a broader audience in the United States and abroad.
PRESS RELEASE: United States: United Nations Capital Development Fund (UNCDF) to Partner with State Univeristy of New York (SUNY) to Expand Microfinance Distance Learning
Source: United Nations (UN).
PRESS RELEASE: Cadbury to Work With United Nations Development Programme (UNDP) to Expand Access to Microfinance for Cocoa Farmers in Ghana and Elsewhere
Source: Cadbury.
MICROCAPITAL STORY: United Nations High Commissioner for Refugees (UNHCR) Signs $700,000 Agreement with Venezuelan Microfinance Institution Banco del Pueblo Soberano
According UNHCR (United Nations High Commissioner for Refugees) spokesperson William Spindler at a press briefing at the Palais des Nations in Geneva, the UNHCR has signed an agreement worth USD 700,000 with Venezuelan microfinance institution (MFI), Banco del Pueblo Soberano. The grant will be used by the bank to distribute micro-credits to about 10,000 Colombian refugees and asylum seekers in Venezuelan border states of Zulia, Táchira and Apure, and some 200,000 unregistered Colombians who are seeking international protection in Venezuela from civil conflict.
PRESS RELEASE: United Nation’s International Fund for Agricultural Development (IFAD) Supports $46m Programme to Boost Microfinance in Pakistan
Source: International Fund for Agricultural Development (IFAD).
MICROCAPITAL STORY: Government of Yemen, Social Fund for Development (SFD) of Yemen, and Arab Gulf Program for United Nations Development Organizations (AGFUND) Invest USD 30 Million in Microfinance I
A shareholding contract for Yemeni microfinance institution (MFI) Alamal Micro Finance Bank has been signed by representatives from the Government of Yemen, Yemeni government-established Social Fund for Development (SFD), and the Arab Gulf Program for United Nations Development Organizations (AGFUND). Each party has a USD 10 million minority share in the Yemeni MFI. Alamal Micro Finance Bank is scheduled to begin microfinance operations this year.
MICROCAPITAL STORY: United Nations to Implement USD 4 million Microfinance Project in Malawi
The United Nations Development Program (UNDP) and United Nations Capital Development Fund (UNCDF) are each contributing USD 2 million into FIMA, the Financial Inclusion in Malawi Project, an initiative to increase the outreach of financial services within the low-income population.
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MICROCAPITAL STORY: United Nations (UN) Advisors Group on Inclusive Financial Sectors Continues Advocacy and Research of Microfinance
In 2005, the Advisors Group of the United Nations Year of Microcredit, which had performed data collection and analysis of microfinance on behalf of the UN, recommended that the UN create another Advisors Group to continue the promotion of microfinance. The UN responded with the formation of the Advisors Group on Inclusive Financial Sectors.
MICROCAPITAL STORY: UNDP (United Nations Development Program) holds National Microfinance Forum in Sierra Leone
A forum took place from May 22nd to May 23rd, in Freetown, Sierra Leone, at the Kimbima Hotel. Organizations involved include KFW, a German Microfinance Institution (MFI), UNCDF (United Nations Capital Development Fund), Cordaid (Catholic Organization for Relief and Development Aid), and the Government of Sierra Leone.
The forum met to evaluate the microfinance project ‘Development of Sustainable Pro-Poor Financial Sector in Sierra Leone 2004-2009,’ which aims to aid with the Millennium Development goals by “increasing sustainable access to financial services for poor and low-income people in Sierra Leone. The program will contribute to this goal by developing a competitive and sustainable inclusive financial sector that provides access to financial services to poor and low-income people in general and micro and small businesses in particular.” For further information and details, refer to the UNCDF’s Document on the project.