A United Nations-backed initiative, “Mubadarati,” that was announced February 27, 2012, will provide loans to young people in the West Bank and Gaza.
Search Results for: refugee
MICROCAPITAL BRIEF: Microinsurance Catastrophe Risk Organization (MiCRO) Created to Help Protect Microentrepreneurs in Haiti
A donor-capitalized insurance facility, Microinsurance Catastrophe Risk Organization (MiCRO), has been developed by a syndicate of stakeholders in an effort to empower Haiti’s microentrepreneurs to protect themselves against the economic aftermath of natural catastrophes.
MICROCAPITAL BRIEF: Microfinance Risk Management Develops “Simple Poverty Scorecard for Jordan,” Expanding Range of “Progress Out of Poverty” Index
Microfinance Risk Management Limited Liability Corporation (LLC) recently developed a simple poverty scorecard that can be used to track the poverty level of individual households and hence the poverty rate of communities in Jordan.
MICROCAPITAL BRIEF: Microfinance Reportedly Aiding Wildlife Conservation Efforts in Rural Tanzania
World-renowned primatologist Jane Goodall and her TaCare Program, a microcredit program focusing on rural populations surrounding Gombe National Park in Tanzania, report success in preserving wildlife and forests and improving living conditions for poor Tanzanian communities through microfinance.
MICROCAPITAL BRIEF: South Korean Financial Services Commission (FSC) Announces Stricter Lending Criteria for Sunshine Loans from Microfinance Institution Smile Microcredit Bank
The South Korean government recently announced the installment of stricter lending criteria for its “Sunshine” loans in order to decrease loan defaults. Sunshine loans are an offering under Smile Microcredit Bank, a state-run microfinance program established in 2009 to provide unsecured loans to low-income households through partnerships with the private sector.
MICROCAPITAL BRIEF: South Korean Government Launches Sunshine Microfinance Loan Program under Smile Microcredit Bank for Low-income Households
The South Korean government has launched “Sunshine Loans,” a new offering under Smile Microcredit Bank – a state-run microfinance program established in 2009 to provide unsecured loans to low-income households through partnerships with the private sector. Over the next five years, the program is slated to extend KRW 10 trillion (USD 8.45 billion) to low-income households. The program will be implemented by a variety of financial institutions, including the National Agricultural Cooperative Foundation, the National Federation of Fisheries Cooperative, the National Credit Union Federation of Korea, the Korean Foundation of Community Credit Cooperatives and several unnamed private mutual savings banks.
MICROCAPITAL BRIEF: Southern Sudan Holds Microfinance Conference with Sponsorship from United States Agency for International Development (USAID)
With sponsorship from the United States Agency for International Development (USAID), a government agency that provides international economic and humanitarian assistance, Southern Sudan recently held what was billed as its first microfinance conference. The aim of the conference, which was held in the regional capital of Juba, was to provide a forum for stakeholders to exchange views about the status of microfinance in Southern Sudan and to develop a strategy to improve microfinance in the region.
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund Invests total of $4.6m in Microfinance Banks Inencobank of Armenia, Lazika Capital of Georgia, Aregak of Armenia and Centurion of Russia
The responsAbility Global Microfinance Fund, based in Switzerland founded in 2003, has executed debt investments totaling USD 4.6 million in four microfinance banks. The MIV reports total assets of USD 358 million as of 2009, and is one of four funds operated by responsAbility, the others being responsAbility Base of the Pyramid, responsAbility Mikrofinanz-Fonds and responsAbility Microfinance Leaders Fund.
KNOW A MICROFINANCE FUND: Caucasus Credit LLC (CC)
Overview:
Caucasus Credit LLC (CC) provides wholesale agreements and technical assistance to microfinance institutions (MFIs), which are retail micro-lenders.
MICROCAPITAL.ORG STORY: Finance Minister of Bangladesh Says Climate Change is Major Factor Impeding Economic Growth for Low-Income Citizens
At a conference on extreme poverty in Bangladesh, the Finance Minister of Bangladesh, Mr. Abul Maal Abdul Muhith, announced that “global climate change poses the greatest challenge today in our poverty mitigation efforts.” He added that microcredit is not the prime tool for poverty alleviation, but that it can “very well be an aid to mitigating poverty” [1, 2].
MICROFINANCE EVENT: Azerbaijan Microfinance Association Investors Fair in Baku, Azerbaijan, October 7, 2009
Microfinance Event: Azerbaijan Microfinance Association Investors Fair in Baku, Azerbaijan, October 7, 2009
Event Name: Azerbaijan Microfinance Association Investors Fair
Location: Baku, Azerbaijan
Date: October 7, 2009
Event Description: The conference will focus on MFI governance strategy, financial risk management, client protection, opportunities to learn about innovative products, and a chance to access capital investors [1].
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
Cost: AMFA Members: AZN 200 (USD 248)
non-AMFA Members: AZN 250 (USD 310)
International: USD 200
Summary of Event: The day will start with remarks from members of the Azerbaijan Microfinance Association, the Azerbaijani government, and business representatives. There will then be three panels on governance, risk, and client protection, respectively. Lastly, the Investors Fair will be a roundtable to discuss critical microfinance issues [2].
MICROCAPITAL STORY: International Finance Corporation (IFC) to Assist Four Microfinance Institutions (MFIs) in Central Asia to Accept Deposits
The International Finance Corporation (IFC), the private sector lending arm of the World Bank, is assisting four microfinance institutions (MFIs) in Central Asia to transform into banks or deposit-taking organizations [1], according to a press release issued by the IFC [1]. The IFC initiative, billed as the ‘Azerbaijan and Central Asia Microfinance Transformation Support Project’, is expected to help the four MFIs become more sustainable, expand their range of services and also help boost access in underserved communities in the region [1]. The MFIs benefiting from the Project are IMON International and Arvand in Tajikistan, Bai Tushum in Kyrgystan and Credagro in Azerbaijan. Aside of the implementation of microfinance best practices and transformation plans, IFC’s support also includes advisory services package in institution-building, developing a corporate strategy, and mentoring of senior management.
MICROCAPITAL STORY: Meet a MicroBank: An Interview with Managers of First Microfinance Bank (FMFB) of Afghanistan, Member of Aga Khan Development Network (AKDN)
The Aga Khan Development Network (AKDN) focuses on health, education, culture, rural development, institution-building and the promotion of economic development. It is dedicated to improving living conditions and opportunities for the poor. In Afghanistan, AKDN’s projects include large-scale rural development, health, education and civil society programs. Through one of its nine operating agencies, the Aga Khan Agency for Microfinance (AKAM) also provides microfinance services in the rehabilitation of historic neighborhoods in Kabul and Herat. A key product development priority for AKAM began in 2007 with the development of the Housing Product Initiatives program in Afghanistan, via the First MicroFinance Bank (FMFB) of Afghanistan with additional assistance from the International Finance Corporation (IFC), a member of the World Bank Group.
MICROCAPITAL PAPER WRAP-UP: Inclusive Finance: The State of Microfinance Sector in ECA (Europe and Central Asia), 2008 Edition
Written by Justyna Pytkowska, Anne-Sophie Houyet, and Aneta Mach for the Microfinance Centre for Central and Eastern Europe and the New Independent States, 105 pages, available at: http://www.mfc.org.pl/index.php?section=NET&page=Other
This report covers several aspects of finance in the Central and Eastern Europe (CEE) and New Independent States (NIS) region including access to and use of financial services, the potential for micro-insurance, the supply of microfinance services, and the social performance of NGOs and non-bank financial institutions.
MICROCAPITAL STORY: ACCION International’s CEO Maria Otero To Be United States Under Secretary of Democracy and Global Affairs
The White House has nominated the president and CEO of ACCION International, Ms. Maria Otero, to assume the position of Under Secretary of Democracy and Global Affairs in the US Department of State. Although the Senate Foreign Relations Committee has yet to approve the nomination, Ms. Otero has indicated that she will accept the position should her nomination be successful. Ms. Otero has been profiled in MicroCapital’s Who’s Who in Microfinance series in May 2007. Her position at ACCION International will be filled temporarily by Ms. Catherine Quense, Chief Administrative Officer and Chief Deputy, while a committee searches for Ms. Oteros successor. Ms. Diana Taylor, Vice Chair of the ACCION Board, comments, “Her nomination as Under Secretary comes as no surprise to those of us who know her and her deep commitment to social and economic justice, and we know that she now has an even more effective platform from which to help build better lives for the world’s citizens.” Ms. Otero was born and raised until the age of 12 in La Paz, Bolivia, whereupon she and her family moved to Washington DC. She holds a BA in Literature from the University of Maryland and an MA in International Relations from Johns Hopkins. She has been with ACCION since 1986 and became CEO in 2000. ACCION International is a microfinance organization founded in 1961 and consisting of 27 partner microfinance institutions (MFIs) in 20 countries. The position of Under Secretary of Democracy and Global Affairs was established under Section 161(b) of the Foreign Relations Authorization Act for Fiscal Years 1994 and 1995. In total, there are five Under Secretaries of State in the Department of State, headed by Secretary Hillary Rodham Clinton.
NEWS WIRE: Cambodia: Microfinance Bank ACLEDA Becomes Rich by Lending to Poor
Source: PRI
MICROFINANCE EVENT: The First San Diego Microfinance Summit May 7, 2009
The San Diego Microfinance Summit
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
Cost: $25 for general public and $10 for students; includes lunch
Summary of Event: The conference will highlight the local and international work of San Diego’s microfinance organizations. Lunch, catered by local microfinance clients, will follow the sessions. There will also be marketplace where microfinance clients will sell their wares and services, including artisans, musicians and bakers.
WHO’S WHO IN MICROFINANCE: Fazle Hasan Abed, Founder of BRAC (the Bangladesh Rural Advancement Committee)
Fazle Hasan Abed is the founder and chairperson of BRAC (formerly the Bangladesh Rural Advancement Committee), the Bangladesh based development organization dedicated to poverty alleviation and rural empowerment. BRAC was founded in February 1972 an almost entirely donor-funded, small-scale relief and rehabilitation project to aid post-Liberation War Bangladesh and has now expanded into a private development organization dedicated to poverty alleviation and empowerment of the poor, serving an estimated 100 million Bangladeshis with presence in all 64 districts of Bangladesh.