NEW YORK, May 15 /PRNewswire-USNewswire/ — PlaNet Finance, an international non-profit organization dedicated to alleviating poverty throughout the world through the development of microfinance, announced today the opening of its first U.S. office, in New York City.
Since its founding nine years ago in Paris, PlaNet Finance has grown to work in 60 countries including Madagascar, Mexico, Argentina, Israel, Mexico, Brazil, Senegal and China.“The new office at 195 Broadway will further expand the frontiers of microfinance by contributing to the development of microfinance in emerging countries,” said Arnaud Ventura, co-founder, Vice President of PlaNet Finance, and the President of PlaNet Finance USA. “Based a few blocks away from Wall Street, PlaNet Finance hopes to benefit from the expertise of the New York financial community to help strengthen microfinance worldwide.”
The U.S. office will focus on increasing the capacity of microfinance programs particularly in Africa, the Middle East, Latin America and Asia, and developing innovative new financial tools and instruments for microfinance.
Microfinance, which provides business training and small loans to help impoverished people develop sustainable businesses to improve their lives, is recognized as a vital tool in the effort to end world poverty. According to a recent World Bank Survey, over three billion people do not have access to formal financial services and of these, two billion live below the poverty line of $2 per day.
Her Majesty Queen Rania Al-Abdullah of Jordan, who is a key advocate of microfinance and supporter of PlaNet Finance’s proven global programs, said that “people living in poverty need access to a diverse range of financial services to access opportunities allowing them to get out of poverty.”
PlaNet Finance assists microfinance institutions that offer small entrepreneurs financial services such as microcredits, savings and insurance services, helping them to develop their business and to break the bonds of poverty. Since the creation of PlaNet Finance in 1998, microfinance has proven its efficiency by growing from a sector reaching ten million people to more than 100 million today. In 2006, PlaNet Finance’s programs benefited an estimated seven million people.
“PlaNet Finance’s aim is to expand access to financial services for the hard-working poor, by providing comprehensive services to microfinance institutions and supporting the development of microfinance,” Ventura added. “Our goal at PlaNet Finance is to help grow the number of microfinance beneficiaries from 100 million to more than 500 million in the next five years.”
One of many PlaNet Finance microfinance success stories is Ms. Aisha Youssef Mater, a mother of 12 children living in the impoverished Baqaa refugee camp in Amman, Jordan.
Ms. Mater began her microenterprise grain milling business eight years ago after illness left her husband unable to work. She received a small loan from the National Microfinance Bank of Jordan, one of the microfinance lending institutions supported by PlaNet Finance.
“The loans I have received have allowed me to expand my businesses and I have increased my earnings,” said Ms. Mater. “I hope I will continue to be able to take out loans.” The earnings from the mill have enabled Ms. Mater to finance the marriages of her adult children, support the cost of those seeking advanced degrees, and give back by providing a service to her community.
PlaNet Finance USA is part of the fast-growing network of over 35 affiliated offices operating in more than 60 countries in Asia, Africa, the Americas and Europe. The North American presence also reinforces that poverty alleviation is a global issue and building awareness is key to sustainable growth and improvement.
About PlaNet Finance
PlaNet Finance USA is a tax-exempt, non-profit organization under section 501C3 of the Internal Revenue Code based in New York and member of PlaNet Finance international network. PlaNet Finance is an international non-profit dedicated to reducing world poverty through the development of microfinance.
With operations in over 60 countries PlaNet Finance has a network of more than 35 affiliates in Europe (United Kingdom, Italy, Germany, Spain, Belgium, Portugal, Switzerland, France), North America (U.S.A. and Canada), Latin America (Mexico, Brazil, Argentina), Asia (India, Nepal, China, Japan), Africa (Senegal, Benin, Madagascar and South Africa) and the Arab world (Morocco, Egypt, United Arab Emirates, Israel, Palestinian Territories, Jordan, Lebanon).
PlaNet Finance USA
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Source: EARTHtimes.org
http://www.earthtimes.org/articles/show/news_press_release,106424.shtmlb
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