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Monday, July 8, 2013

MICROCAPITAL BRIEF: BRAC, LOLC Micro Investments Buy 90% of Shares of Sri Lanka’s Nanda Investments and Finance, Plan its Downscaling to Microfinance

BRAC, an NGO that was formally known as the Bangladesh Rehabilitation Assistance Committee and serves eleven countries as of 2013, has bought 56.6 percent of the shares of Nanda Investments and Finance Public Limited Company, a Sri Lankan finance company specializing in deposits, loans, leasing and installment-based purchases [1]. Continue Reading »

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Monday, March 25, 2013

MICROCAPITAL BRIEF: BRAC Applies Microcredit Strategies to Water, Sanitation, Hygiene (WASH) Programme in Bangladesh

BRAC, a development organization formerly known as the Bangladesh Rehabilitation Assistance Committee, has adapted two strategies traditionally used in its microcredit initiatives to promote the organization’s efforts to address issues involving clean water and sanitation in Bangladesh through its Water, Sanitation and Hygiene (WASH) programme.  Continue Reading »

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Monday, March 26, 2012

MICROCAPITAL BRIEF: Bangladesh-based BRAC to Expand Microfinance, Health, Education, Agricultural Projects in Tanzania

BRAC (formerly the Bangladesh Rehabilitation Assistance Committee), a Bangladeshi nonprofit development organization, reportedly has announced plans to expand “pro-poor development projects in health, education, microfinance, farming and livestock sector” in Tanzania within an unspecified timeframe. Continue Reading »

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Thursday, September 1, 2011

MICROCAPITAL BRIEF: BRAC Development Institute Releases “Bangladesh Microfinance Review,” Indicates Need for Product Diversity

The BRAC Development Institute (BDI) set up by the Bangladesh Rehabilitation Assistance Committee (BRAC), a Bangladesh-based development organization, recently released “Bangladesh Microfinance Review, August 2011” and concluded that “while the sector has achieved operational efficiency, it needs to diversify its products in order to serve unmet demand for credit.” Continue Reading »

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Tuesday, April 26, 2011

MICROCAPITAL BRIEF: Bangladeshi Microfinance Organization BRAC Admits to Pushing Loans to Over-Indebted Borrowers

BRAC (formerly Bangladesh Rehabilitation Assistance Committee), a Bangladeshi development organization that was established in 1972, reportedly admitted to pushing loans to borrowers that could not afford them. Continue Reading »

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Friday, April 15, 2011

MICROCAPITAL BRIEF: MasterCard Foundation of Canada Commits Additional $25m To BRAC’s “Microfinance Multiplied” Program in Uganda, With Plans to Open 40 New Branches

The MasterCard Foundation of Canada recently committed USD 25 million to BRAC, a microfinance institution (MFI) formerly known as the Bangladesh Rural Advancement Committee, in an effort to support the expansion of BRAC’s “microfinance multiplied” program in Uganda, which enables poor clients to use microloans to build income and assets while simultaneously encouraging social and community development. The commitment aims to enable BRAC to expand its network in Uganda by opening 40 new branches. The BRAC program provides credit, training and technical support to economically active women, with a focus on those engaged in agricultural poultry and livestock. The program also assists adolescent girls in furthering their vocational and life-skills training. Continue Reading »

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Tuesday, February 22, 2011

MICROFINANCE EVENT: “Investment and Innovation in Microfinance Europe 2011: Tackling Over-Indebtedness and Embracing Innovative Financial Products to Guarantee a Sustainable Industry” to be Held in London, United Kingdom, May 24-25, 2011

Event Name: Investment and Innovation in Microfinance Europe 2011: Tackling Over-Indebtedness and Embracing Innovative Financial Products to Guarantee a Sustainable Industry

Event Date: May 24 – May 25, 2011

Event Location: London, United Kingdom Continue Reading »

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Monday, October 4, 2010

MICROCAPITAL BRIEF: Microfinance Institution Bangladesh Rural Advancement Committee (BRAC) and the American Pakistan Foundation (APF) Partner to Provide Relief for Flood Victims in Pakistan

BRAC (formerly known as the Bangladesh Rural Advancement Committee), a microfinance institution based in Bangladesh, and the American Pakistan Foundation (APF), a US-based nonprofit, are partnering to help rebuild areas of Pakistan affected by the July 2010 floods through the use of the microlender’s infrastructure and personnel. Continue Reading »

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Thursday, January 14, 2010

MICROCAPITAL BRIEF: Fazle Hasan Abed, Founder and Chairperson of Microfinance Institution BRAC to be Knighted by Her Majesty Queen Elizabeth II

In recognition of his many years of work to assist poor people, Fazle Hasan Abed, the Founder and Chairperson of international microfinance institution BRAC (Bangladesh Rural Advancement Committee), is to be knighted by Her Majesty Queen Elizabeth II on an undisclosed date. Continue Reading »

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Thursday, October 8, 2009

NEWS WIRE: United Kingdom: Sovereign Wealth Funds Embrace Socially-responsible Investing

Source: Reuters. Continue Reading »

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Monday, July 27, 2009

MICROCAPITAL.ORG STORY: BRAC, Soros Economic Development Fund (SEDF), Open Society Initiative for West Africa (OSIWA), Omidyar Network and Humanity United Form $15m Microfinance Partnership in Sierra Leone and Liberia

For discussion of this topic click here:  http://microfinanceassociation.ning.com/forum/topics/deals-in-microfinance-the

The Bangladesh Rural Advancement Committee (BRAC), an international non-government organization (NGO), will lead a partnership worth USD 15 million in Sierra Leone and Liberia to provide microfinance, healthcare and agricultural support [1, 2]. The Soros Economic Development Fund (SEDF), Open Society Initiative for West Africa (OSIWA), Omidyar Network and Humanity United are funding this project through a combination of grants and equity [1, 3, 4, 5, 6]. BRAC has opened 20 new microfinance branches since March 2009 in Sierra Leone and Liberia, with the first loan being issued in June, and aims to open 20 more by the end of the year [1]. During the two year pilot program it aims to provide loans to tens of thousands of women in these two West Africa countries [1]. Furthermore the project will provide agricultural supplies, training to farmers and 400 community based health volunteers [1].   Continue Reading »

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Wednesday, June 10, 2009

NEWS WIRE: The Philippines: Microfinance Institutions Embrace Ratings

Source: BusinessWorld (The Philippines). Continue Reading »

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Monday, April 27, 2009

MICROCAPITAL STORY: BRAC provides Micro Health Insurance in Bangladesh. Lessons in Financial Viability. (Part II of IV)

This article on the Bangladesh Rural Advancement Committee’s (BRAC) Micro Health Insurance for Poor Rural Women in Bangladesh (MHIB) is the second in a series of MicroCapital case studies on Health Microinsurance (HMI) schemes in Bangladesh.  Please also refer to Part I on Grameen Kalyan; Part III on the Society for Social Services (SSS); and Part IV, a wrap-up of the CGAP research paper “Health Microinsurance: A Comparative Study of Three Examples in Bangladesh”.  The Grameen Kalyan article explained that public health services in Bangladesh are urban-based, elite-biased, and curative-oriented (p.vi), and that the World Health Organization (WHO) identified inadequate healthcare financing mechanisms to be one of the biggest obstacles to improving health outcomes of the poor.

Continue Reading »

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Wednesday, April 15, 2009

MICROCAPITAL STORY: Book Release: “Freedom From Want” by Ian Smillie Pays Homage to the Bangladesh Rural Advancement Committee (BRAC)

“Unlike the Grameen Bank, BRAC (Bangladesh Rural Advancement Committee) is not well known outside Bangladesh, but that will change, because BRAC is undoubtedly the largest and most variegated social experiment in the developing world,” writes Ian Smillie (p1), the author of recently published “Freedom From Want” (Kumarian Press, 2009). The 283-page book is a tribute to the gigantic Bangladeshi nongovernmental microfinance and development organization, which today operates in Afghanistan, Pakistan, Sri Lanka, Tanzania, Uganda, the Sudan, Sierra Leone, and Liberia. Upon a backdrop of the history of Bangladesh, “Freedom From Want” traces the growth of BRAC from its origins in 1972 as a small social relief project for victims of the 1970 cyclone and 1972 Liberation War. It provides a biography of BRAC Founder and Chairperson, Fazle Hasan Abed. And, it documents the launch of BRAC’s various development initiatives and its expansion into Asia and Africa as it grew to become the multinational, multifaceted development institution that it is today. Continue Reading »

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Monday, April 13, 2009

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. Continue Reading »

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Thursday, January 8, 2009

MICROCAPITAL STORY: BRAC of Bangladesh Launches $62m East Africa Microfinance Fund

Bangladesh Rural Advancement Committee (BRAC), an International Development Organization founded in Bangladesh announced the launch of the BRAC Africa Loan Fund to provide microfinance loans to poor borrowers in Tanzania, Uganda and Southern Sudan. In a press release found on PRNewswire, BRAC announced that it has raised USD 62.6 million of capital towards the loan fund. The release stated that the Africa Loan Fund would provide long-term, local currency funding that would enable BRAC to scale up its microfinance operations to reach over 700,000 borrowers through over 200 branches across the three East African countries. Continue Reading »

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Wednesday, November 26, 2008

MICROCAPITAL STORY: Bangladesh Rural Advancement Committee (BRAC) and MasterCard Foundation Establish $19.6m Microfinance Program in Uganda

On November 18, the MasterCard Foundation, a private foundation in Toronto, Canada, and the Bangladesh Rural Advancement Committee (BRAC), a Bangladeshi microfinance institution (MFI), targeted two million Ugandans with a USD 19.6 microfinance program.  The need for deeper, more mature microfinance markets in Uganda is strong, implies a recent Business Wire story.  The government made expanding financial services for the rural poor a “top priority” in a country where more than 37 percent of the population live on less than a dollar a day and 62 percent do not have access to financial services. Continue Reading »

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Tuesday, November 25, 2008

MICROCAPITAL STORY: Citibank Grants US$ 23.8 Thousand to Brac Tanzania

Citibank issued a 30 million/- (USD 23.8 thousand) grant to BRAC Tanzania in support of microfinance activities in the Vingunguti area of Tanzania, according to a report in Tanzania’s Daily News Online. This will be the second time in two years that Citibank has provided funds to BRAC Tanzania, the first time was in 2007 and the amount was 24 million/- (USD 19 thousand). The article reported that the CEO for Citibank Africa, Zdenek Turec and CEO of Citibank East Africa, Ade Ayeyemi presented the grant to BRAC Tanzania after visiting the Vingunuti area. The article in the Daily News did not provide further details, and there were no reports from either BRAC or Citibank on the grant. Continue Reading »

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