MicroCapital » Key Players

MICROCAPITAL BRIEF: Dutch Microfinance Organization Qredits Receives $38.6 m in Loans From BNG, Rabobank, ING and ABN-AMRO

Trevor Kwong — Thu, 09 Sep 2010 17:23:05 +0000

The Dutch microfinance organization Qredits, a foundation which provides financing to microentrepreneurs in the Netherlands and is operated as a partnership of the Dutch government and several banks, received EUR 30 million (the equivalent of USD 38.6 million) in loans from four Dutch banks, the Bank for Dutch Councils (BNG), Rabobank, ING and ABN-AMRO. Half of the loan is from BNG while the three other banks are providing the remaining half, with breakdown among them unspecified.

The Dutch government guarantees 80 percent of the loan by BNG.

Qredits currently does not report data to the Microfinance Information Exchange (MIX), the microfinance clearinghouse.

About Qredits:
Qredits is a private foundation operated by the Dutch Ministry of Social Affairs & Employment, the Dutch Ministry of Economic Affairs, ABN-AMRO, ING Netherlands and Rabobank. Founded in 2009, it provides financing to microentrepreneur in the Netherlands.

By Trevor Kwong, Research Assistant

Sources and Additional Resources:
[1] Radio Netherlands Worldwide: Dutch Bank to Provide ? 30 million for Microfinance in Netherlands:
http://www.rnw.nl/english/article/dutch-banks-provide-30-million-euros-microcredits

[2] MicroCapital Universe: Qredits:
http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=qredits

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/tiki-index.php

MICROCAPITAL BRIEF: World Bank and ARB Apex Bank of Ghana Release Report on Rural and Community Banks, Categorize Fifteen for Liquidation

Lindsey Shaughnessy — Thu, 09 Sep 2010 15:14:16 +0000

The World Bank, an anti-poverty international financial institution, and ARB Apex Bank, a public Ghanaian bank that promotes and is held by rural and community banks (RCBs), recently released a survey report, “Rural Banking: The Case of Rural and Community Banks in Ghana”, which identified fifteen of 136 Ghanaian RCBs for possible liquidation. The 15 RCBs in question were not deemed “practical and satisfactory” by the Bank of Ghana, which has regulatory and supervisory authority over Ghanaian financial institutions, including RCBs. The director of the Bank of Ghana’s Banking Supervision Department, Mr Okoh Sai, called on all RCBs to “establish strong management systems, adopt innovative business portfolios and penetrate into the rural communities in order to face the competition posed by the universal banks’ infiltration into their catchment zones” [1].

The CEO of the Ghana Microfinance Institutions Network (GHAMFIN), Dr David Andah, argued that mainstream banks are moving into RCBs’ market now that Ghanaian RCBs have created an enabling financial environment in rural areas and that RCBs cannot compete with the mainstream banks’ offerings. Dr Andah also called on the Ghanaian government to reconsider restrictions placed on RCBs, such as requiring new RCBs to raise at least GHS 150,000 (the equivalent of USD 105,000) in capital [1].

You may view the World Bank’s report at the following URL: http://siteresources.worldbank.org/INTARD/Resources/GhanaRCBs_web.pdf.

Ghana is one of eleven countries targeted by a recent USD 50 million investment by Barclays to improve access to microfinance [2].

By Lindsey Shaughnessy, Research Associate

About ARB Apex Bank: ARB Apex Bank Limited, founded in 2000, is a public, limited-liability company that operates twelve branches in Ghana. ARB Apex Bank, whose shareholders are rural and community banks (RCBs), supervises and funds RCBs and aims to provide RCBs with new technology, banking products and staff training. As of 2006, ARB Apex Bank reported total assets of GHS 51.4 million (the equivalent of USD 36 million).

About Bank of Ghana: The Bank of Ghana has regulatory and supervisory authority in Ghana over virtually every type of banking and financial institution, including rural and community banks, savings and loan companies and credit unions/cooperatives. The Bank of Ghana conducts annual on-site audits of these institutions. Nonprofit organizations in Ghana are not regulated by any government agency.

About Barclays: Barclays is a London-based financial services provider that operates in more than 50 countries. Barclays offers wealth management, investment banking, personal banking and corporate banking services. As of year-end 2009, Barclays reported total assets of GBP 1.38 trillion (USD 2.1 trillion).

About the Ghana Microfinance Institutions Network (GHAMFIN): The Ghana Microfinance Institutions Network (GHAMFIN) is an informal association of microfinance institutions (MFIs) in Ghana. GHAMFIN provides training, industry monitoring and microfinance product services to approximately 240 member institutions in all regions of Ghana.

About the World Bank: The World Bank Group consists of five closely associated institutions, all owned by member countries that carry ultimate decision-making power. Each institution plays a distinct role in the Group’s mission to fight poverty and improve living standards for people in the developing world. The World Bank Group encompasses the World Bank, which consists of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). The World Bank, established in 1944, has approximately 10,000 employees in 100 global offices, and is charged with reducing poverty in developing countries through leveraged loans.

Sources and Additional Resources:

[1] Microfinance Africa, “Fifteen Ghanaian rural banks marked for liquidation”, September 4, 2010. http://microfinanceafrica.net/news/fifteen-ghanian-rural-banks-marked-for-liquidation/

[2] MICROCAPITAL BRIEF: “Barclays Commits $50m to African Microfinance Groups Including Village Savings and Loans Associations”, August 27, 2010. http://www.microcapital.org/microcapital-brief-barclays-commits-50m-to-african-microfinance-groups-including-village-savings-and-loans-associations/

MicroCapital’s Microfinance Universe profile: ARB Apex Bank

MicroCapital’s Microfinance Universe profile: Bank of Ghana

MicroCapital’s Microfinance Universe profile: Barclays

MicroCapital’s Microfinance Universe profile: Ghana Microfinance Institutions Network (GHAMFIN)

MicroCapital’s Microfinance Universe profile: World Bank Group

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MICROCAPITAL BRIEF: Muhammad Yunus, Nobel Laureate and Founder of Microfinance Institution Grameen Bank, Promotes Social Business Fund Concept for Haiti

Jennifer Shevock — Wed, 08 Sep 2010 05:30:56 +0000

Mr Muhammad Yunus, Nobel Laureate recipient and founder of Grameen Bank, a Bangladeshi microfinance institution which popularized the concept of community lending, promoted a “social business funding” concept to address social problems in Haiti at a recent speaking engagement in Miami, Florida, USA.

The social business fund concept promotes the financing of social businesses which support transportation, housing, energy, health, nutrition and education. A social business fund’s profits are then continually re-invested into the social business. Such a business model concept could assist with Haiti’s post-earthquake recovery, Mr Yunus notes.

States Mr Yunus, “In charity, a dollar only has one life. You use it and it’s done…as a social business, a dollar has an endless life, because it is recycled…This concept is more of a sustainable and enlightened philanthropy. We need to find more creative ways to make use of our philanthropic dollars. Let’s spur entrepreneurship to create jobs and solve social problems.”

By Jennifer Shevock, Research Associate

About Muhammad Yunus:
Mr Muhammad Yunus is a Bangladeshi banker, economist and Nobel Peace Prize recipient. Mr Yunus was previously a professor of economics where he developed the concepts of microcredit and microfinance. Mr Yunus is also the founder of Grameen Bank, a Bangladeshi microfinance institution. In 2006, Mr Yunus and the bank were jointly awarded the Nobel Peace Prize. Mr Yunus himself has also received several other national and international honors and is a member of several organizations’ boards.

About Grameen Bank:
Grameen Bank is a Bangladeshi microfinance institution that provides collateral-free loans to poor entrepreneurs in rural areas. It was founded in the late 1970’s by Muhammad Yunus, who, along with Grameen Bank, won the 2006 Nobel Peace Prize for their work in developing the concept of microfinance. As of February 2010, it reports 8 million borrowers, 97 percent of whom are women. With 2,563 branches, Grameen Bank provides services to 81,343 villages. Grameen Bank has the equivalent of USD 1.2 billion in assets.

Sources and Additional Resources:
“Social business fund’ proposed for Haiti” August 31, 2010. http://www.miamiherald.com/2010/08/31/1799747/social-business-fund-proposed.html

MICROCAPITAL NEWS WIRE: France: “Father of Microcredit” Laments Unreformed Banking Sector” October 22, 2009. http://www.microcapital.org/news-wire-france-father-of-microcredit-laments-unreformed-banking-sector/#more-3888

MICROFINANCE PAPER WRAP-UP: “Building Social Business Models: Lesson from the Grameen Experience” by Muhammad Yunus, Bertrand Moingeon, and Laurence Lehmann-Ortega” October 15, 2009. http://www.microcapital.org/microfinance-paper-wrap-up-%e2%80%9cbuilding-social-business-models-lesson-from-the-grameen-experience%e2%80%9d-by-muhammad-yunus-bertrand-moingeon-and-laurence-lehmann-ortega/#more-3828

MicroCapital Universe: Muhammad Yunus: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Muhammad+Yunus

MicroCapital Universe: Grameen Bank: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Bank

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MICROCAPITAL BRIEF: Indonesian Banks Falling Short of Microfinance Lending Targets

Trevor Kwong — Tue, 07 Sep 2010 22:19:45 +0000

Indonesia’s major banks are having trouble meeting their microfinance lending targets set by the government due to concerns about borrowers’ ability to repay their microloans.

As of July 2010, only IDR 6.5 trillion of the IDR 20 trillion target has been loaned out by banks. Tatang Tabroni, Vice President of Bank Mandiri admits that most of the disbursed loans focused on entrepreneurs who already have a business instead of those who want to start a business. Ms Aviliani, an economist at the Institute for the Development of Economics and Finance (INDEF), a policy research institution based in Jakarta, urges the government to help develop applicants’ business strategies to improve their ability to repay loans.

[1] About the Institute for the Development of Economics and Finance (INDEF):
The Institute for Development of Economics and Finance (INDEF) is an independent and autonomous research and policy studies institution established on August 1995 in Jakarta. Its main activities are to undertake research and policy studies on a wide range OF economic and finance issues and to generate policy debates and public participation.

By Trevor Kwong, Research Assistant

Sources and Additional Resources:
[2] Source Article: The Jakarta Post: Banks facing difficulties disbursing microcredit:
http://www.thejakartapost.com/news/2010/09/06/banks-facing-difficulties-disbursing-micro-credit.html

[3] Institute for Development of Economics and Finance (INDEF):
http://www.indef.or.id/

Browse the MicroCapital Universe and add your entry to the wiki at:
http://www.microcapital.org/microfinanceuniverse/tiki-index.php

MICROCAPITAL BRIEF: South Pacific Business Development Foundation of Samoa to Open Microfinance Institution in Fiji

Lindsey Shaughnessy — Tue, 07 Sep 2010 18:08:44 +0000

The South Pacific Business Development Foundation (SPBD), a Samoan nonprofit microfinance institution, plans to open a microfinance institution in Fiji on September 15, 2010. SPBD hopes to reach 20,000 Fijian clients “in the next few years” [1].

SPBD was founded in 2000 in Samoa, and since then has distributed approximately USD 13 million in loans to 12,000 Samoan households. SPBD also opened a microfinance firm in Tonga in August 2009, and through it distributed approximately TOP 700,00 (the equivalent of USD 357,000) to 700 Tongan entrepreneurs in its first few months of existence [2].

In July 2010, the Reserve Bank of Fiji required all commercial banks to establish “microfinance units” in order to expand access to microfinance, as well as to encourage foreign investment in the country’s financial sector [3].

By Lindsey Shaughnessy, Research Associate

About the South Pacific Business Development Foundation: The South Pacific Business Development Foundation (SPBD), a Samoan nonprofit microfinance institution, provides small, unsecured loans to rural women in the South Pacific. SPBD also provides housing and education microcredit. SPBD provided its first microenterprise loan in 2000, and as of 2008 has distributed approximately USD 13 million in loans to 12,000 Samoan households.

About the Reserve Bank of Fiji: Established in 1983, the Reserve Bank of Fiji (RBF) is the nation’s central banking authority. RBF’s statutory authority includes the following: to regulate the financial sector, to promote monetary stability and to foster balanced macroeconomic development of the country as a whole. As of May 2010 it had total assets of USD 1.26 billion. There is no information available on the number of banks that RBF oversees.

Sources and Additional Resources:

[1] Radio Australia News, “Microfinance firm to open in Fiji”, September 6, 2010. http://www.radioaustralianews.net.au/stories/201009/3003997.htm?desktop

[2] Microfinance Pasifkia, “SPBD-Microfinance Ltd (Toga) Launched”, September 7, 2010. http://www.microfinance-pasifika.org/spbd-microfinance-ltd-tonga-launched.html

[3] MICROCAPITAL BRIEF: “All Commercial Banks in Fiji Establish ‘Microfinance Units’”, July 29, 2010. http://www.microcapital.org/microcapital-brief-all-commercial-banks-in-fiji-establish-%E2%80%9Cmicrofinance-units%E2%80%9D/

MicroCapital’s Microfinance Universe profile: Reserve Bank of Fiji

MicroCapital’s Microfinance Universe profile: South Pacific Business Development Foundation

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MICROCAPITAL BRIEF: CGAP Announces Appointment of New Chief Executive Officer Tilman Ehrbeck

Jennifer Shevock — Fri, 03 Sep 2010 18:40:25 +0000

CGAP (Consultative Group to Assist the Poor), an independent policy and research center housed at the World Bank Group, recently announced the appointment of Mr Tilman Ehrbeck as Chief Executive Officer (CEO). Mr Ehrbeck is currently a partner at the global management consulting firm of McKinsey & Company, and succeeds Ms Elizabeth Littlefield, former CGAP CEO. Ms Littlefield was appointed by President Barack Obama to head the Overseas Private Investment Corporation (OPIC), a US government development organization, as reported by MicroCapital on June 28, 2010.

Mr Ehrbeck has 20 years of experience in banking, management and the public sector and has held various leadership positions while a partner at McKinsey & Company. During the past ten years, Mr Ehrbeck has advised microfinance networks, private foundations, governments and commercial entities on strategies to improve financial access.

Mr Ehrbeck holds a bachelor’s degree from the University of Hamburg and a PhD in economics from the European University Institute, a post-graduate school and research institute sponsored by the European Union.

By Jennifer Shevock, Research Associate

About CGAP (Consultative Group to Assist the Poor):
Housed at the World Bank Group, CGAP is an independent policy and research center dedicated to providing financial access for the world’s poor. CGAP is supported by over thirty development agencies and private foundations. Its mission is to provide market intelligence, to promote standards and to offer advisory services to governments, microfinance providers, donors and investors.

Source and Additional Resources:
“Tilman Ehrbeck Named as New CEO of CGAP” August 31, 2010. http://microfinanceafrica.net/news/tilman-ehrbeck-named-as-new-ceo-of-cgap/

MICROCAPITAL BRIEF: “CGAP Launches Financial Inclusion Regulation Center to House Information on National Regulatory Environments” August 20, 2010. http://www.microcapital.org/microcapital-brief-cgap-launches-financial-inclusion-regulation-center-to-house-information-on-national-regulatory-environments/#more-6577

MICROCAPITAL BRIEF: “CGAP Responds to Criticisms From Dr Sanjay Sinha, Managing Director at Micro-Credit Ratings International (M-CRIL) of India” August 13, 2010. http://www.microcapital.org/microcapital-brief-cgap-responds-to-criticisms-from-dr-sanjay-sinha-managing-director-at-micro-credit-ratings-international-m-cril-of-india/#more-6409

MICROCAPITAL BRIEF: “Mr Vijay Mahajan, President of Microfinance Institutions Network (MFIN) and Chairman of CGAP (Consultative Group to Assist the Poor), Argues Banks Should Charge Microfinance Institutions Less than 10%” July 15, 2010.
http://www.microcapital.org/microcapital-brief-mr-vijay-mahajan-president-of-microfinance-institutions-network-mfin-and-chairman-of-cgap-consultative-group-to-assist-the-poor-argues-banks-should-charge-microfinance-instit/

MICROCAPITAL BRIEF: “Elizabeth Littlefield, Former CEO of CGAP (Consultative Group to Assist the Poor), Confirmed As President and CEO of Overseas Private Investment Corporation (OPIC)” June 28, 2010. http://www.microcapital.org/microcapital-brief-elizabeth-littlefield-former-ceo-of-cgap-consultative-group-to-assist-the-poor-confirmed-as-president-and-ceo-of-overseas-private-investment-corporation-opic/

MicroCapital Universe: CGAP (Consultative Group to Assist the Poor): http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CGAP+(Consultative+Group+to+Assist+the+Poor)

MicroCapital Universe: World Bank Group: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=The+World+Bank+Group

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MICROCAPITAL BRIEF: International Finance Corporation and Daiwa Securities Group Inc Announce Plan to Issue Bond, Expect to Raise $323m to Support Microfinance in Emerging Markets

Lindsey Shaughnessy — Fri, 03 Sep 2010 18:01:49 +0000

The International Finance Corporation (IFC), a World Bank group, and Daiwa Securities Group Inc, a Tokyo-based financial services group holding company, recently announced the details of a bond expected to be issued later this month and to raise USD 323 million. The bond is intended to “expand access to finance for poor- and low-income entrepreneurs in developing countries” [1]. The bond will be issued through IFC’s Global Medium-Term Note Program; arranged by Daiwa Securities Capital Markets Company Limited, a securities firm that operates under the holding group Daiwa Securities Group Inc; and distributed by Daiwa Securities Company Limited, also a firm that operates under Daiwa Securities Group Inc, to “Japanese retail and institutional investors” [1].

This is IFC’s second microfinance bond. In October 2009, FC announced its first plan to raise USD 300 million for microfinance services by issuing bonds to Japanese retail investors [2]. The bond it subsequently issued in November 2009 raised approximately JPY 25 billion (the equivalent of USD 296 million) [1]. In June 2010, Daiwa Securities Group Inc announced its intention to issue bonds to Japanese investors to support the European Bank for Reconstruction and Development (EBRD), a London-based international development finance institution that focuses on Eastern Europe and Central Asia [3].

By Lindsey Shaughnessy, Research Associate

About Daiwa Securities Group Inc: Daiwa Securities Group Inc, founded in 1999, is the Tokyo-based holding company of group financial services companies that operate in Asia, Europe, Oceania and the United States. As of June 31, 2010, Daiwa Securities Capital Markets Company Limited reported total assets of JPY 14.7 billion (the equivalent of USD 173 million).

About the International Finance Corporation (IFC): A member of the World Bank Group, the International Finance Corporation (IFC) offers loan and debt securities, equity investments, advisory services and technical assistance to alleviate poverty and promote open and competitive markets in developing countries. The IFC has 182 member countries that “collectively determine its policies, and approve investments.” In fiscal year 2009, IFC’s new investments totaled USD 14.5 billion.

Sources and Additional Resources:

[1] International Finance Corporation, “IFC, Daiwa Announce Second Bond to Support Microfinance in Emerging Markets”, September 1, 2010. http://www.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/98A1607893F00883852577910072CD37?OpenDocument

[2] MICROCAPITAL STORY: “IFC to Raise $300m in Bond Issue in Japan Market for Microfinance Programs”, October 28, 2009. http://www.microcapital.org/microcapitalorg-story-ifc-to-raise-300m-in-bond-issue-in-japan-market-for-microfinance-programs/

[3] MICROCAPITAL BRIEF: “Daiwa Securities Group to Issue Bonds in Japanese Market to Support Operations of European Bank for Reconstruction and Development”, June 8, 2010. http://www.microcapital.org/microcapital-brief-daiwa-securities-group-to-issue-bonds-in-japanese-market-to-support-operations-of-european-bank-for-reconstruction-and-development-ebrd/

MicroCapital’s Microfinance Universe profile: Daiwa Securities Group Inc

MicroCapital’s Microfinance Universe profile: International Finance Corporation (IFC)

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/.

MICROCAPITAL BRIEF: Barclays, CARE International and Plan International Launch $1m Banking on Change Microfinance Initiative in India

Jennifer Shevock — Fri, 03 Sep 2010 06:25:46 +0000

Barclays, a London-based international financial services provider, recently announced it will be expanding its Banking on Change program in India and will invest INR 55 million (USD 1.2 million) in microfinance initiatives. Barclays launched the Banking on Change initiative in 2008 in partnership with international development organizations CARE International and Plan International. The initiative is a three-year global investment program intended to expand access to banking services to 500,000 people in 11 countries in Asia, Africa and South America. Information regarding each organization’s specific role in the program is not available.

The Banking on Change Initiative partnership is intended to develop savings and loans groups managed by local communities themselves, enabling individuals to save regularly and access small loans from groups’ combined savings [1].

By Jennifer Shevock, Research Associate

About Barclays:
Barclays is a London-based international financial services provider that operates in more than 50 countries. Barclays offers wealth management, investment banking, personal banking and corporate banking services. As of fiscal year 2009, Barclays reported total assets of USD 2.1 trillion.

About CARE International:
CARE International (CARE) is a Switzerland-based, global non-governmental organization with poverty reduction programs aimed at developing women’s economic capabilities. Founded in 1945 and originally established as a means to send supplies to post-war Europe from America, it has evolved into a large-scale humanitarian organization. As of June 30, 2009, CARE supported approximately 800 projects in 72 countries to reach 59 million people and reported total assets of USD 952 million.

About Plan International:
Plan International is a UK-based children’s development organization founded in 1940. It works in 48 developing countries across Africa, Asia and the Americas with the goal of promoting child rights and lifting children out of poverty. From mid-year 2008 to mid-year 2009, Plan International’s expenditure on programs was USD 466 million.

Sources and Additional Resources:
[1] Banking on Change Program: http://group.barclays.com/Sustainability/Community-investment/Banking-on-Brighter-Futures/Banking-on-Change
“Barclays launches Microfinance Initiative in India” August 26, 2010. http://indiamicrofinance.com/barclays-care.html

MICROCAPITAL BRIEF: “Barclays Commits $50m to African Microfinance Groups Including Village Savings and Loans Associations” August 27, 2010. http://www.microcapital.org/microcapital-brief-barclays-commits-50m-to-african-microfinance-groups-including-village-savings-and-loans-associations/

MICROCAPITAL BRIEF: “Barclays Launches ‘Banking for Billions’ Report on Improving Access to Financial Services and Expanding Microfinance” June 22, 2010. http://www.microcapital.org/microcapital-brief-barclays-launches-banking-for-billions-report-on-improving-access-to-financial-services-and-expanding-microfinance/

MICROCAPITAL BRIEF: “Barclays Bank and Development Organizations CARE International and Plan International Launch Microfinance Project in Ghana as Part of Larger Multi-Country Initiative” June 3, 2010. http://www.microcapital.org/microcapital-brief-barclays-bank-and-development-organizations-care-international-and-plan-international-launch-microfinance-project-in-ghana-as-part-of-larger-multi-country-initiative/

MicroCapital Universe: Barclays: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Barclays

MicroCapital Universe: Care International: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CARE+International

MicroCapital Universe: Plan International: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Plan+International

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MICROCAPITAL BRIEF: Grameen Foundation Issues Standards for Progress out of Poverty Index Prior to Commencement of Certification Program

Jennifer Shevock — Thu, 02 Sep 2010 05:30:58 +0000

Grameen Foundation, a US-based nonprofit, recently announced the issuance of standards of use for its Progress out of Poverty Index (PPI), a tool developed by Grameen for tracking and reporting poverty data as reported by MicroCapital on February 26, 2009. The standards are intended to ensure that PPI users are using the tool correctly, and serve as a pre-cursor to a formal PPI certification program that Grameen is planning to implement. The certification program will attest to the accuracy of PPI data provided by microfinance institutions and used by donors, investors and rating agencies.

One of the certification program supporters is the Microfinance Information Exchange (MIX), a source for published financial and social performance data on microfinance institutions. “Poverty measurement is one of the standard social performance indicators that [the] MIX collects and analyzes,” says Mr Micol Pistelli, Manager of the MIX Social Performance Program. “Establishing a set of easily verifiable standards for PPI implementation would significantly enhance the quality of PPI data reported to MIX and improve poverty analysis overall” [1].

The PPI standards cover the poverty data collection process, data analysis and reporting. The PPIs are intended to allow microfinance institutions to better determine their clients’ needs, and assess which microfinance programs are most effective, how quickly clients leave poverty and what helps people move out of poverty faster.

Jennifer Shevock, Research Associate

About Grameen Foundation:
The Grameen Foundation, a nonprofit based in Washington, D.C., aims to help microfinance institutions throughout the world replicate the microfinance model of the Grameen Bank http://www.grameen-info.org/ . It provides financial, technological and managerial support for local organizations and intends to provide new business opportunities and telecommunication services to the rural poor. Though the Grameen Foundation is independent of the Grameen Bank, Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors. Grameen Foundation reported total assets of USD 25 million as of March 31, 2009.

Sources and Additional Resources:
[1] “Grameen Foundation Develops Standards to Strengthen Use of the Progress out of Poverty Index™ (PPI™)” http://www.grameenfoundation.org/press-releases/grameen-foundation-develops-standards-strengthen-use-progress-out-poverty-index%E2%84%A2-ppi%E2%84%A2

“Grameen Foundation Wins $200,000 in Funding from American Express” http://www.grameenfoundation.org/press-releases/grameen-foundation-wins-200000-funding-american-express

MICROCAPITAL BRIEF: “Grameen Foundation Announces Official Launch of Mifos.com to Promote Microfinance Institution Management Software” August 20, 2010. http://www.microcapital.org/microcapital-brief-grameen-foundation-announces-official-launch-of-mifos-com-to-promote-microfinance-institution-management-software/

MICROCAPITAL BRIEF: “Bankers Without Borders (BwB) Receives $150,000 in Seed Capital for Alliance Program from JP Morgan’s Social Finance Unit” August 17, 2010. http://www.microcapital.org/microcapital-brief-bankers-without-borders-bwb-receives-150000-in-seed-capital-for-alliance-program-from-jp-morgan%E2%80%99s-social-finance-unit/

MICROCAPITAL BRIEF: “Grameen Foundation Receives $125,000 from Citi Foundation to Help Improve Human Capital Management Practices at Microfinance Institutions (MFIs)” August 9, 2010. http://www.microcapital.org/microcapital-brief-grameen-foundation-receives-125000-from-citi-foundation-to-help-improve-human-capital-management-practices-at-microfinance-institutions-mfis/

MICROCAPITAL BRIEF: “Grameen Foundation Releases Paper, “Measuring the Impact of Microfinance: Taking Another Look” by Professor Kathleen Odell” July 6, 2010. http://www.microcapital.org/microcapital-brief-grameen-foundation-releases-paper-%E2%80%9Cmeasuring-the-impact-of-microfinance-taking-another-look%E2%80%9D-by-professor-kathleen-odell/

MICROCAPITAL STORY: “Grameen Foundation and Oikocredit Offer Progress out of Poverty Index as Cornerstone of Socially Motivated Microfinance Investment Guidelines” February 26, 2009. http://www.microcapital.org/microcapital-story-grameen-foundation-and-oikocredit-offer-progress-out-of-poverty-index-as-cornerstone-of-socially-motivated-microfinance-investment-guidelines/

Progress out of Poverty Index: http://progressoutofpoverty.org/understanding-the-progress-out-poverty-index

Microfinance Information Exchange: http://www.mixmarket.org

MicroCapital Universe: Grameen Foundation: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: Grameen Foundation Wins $200,000 Funding from the Members Project of American Express and TakePart

Jennifer Shevock — Thu, 02 Sep 2010 05:30:07 +0000

Grameen Foundation, a US-based nonprofit, recently announced it is a winner and recipient of a $200,000 funding award from the Members Project by American Express, a global consumer services company, and TakePart, a social action network of people. Members of the public voted weekly from the commencement of the contest period for the charity of their choice, of which Grameen Foundation led the voting for the contest’s “Community Development” category.

The Grameen Foundation will use the funding to continue supporting microfinance institutions and promoting access to farming and health information to people in poor communities through mobile phones. The Grameen Foundation reported total assets of USD 25 million as of March 31, 2009.

Jennifer Shevock, Research Associate

Sources and Additional Resources:
“Grameen Foundation Wins $200,000 in Funding from American Express” http://www.grameenfoundation.org/press-releases/grameen-foundation-wins-200000-funding-american-express

MicroCapital Universe: Grameen Foundation: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation

American Express and TakePart Members Project: http://www.takepart.com/membersproject

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/