The Foundation for International Community Assistance (FINCA), a US-based microfinance network, recently announced that it will start operations in Pakistan. According to FINCA International President and CEO Rupert Scofield, “by offering financial services to hundreds of thousands of Pakistanis in the coming years…we can help create an environment that is more conducive to peace in Pakistan, the region and the world.” Further details, such as the types of services to be offered, have not been released. [1]
FINCA International has total assets of USD 719 million as of December 2011 and has nearly 1 million clients through its subsidiaries in 22 countries as of June 2013.
By Michael Averell, Research Associate
About FINCA International
Founded in 1984 by Dr John Hatch, who is known for helping develop village banking in which each member of the village bank ensures the loan of other members, the Foundation for International Community Assistance (FINCA) International is a microfinance network based in Washington, DC, that provides financial services to poor families through a network of locally managed institutions. FINCA targets its services to poor women living in the Americas, sub-Saharan Africa and Eurasia. FINCA International has total assets of USD 719 million as of December 2011 and has approximately 1 million clients through its subsidiaries in 22 countries as of June 2012. In December 2011, FINCA launched a subsidiary, FINCA Microfinance Holding LLC, that extended its outreach and services around the world with funding from the International Finance Corporation (IFC), KfW Bankengruppe, Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), responsAbility Social Investments, and Triple Jump.
Sources and Additional Resources
[1] Foundation for International Community Assistance (FINCA International): “FINCA Extends Its Life Changing Services To Pakistan,” http://www.finca.org/site/apps/nlnet/content2.aspx?c=6fIGIXMFJnJ0H&b=6088715&ct=13188131#.UdMgAE7D_IX
MicroCapital story, July 1, 2013, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $4m to FINCA Georgia to Support Micro- and Small Businesses, Entrepreneurs,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-loans-4m-to-finca-georgia-to-support-micro-and-small-businesses-entrepreneurs/
MicroCapital story, June 12, 2013, “MICROCAPITAL BRIEF: FINCA Become Majority Stakeholder of Kashf Microfinance Bank of Pakistan with $8.4m Investment,” https://www.microcapital.org/microcapital-brief-finca-becomes-majority-shareholder-of-kashf-microfinance-bank-of-pakistan-with-8-4m-investment/
MicroCapital Universe Profile: FINCA International https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FINCA+International
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