The Bill and Melinda Gates Foundation, a US-based nonprofit that provides grants to organizations; the International Finance Corporation (IFC), a member of the US-based World Bank; MicroSave, an India-based for-profit consulting center; and the United Nations Development Program (UNDP), the global development network of the United Nations, have partnered to create the Helix Institute of Digital Finance, an online platform that will train mobile network operators, financial institutions and third-party providers in an effort to increase the efficiency and impact of their digital and financial services [1]. The Helix Institute, which launched, offers courses on topics including network management, data analytics and fraud prevention. The Institute will also launch the Agent Network Accelerator Programme, a project that will assess 25 agent networks in eight countries in Africa and Asia in order to increase knowledge of building and managing sustainable cash-in/cash-out networks in poor communities [3].
As of July 2013, the Bill and Melinda Gates Foundation reported a total endowment of USD 36.4 billion, 1,100 employees, operations in approximately 100 countries and total grants of USD 26.1 billion disbursed since its inception in 1994. As of December 2012, IFC reported 184 member countries, total assets of USD 76 billion and return on equity of approximately 5 percent. UNDP estimates an institutional budget of USD 857 million for 2012-2013. Financial information for MicroSave is not available.
By Megan McGowan, Research Associate
About the Bill and Melinda Gates Foundation:
Launched in 1994, the Bill and Melinda Gates Foundation is a US-based nonprofit organization that provides grants to organizations with the aim of enhancing health care, reducing poverty and expanding access to education and information technology. The foundation’s “Financial Services for the Poor” initiative focuses on providing people with secure places to save money. To support this initiative, the foundation works with financial organizations to increase access to technology and to forge partnerships among mobile phone companies, banks and microfinance institutions. As of July 2013, the Bill and Melinda Gates Foundation reported a total endowment of USD 36.4 billion, 1,100 employees, operations in approximately 100 countries and total grants of USD 26.1 billion since its inception.
About the International Finance Corporation (IFC):
A member of the US-based World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of December 2012, IFC reported 184 member countries, total assets of USD 76 billion and return on equity of approximately 5 percent.
About MicroSave:
Established in Uganda with United Nations funding in 1998, MicroSave is a for-profit technical assistance, training and resource center that relocated its headquarters to Lucknow, India, in 2006 with support from India’s ICICI Bank. In 2008, MicroSave was transformed into a consulting company, which has since completed projects in India and eleven African countries. Financial information for MicroSave is unavailable.
About the United Nations Development Program (UNDP):
The United Nations Development Program is a global development network of the United Nations. The mission of the UNDP is to provide developing countries with knowledge, experience and resources in line with the United Nations’ Millennium Development Goals (MDGs), a set of eight goals to achieve by 2015. UNDP operates in partnership with national governments in 177 countries and territories as of 2013. Each country office of UNDP contributes to the organization’s annual Human Development Report, which is intended to provide a benchmark for development. UNDP estimates an institutional budget of USD 857 million for 2012-2013.
Sources and Additional Resources:
[1] MicroSave Press Release: “MicroSave, With Gates Foundation, United Nations & IFC Launch The Helix Institute Of Digital Finance,” http://www.microsave.net/announcement microsave_with_gates_foundation_united_nations_ifc_launch_the_helix_institute_of_digital_finance
[2] Helix Institute of Digital Finance: http://www.helix-institute.com
[3] MicroSave Press Release: “Helix Introduces Its Agent Network Accelerator Programme,” http://www.microsave.net/announcement – helix_introduces_its_agent_network_accelerator_programme
MicroCapital.org Article, “CGAP, MicroSave Host Virtual Conference on “Client Insights: How Can Providers Listen and Learn from Their Clients”, October 30-31, 2012,” October 26, 2012, https://www.microcapital.org/microfinance-event-cgap-microsave-host-virtual-conference-on-client-insights-how-can-providers-listen-and-learn-from-their-clients-october-30-31-2012/
MicroCapital Universe Profile: Bill and Melinda Gates Foundation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bill+and+Melinda+Gates+Foundation
MicroCapital Universe Profile: International Finance Corporation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
MicroCapital Universe Profile: MicroSave, ?https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MicroSave
MicroCapital Universe Profile: United Nations Development Program (UNDP), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=United+Nations+Development+Program+%28UNDP%29
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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