MICROCAPITAL BRIEF: Grameen Foundation Bankers Without Borders Initiative Provides $150,000 in Funding for Alliance Program to Expand Volunteer Work in Sub-Saharan Africa

Bankers Without Borders, which is an initiative of US-based nongovernmental organization (NGO) Grameen Foundation, recently announced a second round of funding for its Alliance Program in the amount of USD 150,000, which is intended to engage active and retired business professionals as a resource for microfinance and other development initiatives. Selected organizations will receive up to USD 30,000 and operational support from Bankers Without Borders to establish and expand the program within their regions by assessing how and where skilled volunteers can be most useful and placing them accordingly.

While the first round of funding for the Alliance Program accepted applications from organizations in Asia, Africa, Latin America, the Caribbean and the Middle East, this second round will focus primarily on Sub-Saharan Africa. Bankers Without Borders has managed 150 projects to date, arranging approximately 50,000 hours of volunteer service valued at approximately USD 4 million. The deadline for organizations to submit funding proposals is February 28, 2011.

By Julie Moksim, Research Associate

About Grameen Foundation: The Grameen Foundation, a nonprofit organization based in Washington, DC, aims to help microfinance institutions throughout the world replicate the microfinance model of the Grameen Bank, a Bangladeshi microfinance institution. It provides financial, technological and managerial support to provide new business opportunities and telecommunication services for poor people in rural areas. 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 33.1 million as of March 31, 2010.

Sources and Resources:

Grameen Foundation Press Release: “Grameen Foundation Bankers Without Borders Initiative Announces Funding to Expand Volunteer Program to Sub-Saharan Africa”, http://www.grameenfoundation.org/press-releases/grameen-foundation-bankers-without-borders-initiative-announces-funding-expand-volunt

MicroCapital.org Brief, August 17, 2010: Bankers Without Borders (BWB) Receives $150,000 in Seed Capital for Alliance Program from JP Morgan’s Social Finance Unit, https://www.microcapital.org/microcapital-brief-bankers-without-borders-bwb-receives-150000-in-seed-capital-for-alliance-program-from-jp-morgan?s-social-finance-unit/

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