MICROCAPITAL BRIEF: Microfinance Organizations Launch Fundraising Efforts to Help Haitian Earthquake Victims

Several microfinance institutions (MFIs) have launched fundraising campaigns to raise donations for the victims of the earthquake that struck Haiti on January 12, 2010. These organizations include ACCION International, BRAC, FINCA International, FONKOZE, Freedom From Hunger and Grameen Foundation. Donations can be made on their websites, found below.

By: Stefanie Rubin, Research Assistant

About ACCION International:

ACCION International was founded in 1961 with the aim of alleviating poverty in Latin America. In 1973 it began to focus primarily on microfinance. As of 2008, its affiliated programs had made USD 23.4 billion in micro loans to over 7.7 million people.

About BRAC:

Established in 1972, BRAC is a development organization based in Bangladesh. In 2009, BRAC deployed around USD 535 million toward its development efforts.

About FINCA International:

Established in 1984, FINCA International provides financial services to over 700,000 poor clients in 21 countries.

About Fonkoze:

Fonkoze was founded in Haiti in 1994. As of 2008, it had 21,225 active borrowers and a gross loan portfolio of USD 4.1 million. According to its website, “Fonkoze is a Haitian foundation that supports the organized poor, providing them with essential banking services.”

About Freedom from Hunger:

Established in 1946, Freedom from Hunger is an international development organization that works in 17 countries around the world. Its Credit with Education program is serving nearly 400,000 families.

About Grameen Foundation:

The Grameen Foundation aims to help microfinance institutions throughout the world replicate the microfinance model of the Grameen Bank. It provides financial, technological, and managerial support for local organizations, and intends to provide new business opportunities and telecommunication services to the rural poor. The Grameen Foundation works with MFIs in about 37 countries worldwide. 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.

Additional Resources:

Microfinance Gateway: http://www.microfinancegateway.org/p/site/m/template.rc/1.1.4138/

ACCION International: http://www.accion.org/

BRAC: http://www.brac.net/

FINCA International: http://www.villagebanking.org/

Fonkoze: http://www.fonkoze.org/

Freedom From Hunger: http://www.freedomfromhunger.org/

Grameen Foundation: http://www.grameenfoundation.org

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