MICROCAPITAL BRIEF: United Nations Capital Development Fund Seeks Financial, Technical Service Providers to Expand Savings Microfinance Program MicroLead

The United Nations Capital Development Fund (UNCDF), an agency that provides investment capital and technical advice to developing countries, has launched a request for applications for the expansion of its MicroLead program, which seeks to support financial service providers and technical service providers in expanding the availability of savings services to new markets in Sub-Saharan Africa [1].

MicroLead is a microfinance program that was founded in 2009 with funding from UNCDF and the Bill & Melinda Gates Foundation, a US-based nonprofit organization. It provides loans and grants to microfinance institutions, commercial banks and financial cooperatives that are based in developing countries and are committed to a savings-based approach. As of October 2011, MicroLead has funded 13 projects worth USD 20.1 million [1]. The MicroLead Expansion Program, which is funded by the Canada-based philanthropic organization MasterCard Foundation, seeks to contribute to the development of inclusive financial sectors, aiming to deliver appropriate financial and non-financial products to 450,000 low income people by June 2017 [2]. The program also endeavors to test whether a savings-led approach creates stronger and more resilient financial service providers [1].

The application deadline is 1 February 2012. For more information, you may contact Pamela Eser, MicroLead Programme Manager at pamela.eser@uncdf.org or +1-212-906-6693.

By Kristha Abores, Research Associate

About United Nations Capital Development Fund (UNCDF):
United Nations Capital Development Fund (UNCDF) is the UN’s capital investment agency for the world’s 48 least developed countries. It endeavors to create opportunities for poor people and their small businesses by increasing access to microfinance and other forms of investment capital. UNCDF focuses on Africa and the poorest countries of Asia, with a particular commitment to countries emerging from conflict or crisis. In 2010, UNCDF received a total of USD 41.1 million in contributions and reported total assets of USD 81.6 million.

About MasterCard Foundation:
Based in Canada, the MasterCard Foundation is a private foundation with the goal of enabling people living in poverty to improve their lives with increased access to microfinance and education. The foundation was established in 2006 by a gift of shares from global payment processor MasterCard Worldwide during the company’s initial public offering. As of 2010, the MasterCard Foundation reported approximately CAD 3 billion (the equivalent of USD 2.9 billion) in assets.

Sources and Additional Resources:
[1] UNCDF Website: “UNCDF MicroLead Expansion Request for Applications”, http://www.uncdf.org/english/news_and_events/index.php?record=236

[2] UNCDF: “UN Capital Development Fund (UNCDF) MicroLead Expansion RFA and Annexes”, http://www.uncdf.org/english/microfinance/uploads/other/UNCDF%20MicroLead%20Expansion%20RFA%20and%20annexes%20English.pdf

UNCDF: “Support to Savings-Led Microfinance Market Leaders to Enter Underserved Countries 2011-2017 (MicroLead Expansion Programme)”, http://www.uncdf.org/english/microfinance/uploads/project/MicroLead%20Expansion_Programme%20Document_signed.pdf

MicroCapital.org article, September 22, 2011, “MICROCAPITAL BRIEF: MasterCard Foundation, UN Capital Development Fund (UNCDF) Announce $23m Expansion of MicroLead Program to Promote Savings in Developing Countries”, https://www.microcapital.org/microcapital-brief-mastercard-foundation-un-capital-development-fund-uncdf-announce-23m-expansion-of-microlead-program-to-promote-savings-in-developing-countries/

MicroCapital.org article, May 6, 2011, “MICROCAPITAL BRIEF: Opportunity International to Receive Grant of $2.5m from United Nations Capital Development Fund’s (UNCDF’s) MicroLead Program to Begin Microfinance Services In Democratic Republic of Congo”, https://www.microcapital.org/microcapital-brief-opportunity-international-to-receive-grant-of-2-5m-from-united-nations-capital-development-funds-uncdfs-microlead-program-to-begin-microfinance-services-in-democratic-republic-of-co/

MicroCapital Universe Profile: United Nations Capital Development Fund (UNCDF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=United+Nations+Capital+Development+Fund+%28UNCDF%29

MicroCapital Universe Profile: MasterCard Foundation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MasterCard+Foundation

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

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