PlaNet Finance, a global microfinance institution support charity, is opening an office in Montreal. This new representation will be known as PlaNet Finance Canada. PlaNet Finance launched in Paris in 1998 as a nonprofit organization aimed to aid microfinance efforts worldwide. Currently, PlaNet Finance has offices in all G8 countries except Canada. The Montreal office will work with Canadian authorities, engage in fundraising, and coordinate Canadian expertise to apply to projects worldwide. [1]
Members of the PlaNet Finance Group include the microfinance rating agency Planet Rating, the investment company MicroCred, the insurance unit Planet Guarantee, the venture capital company FinanCites, the software division MicroFit, and the training center Planet University. Since its founding in 1998, PlaNet Finance has supported 1,500 microfinance institutions that serve 9 million clients. In 2007, the most recent year of financial reporting, PlaNet Finance raised USD 10.8 million in donations and granted USD 559,000 via direct cash to its MFI partners. However, 2007 saw a net déficit of USD 458,000. As of the end of 2008, PlaNet Finance Group was active in 80 countries. See bibliography items [3]-[6] for more Microcapital stories about PlaNet Finance, including an interview with Arnaud Ventura, co-founder and Vice President of PlaNet Finance, and Emmanuelle Javoy, Managing Director of Planet Rating.
by Kenny Kline, Research Associate
Additional Resources:
[1] Financial Post, “Canada Welcomes PlaNet”
http://www.financialpost.com/small-business/business-solutions/story.html?id=2145292
[2] PlaNet Finance Microfinance
http://www.planetfinancegroup.org/EN/microfinance.php
[3] Who’s Who in Microfinance: PlaNet Finance
[4] MICROCAPITAL STORY: PlaNet Finance UAE to Launch Microfinance Institution in Oman
[5] MEET THE BOSS: Arnaud Ventura of PlaNet Finance and MicroCred
[6] MEET THE BOSS: Emmanuelle Javoy, Managing Director of Planet Rating
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