As a part of its goal to reach 300,000 “microentrepreneurs, smallholder farmers, and [members of] vulnerable populations,” the US-based Whole Planet Foundation is accepting applications for loans and grants from “socially-focused microfinance institutions, social enterprises, nonprofit organizations and cooperatives” that provide microloans and related services.
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MICROCAPITAL BRIEF: Whole Foods Market’s Whole Planet Foundation Raises $2.2m to Support Microfinance Institution Partnerships in 11 Countries, Including Expanding Work with Grameen America to New York, Miami
The Whole Planet Foundation, an affiliate of US-based grocer Whole Foods Market, announced it has secured donations of USD 2.2 million (as of March 17) towards its goal of raising USD 3.2 million by the end of March 2017 to grant for microlending through
MICROCAPITAL STORY: Unitus, Inc. and Whole Planet Foundation Announce Partnership With Jamii Bora Trust, a Kenyan MFI
Unitus, Inc. and Whole Planet Foundation (WPF), a Whole Foods Market foundation, announced plans to fuel the growth of microfinance in the coffee-growing regions of Kenya. Specifically, the two will support Jamii Bora Trust, one of Kenya’s fastest growing microfinance institutions and a Unitus partner since 2003, expand into the rural coffee-growing regions of Central and Eastern provinces in Kenya. This agreement, the amount of which was undisclosed, marks Whole Planet Foundation’s first entry into Africa.
MICROCAPITAL STORY: Whole Planet Foundation and Silverton Foundation Team with Triodos Bank to Loan $1m to Timorese Microfinance Institution (MFI) Moris Rasik for Increased Micro-lending
Austin-based Whole Planet Foundation and Silverton Foundation recently announced a collaborative commitment of USD 600,000 to microfinance institution (MFI) Moris Rasik of Timor-Leste for rural micro-lending projects. The Democratic Republic of Timor-Leste (East Timor) is the poorest country in Asia. The funding for Moris Rasik will be augmented by an additional USD 400,000 from Triodos Bank of the Netherlands.
MICROCAPITAL STORY: Whole Foods Partners with Muhammad Yunus to Found Whole Planet Foundation Supplier Alliance for Microcredit, Uniting Natural Foods Vendors to Pledge $1m to Microfinance
Whole Planet Foundation (WPF), a Whole Foods Market nonprofit that makes grants and loans to microfinance institutions in developing countries, announced in March the creation of a coalition of natural foods companies dubbed the Whole Planet Foundation Supplier Alliance for Microcredit (WPFSAM). WPFSAM has pledged USD 1.05 million over three years to WPF. WPF’s operating expenses will continue to be funded by Whole Foods Market, which invests USD 1 million annually in the effort. The newly committed funds will be loaned to an estimated 6,500 families via implementation partners that include Grameen Trust in Costa Rica, Guatemala and India; Fundación Adelante in Honduras; and Pro Mujer in Nicaragua. A partial transcript and online audio are available of Grameen Bank founder Muhammad Yunus’s interview regarding this commitment by Washington’s National Public Radio.
MICROCAPITAL BRIEF: 26 Inclusive Finance Players Pledge to Support Microfinance Institutions (MFIs), Clients Throughout Pandemic
At the initiative of the Luxembourg-based Grameen Crédit Agricole (GCA) Foundation, microfinance lenders and other operators in the inclusive finance sector have agreed to a set of “Key Principles to Protect Microfinance Institutions and Their Clients in the COVID-19 Crisis.” The commitment involves measures including: operating in a customer-centric manner, protecting staff members, sharing
MICROCAPITAL BRIEF: Kenya’s Jamii Bora Bank Upscaling to Target Small, Medium-Sized Enterprises
The Jamii Bora Bank of Kenya announced recently that it has shifted its focus to serving small and medium- sized enterprises (SMEs) from advancing microfinance.
MICROCAPITAL BRIEF: Women Enterprise Fund Loans $2m to Jamii Bora Microfinance Bank in Kenya
Jamii Bora Bank of Kenya recently received KES 200 million (USD 2 million) in loans from the Kenya-based Women Enterprise Fund (WEF), a government agency that provides credit to support the start-up and expansion of women-owned businesses.
MICROCAPITAL.ORG STORY: Unitus Hires Dr. Brigit Helms as New CEO
Unitus Inc., a Seattle based microfinance group, has hired Dr. Brigit Helms as its new chief executive. Dr. Helms will replace Geoff Davis, who stepped down as Unitus CEO in July 2008.[1]
MICROCAPITAL STORY: Jamii Bora Trust, Microfinance Institution Based in Kenya, Reaches $38m in Loans; Backers Acquire City Finance Bank
The Jamii Bora Trust reached a total loan portfolio to KES 3 billion (USD 38.3 million) this week. Over 329,000 loans have made by the microfinance institution (MFI) since being established in 1999. The Founder and managing trustee of Jamii Bora, Ingrid Munro said, “we expect the total loan disbursement to hit the Sh4 billion (USD 51 million) mark by the end of this year, if the current pace is maintained”. The MFI’s shareholders have also acquired a controlling interest in City Finance Bank, a public company. A trustee on the board of Jamii Bora, Kibuga Kariithi, declined to provide details, saying that “the transaction is confidential because it is still subject to regulatory approvals”.