MICROCAPITAL BRIEF: Grameen Foundation Announces Creation of Bankers Without Borders (BwB) Alliance Program to Expand Microfinance Institution (MFI) Volunteering Initiative

Grameen Foundation, a US-based nonprofit, has announced the creation of the Alliance Program, within its Bankers Without Borders initiative, which will focus on increasing volunteerism in the microfinance and development technology sectors in Asia and Latin America.

The BwB Alliance Program was established to help microfinance and development-oriented technology initiatives better manage their growth and improve their reach, impact and sustainability by using skilled volunteers. Under the program, selected organizations receive an initial investment of USD 10,000 to USD 30,000 to “work with beneficiary organizations to identify their critical needs and structure ways for skilled volunteers to address them through training, technical assistance, and advisory services”.

On August 17, 2010 MicroCapital reported that BwB had received USD 150,000 from J.P. Morgan’s Social Finance Unit for the establishment of the BwB Alliance Program.

The first three Alliance members are Promuc of Peru, Contactar of Colombia and Access Development Services of India. Each of these members will receive seed capital, technical assistance and operational support to increase their capacity to utilize volunteers. The BwB Alliance member organizations were selected through a competitive process, and the foundation will launch a new competition in January 2011 to identify the next round of Alliance member organizations with a focus on Africa.

Founded in 2008, BwB has approximately 50 projects operating in nine countries as of February 2010.

By Witt Gatchell, Research Associate

About Grameen Foundation:
The Grameen Foundation, a nonprofit based in Washington, DC, aims to help microfinance institutions throughout the world replicate the microfinance model of the Grameen Bank https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Gra…. It provides financial, technological and managerial support and intends to provide new business opportunities and telecommunication services to 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 25 million as of March 31, 2009.

About Bankers Without Borders (BwB):
Bankers Without Borders is a volunteer program started by the US-based nonprofit Grameen Foundation that supports microfinance and technology initiatives related to finance in poor countries. It was founded in 2008 and, as of February 5, 2010, had approximately 50 projects operating in nine countries. It has received funding from JP Morgan Chase and the Bill and Melinda Gates Foundation.

About JP Morgan’s Social Finance Unit:
JP Morgan’s Social Finance Unit provides investment and capital markets services to social enterprises, funds, foundations, non-governmental organizations, development financial institutions and other investors serving the base of the economic pyramid. The unit was launched in November 2007, as part of JP Morgan’s investment banking division. The group serves as the client contact for social impact investment opportunities.

Sources and Additional Resources:
[1] Grameen Foundation Press Release: “Grameen Foundation Expands Innovative Skills-Based Volunteer Program to Latin America and Asia”, http://www.grameenfoundation.org/press-releases/grameen-foundation-expan

MICROCAPITAL BRIEF: 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-b…

MicroCapital Universe: Grameen Foundation:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Gra

MicroCapital Universe: Bankers Without Borders (BwB): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ban

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

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