by Conner Brannen -

MICROCAPITAL BRIEF: Pro Mujer Wins Second Annual Morgan Stanley Social Enterprise Strategy Challenge

Morgan Stanley, a global financial services firm based in the US, has declared Pro Mujer, a women’s development and microfinance organization that works in Latin America but is headquartered in New York City, as the winner of the second annual Morgan Stanley Social Enterprise Strategy Challenge. The challenge involved 12 New York City-based nonprofits working with teams of Morgan Stanley employees over the course of eight weeks.

by Stefanie Rubin -

MICROCAPITAL BRIEF: Pro Mujer Releases First Issue of Publication on Innovative Microfinance Services

Pro Mujer, an international microfinance organization serving 202,000 clients in Latin America, recently released the first issue of a publication that will evaluate field research on new microfinance services.

by Ryan Hogarth -

MICROCAPITAL STORY: Pro Mujer Registers as a Charity in the UK to Attract Philanthropic Funds

Pro Mujer International, an international non-profit affiliated with a network of five microfinance institutions (MFIs) in Latin America, released a press release announcing that it registered as a charity in England and Wales.  Maria Richter, Board Chair of Pro Mujer UK, explained that the new office was launched in effort to attract more philanthropic funding: “We expect many opportunities to garner support in the UK because there is a growing awareness of microfinance and the power it has to transform lives.”  The press release said that donations made to Pro Mujer UK would support the provision of credit, healthcare, and business training to poor women in Latin America.  Information was not provided how exactly the donations will be utilized.

by Yrenilsa Lopez -

MICROCAPITAL STORY: Pro Mujer to Mark 18 years of Microfinance during 2008 Benefit Event

Pro Mujer, an international microfinance organization serving women in Latin America will hold its 2008 benefit celebration in New York City on October 30th. The event will celebrate Pro Mujer’s 18 years of operation and over one million women served.

by Stephen Son -

MICROCAPITAL STORY: Commercial Bank Banco de Crédito del Perú to Lend $1.2m to Microfinance Institution Pro Mujer Peru

Banco de Crédito del Perú will make a USD 1.2 million-equivalent local-currency loan to microfinance institution (MFI) Pro Mujer Peru, according to a statement by the international non-profit Grameen Foundation, a major backer of the transaction.

by Sarah Knapp -

MICROCAPITAL STORY: Calvert Foundation Makes Microfinance Investments Totaling $1.6m in Banco Solidario, Unitus and Pro Mujer

In its Microfinance Capital Markets Update, CGAP (Consultative Group to Assist the Poor) reports that Calvert Social Investment Foundation invested USD 1.6 million in three microfinance organizations. Calvert invested USD 400,000 in Banco Solidario, USD 500,000 in Unitus and USD 650,000 in Pro Mujer. CGAP reports that in transacting with Pro Mujer, Calvert made two separate investments, one totaling USD 150,000, directed “worldwide”, the other totaling USD 500,000 directed towards Latin America and the Caribbean.

by Jennifer Lee -

MICROCAPITAL STORY: ING Review of American International Group (AIG) and Its Partnerships with ACCION, FINCA, MicroCred, Pro Mujer, and Pak-Oman Microfinance Bank

The Dutch Bank ING published its updated 2008 study on commercial bank microfinance activity, called “A Billion to Gain? The Next Phase”. A MicroCapital review of the paper can be read here. MicroCapital is reviewing the microfinance activities of several of large international banks covered in the study, such as American International Group (AIG).

by the MicroCapital Team -

MICROCAPITAL STORY: Microfinance Institution Pro Mujer Peru Offers Microinsurance to 43,000 Borrowers Via ING’s and Grupo Wiese’s InVita

Pro Mujer Peru, a microfinance institution (MFI) in the Pro Mujer network, has begun offering life insurance to its borrowers through a partnership with Peruvian insurance provider InVita, an affiliate of Dutch financial services provider ING and Peruvian conglomerate Grupo Wiese. Coverage for two family members in the amount of USD 880 for natural death and USD 1,760 for accidental death costs USD 0.37 per month. Pro Mujer claims the product is the least expensive available in Peru. The benefit also covers the balance of the entrepreneur’s loan to Pro Mujer Peru, eliminating this debt for surviving family members and other members of the borrower’s lending group, who would otherwise be expected to help repay the loan. Clients of Pro Mujer Peru form groups to apply for and repay loans.

by Steven Craig -

MICROCAPITAL STORY: Oikocredit of the Netherlands Lends $1m to Latin America Microfinance Promoter Pro Mujer

The Microfinance Capital Markets Newsletter of the Consultative Group to Assist the Poor (CGAP) and the MIX, the microfinance information clearinghouse, reported Oikocredit, a co-operative financial development institution in the Netherlands, issued a loan to the Pro Mujer Network.  The network reported that the loan was extended to Pro Mujer Peru in the amount of 3.2 million nuevos soles (USD 1 million).