NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Citigroup, the US bank, will on Friday announce plans to lend an initial $100m to microfinance institutions in the developing world, underlining the increasing interest in microfinance by mainstream business.

The funding will help capitalise hundreds of micro-finance institutions, which provide very small loans to individuals in developing countries, and will be particularly focused on smaller institutions that have not traditionally received finance.

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