Europe & Eurasia.

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  • Re-emerging Poor a Target for Some Retailers

    BELGRADE (Reuters) - As recession squeezes the fledgling middle classes of emerging economies, special shops for the poor are seizing the opportunities. Slovenia and Serbia are among countries opening "SOS" shops that allow custom only from those officially registered as poor, who need special cards to access them. "We see this effort as a new retail concept," Trade Minister Slobodan Milosavljevic said at a ceremony in March to open the first SOS shop, a whitewashed old house with...

    Source
    Reuters (link opens in a new window)
    Region
    Europe & Eurasia
  • Travel-Blogue Day 6: Muhammad Yunus? Next Big Thing

    The way Noble Peace Prize winner Muhammad Yunus sees it, the micro-credit revolution is running its course in his home country of Bangladesh. Between his Grameen Bank and other NGOs, which together make Bangladesh the most heavily micro-credit-enabled place on earth, he estimates that about 80% of the poor families that might want to participate are being served already. His goal is for Grameen to help finish the job by 2012. What’s next? Health care. This is the biggest ...

    Source
    Business Week Blog (link opens in a new window)
    Region
    Europe & Eurasia
  • Migrant workers sending money home has become the biggest source of foreign income in some poor European countries, the World Bank has said. In a report on European and Central Asian (ECA) nations, the bank said that remittances sometimes beat foreign investment aid and exports in size. Officially recorded payments in the region - which includes former Soviet states - were over $19bn (?9.67bn). The largest amount of remittances, as a share of GDP, were sent to...

    Source
    BBC (link opens in a new window)
    Region
    Europe & Eurasia
  • EBRD signs first Mongolia project, microfinance loan

    The European Bank for Reconstruction and Development (EBRD) signed its first project in Mongolia on Wednesday, a $5 million loan to XacBank, which specialises in microfinance. The funds will be lent on to small and micro-businesses throughout the country. XacBank, licensed four and a half years ago, offers loans ranging in size from $27 to $150,000, according to its Web site (www.xacbank.org). Continue reading ...

    Source
    Yahoo! Asia News (link opens in a new window)
    Region
    Europe & Eurasia
  • IFC to Help Kyrgyz Not-for-Profit Group Reach More Microentrepreneurs

    The International Finance Corporation, the private sector arm of the World Bank Group, today signed an agreement to provide a $2.2 million financing package to Micro Credit Agency Bai Tushum Financial Foundation, one of Kyrgyzstan?s leading micro lending institutions. Through the package, IFC will support the transformation of Bai Tushum from its present not-for-profit status to a more sustainable, commercially-oriented, deposit-taking financial institution that can serve as a...

    Source
    ifc.org (link opens in a new window)
    Region
    Europe & Eurasia