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Press Release: International Finance Corporation Loaning $2.5m to La Fayette Microfinance Bank, Nigeria
The International Finance Corporation (IFC), a member of the World Bank Group, is investing NGN 400 million (USD 2.5 million) in La Fayette Microfinance Bank, one of eight members of the Advans Network of microfinance institutions, which is based in Luxembourg and managed by Horus Development Finance of France. The investment will support the growth of La Fayette, which was created in June 2012 and target micro-, small and medium-sized enterprises in Nigeria’s urban areas.
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- Uncategorized
- Region
- Sub-Saharan Africa
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The Mysterious Disappearance of Poverty
How do you help the poor? It is a very old question. The Roman emperor Nero found the answer in the advice of Stoic philosophers like Seneca, and built an awe-inspiring palace covered in gold leaf. This would fill the lower classes with gratitude for being blessed with such a glorious leader. Perhaps not coincidentally, the Roman senate ended Nero’s reign by ordering him to commit suicide four years later.
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- Uncategorized
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State-Owned Bank Negara Indonesia Prepares to Launch Branchless Banking Program
State-owned Bank Negara Indonesia (BNI) is preparing to expand its electronic money (e-money) service to increase low-cost funds as well as to offer wider banking access.
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- Uncategorized
- Region
- Asia Pacific
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India’s National Bank for Agriculture and Rural Development Launches Digitization Scheme for Women Self-Help Groups
With an objective to promote financial inclusion, Nabard today started a pilot project for complete digitisation of women self help groups (SHGs) to improve the quality of interface between members and banks for efficient and hassle free delivery of banking services.
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- Uncategorized
- Region
- South Asia
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Deutsche Bank Closes $50 Million Social Enterprise Fund
Deutsche Bank’s Global Social Finance Group today announced the closing of the Essential Capital Consortium (ECC), a five-year USD 50 million social enterprise fund, which is part of its family of social impact funds first launched in 2005.
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- Uncategorized
- Tags
- microfinance
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Next Phase of Jan Dhan Yojana to Mobilize Financial Savings
The finance ministry on Wednesday said the next phase of the government's ambitious financial inclusion scheme, Pradhan Mantri Jan Dhan Yojana (PMJDY), will be focused on mobilisation of financial savings to reverse the decline in the savings rate.
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- Uncategorized
- Region
- South Asia
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India’s Top Mobile Wallet App Adds Support for Payments to Bank Accounts
Paytm, a India-based mobile payments service operated by (now) Alibaba-backed One97, has introduced a big new feature that lets 25 million users transfer money to bank accounts.
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- Uncategorized
- Region
- South Asia
- Tags
- digital payments
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Grameen Foundation USA Partners with MetLife Foundation to Provide Microfinance in Uttar Pradesh
Grameen Foundation US has partnered with MetLife Foundation to provide savings and other services to at least 40,000 poor and women clients in Uttar Pradesh.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- microfinance
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