NextBillion - A WDI Publication

Experts Warn Africa Must Learn from India’s Microfinance Problems

It has been lauded as one of the most promising ways of using the market to reduce poverty and boost economies in some of the world’s most deprived areas. But in recent months the work of microfinance institutions (MFIs), which provide small loans to poor people with no access to traditional banking services, has come under scrutiny after a spate of suicides in the Indian province of Andhra Pradesh was linked to borrowers’ inability to repay their loans. The news made inte...

Source

CNN (link opens in a new window)

Region

Sub-Saharan Africa

Tata Signs up MIT Energy Guru for Power from Water

Bangalore: In the first such effort, Tata group chairman Ratan Tata has signed on a leading scientist from the globally renowned Massachusetts Institute of Technology (MIT) to commercialize cutting-edge research that promises to produce cheap power from water. Daniel Nocera, a professor of chemistry and energy, and his group of elite scientists at MIT attracted attention from Tata when he heard they had found a way towards one of science’s holy grails-to imitate photosynthesis, the ...

Source

livemint.com (link opens in a new window)

Region

South Asia

Nokia Extends Mobile Money Service to Union Bank in India

Nokia Oyj (NOK1V) , the world’s biggest maker of mobile phones, has started supplying mobile banking services for a Union Bank of India offering aimed at phone customers who don’t have bank accounts. The Union Bank Money Powered by Nokia service is available in Gurgaon and will be released nationwide over the next few months, the Mumbai-based bank s...

Source

Bloomberg (link opens in a new window)

Region

South Asia

Microfinance Under Fire

By DAVID BORNSTEIN At Fixes, our focus is typically on implementing new or underutilized ideas to help those in need. But sometimes it’s just as important to protect institutions that are already working well. Which is why I’m writing today about the Grameen Bank, the Bangladeshi organization that won the 2006 Nobel Peace Prize, along with its founder Muhammad...

Source

The New York Times Opinionator (link opens in a new window)

Region

South Asia

Sa?d Business School: US Marines Call on Social Entrepreneur in Afghanistan

When Connie Duckworth received a call from the office of Commanding General of the Marines First Expeditionary Force operating in Afghanistan, she was surprised to say the least. Ms Duckworth is a social entrepreneur working in poor rural communities in Afghanistan well beyond the theatre of war. The Marines, however, had heard about her approach to developing sustainable economic growth within these communities and wanted to learn more. Ms Duckworth’s social venture ARZU has been w...

Source

The Financial (link opens in a new window)

Categories

Education

Region

North Africa & Near East

PepsiCo Foundation Announces $5 M Grant to IDB’s AquaFund

The PepsiCo Foundation recently announced a $5 million grant to the AquaFund, launched by the Inter-American Development Bank (IDB), to facilitate investment in water supply and sanitation, water resources, solid waste management and wastewater treatment. The AquaFund agreement was signed by Luis Montoya, President of PepsiCo Latin American Beverages, and Luis Alberto Moreno, President of the IDB, at the International Environment Summit in Guayaquil, Ecuador. The grant will fund a...

Source

Microfinance Focus (link opens in a new window)

Categories

Health Care

Region

Latin America

USAID, IYF To Promote Entrepreneurship Among Palestinian Youth

A $15 million initiative to improve entrepreneurship , civic engagement and employment opportunities for young people in the Palestinian territories has been launched in Ramallah in the West Bank. The four-year program is a partnership between the U.S. Agency for International Development and the International Youth Foundation. Dubbed the "Youth Entrepreneurship Development" program, it aims to help young people between 1...

Source

Devex (link opens in a new window)

Region

North Africa & Near East

Avon Budgets RM100m Micro Credit Loans

Avon Cosmetics (Malaysia) Sdn Bhd, the largest direct selling cosmetics company in Malaysia, allocates micro credit loans of RM100 million annually to provide business opportunities, especially for women. "Through the Avon micro credit loans financing, we provide loans of between RM1,000 to RM70,000 to distributors without a deposit or interest," said Avon president Malaysia, Thailand, Vietnam and Indonesia, Mansoor Wan Abdullah. He was speaking to reporters after ...

Source

Business Times (link opens in a new window)

Region

Asia Pacific