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Microfinance Records Lowest Investment Growth in Six Years ? MicroRate
According to MicroRate’s ’The State of Microfinance Investment 2011’ report, the lingering effects of the economic crisis led to the lowest microfinance investment growth rate observed in the past 6 years, with total Microfinance Investment Vehicle (MIV) assets growing 12% in 2010. Rating agency MicroRate has been doing annual survey and analysis of MIVs for the last six years and this year it received information from 80 MIVs covering 92% of global assets under management. ...
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- Latin America
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Haitians Return to Africa, Bringing Solar Energy
SEATTLE, U.S., Aug 2, 2011 (IPS) - Jean Ronel Noël, a young Haitian engineer, stood in a centuries-old fort on a small island just off Dakar and looked out at the Atlantic through a portal that once led enslaved Africans to the ships of the Middle Passage. "Finally we come to ’the door of the voyage of no return’," he wrote in a blog . "My blood wouldn’t stop boiling, wave after wave of...
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- Latin America
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How a 100-Year-old Tortoise Helped Build a Scalable Social Enterprise
There is no shortage of people with a vision to change the world. But how? Strategy without the proper execution is simply a dream. When met with environmental and societal issues, organisations tend to use linear thinking (give a man a fish) to identify a solution to the problem instead of taking a circular, sustainable approach (teach a man to fish) by investing in the prevention of certain situations. Take Lonesome George for example. As the last surviving tortoise of its kind, many ...
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- Latin America
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IFC to Invest USD 4.6 Million in Peru?s Microfinance Institution
IFC, a private sector arm of the World Bank Group, is contributing to the capital increase of microfinance lender, Caja Nuestra Gente with an investment of US $4.6 million. The investment will help Caja Nuestra Gente expand its operations in rural areas and among low-income urban communities in Peru. Caja Nuestra Gente is owned by Spain’s BBVA Microfinance Foundation (FMBBVA). In addition to this investment, IFC has also opened a medium-term local-currency loan facility to support C...
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- Latin America
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Root Capital Makes Money By Investing Where Wall Street Won’t: Poor, Rural Farmers
Small money, big change. That, in essence, is what William Foote was banking on when he ditched Harvard Business School to start what is now Root Capital , a "nonprofit social investment fund" that lends to small and medium rural businesses in developing countries. Root Capital’s business model is to go where other banks will not --the agricultural sector of poor countries --and loan rural businesses as much as $500,000 to expand or improve t...
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- Latin America
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7.5 Lakh Families to Benefit from Cemex?s Housing Microfinance Program
Patrimonio Hoy, the housing microfinance program of CEMEX, is expanding its lending program to low-income families in Mexico and four other Latin American countries with a partial credit guarantee of up to $10 million from the Inter-American Development Bank (IDB). As many as 750,000 families are expected to benefit over the next five years through this project. Patrimonio Hoy is one of Latin America’s social enterprises that provide low-income families earning of less than four tim...
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- Uncategorized
- Region
- Latin America
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Rio Reborn: The Favela Where Cosmetics Reps Have Replaced Drug Gangs
Miriam Pereira da Lima, 29, sheds tears as she watches her daughter dancing in the square while children ride past on bikes and fly kites. "Until a few months ago kids didn’t play out on the streets," she says, still adjusting to life after the pacificação, when the Brazilian army and police moved into the Complexo do Alemão, one of Rio de Janeiro’s infamous favelas, and drove out the drug gangs. With peace on the streets, business opportunities are on the r...
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- Latin America
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IDB Offers $25 Million Loan to Raise Farmer?s Productivity in Peru
The Inter-American Development Bank (IDB) recently offered a $25 million loan to increase productivity and exports of farmers in Peru. The program will directly benefit about 14,000 producers participating in the Program of Compensation for Competitiveness, over the next four years, of which an estimated 42 percent are women. The program aims to raise farmers’ productivity by 10 percent and increase the value of their products in domestic and foreign markets by 20 percent by the end...
- Region
- Latin America