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

ADB?s $250 Million Risk Programme to Expand Microfinance to Poor

By Sajid Chaudhry ISLAMABAD: The Board of directors of the Asian Development Bank’s (ADB) has approved a Microfinance Risk Participation Programme, marking ADB’s first large scale private sector microfinance initiative. An ADB statement issued here on Monday said the programme will allow ADB to partner with financial institutions that actively lend to microfinance institutions (MFIs) in ADB’s developing member countries, and to share the defaul...

Source

Daily Times (Pakistan) (link opens in a new window)

Region

South Asia

Microfinance Pioneer Yunus Criticises Indian Lenders

DHAKA - Bangladeshi microfinance pioneer Muhammad Yunus on Sunday attacked companies for "misusing and abusing" his original concept of helping poor people via small loans, after a backlash against profit-making lenders. Yunus admitted the reputation of micro-credit had been tarnished due to Indian commercial companies that charge high interest rates and use allegedly heavy-handed tactics to collect repayments. India’s biggest lender to the poor, SKS Microfinance, has been in ...

Source

Google News (link opens in a new window)

Region

South Asia

The Technology to Unlock the Future of Villages

In 20 years of working as a physician in Karnataka’s Hassan district, Kumaraswamy N E often found himself irked by the blurred readings on the electrocardiography (ECG) machine. Often enough, it just broke down, which meant that the high cost of measuring heart activity had to be passed on to the patient...

Source

The Times of India (link opens in a new window)

Region

South Asia

A Silver Lining in Pakistan’s Floods

With the devastating floods that began in July, Mother Nature has left an indelible imprint on Pakistan-its geography, its people, its national psyche. But it has also created an opportunity to change the destiny of millions of flood victims who traumatically lost their loved ones, homes, and livelihoods in mere days. This natural disaster may have given the country an opportunity to tackle a recurring point of contention in Pakistan-feudalism. Academics, journalists, and analysts have ...

Source

Businessweek (link opens in a new window)

Region

South Asia

Tata?s Nano, the Car That Few Want to Buy

Though car sales have shot up across India, because of an economy that is growing at nearly 9 percent annually, sales of the Nano have been falling for the last four months. Its maker, Tata Motors , sold only 509 Nanos to its dealers in...

Source

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

Region

South Asia

Thailand Post Wins Green Light to Lend

The cabinet yesterday approved a plan by Thailand Post to set up a subsidiary to provide microfinance services to low-income earners, using its nationwide post offices as a channel. Information and Communications Technology Minister Juti Krairiksh said that the subsidiary would have initial registered capital of 50 million baht and would extend loans as small as 10,000 baht each. He said that there are about 18 million low-income earners in the country who still have no access to ...

Source

Bangkok Post (link opens in a new window)

Region

South Asia

Tags

manufacturing

Malaysian Minister Pledges Help for Ethnic Indians

Kuala Lumpur, Malaysia will initiate a slew of measures, including access to micro-credit facilities and skills training, to improve the economic condition of its 2.1 million ethnic Indians, a senior minister said Wednesday. Human Resources Minister S. Subramaniam said the citizenship and welfare issues of the Indian community would be resolved by the end of next year. He said the cabinet committee’s special task force has identified 20 areas in the country with a high c...

Source

Sify News (link opens in a new window)

Region

South Asia

Acumen Fund Invests $11 Million in 9 Pakistan Sectors

KARACHI - The Acumen Fund has invested $11 million in nine different sectors for poverty alleviation in Pakistan. "The Fund started its investment in Pakistan in 2006 with an initial investment of $1 million, which has now increased to $11 million in 2010", Zubyr Soomro, chairman of Acumen Fund Pakistan Advisory Council, said at the Acumen Fund Community Annual Gathering 2010 at a hotel here on Saturday. He spoke about his personal journey with the Acumen Fund, and the inspiration ...

Source

Business Recorder (link opens in a new window)

Region

South Asia