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Grameen Foundation and ideas42 Launch Partnership to Expand Financial Inclusion in the Philippines
Grameen Foundation and ideas42 yesterday launched a new partnership to support financial inclusion in the Philippines using principles from behavioral science and innovations in digital financial services using mobile phones. The initiative, funded by JPMorgan Chase Foundation, aims to reach thousands of people identified in the low-income bracket throughout the country.
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- Uncategorized
- Region
- Asia Pacific
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Pro-Women, Anti-Cash: How Cashless Economies Can Boost Women’s Empowerment
We are still a long way from a world where cash is obsolete – in fact, 85 percent of consumer transactions are still conducted in cash, and for many people, hard currency clearly remains a useful commodity. But the landscape is changing rapidly, and for the world’s poorest and most excluded communities – and for women in particular – the drive towards cashless economies offers an exciting window of opportunity.
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- Uncategorized
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Ethiopia Banks on Mobile Money for Financial Growth
Outside a small store on a dirt track in the remote Ethiopian town of Doni, long queues wait for government cash handouts by the most modern of methods: mobile phone.
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- Technology
- Region
- Sub-Saharan Africa
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Paytm Launches Wi-Fi Pilot in India; Enables Free Internet for a Limited Duration
Underlining its digital-first approach, Paytm, India’s largest mobile payments and commerce platform, has announced the launch of its ambitious pilot project to enable seamless internet connectivity for users. Under this initiative, Paytm is enabling limited-duration free Wi-Fi for its users in partnership with a licensed ISP. The first such Wi-Fi initiative is already underway near the Noida-18 metro station in partnership with a licensed ISP.
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- Technology
- Region
- South Asia
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India’s Microfinance Industry Puts Crisis Behind It, Thanks to Regulations, Diligent Borrowers
The aroma of flaming gingelly oil wafted through the air as 16 women employees of Thrissurbased Global Chips & Foods braced themselves for another long day at work. A black wooden board, hung on a recently white-washed wall, listed out their day's chores: 20 kilograms of tapioca chips and 20 kgs potato chips.
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- Uncategorized
- Region
- South Asia
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An Underutilized Weapon Against Climate Change Risks: Maximizing the Potential of Micro-insurance
Over the past few decades, changes in climate activity have led to extreme weather events that have posed substantial threats to security and financial well-being – particularly at the bottom of the economic pyramid. As these natural disasters may become the new norm, new strategies are needed to address their impact, both during and after the events. One approach to building this resilience is through asset-based micro-insurance.
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- Environment
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Janalakshmi, The Largest Microfinance Institution in India, Announces $210M Equity Round
Janalakshmi Financial Services Limited (“Janalakshmi”) today announced a $150 million (INR 10 billion) round of primary equity financing led by global private investment firm TPG. In addition, secondary transactions aggregating $60 million (INR 4 billion) will provide partial exits to existing investors.
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- Investing
- Region
- South Asia
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The Most Powerful Weapon for Changing the World: How Microfinance Institutions Can Increase Access to Education
Nelson Mandela described education as the “most powerful weapon which you can use to change the world.” But how can we increase access to quality education for children and adults? The author maintains that governments and the philanthropic sector can play a role, but there's also a practical need for private financial resources to support education access.
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- Education