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OPIC Achieves $1 Billion in Global Microfiance Support
The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today announced that the agency has surpassed $1 billion in financing support to global microfinance institutions, lenders and frameworks since 2010. OPIC provides financing to microfinance institutions through investments in microfinance vehicles, targeted credit facilities to individual microfinance institutions (MFIs), risk-sharing agreements, and guaranties supporting innovative industry efforts. OPIC’s financing has supported more than 100 microfinance institutions in more than 30 countries.
- Categories
- Investing
- Tags
- lending, microfinance
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IKEA Foundation Opens Clean Water Access Through Micro-finance Loans
In cooperation with Water.org, the IKEA Foundation will enable 300,000 people to access clean water and sanitation over the next four years through a micro-finance loan program, foundation CEO Per Heggenes said during a discussion in Jakarta.
- Categories
- Health Care
- Region
- Asia Pacific
- Tags
- microfinance
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Study: Micro-financing Impoverished Communities ‘Can Lead to Increased Debt Levels and Suicide’
Micro-financing "led to a higher level of debt among already impoverished communities" in the developing world, instead of kickstarting jobs, according to new study. After months of research in Bangladesh, Dr Laurel Jackson has warned that the practice of providing small loans to poor families is dramatically increasing stress and debt levels.
- Categories
- Uncategorized
- Tags
- microfinance, research
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Tigo Tanzania Launches Innovative Nano Lending Scheme to Its Mobile Money Customers
Tigo Tanzania has today announced that it will launch an easy to access nano lending product to its stable of mobile financial services. This new product will not require collateral and offers immediate access to small loans to Tigo Pesa users.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Viewpoint: The Next Step for Developing Cuba? Microfinance
All eyes are on Cuba as U.S. President Barack Obama and at least 20 members of Congress descend on Havana today. While members of the delegation differ on the best path forward for U.S.-Cuban relations, everyone hopes for economic development that improves the quality of life for the average Cuban. What are the next steps for development in Cuba? And, how can the international community help Cuba preserve the educational and health gains of the Cuban revolution, while also updating its failing economic model?
- Categories
- Uncategorized
- Region
- Latin America
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Tech Entrepreneurs Boost Microfinance Startup Zidisha
Craigslist founder Craig Newmark and a handful of other tech entrepreneurs and companies have donated a total of $525,000 to microfinance startup Zidisha, which hopes to bring down costs of peer-to-peer lending to cash-strapped young entrepreneurs in the developing world by getting rid of intermediaries.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- lending, microfinance
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18th Microcredit Summit Campaign Announces Declaration on Economic Empowerment and Social Inclusion
Organised jointly by Khalifa Fund for Enterprise Development, the Arab Gulf Programme for Development (AGFUND), and the Microcredit Summit Campaign, the summit gathered 1000 global policy makers, central bank managers and microfinance experts to explore and discuss innovative financial inclusion strategies that can create clear pathways to economic and social inclusion.
- Categories
- Uncategorized
- Region
- North Africa & Near East
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Kenyans Abroad Shun High Interests Rates With Diaspora-Founded Bank
Kenyans in the diaspora are shunning high interest rates and remittance costs charged by local banks with the launch of a microfinance institution.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- microfinance
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