Microfinance NewsBlackstone, Carlyle Eye Microfinance FirmsOct 12, 2007 — Published by: The Economic Times, IndiaPrivate equity interest in microfinance institutions (MFIs) is reaching a crescendo with heavyweights such as Blackstone and Carlyle willing to invest in the sector. Both these groups have shown interest in putting money into MFIs, said a source close to the development. The quantum of investments may be upwards of $20 million. The target firms are not yet clear. Download Microcredit is booming in India, but the loans don’t often pull people out of povertyNov 27, 2006 — By Claire Cain MillerIn the K.R. Puram Slum in Banglore, India, a group of 15 women have borrowed $330 and meet weekly to make repayments. The loans were meant to serve as capital for them to start small businesses and, eventually, lift themselves out of poverty, but the women say the loans haven't turned into new income. Download AfriCap awarded 2006 Africa Investor Award for Venture Capital Deal of the YearNov 9, 2006 — By Wagane BioufAfriCap overcame strong international competition to win the 2006 Africa Investor award for Venture Capital Deal of the Year. The award recognizes the successful investment and partial exit from Equity Bank Ltd. in Kenya. Download The New Yorker: Millions for MillionsOct 23, 2006 — By Connie BruckMicrofinance has changed in the past thirty years, achieving broad recognition and even some early commercial success. Download Press Release: OPIC Board Approves $70 million for Global Microfinance ProgramSep 22, 2006 — Public RelationsThe board of directors of OPIC approved a $70 million guarantee enabling Citigroup to launch a new microfinance term local currency lending program designed to fund microfinance institutions in Africa, Asia, Central and Eastern Europe, and Latin America. Download Banking Business Review Online: AIG Announces$5.25 Million Microfinance Investment Partnership with ACCIONSep 22, 2006 — By Helen MarshallAmerican International Group (AIG) has announced a $5.25 million, three-year partnership with Accion International to improve access to financial services for those facing poverty in emerging markets. Download CSRwire: TIAA-CREF Creates $100 Million Global Microfinance Investment ProgramSep 19, 2006 — Published by: CSRwireTIAA-CREF, the leading provider of retirement savings products and services in the academic, medical and cultural fields, today announced the creation of a $100 million Global Microfinance Investment Program (GMIP) to invest in selected Microfinance Institutions (MFI’s) worldwide. Download New York Times: Microloans May Work, but There Is Dispute in India Over Who Will Make ThemAug 10, 2006 — By Tyler CowenThe Indian political authorities must decide whether they will allow microfinance to spread, even when commercialization competes with a state interest. Download Economic View: Fighting Poverty with $2-a-Day JobsJul 16, 2006 — By Daniel GrossThe best thing venture philanthropy can do is to create competition for the labor and business of the poor. Download Financial News Online: Philanthropy is the new asset classJun 26, 2006 — By David BainMany wealthy investors are starting to believe philanthropy is important in the 21st century and that more of their money and time needs to be dedicated to it. Returns will become measured not only in terms of dollars and cents but the level of satisfaction which can be achieved by “doing the right thing.” Download Wall Street Journal: Entrepreneur Gets Big Banks To Back Very Small LoansMay 15, 2006 — By Eric BellmanMicrolending-for-profit effort in India draws business from Citigroup and HSBC. Download The Chronicle of Philanthropy: Gates Foundation to support new causesApr 13, 2006 — By Ian Wilhelm"The foundation plans to provide more money to agricultural projects and to efforts that expand financial services for the poor in Africa and other developing countries, said Patty Stonesifer, the foundation's president." Download FT.com Financial Times: Doing Good and Making a ProfitFeb 13, 2006 — By Deborah BrewsterEveryone from Bill Clinton, Bill Gates, Citigroup and the pop star Bono have hopped on to the microfinance bandwagon. The United Nations did its bit by declaring 2005 the Year of Microcredit. Download Financial Times: Making a Little Go A Long WayFeb 13, 2006 — By Richard LapperEven the wealthiest are jumping on the bandwagon of microfinance — the business of making tiny loans to entrepreneurs in developing countries. Download Wall Street Journal: A New Way to Do WellJan 6, 2006 — By Rachel Emma SilvermanMaking tiny loans to poor entrepreneurs in developing countries has long been a popular charitable cause, but it is now gaining traction as an investment. Download Dow Jones Newswires: Funds Flock to India in Effort to Tap Robust Loan DemandNov 16, 2005 — By Abhrajit GangopdhyayAttracted by high repayment rates and the return on investment, microfinance funds are flocking to India, where demand from low-income groups for credit, insurance and other financial products is ballooning. Download BusinessWeek Online: Tiny Investments, Big ChangesNov 4, 2005 — By Robert HofeBay founder Pierre Omidyar and his wife are donating $100 million to create a microfinancing fund to help Third World entrepreneurs Download The Economist Print Edition: The Hidden Wealth of the PoorNov 3, 2005 — By Tom EastonFinancial services are at last spreading from the rich to the developing world and even making money. Download BusinessWeek Online: Micro Loans, Solid ReturnsMay 9, 2005 — By Eric UhlfelderMicrofinance loans lift poor entreprenuers and benefit investors. Download |
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