BANGALORE: Inflation is not necessarily a bad word. So it seems for the micro-credit industry if its growth trajectory and first quarter credit offtake are benchmarks. A cluster of large and mature micro-finance entities, many of whom are NBFCs with private equity funding, appear set for over 100% growths this fiscal as inflationary trends have triggered higher working capital needs for micro loanees.

Gradatim IT Ventures, one of the leading players in the Micro-Finance industry, announced the launch of MF-Insure, an on-demand micro-insurance technology platform which combines IT Infrastructure and Back Office Services, and delivered as a Business Process Utility (BPU) on a ‘Pay-Per-Use’ Pricing Model. This platform is all set to redefine the micro banking and micro-insurance segment in the country. MF-Insure is proficient in handling products for all lines of insurance business – Life, more...

Grameen Foundation today announced its inaugural Village Phone Grant Competition which will provide $10,000 each to up to two organizations to launch Village Phone programs. The competition is open to microfinance institutions and other non-profit organizations and is being run through Grameen Foundation’s Village Phone Assistance Center website, www.villagephonedirect.org. In addition to the $10,000 grant, the recipients will also receive technical assistance from the Grameen Foundation Vil more...

Morgan Stanley has announced the formation of the Morgan Stanley Microfinance Institutions Group (MFIG), the first time that an investment bank has established a group dedicated to serving microfinance institutions (MFIs). The group will provide a wide range of investment banking services to MFIs, networks and other market participants. The services will range from debt and equity capital to corporate advice, risk management, foreign exchange and derivative products. It will also structure and d more...

A Rangoon-based non-government organization, Myanmar Business Executive Group (MBEG), has announced a 50-million-kyat (more than US $40,000) microfinance scheme to help victims of Cyclone Nargis in the western outskirts of Rangoon and the Irrawaddy delta.

Pro Mujer International and Grameen Foundation announced a US$1.2 million loan for Pro Mujer Peru that will expand new opportunities for poor Peruvian women in need of credit. The financing from Banco de Crédito del Perú was facilitated through a US$400,000 co-guarantee split evenly between Grameen Foundation’s Growth Guarantees Program and Pro Mujer International. It is the highest leverage yet achieved on financing provided by a Peruvian commercial bank to an MFI, and is a clear indicati more...

Rita Foley, Chairman of the Board of Pro Mujer International, a leading microfinance and women’s development network, announced the appointment of Rosario Perez as the new Chief Executive Officer of the organization effective June 23, 2008. Ms. Perez, who is currently a member of the Pro Mujer Board of Directors, succeeds Ben Moyer, the interim CEO, who will be returning to the Board as a Director.

“Since September 2006, Rosario has served as a member of the Board of Pro Mujer where she more...

DFID, the UK Department for International Development, launched its new five year research strategy this week. It outlines how DFID will double its investment in research to £220 million a year by 2010 and put research at the heart of its efforts to tackle global poverty.
Over the coming months, DFID will publish a business plan which will include information on the timetable for calls for proposals and what procedures should be followed.

Full details will be available on the DFID website more...

Grameen Foundation has announced its first Growth Guarantee placement in East Africa which has mobilized US$5.3 million for Amhara Credit and Savings Institution (ACSI). Recognized by Forbes magazine as one of the top ten microfinance institutions (MFIs) globally, ACSI is the largest MFI in Ethiopia and one of the largest in sub-Saharan Africa. The financing from the Commercial Bank of Ethiopia, the leading local commercial bank, was facilitated by a $2.5 million guarantee from Grameen Foundatio more...

Swisscontact is in the stage of preparing a bid for the DFID Financial Education Fund in a consortium with other partners. In case the project is awarded to the consortium, Swisscontact is looking for a Regional Manager for the fund management. The Financial Education Fund will be managed at international level by a Central Management Unit. The Regional Manager will be supporting the Central Management Unit at regional level. He/she will be heading a team of Country Managers of selected African more...