Grameen Foundation : Resource Center : Print Newsletter : Fall 2005 : India Partners Grow Outreach Exponentially
India Partners Reach More Poor Families
Reach to poor families expands 50% in first half of 2005.
In India, our partners SKS, Share, ASA, Cashpor and Grameen Koota continue making strong gains against poverty with the help of GFUSA investment. Over the past five years, our financial and technical support helped these MFIs expand their reach from 49,000 in March 2000 to nearly 860,000 of the poorest households in India as of June 2005.GFUSA is in the process of deploying more than $1 million in guarantees in 2005 that will help our partners obtain loans from commercial banks, including three separate guarantees for our partner SKS that will assist it to benefit approximately 75,000 additional poor families. Besides financial support, our partners’ capacity is growing with exposure visits arranged by GFUSA. For example, ASA learned about a poverty targeting tool by visiting our partner CARD, in the Philippines. GFUSA is expanding its range of financing options to its MFI partners by finalizing its first equity investment in a microfinance institution. Equity is the most difficult type of capital for our partners to raise. GFUSA’s investment helps fill that gap and is a vote of confidence in our MFI partners’ sustainability.
Learn more about our work in India.
Grameen Foundation : Resource Center : Print Newsletter : Fall 2005 : India Partners Grow Outreach Exponentially
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
You can help