Grameen Foundation : Resource Center : Print Newsletter : Fall 2006 : Gates Foundation Awards $1.5 Million
Gates Foundation Awards $1.5 Million In Support Of Strategic Plan
Grameen Foundation received a great boost towards its strategic plan to scale up microfinance globally with a $1.5 million grant in support of its mission from the Bill & Melinda Gates Foundation.
The grant will help to ensure that Grameen Foundation reaches five million new borrowers by the end of 2008, that half of these individuals cross the poverty line, and that Grameen Foundation champions three industry advancing innovations.
In April 2006, The Bill & Melinda Gates Foundation announced that expanding financial services to the poor would become a grant making priority. A total of nine grants have been awarded in this sector since November 2005, each aimed at improving models for delivering high-impact financial services to the poor globally.
“Grameen Foundation is delighted to embark on this partnership with one of the largest and most respected foundations in the world,” said Nancy Nelson, Vice President of Development.
Grameen Foundation : Resource Center : Print Newsletter : Fall 2006 : Gates Foundation Awards $1.5 Million
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
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