MFTransparency gets $25,000 Grant from Citi

Microfinance Focus, Oct. 30, 2009 – MicroFinance Transparency (MFTransparency), championing transparent pricing in the microfinance industry, has been given $25,000 grant by the Citi Foundation.

MFTransparency collects data on the interest and fees charged on each microfinance loan product in order to calculate the accurate, true price (Effective Interest Rate) on those loans. MFTransparency then posts that data along with educational materials for the public on its website (www.mftransparency.org).

The Citi Foundation has actively supported microfinance over the last two decades. In the last decade, it granted over $70 million in support of 350 microfinance programs in 57 countries.

MFTransparency plans to use the grant to increase its industry presence and visibility. In the long term, the group seeks to cover 5,000 MFI’s in over 75 countries.

© 2009, Microfinance News. All rights reserved. 2008-09