Archive for the ‘Aid’ Category

Microfinance Focus, Aug. 14, 2009: The inaugural African Diaspora Marketplace (ADM) call for proposals has exceeded expectations by collecting 733 business proposals, said a press release. The ADM is a business entrepreneurship program fostering economic development ideas from U.S.-based African diaspora to create plans for sustainable start-up and established businesses in 19 countries in Sub-Saharan Africa. A collaboration between Western Union and the United States Agency for International Development (USAID), the ADM aims to leverage the know-how and commitment of diaspora communities to help address poverty and unemployment issues in the region. Full story

Microfinance Focus, Aug. 14, 2009: Kayako, vendor of help desk software, CRM and live chat software solutions has announced the immediate availability of free, perpetual and unlimited licence for their help desk solutions for charitable institutions and open-source software projects. Established in 2001 and now with more than 30,000 customers including the likes of FedEx, John Deere and ICANN, Kayako has help desk and live chat software solutions. Full story

Microfinance Focus, Aug. 11, 2009: Australia and the United Nations Development Programme (UNDP) have joined the efforts of the government of Nauru to develop a project to reduce unemployment, promote production and marketing of local goods, improve food security and reduce dependence on costly imported goods in Nauru. The Nauru Entrepreneurship Development Project, made possible through funding under bilateral arrangements ... Full story

Microfinance Focus, Aug. 10, 2009:  The U.S. Agency for International Development (USAID) has given a $49.4 million grant to global humanitarian agency World Vision for health and livelihood projects in Zambézia Province, Mozambique. World Vision will lead a consortium of local and international partners in a five-year program that will integrate work in health, water, sanitation and agriculture to meet the needs of children, women, and families. Named "Ogumaniha," or "united for a common purpose" in the local Chuabo language, the program will be implemented by a World Vision-led consortium with other partners including Adventist Development and Relief Agency, ACDI/VOCA, International Relief and Development, Johns Hopkins University, Red Cross Mozambique and Vanderbilt University. Full story

Microfinance Focus, Aug. 7, 2009: U.S. Senators Bob Menendez and Mel Martinez have introduced the Social Investment and Economic Development for the Americas Act of 2010 in the House to provide $1.3 billion in assistance to Latin America and the Caribbean meant for micofinance, public-private partnerships and capacity building for trade promotion. The bill seeks to create a fund for microfinance sector called the Microfinance Growth Fund for the Americas (MGFA) to provide countries in Latin America and the Caribbean with stable, medium-term and long-term sources of finance to microfinance institutions. Full story

Microfinance Focus, July 30, 2009: The Asian Development Bank (ADB) will provide the six member-countries of the Coral Triangle Initiative (CTI) a $2.3-million technical assistance to strengthen coastal and marine ecosystems management. Full story

By Naagesh, N. Microfinance Focus, July 27, 2009: The Australian government has agreed to provide A$21.5 million grant for the Carbon Capture and Storage Fund of the Asian Development Bank (ADB). The fund will support geo-environmental studies into carbon dioxide storage sites, capacity building, and community awareness programs to accelerate carbon capture and storage projects ... Full story

Microfinance Focus, July 24, 2009: The Italian government will soon finalise two contributions to the regions bordering Afghanistan by offering micro-finance facilities of 40 million Euros and vocational training worth 20 million Euros. This was revealed at the signing of an agreement providing $100 million to Pakistan under the Debt for Development Swap Agreement on Friday. Under the debt swap, the amount will be used to finance ... Full story

Microfinance Focus, July 24, 2009: The Asian Development Bank's board of directors has recently discussed ADB's India Country Partnership Strategy for 2009-2012, said the bank in a press release on Friday. The strategy paper available on the bank's website focuses on infrastructure development in poorer states of India and helping the private sector’s participation in infrastructure development, including public–private partnerships (PPPs). It said the government’s continued emphasis on infrastructure development programs will help to offset some of the slowdown in corporate investment.  "While the Indian economy will slowdown in FY2008 and FY2009, it is nevertheless expected to remain one of the better performing economies in the world under the circumstances," notes the strategy paper. Full story

MicrofinanceFocus, July 24, 2009: Asian Development Bank (ADB) is likely to increase its annual aid to Bangladesh to an average of $800 million a year in the next three years, up from $600 million a year during 2006-2008, said ADB President Haruhiko Kuroda who is on a two-day visit to Bangladesh. Full story

MicrofinanceFocus, July 24, 2009: Asian Development Bank (ADB) Vice-President Xiaoyu Zhao, on a two day visit to Armenia, has discussed about the Expenditure Support Program (APESP), an $80 million emergency assistance loan approved by ADB's Board of Directors earlier this month. Mr Zhao had held talks with President Serzh Sargsyan, Prime Minister Tigran Sargsyan, Minister of Economy Nerces Yeritzyan, and Minister of Transport and Communication ... Full story

MicrofinanceFocus, July 23, 2009: The World Bank has signed two credit agreements providing US$ 100 million for the  Second Madhya Pradesh District Poverty Initiatives Project (MPDPIP-II) and US$ 197 million for the Uttar Pradesh Sodic Lands Reclamation III Project (UPSLRP III). The agreements were signed on Monday by Rachid Benmessaoud, Acting Country Director of World Bank in India and indian government officials. Together, the projects are expected to benefit 650,000 rural households. The credit from the International Development Association (IDA), the World Bank’s lending arm, carries a 0.75% service fee, a 10-year grace period, and a maturity of 35 years. Full story

MicrofinanceFocus, July 23, 2009: BRAC, a non-profit organisation, is leading a $15 million initiative to rebuild war-torn communities in Sierra Leone and Liberiaon on a long-term sustainable strategy, including microfinance, with support from the Soros Economic Development Fund, Open Society Initiative for West Africa, Omidyar Network and Humanity United, said a statement on Wednesday. The two-year pilot program is being funded through a combination of grants and equity. BRAC is also negotiating to raise additional debt capital to finance the loan portfolio. Full story

MicrofinanceFocus, July 22, 2009: The Islamic Solidarity Fund for Development (ISFD), an affiliate of the Islamic Development Bank (IDB), has approved two microfinance projects, one each in Kyrgyz Republic and Tajikistan worth $15 million, said a statement by the bank. The approval came following the meeting of the board of directors of the ISFD at the IDB headquarters in Jeddah on Tuesday.   The ISFD was established after the Makkah Extraordinary Islamic Summit in 2005. The fund seeks to mobilize resources worth US$ 10 billion to combat poverty in the OIC (Organisation of Islamic Conference) member countries. Following the approval by ISFD, the project in Kyrgyz Republic will get a concessional loan for US$ 5 million to finance micro enterprises through local partners in rural areas. The duration of the loan is 10 years including a grace period of three years. A technical assistance grant of US$ 300,000 shall be provided for the project. Full story