Citi Foundation Creates $11.2m Program with SEEP Network to Strengthen Trade Associations
Citi Foundation Creates $11.2m Program with SEEP Network to Strengthen Trade Associations
The 12 participating trade associations represent roughly 60 countries, 1,300 microfinance organization members and microfinance institutions (MFIs), and 19 million clients. Of these 12 trade associations, 7 are already members of the SEEP Network. The trade associations by region are as follows:
* Asia Pacific: Banking With the Poor Network, China Association for Microfinance, Microfinance Council of the Philippines, India’s Sa-Dhan, and Pakistan Microfinance Network
* Africa: Association of Microfinance Institutions in Uganda
* Americas: Mexico’s ProDesarrollo, Ecuador’s Red Financiera Rural, and Central America’s REDCAMIF
* Europe: Microfinance Centre for Central & Eastern Europe & New Independent States, and Russian Microfinance Center
* Middle East: Sanabel
The SEEP Network is an international organization with the goal of connecting microenterprise practitioners via a global learning community. The group focuses on developing best practice standards in enterprise development and financial services. It consists of 67 members in over 140 countries, reaching over 23 million clients.
The Citi Foundation is the grant-making arm of international financial conglomerate Citigroup and focuses its grants on microfinance and microentrepreneurship. The Citi Foundation has contributed nearly USD 60 million in funding for 250 MFIs, trade associations, and microenterprise programs in 55 countries. Citigroup also has Citi Microfinance, a business unit focused on commercial activities and introducing new products to MFIs. Citi Microfinance has worked with over 70 MFIs in over 35 countries in Asia, Latin America, Africa, Eastern Europe, and the Middle East.
Citi Foundation Creates $112m Program with SEEP Network to Strengthen Trade Associations - To learn more about this author, visit David Satterthwaite's Website.
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The Citi Network Strengthening Program will attempt to achieve these goals by doing comprehensive assessments of the trade associations’ capacity to meet its members’ needs. In addition, it will conduct in-depth reports on the microfinance industry in the respective country or region. Finally, the program will include business, strategic, and implementation plans that may consist of new technologies, advocating interest rate liberalization, establishing rating agencies, creating local debt and equity ratings funds, and developing links between the commercial and microfinance sectors.
The 12 participating trade associations represent roughly 60 countries, 1,300 microfinance organization members and microfinance institutions (MFIs), and 19 million clients. Of these 12 trade associations, 7 are already members of the SEEP Network. The trade associations by region are as follows:
* Asia Pacific: Banking With the Poor Network, China Association for Microfinance, Microfinance Council of the Philippines, India’s Sa-Dhan, and Pakistan Microfinance Network
* Africa: Association of Microfinance Institutions in Uganda
* Americas: Mexico’s ProDesarrollo, Ecuador’s Red Financiera Rural, and Central America’s REDCAMIF
* Europe: Microfinance Centre for Central & Eastern Europe & New Independent States, and Russian Microfinance Center
* Middle East: Sanabel
The SEEP Network is an international organization with the goal of connecting microenterprise practitioners via a global learning community. The group focuses on developing best practice standards in enterprise development and financial services. It consists of 67 members in over 140 countries, reaching over 23 million clients.
The Citi Foundation is the grant-making arm of international financial conglomerate Citigroup and focuses its grants on microfinance and microentrepreneurship. The Citi Foundation has contributed nearly USD 60 million in funding for 250 MFIs, trade associations, and microenterprise programs in 55 countries. Citigroup also has Citi Microfinance, a business unit focused on commercial activities and introducing new products to MFIs. Citi Microfinance has worked with over 70 MFIs in over 35 countries in Asia, Latin America, Africa, Eastern Europe, and the Middle East.
Citi Foundation Creates $112m Program with SEEP Network to Strengthen Trade Associations - To learn more about this author, visit David Satterthwaite's Website.
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