Thursday, May 15, 2008

More Support for Improving the Microfinance Industry

On May 7, 2008, Corporate Social Responsibility Newswire reported that MasterCard Foundation, a nonprofit private company, awarded a three quarter million dollar grant to Microfinance Information Exchange to share information on the financial strength of microfinance institutions.  Here is an excerpt from the article:

The grant underscores the MasterCard Foundation's commitment to building the capacity of the microfinance sector, which provides financial services to low-income populations in developing countries. MIX Market 2.0 will improve the speed, accuracy and usability of the current MIX Market Web platform, which serves more than 25,000 visitors per month. The platform provides annual financial and operating information on more than 1,150 microfinance institutions, as well as profiles of 100 funders that invest in microfinance and almost 200 partners, including evaluators and development programs. However, significant technological improvements are needed to expand and upgrade the platform to support the growing demand for real-time information.

For the entire article, see "MasterCard Foundation Partners with Microfinance Information eXchange to Enhance Transparency of Microfinance Industry," in the May 7, 2008, on-line edition of Corporate Social Responsibility Newswire.


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