Posted on November 18, 2008 - by James

GLOBAL PARTNERSHIPS CLOSES $20 MILLION MICROFINANCE FUND

SEATTLE, Wash., USA (November 17, 2008) – In the face of growing need for capital worldwide, a $20 million microfinance investment fund was closed by Global Partnerships (GP), a Seattle-based nonprofit organization, that will significantly increase access to microcredit for people living in poverty in Latin America.

GP’s Microfinance Fund 2008 (MFF 2008) combines philanthropic donations with socially motivated capital to invest in the expanded reach of high-performing microfinance institutions (MFIs) committed to providing financial and social services to more people in poverty, including women and the rural poor. In combination with previous funds, MFF 2008 will expand the organization’s support to more than 30 partners in eight countries, reaching nearly 1 million people and impacting 5 million lives… [click here to read the rest of this article...]