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Grameen Foundation News Release

A very big news from Grameen Foundation, a global non profit organization that supports world’s poorest people through financing and technology strategies for the local associations and new micro-business opportunities. At the end of August, it has supported the first note for poverty-focused microfinance institution in Southeast and East Asia, guaranteeing $5 million for the $10.4 million transaction issued by the Center for Agricultural and Rural Development, Inc. (CARD) of the Philippines. CARD, the outstanding micro-finance institution (MFI) that leads the micro-finance industry in the Philippines, has subscribed the first five-year note ever done by a MFI in Southeast and East Asia. Oversubscribed by six local Filipino institutional investors, it’s a great step in attracting capital markets to MFIs in the Philippines and – it sends a strong message about investor confidence in quality MFIs – as said by Alex Counts, President of Grameen Foundation.

Source: http://www.grameenfoundation.org/resource_center/newsroom/news_releases/~story=417

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