USAID, Grameen Foundation Support Microfinance in Developing World

The U.S. Agency for International Development and Grameen Foundation have started a

to provide up to USD162.5 million to microfinance institutions in developing countries. The money will be placed under USAID's Development Credit Authority and managed by Grameen Foundation, which will also be responsible for screening microfinance institutions that would request for funding.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.