Gates Foundation Awards $1.5 Million to Grameen Foundation
Grameen Foundation USA, August 29, 2006
Grameen Foundation, a leading global microfinance organization, today announced it has received a $1.5 million grant from the Bill and Melinda Gates Foundation to support its work worldwide. The three-year grant will support Grameen Foundation’s strategic plan to reach five million additional new families, ensure that 50 percent of them permanently escape poverty within five years of becoming a microfinance client, and champion innovations that transform the microfinance industry. The unrestricted grant is GF’s third largest grant in support of this five-year plan launched in 2004.
“The Gates Foundation is proud to partner with Grameen Foundation,” said Sylvia Mathews, president of the Global Development Program at the Gates Foundation. “Time and again, Grameen has proven that they are an effective leader in generating awareness around the importance of financial services for the poor and identifying innovative solutions to help more families move permanently out of poverty. We are pleased to support their strategic plan with this grant.”
>> View Article | created on: 09/08/2006
