Unitus Arranges Joint Microfinance Investment

May 2, 2007 Posted by Press Release, Unitus Labs

Unitus Arranges Joint Microfinance Investment in Indonesia

Collaboration between Unitus, The Dignity Fund and MicroCredit Enterprises allows MBK Ventura to access $1.2 million and impact 60,000 micro-entrepreneurs

Redmond, WA—May 2, 2007— Unitus, Inc., a nonprofit organization delivering innovative solutions to global poverty, announced that it has arranged a $1.2 million loan for MBK Ventura, a Unitus microfinance partner in Indonesia, structured in Indonesian rupiah. Two leading microfinance funds, The Dignity Fund, L.P. and MicroCredit Enterprises, each contributed $600,000, further strengthening the funding arrangement. This announcement comes only three months after Unitus partnered with MBK to provide MBK with capital and strategic consulting to support its long-term growth. With this investment, MBK will require no additional external capital in 2007 and can focus on adding clients and providing crucial financial services to the working poor in Indonesia. MBK’s goal is to provide microcredit loans to more than 60,000 clients by the end of this year.

Read More >

Tags: , , , ,

Related Posts Plugin for WordPress, Blogger...