Unitus to Receive $9 Million Grant From Omidyar Network

April 23, 2008 Posted by Press Release, Unitus Labs

Omidyar Network and Unitus to Help Millions of the Working Poor Participate in the Global Economy

$9 Million Grant is Omidyar’s Largest in Microfinance to Date

San Francisco, CA and Seattle, WA, April 23, 2008 – Omidyar Network and Unitus are pleased to announce plans to dramatically expand the worldwide availability of financial services to the poor. Omidyar Network, a philanthropic investment firm established by Pierre and Pam Omidyar, will invest $9 million in Unitus. This will represent Omidyar Network’s largest grant in microfinance to date. Unitus, an international nonprofit organization dedicated to accelerating access to microfinance, will use this support to increase its network of microfinance partners and expand into several new regions over the next three years. This expansion will enable Unitus microfinance institution (MFI) partners to grow rapidly, strengthen their businesses, and reach millions of individuals currently excluded from the formal economic system with life-changing financial services.

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