Obama Announces Microfinance Growth Fund
April 19, 2009 1 Comment
AP Photo
During his opening remarks at the Summit of the Americas, President Obama announced a new Microfinance Growth Fund for the Western Hemisphere. Unfortunately, I have been unable to find any more information about the project, so please comment if you have more details. Update: (Adnan (jolkona.org) found a Reuters article with more details.) $100 million will be administered by the Multilateral Investment Fund of the Inter-American Development Bank, the U.S. Overseas Private Investment Corporation and the Inter-American Investment Corporation.
President Obama’s full remarks can be read, here.
News and Commentary
The White House has released a fairly comprehensive statement outlining the particulars of the Fund:
http://www.whitehouse.gov/the_press_office/New-100-Million-Microfinance-Growth-Fund-for-the-Western-Hemisphere/