ADB launches $250 mil­lion mi­cro­fi­nance risk pro­gramme

The Pak Banker - - Company & Boss News -

MANILA: The Asian Devel­op­ment Bank (ADB), an in­ter­na­tional devel­op­ment or­ga­ni­za­tion based in Manila, Philip­pines, ap­proved a Mi­cro­fi­nance Risk Par­tic­i­pa­tion Pro­gram to in­crease mi­cro­fi­nance lend­ing in its mem­ber de­vel­op­ing coun­tries in­clud­ing Bangladesh, In­done­sia, Sri Lanka, Thai­land and Viet­nam.

The pro­gram will al­low ADB to part­ner with fi­nan­cial in­sti­tu­tions that lend to mi­cro­fi­nance in­sti­tu­tions (MFIs) by shar­ing the de­fault risk of the loans that are made to the MFIs. ADB will ac­cept up to fifty per­cent of the de­fault risk of each loan, with the to­tal ex­po­sure not ex­ceed­ing USD 250 mil­lion. Ac­cord­ing to ADB, the Asian mi­cro­fi­nance in­dus­try had an es­ti­mated 47 mil­lion bor­row­ers at the end of 2008 with loans to­tal­ing over USD 10 bil­lion. ADB re­ported a to­tal cap­i­tal­iza­tion of USD 56 bil­lion as of De­cem­ber 31, 2009. - PB News

IS­TAN­BUL: For­eign Min­is­ter Shah Makhdoom Qureshi along with For­eign Min­is­ters of ECO mem­ber coun­tries ar­rives at the venue of 19th Coun­cil of Min­is­ters Meet­ing. -App

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