8/29/08: At ACCION, we know that microfinance has the power to fight poverty on a truly global scale. We are proud to announce that ACCION partner Compartamos (Mexico) has reached 1 million clients with life-changing financial services—a testament to the claim that guides our work. Mr. Fernando Alvarez Toca, CFO of Compartamos, reminds us that “This figure is not just a number. Behind each one of these loans is a person.” One million people now have hope for their future, giving us one million reasons to stand up for microfinance. Click here to read the press release  8/19/08: Citi and ACCION Texas: A major step for domestic microfinance: Citigroup and ACCION Texas have announced that Citi will purchase up to $30 million in new loans from ACCION Texas, heralding a watershed for domestic microlending. For the press release, please go here; for press coverage, please go here and here. The U.S. ACCION Network, comprised of ACCION USA and its five licensees – ACCION Chicago, ACCION New Mexico, ACCION New York, ACCION San Diego and ACCION Texas – is the largest microlending network in the United States. Since inception, it has disbursed over $214 million to low- and moderate-income clients. 8/19/08:"Microfinance must embrace the free market" according to The Economic Times online edition this week. Author Philip Vassiliou provides a thorough yet succinct overview of the industry's transition to the private sector. Click here for the full article
 
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