Gates Foundation Awards $1.5 Million to Grameen Foundation

From Grameen Foundation, USA

Grameen Foundation, a leading global microfinance organization, today announced it has received a $1.5 million grant from the Bill and Melinda Gates Foundation to support its work worldwide. The three-year grant will support Grameen Foundation’s strategic plan to reach five million additional new families, ensure that 50 percent of them permanently escape poverty within five years of becoming a microfinance client, and champion innovations that transform the microfinance industry. The unrestricted grant is GF’s third largest grant in support of this five-year plan launched in 2004.