microfinance has become a buzzword of the decade, raising the provocative notion that even philanthropy aimed at alleviating poverty can be profitable to institutional and individual investors.
New York, NY (PRWEB) January 17, 2008
Pro Mujer in Peru, a microfinance institution in the Pro Mujer organization, was named in Forbes' first-ever list of the World's Top 50 Microfinance Institutions.
The World's Top 50 Microfinance Institutions were chosen from a list of 641 organizations prepared by the Microfinance Information Exchange (http://www.themix.org), the leading business information provider for the microfinance industry, under the direction of Forbes magazine. (Pro Mujer in Peru's name appears in the MIX's database as Programas para la Mujer - Peru.) To qualify, the institutions made available their audited financial statements and passed review by a Forbes panel of advisers.
According to Forbes, "microfinance has become a buzzword of the decade, raising the provocative notion that even philanthropy aimed at alleviating poverty can be profitable to institutional and individual investors."
Pro Mujer in Peru's mission is to serve poor women entrepreneurs; nearly one-third of its clients live on less than US $1 a day. "Making the Forbes first-ever list of the World's Top 50 Microfinance Lenders is an exceptional acknowledgment that Pro Mujer in Peru has successfully combined financial services with business training and healthcare to serve the poorest women entrepreneurs," said Naldi Delgado, director of Pro Mujer in Peru.
Pro Mujer in Peru was honored with the 2007 Award for Excellence in Microfinance from the Inter-American Development Bank (IDB) in recognition of its efforts to reach women in rural areas and the high quality of its loan portfolio.
Founded in 1999, Pro Mujer in Peru offers a wide range of services to women entrepreneurs, including several types of loans, access to saving accounts, business training, and healthcare through alliances with local clinics and hospitals. The institution also provides counseling and other care for women and families dealing with alcoholism and domestic violence.
About Pro Mujer
Pro Mujer offers financial services, business training and healthcare to poor women in Latin America, helping them and their families achieve economic security and improved health. Pro Mujer has presence in Argentina, Bolivia, Mexico, Nicaragua and Peru. Since its inception in 1990, the organization has disbursed more than US$327 million in small loans averaging approximately US$189 and has served more than one million women and their families. Clients have saved US$12 million, providing a financial buffer for their families in times of crises.
Pro Mujer is a 501(c)(3) tax-exempt organization. More information is available on the website, http://www.promujer.org