The Grameen Foundation recently announced that it is expanding its technology for microfinance initiative, Mifos Platform, and Progress out of Poverty Index (PPI) from $1.23 million of funding from the Mastercard Foundation and $500,000 from Cisco.  The donation from the Mastercard foundation will help form the Mifos Consortium which will help develop a benchmark  for successful technology that is part of Grameen’s 10 year plan of reaching 100 million new people in unserved regions. Cisco’s grant of nearly $500k will enable Grameen Foundation to integrate cost-effective avenues into Mifos, and bridge the gap between microfinance supply and demand which will help drive transformative increases in scale, innovation, sustainability, and social impact of MFIs around the world.
Read the full press release at Grameen