Mercy Corps Launches Innovative Microfinance Program to Help Millions of People in Indonesia
PORTLAND, Ore. -- The global relief and development agency Mercy Corps today announced an innovative approach to poverty reduction in Indonesia and the Philippines that will support the growth of the microfinance sector. The project includes the creation of a commercial bank, which will operate as a "bank of banks," to partner with thousands of microfinance institutions (MFIs) and expand access to financial services for Indonesia's poor. These services—offered using innovative platforms like mobile phones—will give the poor access to savings, loans, insurance and other resources to help build financial security.
To read the full press release, visit the Mercy Corps Web site.