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Financial Services for the Poor

Press Releases

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NOVEMBER 16, 2010

Yale Receives Foundation Grant for Microfinance Research Initiative | Bill & Melinda Gates Foundation

NEW HAVEN, Conn.--Yale University has received a $7.3 million grant from the Bill & Melinda Gates Foundation to create the Microsavings & Payments Innovation Initiative (MPII), a research effort designed to understand and communicate the development potential of microsavings and money transfer services for the world’s poor and those without access to a formal bank account, and research better ways of delivering these services.

JUNE 07, 2010

RPA Launches Innovative Program to Help the World’s Poor Gain Access to Safe Ways to Save Money | Bill & Melinda Gates Foundation

NEW YORK -- To help the millions of poor people worldwide who lack a safe way to save money, Rockefeller Philanthropy Advisors has launched a novel initiative that will work with regulated financial institutions in five countries to create savings accounts that are appropriate and affordable for poor families and profitable for banks over the long term. The three-year program, called Gateway Financial Innovations for Savings (GAFIS), is funded by a $9.5 million grant from the Bill & Melinda Gates Foundation.

MAY 25, 2010

GSMA Announces Seven New Grant Recipients from the Mobile Money for the Unbanked Programme | Bill & Melinda Gates Foundation

“Just 15 months after we first announced the launch of the Mobile Money for the Unbanked Programme we are proud to announce that all funds have been committed in support of mobile money deployments across the globe,” said Gavin Krugel, Director GSMA. “Projects were chosen on their ability to deliver, speed of delivery, scale and sophistication. Between now and the end of 2011 millions of consumers are expected to directly benefit from mobile money services launched with the support of the Fund – that is 170 million customers at the base of the economic pyramid and who previously lacked access to financial services, from 19 operators in Latin America, Africa, and Asia.”

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