Grameen Foundation teams up with USAID

The US Agency for International Development ( USAID) and Grameen
Foundation announced a new private-public partnership to support
local currency financing to micro-finance institutions ( MFIs)
throughout the developing world, says a press release. Alonzo
Fulgham, acting administrator of USAID, and Alex Counts, chief
executive officer and president of Grameen Foundation, signed a
memorandum of understanding recently to formalise the collaboration.
The $162.5 million joint guarantee agreement will help MFIs around
the world gain greater access to financing and address some of the
effects of tightening credit markets.