Originally published: May 14, 2008
Source: CSR wire
The MasterCard Foundation has launched its Scholars Program by awarding grants totaling US$600,000 to six leading microfinance training institutes. The program will fund 200 scholarships for staff working in microfinance in Africa, Asia, Eastern Europe, Latin America and the Middle East to participate in management and professional development courses.
According to a recent study by the Center for the Study of Financial Innovation, the greatest risk facing the microfinance sector is the uneven quality of management and limited staff capacity. Strong leadership and staff capacity is critical as the sector rapidly expands and faces new demands for services. The Scholars Program will help meet this need by extending educational and training opportunities to microfinance staff at the regional and local levels.
The six organizations receiving US$100,000 grants include:
- Boulder Institute of Microfinance;
- Frankfurt School of Finance and Management;
- Harvard Business School & ACCION Program on Strategic Leadership for Microfinance;
- Microfinance Centre;
- Microfinance Management Institute (MFMI);
- School of Applied Microfinance.