Close
Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Bill & Melinda Gates Foundation Buy a Bali Bank
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Bill & Melinda Gates Foundation Buy a Bali Bank

New 'Bank of Banks' Targets to Help 45 Million Escape Poverty.


Bali News: Bill & Melinda Gates Foundation Buy a Bali Bank
Click Image to Enlarge

(6/23/2008)

The Oregonian reports that the Bill & Melinda Gates Foundation has provided US$19.4 million in funding towards the US$33 million purchase of an ailing Bali bank by the Portland-based Mercy Corps.A nonprofit foundation, Mercy Corps will acquire Sri Partha Banks and its operating licenses to establish an institution specializing in micro-finance programs to assist small entrepreneurs, typically unable to access loan money from other sources.

Provisionally renamed as the Bank of Banks (BoB), the acquisition and start-up funding will come from the Bill & Melinda Gates Foundation, the World Bank and Dutch sources. The new bank will strive to move away from the "hand-out" format of assistance to the poor to a more sustainable institutional format that can offer micro loans and savings accounts, provide insurance, mortgage finance, remittance services and mobile banking.

Aiming to eventually serve 16 million Indonesians by 2011, BoB is said to be seeking to serve their clients via cell phones, ATMs and the Internet. Observers laud the project, saying that the model can be quickly expanded to other countries in the region and is capable of permanently lifting 45 million people out of poverty over the next decade.

"Bank of Banks is expected to revolutionize the way microfinance works in Indonesia and beyond," said Neal Keny-Guyer, chief executive of Mercy Corps.

PT Bank Sri Partha has two dozen branch offices. The new owners plan to move the headquarters to Jakarta.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Dry Brollies in Bali
Bali Weather Forecasters Predict Delayed Rains to Finally Fall in November
(10/27/2014)
In Bali Exquisite Music is Child's Play
Twice Weekly Performance of Ancient Balinese Music in Sanur Through February 1, 2015
(10/27/2014)
More is Less
More Warnings About the Disastrous Effects of Uncontrolled Growth in Bali Accommodation Sector
(10/27/2014)
Nusa Penida Conservation Fees to Increase
Klungkung Regency Plans to Increase Entrance Fees for Day Visitors to Nusa Penida by 1,070%
(10/27/2014)
A Failure to Deliver
CEO of Hotel Bali Kuta Residence Facing Trial for Fraudulent Property Deal
(10/27/2014)
Surf's Up
56-Year-Old Australian Dies While Surfing on Kuta Beach
(10/27/2014)
Keeping the Welcome Balinese
Deputy Governor Calls for More Balinese Signage at Airport and Other Key Locations
(10/27/2014)
This Place is for the Birds
Bali Bird Park Celebrates 19 Years of Operations with Special Offers and New Bird Exhibits
(10/27/2014)
Donít Look Now!
Baliís Iconic Panorama at Kintamani Vanishing Behind Illegal Buildings
(10/27/2014)
Baliís Flushed Away Success
3 of 4 Baliís Lakes Now Badly Polluted; Failure to Act Threatens Baliís Supply of Drinking Water
(10/27/2014)
Seeking Permission to Land
Malaysian Airline Flight Makes Emergency Diversion to Bali When Passenger Goes into Labor
(10/27/2014)
Murder at Bali Emerald Villas in Sanur, Bali
Long-Time Bali Resident Bob Ellis Murdered in What Police Believe was Murder-for-Hire Scheme Orchestrated by His Wife, Noor Ellis
(10/24/2014)
All [News]!