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Mar152011
Press release - December 19, 2008
Tuesday, March 15, 2011 at 1:05PM BRAC Africa Loan Fund Launched to Combat Poverty in East Africa
Dhaka, Bangladesh and Chicago, Illinois – December 19, 2008-BRAC, a leading international development organization founded in Bangladesh announced that it has successfully raised $62.6 million of debt capital to provide microfinance loans to poor borrowers in Tanzania, Uganda and Southern Sudan. The BRAC Africa Loan Fund provides long-term, local-currency funding that will enable BRAC to scale up its microfinance operations to reach over 700,000 borrowers through over 200 branches across the three countries. The Fund represents the largest single financing to date of a southern hemisphere development organization expanding into Africa. Click here to read more.
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