1998 GRANTS MAIN INDEX • GRANTS & FINANCES

Poverty Alleviation

The Wallace Global Fund supports efforts to address how financial markets and public and private development institutions can more adequately address both equity concerns and the reduction of poverty via microfinance. Through support for policy work - with a focus on regulatory reform and the increased involvement of commercial banks - the Fund is supporting selected efforts in the microenterprise field.

ACCION International - $150,000 over two years

Support for Supervision and Regulation of Microfinance Institutions, in which ACCION is addressing the obstacles to effective policymaking on microenterprise, including inadequate information about microenterprise itself; insufficient contact between policymakers and microenterprise institutions; narrowly-focused macroeconomic policymaking which does not take into account any effects on microentrepreneurs; and pressure to deploy resources regardless of performance of the microfinance institution.

Foundation for International Community Assistance (FINCA) - $300,000 over three years

Support for International Policy Development for the Microenterprise Sector, part of an ongoing effort to demonstrate to donor institutions and US and foreign governments that microfinance institutions can grow rapidly, safely, and soundly to meet the vast demand for microfinance from the poor. FINCA seeks to galvanize and mainstream a critical mass of support for microfinance among the major aid agencies, especially those of Europe and Japan, as well as among major international commercial banks and corporations.