Opportunity International and The MasterCard Foundation plan to help 7 million out of poverty with $22.7 million partnership, reports Forbes.
Opportunity International is a non-profit microfinance organization established in 1971. Over the last 42 years OI has provided $6 billion in microfinance loans and has reached over 5 million clients in 22 countries. In 2009, The MasterCard MA -0.42% Foundation and the Bill & Melinda Gates Foundation partnered with OI and co-funded a $16 million project to expand access to saving accounts and agricultural loans in Sub-Saharan Africa.
Today, OI and The MasterCard Foundation plan to enter phase two of this partnership as they announce a $22.7 million expansion in funding, The Africa Growth and Innovations Initiative….