Microfinance is a term for the practice of providing financial services, such as microcredit, microsavings or microinsurance to poor people. By helping them to accumulate usably large sums of money, this expands their choices and reduces the risks they face. Suggested by the name, most transactions involve small amounts of money, frequently less than US$100.

Silicon Valley company Bloom Energy revealed its heavily hyped and closely guarded solid oxide fuel cell on Wednesday, heralding the technology as a likely clean-tech game-changer. The system is already in use by companies like Google, eBay, FedEx, Staples and Wal-Mart.

MEPs gave the green light for EU funding to help Europe's unemployed start up small businesses. Credit will be made available to budding entrepreneurs through a "microfinance facility" funded partly from the existing Progress programme and partly from unallocated money in the EU budget.

Shah Mohammad Mir is the director of the Helmand Islamic Investment and Finance Corporation (HIIFC), an Islamic credit union, which makes microloans to farmers and other microentrepreneurs. Some farmers that previously grew poppies with Taliban-provided inputs have used loans to buy their own seeds and other supplies to grow wheat and other food crops. To comply with Shariah, Islamic law, loans do not bear interest but instead are repaid with a 2 percent administrative fee. Mr Mir says that the loans, normally for no more than USD 2,000 each, have enabled over 30 people to leave the Taliban. As a result, Mr Mir has received threatening phone calls and had guns fired outside his home. He left town for a short while, but has returned to operate HIIFC’s three branches, which have lent USD 1 million to 1,441 people since late 2007. Regarding the unrest in his country, Mr Mir says: “If we can get rid of the unemployment that should bring security.”

Khula Enterprise Finance (KEF) of South Africa provides funding to financial institutions to be channeled to socially-oriented causes.

"The relief effort is intense right now, and we know that Haiti needs food, water and medicine immediately, but Haiti will also need foundational support for it's economy"

Microfinance leaders from 35 countries have already registered for the Africa-Middle East Regional Microcredit Summit to be held April 7-10, 2010 in Nairobi, Kenya. The Summit will be the largest microfinance gathering ever held in Africa and the Middle East. Her Royal Highness Princess Máxima of The Netherlands, one of the keynote speakers, will join Nobel Peace Prize Laureate Muhammad Yunus, BRAC Chair Fazle Abed, CARE CEO Helene Gayle, and Kenya’s Deputy Prime Minister and Finance Minister Mr. Uhuru Kenyatta at the Summit in Nairobi.

The Board and Management of Savannah Bank are taking bold steps to ensure that the bank opens its doors to customers within the 18 months period given by the Appeal Court, in February this year. The Court of Appeal had on February 5, in the case of Savannah Bank of Nigeria Plc vs Central Bank of Nigeria et al ordered the apex bank to restore the licence of Savannah. The court, however, put a caveat that Savannah Bank had to recapitalise to the tune of N25 billion and meet other regulatory conditions within the specified period, before it could commence operations...

China’s ambitious wind and solar plans represent a direct challenge to Europe’s claims of world leadership on cutting carbon emissions. China is planning a vast increase in its use of wind and solar power over the next ­decade and believes it can match Europe by 2020, producing a fifth of its energy needs from renewable sources.

Founder of an international nonprofit, a speaker before the World Bank, Presidential Scholar, a veteran in microfinance, participant in a discussion with the Dalai Lama — the graduating senior from San Jose's Notre Dame High School has packed more into her slender years than most people do into a lifetime. And she's not yet 18.

The first microfinance project in Oman is to be launched by PlaNet Finance UAE to give financial assistance to entrepreneurs.

The apex regulatory banking institution in the country, Central Bank of Nigeria (CBN) has been in the news in the last couple of days for a joyful reason. The bank has every reason to be in a festive mood, having clocked 50 golden years since its establishment.

The Southern Africa Trust is to present findings from the regional research study on micro-finance and poverty. Commissioned in 2008, the study was to examine the nature of the micro-finance sector and its impact on poverty eradication in the SADC region.

The Anita Borg Institute for Women and Technology (ABI) hosted its fourth annual Women of Vision Awards banquet on April 30th to honor three leaders in technology: The evening highlighted the winners' accomplishments and contributions in three areas: Innovation, Leadership and Social Impact.

The Economist Intelligence Unit has released its latest world innovation rankings, which show China climbing up the ranks faster than other countries. But while the emerging markets are moving up the pecking order, the developed world still hogs the top spots. Japan and Switzerland remain first and second respectively. The report includes innovation predictions for the next five years, and more gains for the emerging world are expected. China, India and South Africa will continue to rise. Even so, Japan, the US and European countries such as Switzerland, Finland, Germany and Sweden are expected to retain their top-ten rankings in 2013.

Clickatell, messaging provider for financial services, has been selected by Fortis Microfinance Bank to provide SMS Receipts(TM) to thousands of retail banking customers throughout Nigeria.

Sean Moroney, chairman of AITEC Africa, whose core business since 1987 has been focussed on ICT publishing, event management, professional development and training in Africa, spoke to Hilary Okeke on the forthcoming AITEC Banking and Payment Technologies Conference and other issues.

During The Aspen Environment Forum Her Majesty Queen Noor of Jordan presented the King Hussein Leadership Prize which recognizes outstanding leadership in promoting human rights, sustainability and world peace. And the winner was Bob Freling, Executive Director of an American non profit called SELF -- the Solar Electric Light Fund, which has been solar-powering villages around the world.

Sound policies and regulations for microinsurance in Nigeria will encourage innovation, investment, sustainability and growth in the insurance sector, while protecting consumers and the soundness of institutions. The overall objective, according to the author, is to provide value-for-money products on a massive scale to the low-income population.

ACCION Wins Inter-American Development Bank's First "Juscelino Kubitschek Award". ACCION International, a pioneer and leader in microfinance, today announced that it has been awarded the Inter-American Development Bank's "Juscelino Kubitschek Award" for its contributions to economic and financial development in Latin America and the Caribbean.

Governments bargain for “fair deals” that enhance development: Large mining operations in Africa have generated big profits for foreign companies, with little local benefit. Now governments are trying to harness more mining revenues for development purposes.

A hive of social activity: where French entrepreneurs benefit from collective intelligence. After graduating, Charlotte Hochman worked with several grassroots organisations in India and Brazil, one of which was Village Action. She then launched La Ruche, or ‘The Beehive’ in English, a NGO that is open to anyone proposing an innovative solution to a social or ecological challenge...

The idea all began when Emeka Okafor mused aloud at ned.com, “While the ICT space has developed a head of steam in some parts of Africa… a ‘Maker Philosophy’ is yet to occur. I would be interested in getting a sense of everyone’s thoughts on a Maker type Faire within the continent… an event where Afrigadget type innovations,inventions and initiatives can be brought to life, supported,amplified,propagated etc.” This can be dangerous. Today, along with Afrigadget and the International Development Design Summit - and with a nod from Maker Faire - Maker Faire Africa is moving forward into planning stages for a summer 2009 kick-off.

Nobel Peace Prize winner Muhammad Yunus, known as the "banker to the poor" for making small loans in impoverished countries, is now doing business in the center of capitalism — New York City. Nobel Peace Prize winner Muhammad Yunus greets borrowers at a Grameen America open house at St. John's University in New York on Saturday.

In recognition of Mother's Day (May 10, 2009), Calvert Foundation is undertaking a major "Honor Mom" campaign to channel new resources from investors and donors into international microfinance and microlending initiatives benefiting women, who are lifting themselves and their families out of poverty.

The Innovation Fund is a special facility within EFInA that seeks to promote innovation in the development and deployment of financial services and thus expand financial access to the underserved population in Nigeria. EFInA will share the risk of developing and implementing new innovations by providing a grant subsidy (up to 50%) for new commercial projects.

An industry group recently launched a project to analyse how biometrics could strengthen customer identification and help prevent fraud in the banking industry.

Jessica Jackley, co-founder of Kiva, the world's first person-to-person micro-lending Web site, spoke at the Shell Auditorium April 14. Jackley was invited by Rebecca Richards-Kortum, Beyond Traditional Borders Director, as part of the Rice 360 initiative. Kiva, which means "agreement" or "unity" in Swahili, has helped nearly 500,000 lenders across the globe loan approximately $67 million to individual entrepreneurs from 45 developing countries since its founding three and a half years ago, the organization's Web site said.

About one third of the world's people spend nights in darkness, fearful of venturing out, unable to read, cook, sew or do anything else but sleep. But a business man in Houston, Texas named Mark Bent is on a mission to change that with flashlights that use the sun's energy to light up poor homes and villages at night.

Pakistan Prime Minister Syed Yusuf Raza Gilani has said that microfinance is an important pillar and integral part of Pakistan’s poverty reduction strategy and the government is making all out efforts to expand its coverage through microfinance banking, microfinance institutions and rural support programme.

What happens when you travel to Argentina to learn how to play Polo? You start a sustainable and socially conscious shoe company. Of course... Well, that is exactly what happened to Blake Mycoskie, founder of TOMS shoes.

IEEE, the world's largest technical professional association and its members, are collaborating with organizations from around the world to educate and address key issues surrounding sustainability ranging from energy and resources both natural and man-made, to the technologies that are needed to overcome many of today's most pressing sustainability problems. IEEE is commemorating its 125th anniversary in 2009 by "Celebrating 125 Years of Engineering the Future" around the globe.

U.S. President Barack Obama gave a spirited defense of his economic strategy on Tuesday, saying there were signs of progress in battling the recession, but "by no means are we out of the woods just yet." In his most comprehensive speech on the U.S. economic downturn, now in its 16 month, Obama offered no new policies but gave a detailed review of the steps he has taken to rescue the economy and rebuffed critics who say he is spending with "reckless abandon."

Report from CGAP finds that MFIs are well-positioned to contribute to energy efficiency in developing countries, but recommends shift in priorities from loans to financial services that include savings.

Two years after being launched as the first poverty-focused social business in the Arab world, Grameen-Jameel Pan-Arab Microfinance Limited (Grameen-Jameel) is celebrating significant milestones that are helping to transform microfinance’s impact across the Arab World.

Dave Valle, a former Major League Baseball player for the Seattle Mariners, is the founder of microcredit agency Esperanza, whose mission is to help the poor in the Dominican Republic and Haiti start their own businesses. In addition to making loans, Esperanza has become active in community development: creating a school, computer training centers, a member-funded health care plan, a water treatment system, and a home improvement initiative. The organization has also spearheaded the construction of five baseball fields.

Cloud-computing technology has come along way. For example a single server can host several virtual servers on one machine. That is a simple example of cloud-computing. Cloud-computing is when any virtualised resources are provided as a service. This is expected to become a huge industry. And this is now concerning the Microfinance Institutions.

We recently learned that Denmark plans on building the world’s largest wind farm. With a net installed capacity of 209 MW, Horns Rev 2 (companion to Horns Rev 1) will provide power to 200,000 homes. The North Sea offshore wind farm is scheduled for completion later this year.

G20 media reaction is a mixture of cautious optimism and scepticism.

Billionaire investor Gorge Soros has said the G20 summit will be a "make or break" event for the world's economy. He said the G20 meeting had to come up with concrete solutions to help the developing world in particular, which had been been worst hit.

Royal Exchange plc, has been granted approval-in-principle by the Central Bank of Nigeria (CBN) to operate a microfinance bank in the country, a move that is expected to deepen access to financial services by the informal and under-banked segments of the economy.

Grameen Foundation has received Shs7 billion from the Bill and Melinda Gates Foundation to support agricultural technology, healthcare, and also improve access of information services by rural farmers in Uganda and Ghana.

According to Mr. Attali, who is President of PlaNet Finance, micro-credit plays a key role in development efforts targeting the poorest segments of the population, and micro-finance sources need to be preserved at a time when the global financial crisis is severely hitting Africa. The continent has made steady progress over the last decade, building the foundations for higher growth rates and poverty reduction.

An educational initiative between Rice University computer scientists and Indian educators will enable schools in rural India to be some of the first to benefit from Rice's revolutionary, low-energy computer chips. Rice's Krishna Palem, the inventor of the energy-stingy chips, said his team is creating a solar-powered electronic slate, or I-slate, an electronic version of the blackboard slates used by many Indian schoolchildren.

What if someone approached you and said, “Come up with four grand and I’ll let you spend your summer fighting athletes’ foot, near-death traffic experiences and the glorious state of having ass-rash?” It might sound like an abduction or ransom situation to some. But two UBC students have willingly signed up for this.

The Swedish Finance Supervisory has given preliminary approval in the form of a real banking license to video game maker, MindArk PE AB. Within a year, a person will be able to enter the online sci-fi video game Entropia Universe to conduct some real-world banking business -- forever changing the concept of online banking. Set on planet Calypso, there will be no lines, no hassles, and always the experience you'd expect with a friendly service from virtual bank tellers who never change.

Nobel Peace Prize winner Muhammad Yunus from Bangladesh earlier this week made a valiant call for a bailout package for the world’s poor. At a recent meeting in Tokyo, the microfinance guru warned that the global economic crisis will hit the world’s poorest people the hardest and that “there is no bailout package for them.”

Led by a consortium of partners, project supports GOE’s Safety Net Program, a new nationwide development project that will assist poor, rural households in food insecure areas that benefit from the Government of Ethiopia’s Productive Safety Net Program (PSNP). This three year project will move households towards graduation from PSNP through market-driven approaches to diversify their livelihoods, build assets and link to financial services and markets.

Finance officials from 20 of the world's leading economies pledged Saturday to substantially boost funding for the International Monetary Fund and "take whatever action is necessary" to stimulate growth around the world. The meeting came after days of disagreement between U.S. and European officials about the best approach to tackling the economic problems. The United States has urged countries to enact bigger spending programs to fuel growth, while some European countries have focused on passing new regulations for financial markets.

The global economy will shrink this year for the first time since the second world war as the "Great Recession" ravages businesses, consumers and financial institutions around the world, the International Monetary Fund warned. Speaking in Tanzania, IMF managing director Dominique Strauss-Kahn said the economic downturn would be more severe than previously thought.

Lamit implement modern technology, broadband satellite internet , virtual private networks (VPN) through satellite, video surveillance service anywhere in the world, Voice over IP (VoIP) communication solutions, mobile satellite communication systems through satellite, all with the QoS standard active. They are a company whose services has been already developed in Europe, Africa, Middle East, Far East and the Americas. Our portfolio creation, with clients based in the most inaccessible locations, worldwide, was possible due to a young, innovative and future-looking team.

SKS Microfinance, the largest microfinance provider in India in terms of assets, is eyeing China as its next destination for expansion. The export-driven Chinese economy is reeling under the impact of recession due to the global meltdown. Several vocationally-trained employees have already suffered job losses.

Recently the EU has decided to tax such locations and even swiss banks would have to have taxes applied to them. This news is very recent and it is uncertain in which direction this news would take us. Nonetheless there are always banks out there such as in South America that are not subject to this rule.

Microfinance in China is poised for a significant expansion as the government, Non-governmental Organizations (NGOs) and commercial banks begin to explore ways to provide the country's most impoverished people with greater access to credit. According to Bai Chengyu, secretary general of the China Association of Microfinance, after 10 years of development, microcredit has entered a transition phase and is now moving "from experiment to large-scale commercial development."

While world markets are teetering in a global banking meltdown, another banking drama is playing out in Switzerland that could end the way private banking has been done there for centuries. U.S. tax authorities have challenged long-standing Swiss banking secrecy laws, demanding that UBS AG release the names of 52,000 Americans suspected of opening secret accounts to evade taxes.

Praseeda, honoured for her activism and microfinance work with India’s destitute women, won the award alongside a myriad of Indian film stars, doctors, corporate achievers, authors, artists and healthcare workers.

With the admittance of the microfinance subsidiary of United Bank for Africa Plc as a network partner of the WWB, UBA Microfinance Bank has joined the global network of partner microfinance institutions and banks including ASA, the number one and four others in the list of the top 10 Microfinance Finance Banks in the world.

The Central Bank of Nigeria (CBN) said it has concluded arrangement with 24 Nigerian banks to raise N200 billion funds as part of efforts to support agricultural sector and to ensure availability of food in the country.

The Federal Government is fine-tuning a multi sectoral arrangemments to create one million jobs capable of generating several thousands more employment opportunities this fiscal year, Youth Development Minister, Senator Akinlabi Olasunkanmi, has disclosed.