Clinton Global Initiative Unveiling

Former President Clinton praises FINCA's pledge aimed at operating 100,000 Village Banks and bringing critical services to millions in the developing world.

FINCA International's announcement of an ambitious new campaign commitment received rare, special recognition from former President Bill Clinton in remarks at the recent Clinton Global Initiative in New York.

At the center of FINCA’s commitment is a planned drive to operate 100,000 Village Banks serving millions of the world’s lowest-income entrepreneurs. FINCA has also committed to expand into new markets, where many of the poor currently have no access to formal financial services. FINCA, which was founded in 1984 by microfinance pioneer John Hatch, currently operates 30,000 Village Banks, which are community-run, community-focused credit and savings associations, in 20 countries of Africa, Eurasia, Latin America, and the Greater Middle East.

“This is a good commitment,” said Clinton as he stood on-stage with FINCA Board Member Fred Hochberg and New Business Development Services Senior Manager Scott Leurquin. “The Foundation for International Community Assistance believ[es] that microfinance can be the leading edge of a global drive to eradicate poverty.”

FINCA Ambassador of Hope Natalie Portman and VISA International are among the leading supporters of FINCA's goal to expand outreach to 100,000 Village Banks by 2010.

“We are honored that President Clinton took time to recognize FINCA among such a distinguished group of individuals and organizations committed to ending poverty,” said FINCA’s Executive Director, Rupert Scofield. “The commitment we make today reinforces our decades-long efforts to empower poor families to create their own jobs and work their way out of poverty, providing their children with more hopeful futures."

For a video of FINCA Board Member Fred Hochberg and FINCA’s Scott Leurquin signing the campaign commitment with President Clinton, please click on signing video, then click “Watch Full Video Archive” to access the clip and, once there, fast forward to the 57-minute mark to see FINCA’s proud moment.

To read a transcript of President Clinton’s remarks on FINCA, please click here (the text is at the bottom of page 32-33).

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