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New Delhi, March 20 The Citi Foundation today announced a three-year $ 11.2 million international grant programme to advance the integration of microfinance into the mainstream economies of developing countries.

The Citi Network Strengthening Program will increase the ability of 12 major microfinance networks and their members to develop products and services that meet the needs of their clients. In addition, the program aims to enhance the industry’s infrastructure, introduce higher standards of management and governance, and promote the vital role of microfinance in providing the poor with access to financial services.

In India, Sa-Dhan, a common platform representing multiple models and approaches for microfinance, has been selected for receiving this Citi Foundation support.

Sa-Dhan will use the funding to develop and implement strategic business plans that focus on expanding ability to provide clients with the products and services they need, enhance their role as advocates for the microfinance industry and also develop industry infrastructure.

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