Bank to Allow Donors to Contribute to Microfinance Fund

Citigroup, the New York bank, is planning to establish a new program later this month through which wealthy philanthropists can make donations of $50,000 or more to institutions that provide small loans and other financial services to entrepreneurs in developing countries, The Wall Street Journal reports.

Citigroup plans to give donors regular updates on the projects they are supporting and has hired an outside firm to provide independent analytical reports.

Read The Chronicle’s article about the growing interest philanthropy has shown in making small loans.)

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