The new MasterCard Foundation Scholar's Program is for courses and trainings that occur during the 2008 calendar year.  Those schools that are collaborating in this program ought to advertise now and propose courses for MFMI support as soon as possible.  The MFMI is proud to announce that, as of July 2008, forty-six (46) scholarships for   training/education have been awarded to practitioners from Sri Lanka, Nicaragua, Ghana and Colombia.  Check the MFMI News site for ongoing updates.

Program of Scholarships Sponsored by the MasterCard Foundation

Professional staff of Microfinance Institutions (MFIs) may apply in 2008 for international scholarship support to help them attend local courses and training workshops related to their professional needs in microfinance and management. During 2008, the MFMI is one of six organizations implementing a scholarship program for microfinance practitioners as a part of the MasterCard Foundation Scholar's Program.

An estimated 100 scholarships are likely to be offered through thirty three training and academic institutions of the MFMI global network. The scholarships will cover a portion of the cost for practitioners to attend training events they otherwise might not be able to attend.

This scholarship program provides the MFMI an opportunity to create synergies and commonalities in how trainings are evaluated among its network, creating better data on impact and the skills of professionals.

Who Should Apply

Scholarships are only for microfinance practitioners seeking scholarship support to attend training or academic courses offered at one of the pre-approved affiliate institutions of the Microfinance Management Institute. A complete listing of eligible institutions is included as an Attachment to this application.

The schools and training groups, which are participating in this program and where courses can be taken under this scholarship, are listed at the bottom of this page.

How to Apply

To download a copy of the application in Microsoft Word format, click here.

Questions about the application process, or who should apply or when can be directed to Connie Jones for Latin America courses or to Cherie Espino for Africa, Asia or Russia.

The MasterCard Foundation

The MasterCard Foundation is an independent, private charitable foundation headquartered in Toronto, Canada. It was established through the generosity of MasterCard's customer financial institutions at the time of the company's initial public offering, to fuel economic growth and opportunity for underserved people around the world. Its mission is to broaden access to the global economy through innovative microfinance programs and to increase access to quality educational opportunities for underserved people. "Our Foundation is committed to strengthening the capacity of the microfinance sector by training staff working in developing countries," said Reeta Roy, president and CEO of the MasterCard Foundation.

The Microfinance Management Institute received its current grant from the MasterCard Foundation in concert with a set of five other grants for scholarships given this year to: 

• Microfinance Centre, known as MFC, based in Poland, a network member of the MFMI,
• The School of Applied Microfinance, based in Kenya,
• Frankfurt School of Finance and Management
• Harvard Business School & ACCION Program on Strategic Leadership for Microfinance, and
• The Boulder Institute of Microfinance

Visit the website of The MasterCard Foundation at http://www.themastercardfoundation.org/, or see their press release at this address http://www.themastercardfoundation.org/pdf/MCF_News_Scholars.pdf.