Since the Spring of 2008, the MFMI has channeled scholarships to over 220 practitioners of microfinance originating from roughly twenty countries, to attend management training courses in microfinance, as part of the MasterCard Foundation Scholar's Program.  Schools and training institutes in the MFMI network take responsibility for advertising the availability of scholarships and collecting uniform evaluations from the trainees.  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 2009 for international scholarship support to help them attend local courses and training workshops related to their professional needs in microfinance and management. During 2009, the MFMI is one of six organizations implementing a scholarship program for microfinance practitioners as a part of the MasterCard Foundation Scholar's Program.

Scholarships cover a portion of the cost for practitioners to attend trainings that they would otherwise not be able to afford.  Over the course of 2009, several dozen more scholarships are expected to be given.

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 available from the MFMI only for MFMI Network members.  Network members who are interested in offering paid scholarships for attending courses in 2009, should immediately apply to the Microfinance Management Institute.  Scholarships from the last round of support from the MasterCard Foundation remain available.  These scholarships are free of charge for universities and trainers to use to augment their efforts to expand microfinance training.  The MFMI requires that evaluations be done by and for each person receiving a scholarship."

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.