Charities link with corporates for micro-finance initiative

Development charities Plan International and Care International have teamed up with two corporate partners to run a £10m micro-finance programme in 10 developing countries.

Barclays will provide the funding and consultancy Accenture will offer management advice on running the projects, which include village savings schemes and loans.

UK-based Care International and Plan International will run the local schemes. A spokesman for Plan International said the full details of each charity's role would be finalised by 17 October.

Barclays said the three-year programme would affect 800,000 people in Africa, Asia and South America.

Former US President Bill Clinton announced the partnership at the annual meeting of the Clinton Global Initiative in New York on Thursday. The initiative is a membership organisation made up of heads of corporations and current and former heads of state.

Susie Hayes, global community partnerships manager at Barclays, said Barclays approached Plan International and Care International because they have the best local knowledge of the countries in which the projects will run.

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