Membership Climbs to 70

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With the entry of another Mongolian member, the Micro-Finance Development Fund (MDF), ADFIAP’s membership count is now 70 in 35 countries, a significant increase of 18 new members from 52 two years ago. MDF’s entry has even more diversified the already diverse membership composition of the Association and signals that institutions providing microfinance are a welcome addition to ADFIAP.

The MDF was formed in December 2002 and commenced its lending operations in March 2003. It was created and funded by the World Bank and jointly implemented by the Government of Mongolia and the World Bank. It is a wholesale lending institution focusing on micro-finance institutions (MFIs), with commercial banks and non-bank financial institutions as conduits, and with the aim of expanding and diversifying livelihood source and rural incomes, in general.

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