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Core Program Areas

Agriculture Education Emergencies Health HIV and AIDS Microfinance Peacebuilding Water and Sanitation

Cross-Cutting Areas

Capacity Strengthening Climate Change ICT4D IHD Monitoring and Evaluation Youth

Mergers in Microfinance

Twelve Case Studies

Intended as a companion resource to Tying the Knot: A Guide to Mergers in Microfinance. The twelve case studies presented here demonstrate that mergers are already taking place in diverse microfinance environments. While mergers may not be the solution for everyone and not all mergers succeed, there can be great value in building stronger institutions by linking up with competitors.

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Elissa McCarter


Introduction 1
Case Study 1: FORA Fund—Russia 7
Case Study 2: Thaneakea Phum Cambodia (TPC) 11
Case Study 3: Enlance/Catholic Relief Services—El Salvador 19
Case Study 4: Opportunity Microfinance Bank—Philippines 27
Case Study 5: ACCION USA and Working Capital—Massachusetts 39
Case Study 6: Asala—West Bank/Gaza 45
Case Study 7: World Bank Local Initiatives Project—Bosnia and Herzegovina 53
Case Study 8: XAC and GE—Mongolia 59
Case Study 9: Financiera Confia—Nicaragua 63
Case Study 10: Financiera El Comercio—Paraguay 69
Case Study 11: PRODEM and FIE—Bolivia 73
Case Study 12: Eco Futuro—Bolivia 83
Merger Lessons
Annex 103

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