Since 2011, the Sparkassenstiftung für internationale Kooperation (Savings Banks Foundation for International Cooperation) has supported the microfinance sector in Bhutan by setting up and strengthening a professional microfinance institution according to the German savings banks model. Meanwhile, the five branch offices of the “RENEW Microfinance Bank” (RENEW MFI) have reached over 7,000 female customers in the rural regions of Bhutan.
Thus far, RENEW MFI was allowed to render microfinance services with the tacit permission of Bhutan’s central bank, the Royal Monetary Authority (RMA). RENEW MFI is the first financial institution in Bhutan that has been issued a formal license for its business operations.
For more information about Sparkassenstiftung´s project to set up a microfinance institution in Bhutan, please, follow the <link http: www.sparkassenstiftung.de projekte projekte-listedetails projekt aufbau-eine-mikrofinanzinstitution _blank>link
The film "Under the red umbrella" - a supportive tool used by RENEW MFI to work on the financial literacy of potential female customers can be accessed <link https: www.youtube.com _blank>here
Contact partners:
Dr. Ilonka Rühle / Carina Lau
Sparkassenstiftung für internationale Kooperation
Simrockstraße 4
53113 Bonn
Phone: +49 228 9703-6624/-6608
Fax: +49 228 9703-6613