The Citi Foundation today announced a three-year US$11.2 million international grant program to advance the integration of microfinance into the mainstream economies of developing countries. The Citi Network Strengthening Program will increase the ability of 12 major microfinance networks and their members to develop products and services that meet the needs of their clients. In addition, the program aims to enhance the industry's infrastructure, introduce higher standards of management and governance, and promote the vital role of microfinance in providing the poor with access to financial services.

China Association of Microfinance (CAM) has been selected as one of the networks to be supported by the program. The main project activities in 2008 include the industry assessment; network capacity assessment and network strategic and business plan development.

CICETE, one of the founders of the CAM, will provide executing service to the project. The grant agreement has been signed today.