In the May 2021 Australian Budget, Grameen Australia was awarded a grant of $3.5m to provide a women’s microenterprise project. The grant is administered by the Department of Social Services (DSS) and specifically through the Financial Wellbeing Branch and the Try, Test and Learn Fund, on behalf of Minister for Social Services, Senator Anne Ruston.
This critical seed funding will see us transition from concept phase to establishment and operational pilot and adaptive program design phases, not only in relation to our pilot branch in Broadmeadows, but to other priority locations.
Grameen Australia and Grameen Trust have signed a memorandum of understanding to work together to set up and implement a microfinance program in Australia for people on low incomes.
Grameen Australia fully respects and acknowledges the expertise of Grameen Trust in establishing successful microcredit programs. It has provided support to 153 partner organisations in 42 countries which has served more than 16 million people with microcredit around the world.
Grameen Trust was established in 1989 by Nobel Laureate Professor Muhammad Yunus to meet the growing demand for learning about Grameen Bank approach to poverty alleviation. It supports, promotes and implements poverty focused microfinance, social business and other programs around the world. It also provides training, technical assistance and financial support to microfinance program and social business projects.