Bankers without Borders, an initiative of the Grameen Foundation, and the Association for Enterprise Opportunity have announced a new alliance to support microfinance and microenterprise development organizations in the United States.
The alliance will work to provide some four hundred organizations with access to the more than 6,200 active and retired business professionals in Bankers without Borders' global volunteer reserve corps. As part of the collaboration, Bankers without Borders will deploy pro bono consultants from diverse fields, including investment banking, risk management, information technology, and marketing, exclusively through AEO.
Through on-site technical assistance, training, and mentoring as well as remote consulting projects, Bankers without Borders' volunteers help organizations to boost their scale, impact, and sustainability. Since its launch more than two years ago, the organization has managed more than 250 projects, while its volunteers have donated more than 50,000 hours of service worth an estimated $4 million.
"This collaboration will help strengthen the capacity of those nonprofits focused on unlocking the potential of low-income entrepreneurs here in the United States," said Grameen Foundation president and CEO Alex Counts. "Our Bankers without Borders' volunteers are some of the best and brightest minds in the private sector. For those volunteers who are U.S. residents, this partnership presents them with the opportunity to help make a difference here at home where high levels of unemployment has prompted many to try their hand at self-empowerment through entrepreneurship."