Omidyar-Tufts Microfinance Fund - AbsoluteAstronomy.com

The Omidyar-Tufts Microfinance Fund is a microfinance

Microfinance

Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....

investment firm established on 4 November 2005. eBay

EBay

eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...

founder

Entrepreneur

An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...

and social entrepreneur Pierre Omidyar

Pierre Omidyar

Pierre Morad Omidyar is a French-Iranian American entrepreneur and philanthropist/economist, and the founder/chairman of the eBay auction site...

and his wife Pam donated $100 million to their alma mater

Alma mater

Alma mater , pronounced ), was used in ancient Rome as a title for various mother goddesses, especially Ceres or Cybele, and in Christianity for the Virgin Mary.-General term:...

Tufts University

Tufts University is a private research university located in Medford/Somerville, near Boston, Massachusetts. It is organized into ten schools, including two undergraduate programs and eight graduate divisions, on four campuses in Massachusetts and on the eastern border of France...

to create the fund, which will offer millions of tiny loans to entrepreneurs in developing countries.

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