PlaNet Finance is an international non-profit organization

Non-profit organization

Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...

 with the mission to alleviate poverty through the development of 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....

, therefore increasing the unbanked

Unbanked

The unbanked are citizens of a country who do not have their own bank account. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available.-The unbanked in the United States:...

 and underbanked's access to financial services.

Over the past ten years, PlaNet Finance has developed into a group of organizations (PlaNet Finance Group) providing a diverse set of services. Based in Paris, PlaNet Finance's international network holds activities in close to 80 countries around the world through a network of 700 staff.

Goals

PlaNet Finance provides access to financial services to the poorest populations, the financial intermediaries including banks, cooperatives, non-governmental organization

Non-governmental organization

A non-governmental organization is a legally constituted organization created by natural or legal persons that operates independently from any government. The term originated from the United Nations , and is normally used to refer to organizations that do not form part of the government and are...

s (NGO), and microfinance institutions. PlaNet Finance was founded in Paris

Paris

Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...

, France

France

The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...

 on October 13, 1998 by Jacques Attali

Jacques Attali

Jacques Attali is a French economist, writer and senior civil servant.Former adviser to President François Mitterrand and first president of the European Bank for Reconstruction and Development, he founded the non-profit organization PlaNet Finance and was nominated President of the Commission for...

, its first and current President, and Arnaud Ventura, its first CEO. The association has established a worldwide network of affiliated offices in Europe and the United States of America, and has operations in developing countries in Latin America, Asia, Africa and the Middle East. As of 2008, PlaNet Finance has supported 1,500 microfinance institutions financing more than 9 million people.

The association supports microfinance efforts by federating

Federation

A federation , also known as a federal state, is a type of sovereign state characterized by a union of partially self-governing states or regions united by a central government...

 financial intermediaries and providing them with operational services. PlaNet Finance also works with the private sector (banks and financial institutions), international agencies, and government to facilitate the creation of an efficient microfinance sector.

Activities

PlaNet Finance provides a set of different services via independent and specialized entities:

PlaNet Finance

Providing a full set of advisory and technical assistance services to players in microfinance via 3 business lines:

• Advisory and technical assistance services
• Microfinance Plus programmes : linking microfinance to social development programmes, especially in health, education and environment.
• Sectorial support in microfinance by 1) raising awareness about the nature and social benefits of microfinance; and 2) working with regulatory authorities to improve conditions for development of healthy microfinance.

PlaNet Finance Official Website

Planet Rating

An independent rating company, spun off from PlaNet Finance in 2005. Planet Rating carries out independent evaluation and rating missions of Microfinance Institutions (MFIs), disseminates the results of these missions, and provides customized evaluation and training sessions. These services are based on the GIRAFE methodology, a comprehensive evaluation and rating methodology designed to meet MFIs' characteristics.
PlaNet Rating Official Website

MicroCred

An investment holding company specialised in microfinance. MicroCred invests in a network of microfinance banks which it builds from scratch or takes over. MicroCred operates in 5 countries: Ivory Coast, Madagascar, Senegal, China and Nigeria.
MicroCred Official Website

PlaNet Guarantee

A group specialised in the development and management of microinsurance programmes. It provides consulting services to MFIs, banks, insurance companies and reinsurance companies in order to develop the distribution and management of microinsurance products. The ultimate goal is to protect both microentrepreneurs and MFIs against major accidents. PlaNet Guarantee Official Website (fr)

FinanCités

A venture capital

Venture capital

Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...

company targeting microentrepreneurs in France’s underdeveloped neighborhoods. FinanCités provides equity investments for micro and small companies to support their growth.
FinanCités Website (fr)

PlaNet University

A knowledge center offering microfinance training to professionals, students and microentrepreneurs. As of 2008, PlaNet University is exploring research projects and partnerships with business schools and universities. PlaNet University Official Website (fr)

PlaNIS

Debt funds management services as well as advisory services for microfinance financial vehicles. PlaNIS also manages MicroFund, a fund created by PlaNet Finance that lends to small microfinance institutions.