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AFRIK-IT  April 1998

AFRIK-IT April 1998

Subject:

The PlaNetBank : a new initiative...

From:

Arnaud Ventura <[log in to unmask]>

Reply-To:

Arnaud Ventura <[log in to unmask]>

Date:

Tue, 14 Apr 1998 22:19:27 -0300

Content-Type:

text/plain

Parts/Attachments:

Parts/Attachments

text/plain (80 lines)

Dear friends,

In December 1997, Dr. Jacques Attali made a proposal to develop a
network-based organisation using the Internet as its support to fight
poverty. This proposal led to the constitution of a team coordinated by
Arnaud Ventura.

The project has already received top-level international support: Pr. Yunus
and the Grameen Bank, Mr. Rocard European deputy and chairman of the
committee of  development  and cooperation of the European parliament, Mr.
Ponzellini vice-president of the European Investment Bank are now part of
this supportive group.

I would like to present you below as a short presentation the results of
this joint initiative: The PlaNetBank. We are looking to enlarge our team
and would like feedback and comments from all.

Arnaud Ventura

------------------

The PlaNetBank will be a new Virtual International Finance Institution
(VIFI) aiming at alleviating poverty by providing micro-credits to the
poorest. Those credits will be granted to Micro Finance Institutions (MFI),
Non Governmental Organizations (NGO) and other organizations or individuals
developing small projects directly aiming at reducing poverty.

The PlaNetBank operations will be driven by a new concept: the
network-centric institution. It will operate on the Internet, providing
loans and equity over the network. It will also use the Internet as a work
platform, involving several teams of experts who will network and
participate in credit committees to the analysis of the credits.

The PlaNetBank functioning objectives will be: efficiency, fast reaction and
transparency. The PlaNetBank will be a virtual bank ruled by a set of
rigorous procedures insuring maximum efficiency. Operating on the Internet
with the latest technologies available, fast reaction and transparency are
inherent to its concept.

The PlaNetBank will focus on AFRICA and CHILDREN first, targetting to
improve the situation of the children on a continent where that need is
urgent. Nevertheless, its products and services will be available throughout
all five continents thanks to Internet.

The PlaNetBank main products will be:

* Micro-credit packages to MFI for redistribution to the poorest
* Small loans to NGO and other organizations or individuals for projects'
implementation
* Equity for investment in small projects in close cooperation with private
sector investment

The PlaNetBank resources will come from three categories of shareholders:
the general public, the private/public sector, and PlaNetBank clients. All
shareholders will be members of the Board of Directors. The smallest will
take part in the Board through the Virtual Board of Directors (VBD),
constantly active on the Internet, whereas The Board of Directors will meet
once a month virtually and once a year physically. Along with the
PlaNetBank's General Management, the Board will define the strategy and the
orientations of the bank. In addition the PlaNetBank loans' resources will
comes from the Capital Markets and with the funds raised the Bank will
provide its clients with micro-credits.

The PlaNetBank will not work alone. The concept itself involves the
implication of a wide range of partners: from the general public, through
their donations or as being part of our expert networks, to institutional or
private partners, members of our Worldwide Network of Partners. The partners
will belong to the following categories: technical, commercial, information
and expert partners. They will assist us with services, products or on the
field with their local resources (country experts) or skills (commercial
partners). In addition, the PlaNetBank will work closely with the Micro
Finance Institutions (Grameen) to be able to respond at the best to their
needs.

The PlaNetBank will be a new challenge, aiming to take a challenge even more
important, maybe the major one of this end of century: poverty.

The PlaNetBank will need support from people like you, concerned by the
problem of growing poverty. If you wish to join us please write!

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