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Recent Developments at Association PADME, a WWB Network Member

New York, NY – Women’s World Banking is deeply concerned about the situation facing Association PADME following the Benin government’s decision in March to request the resignation of PADME’s board and management team due to questions about the organization’s financial operations.

PADME, an MFI serving predominantly women entrepreneurs in Benin, has been a member of WWB since January 2002. Women's World Banking provides training, advice, and information to its global network of microfinance institutions (MFIs) to help them develop business strategies, strengthen their organizations, expand their customer base and deliver innovative products and services that meet the needs of low-income clients. Over the years, WWB has been able to build an open, trusting relationship with the PADME board and management based on mutual understanding and accountability. Women’s World Banking is one of a number of technical assistance providers that have worked with PADME.

WWB network member organizations are held to a high standard of performance and the same disciplined financial and ethical standards by which WWB operates. We are concerned whenever we believe that one of our network members is treated unfairly. We also take any allegation of financial impropriety related to one of our members seriously. We will continue to monitor the situation closely and as always will ensure that the WWB network continues to serve the needs of low-income entrepreneurs.