Other Countries
While the CDFI Fund and its certifications are limited to the U.S., the UK also has about 70 CDFIs and a trade association, the Community Development Finance Association. The UK government has provided various funding initiatives for CDFIs and credit unions, and Community Investment Tax Relief (somewhat similar to New Markets Tax Credit) is available on investments in accredited CDFIs.
Institutions similar in purpose exist around the world, such as Grameen Bank in Bangladesh, though they are not generally called CDFIs, but are described by other terms such as microfinance institutions or social banks.
Read more about this topic: Community Development Financial Institution
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“In some things, we Americans leave to other countries the carrying out of the principle that stands at the head of our Declaration of Independence.”
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