The idea behind PlaNet Finance was first formulated in 1997 under the name of PlaNet Bank.

In 1997, Jacques Attali was invited to address a seminar at the Aspen Institute where he put forward a simple idea: that of creating a virtual bank, named PlaNet Bank, which would serve to refinance Microfinance Institutions. (See speech by Jacques Attali at the Aspen Institute).

At the same time, Arnaud Ventura contacted Jacques Attali to present his NGO-NET project, a not-for profit organisation whose objective was to use the Internet and New Information and Communications Technologies to reinforce the capacities of NGOs in different sectors (among them, health, education, and microfinance). Jacques Attali suggested that Arnaud Ventura draft a first version of a Business Plan for PlaNet Bank and outline the services the organisation would offer.

In February 1998, Jacques Attali presented the project to Michel Rocard, Muhammad Yunus and Massimo Ponzelli, who supported the idea and were asked to join the future governing body of the organisation.

A pilot programme was set up in East Africa as early as May 1998. Managed by Arnaud Ventura, the programme’s objective was to gain a better understanding of the needs of microfinance institutions. The programme and the results of the work carried out by the numerous specialists who participated in the project led to the founding of PlaNet Finance on 13 October 1998, under the French legal status “Loi 1901” (not-for-profit organization).

PlaNet Finance is an international NGO whose mission is to fight against poverty by developing microfinance.

The private sector has backed PlaNet Finance since the beginning. Numerous companies contribute to financing its work, complementing the funds provided by international financial institutions. PlaNet Finance’s main sponsors include DEXIA, Cap Gemini, Organisation Internationale de la Francophonie (via the Fonds Francophone des Inforoutes), the World Bank (via InfoDev) and two private donors.

PlaNet Finance’s aim is to become a microfinance plaform that brings together the various actors in the sector and, at the same time, serves to pool the resources needed to develop microfinance.

Since it was founded, PlaNet Finance has continued to expand its operations and build on its experience with the aim of serving the growing number of actors in the microfinance sector and, consequently, to contribute in developing microfinance around the world.

Over the years, PlaNet Finance Group has developed into an organisation providing a diversified set of services:

• Technical assistance, advisory services and training for actors in the microfinance sector;
• Microfinance institution evaluation and rating via Planet Rating, a specialized microfinance rating company founded in 1999;
• The financing of Microfinance Institutions with the founding of PIAM in 2006, renamed PlaNIS in 2008, an entity specialised in microfinance fund organisational and management advisory services;
• Direct investment in microfinance via MicroCred, a microfinance investment company created in 2005;
• Microinsurance services, via PlaNet Guarantee, a company founded in 2007 and specialized in the distribution of microinsurance products;
• Support for entrepreneurs in France’s sensitive urban areas, via FinanCités, a venture capital fund launched in 2007.

PlaNet Finance’s international network has been gradually expanding as well. The first local office of PlaNet Finance was set up in Benin as early as 1999, followed soon after by PlaNet Finance India in 2000.

Based in Paris, PlaNet Finance and its international network are active in more than 80 countries with an permanent offices in Europe, North America, Latin America, Asia, Africa and Middle East.

Each year, PlaNet Finance Advisory Services manages approximately 100 programs with about 200 microfinance institutions (MFIs), reaching more than 4 million clients. Since its beginning, Planet Rating conducted 478 rating missions. MicroCred now runs 6 microfinance institutions. PlaNet Guarantee has been able to provide microinsurance products to 130,000 microentrepreneurs. PlaNIS has set up the financing for 75 MFIs mainly on behalf of responsAbility funds /Credit Suisse and MicroFund for a total of USD 156 million. Since 2007. FinanCités financed 36 microentreprises in France for a total of EUR 2 millions. PlaNet Finance now gathers more than 1,000 staff.