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06:08 GMT
WASHINGTON, May 13 (KUNA) -- President Barack Obama late on Tuesday
nominated Maria Otero, a leader in microfinance, as U.S. Under Secretary of
Global Affairs at the State Department.
Otero, of La Paz, Bolivia, is president and chief executive officer (CEO)
of ACCION International, a pioneer in microfinance working in Africa, Asia,
Latin America and the United States,
Under Otero's tenure, the ACCION network expanded from serving 460,000
people to more than 3.7 million, through a combined portfolio that has grown
from 274 million dollars to nearly 3.6 billion dollars, the White House said.
"She has become a leading voice on sustainable microfinance, publishing
extensively on the subject and speaking throughout the world on microfinance,
women's issues and poverty alleviation," the announcement said.
Prior to her work with ACCION, Otero served for five years at the Centre
for Development and Population Activities (CEDPA). She was also the Economist
for Latin America for the Women in Development office of the U.S. Agency for
International Development.(end)
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