Rotary Foundation, a nonprofit organization that promotes health, education and poverty alleviation, and Oikocredit, a Dutch investment fund, recently launched a partnership to increase the effectiveness of microfinance investments. Under the agreement, Rotary Foundation will offer grants to its constituent Rotary Clubs to help build the capacity of microfinance institutions (MFIs) in Latin America and Asia that have been funded by Oikocredit. Rotary Clubs and the MFIs will work together to identify the needs of the local community and develop training programs for entrepreneurs.
The strategic partnership is part of Rotary Foundation’s “Future Vision Plan,” which is intended to direct funds toward projects that will have the greatest impact on local communities in developing countries. The Rotary Foundation’s revenues are generated from member contributions and investment earnings. Over fiscal year 2010, the organization reported contributions of approximately USD 268 million.
By Julie Moksim, Research Associate
About Rotary Foundation: Rotary Foundation is a nonprofit organization that is supported by the voluntary contributions of members of Rotary International, an organization that is made up of businesses, professionals and community leaders worldwide. The mission of Rotary Foundation is to promote health and education and to alleviate poverty. Over fiscal year 2010, the organization reported contributions of approximately USD 268 million.
About Oikocredit: Oikocredit is a Dutch cooperative investment fund comprised of church groups, cooperatives and individual investors. Established in 1975, it works in 70 countries worldwide, investing mainly in microfinance institutions (MFIs), as well as trade cooperatives, fair trade organizations and small and medium-sized enterprises (SMEs) in the developing world. As of year-end 2009, Oikocredit reported USD 665 million in total assets with 790 active investments, of which 543 were in MFIs.
Sources and Additional Resources:
Rotary International Press Release: “Rotary and Oikocredit Launch Stragegic Partnership” by Arnold Grahl, April 13, 2011, http://www.rotary.org/en/MediaAndNews/News/Pages/110413_news_oikocredit.aspx
Oikocredit Press Release: “Rotary Foundation and Oikocredit Working Together for Empowerment”, April 13, 2011, http://www.oikocredit.org/en/publications/news-items/701/rotary-foundation-and-oikocredit-working-together-for-empowerment
MicroCapital.org Brief, August 23, 2010: Oikocredit Invests $5m in Alalay Sa Kaunlaran Inc of the Philippines, Capital Aid Fund for Employment of the Poor (CEP), of Vietnam, the TYM Fund of Vietnam and Thaneakea Phum (Cambodia) Limited, https://www.microcapital.org/microcapital-brief-oikocredit-invests-5m-in-alalay-sa-kaunlaran-inc-of-the-philippines-capital-aid-fund-for-employment-of-the-poor-cep-of-vietnam-the-tym-fund-of-vietnam-and-thaneakea-phum-camb/
MicroCapital’s Microfinance Universe Profile: Oikocredit
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oikocredit
MicroCapital’s Microfinance Universe Profile: Rotary Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Rotary+Foundation
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