A pioneering charity has launched a new initiative in the face of the credit crunch, to take loans from people who need a decent return on their income, and invest their money to help those in the developing world.
Opportunity International, the world's largest Christian microfinance organization, has announced the launch of OptINnow, a new initiative in the fight against global poverty. Based in the US, OptINnow connects people who want to make a difference with the working poor around the world who need small business loans to lift themselves out of poverty.
Harnessing the power of the market to help solve the problems of global poverty, hunger and inequality is both possible and necessary, a Nobel Peace Prize winner told an invited audience of specialists in London on Thursday night.
Oikocredit, the leading private international microfinancier, which gives support to poor communities and social enterprise, has announced a significant growth in activity and impact in its preliminary results for 2007.
Oikocredit, a global member-based social investment co-operative which makes small loans to hundreds of vital development projects, has expressed hope that it will "really take off" in the UK after receiving its first major contribution.