| Dear friends, In recent weeks, the world has watched Haiti struggle with the aftermath of two devastating earthquakes and countless aftershocks. Long-term Oikocredit project partner Fonkoze has 41 offices in Haiti. The Fonkoze team is now working hard to reach its 33,000 clients around the country and we are closely monitoring the needs of Fonkoze to see how we can assist. Support Fonkoze directly:  In our first Ezine for this year, we look back on a successful 2009 - both socially and financially. Recently, Oikocredit received last year's preliminary, non-audited results, reflecting a solid performance despite a precarious economic climate (details in Facts & Figures and Corporate News). 2009 also saw important issues arise in the sector, including the threat of serious debt to microfinance borrowers, in a rapidly expanding market (for the full report, see Corporate News). If your friends, family or colleagues are interested in socially responsible investing, forward this Ezine to show them how Oikocredit's investors and project partners make a difference in the lives of the poor.
In practiceMadagascar: Independent and empowered| For the past seven years, Raharison Fanoelle has been successfully running her enterprise selling fresh juice in Antananarivo, Madagascar. A single mother of one child, Fanoelle received her first loan of MGA 1.5mil
(€ 525) from MicroCred Madagascar in November 2007. She used the loan to buy Chinese ingredients, which are hugely popular in her district of Ambalaveao Isotry. | |  |
Read more… Kyrgyzstan: Success on a larger scale|  | | Kosmosbek Cholponbaev has been building up his pharmaceutical business and marketing local medicinal herbs and remedies since 1996. With a series of five loans from Kompanion, his company ‘GalenPharm' has grown. Today, with 50 full-time employees and 15 part-time employees, GalenPharm is a successful medium-sized enterprise. Presently, Kosmosbek has a total loan amount of 84,000 USD and has used his loan to continue producing more than 60 varieties of medical treatments (about half of them made from local herbs) and also exporting herbs to Russia and Korea. |
Read more… Dominican Republic: Big dreams with micro money| Today, Epedita runs a small general store in the heart of Santo Domingo with pride and confidence. But before years of hard work began to pay off, Epedita was jobless; laid off when her previously employers discovered she was pregnant. With the little money she received after she was let go, Epedita began a small grocery store in front of her family's one-bedroom home. | |  |
Read more… Latest deals
Armenia - AREGAK € 1,745,000 (2.5 mil USD)
Aregak provides financial services to low-income micro and small entrepreneurs in Armenia, with a focus on rural areas and women. Its aim is to reach 650 communities in Armenia and improve the economic and living standards of low-income families and small to medium entrepreneurs with sustainable financial services.
North, West and Central Africa - AFRICINVEST € 2 mil AfricInvest invests in small and medium enterprises in North, West and Central Africa through the AfricInvest fund. The fund aims to modernize businesses by introducing state-of-the-art technology and practices, generating employment and income and improving corporate governance transparency.
Paraguay - CEFISA € 2 mil (2.94 mil USD)
CEFISA offers a variety of products and services to clients to finance their capital needs. The organization finances fixed assets for small and medium enterprises and micro-businesses, as well as medium-term loans for micro, small and medium sized firms in agricultural, cattle and trade.
India - BHARATHI WOMEN DEVELOPMENT CENTRE € 335,000 (23 milINR)
BWDC is a non-government organization established 22 years ago. It is involved in child care, aged care, health and hygiene, livelihood promotion and microfinance. BWDC offers development and financial services to clients with a vision to encourage economic self-reliance of the poor in Tamilnadu.
Facts and Figures| New loans* | € 153.5m | | Total projects | 790 | | Active countries | 70 | | People reached by MFI partners | 17.5m |
*approved loan or equity amount January - December 2009 Read more…
Corporate News Read more… © 2010 Oikocredit | More info | Subscribe | Unsubscribe |
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