KPLU Local News
(2010-09-29)
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Martha Eugenia Pérez de Sanchez of El Salvador with her daughter.
Photo courtesy Global Partnerships
It's really a sign of the times. Seattle's Global Partnerships has just raised 20-million dollars for a micro-lending fund. Most of the money comes not from donors but from investors. They'll make money by lending to women in poverty, small farmers and cooperatives in Latin America. President and CEO Rick Beckett says investors are finding his funds more rewarding than ever.
"Seemingly modest returns are now the highest performing in their portfolio," he says.
The fund offers as much as 4% annually for a five year commitment, with a minimum investment of $100,000 -- pretty good, compared to what banks are offering these days. And investors get the added benefit of knowing their money is helping people work their way out of poverty.
"The global economic crisis has made life a lot harder for people living in poverty. So there are a growing number of people in Latin America and elsewhere that are struggling."
Beckett says this fund is putting an emphasis on what his organization calls "Microfinance plus." They work with Latin American lenders that provide extra services along with their loans. So a new pig farmer also gets classes in caring for the animals and marketing. And women in rural areas might get health care and cancer screening, along with their loan.
For More Information: Global Partnerships' Website, with info on the upcoming "Business of Hope" Luncheon, October 12 in Seattle © Copyright 2012, KPLU
