The Summer of Microfinance is traditionally a time when we ask investors to become ambassadors for Oikocredit, reaching out to their respective communities to share our mission and encourage a wider base of support.

This summer, Oikocredit did things a bit differently. We held a variety of public events through which we reached out to different communities, particularly those we don’t always reach such as: a crew of socially conscious young professionals; microfinance practitioners and other experts in the field; investment advisors and fiduciaries with experience in socially responsible investing… to name a few.

Here are some of our best photos from the summer campaign. If you have any you’d like to share, please let us know @ usa@oikocredit.org.

Special thanks to Fonkoze USA, the Center for Social Philanthropy, WAM DC, Grameen Foundation, Women for Women International, and Joe & Pat Kelly for helping us host a wide array of events this summer. And many thanks to all who joined the movement this summer!

Leigh Carter of Fonkoze USA, center, with two attendees of the DC Launch Party for the Summer of Microfinance 2011

Oikocredit USA's Terry Provance & Leah Gage at the Summer of Microfiannce 2011 kick-off party in Washington, DC

Fonkoze USA Executive Director Leigh Carter presents Fonkoze's model of economic empowerment in Haiti. Oikocredit was one of Fonkoze's earliest funders, and Fonkoze remains one of Oikocredit's most successful project partners -- our only partner in Haiti.

DC's young professionals mingle and crowd the DC Launch Party for the 2011 Summer of Microfinance

Josh Humphreys of the Center for Social Philanthropy at Tellus Institute pictured with Oikocredit USA National Director Sharlene Brown and Executive Director Terry Provance at our co-sponsored roundtable discussion for investment advisors and fiduciaries.

The Boston round-table discussion, co-sponsored by Oikocredit USA and the Center for Social Philanthropy at Tellus, addressed concerns regarding responsible microfinance investing, and the social performance monitoring Oikocredit undertakes to guarantee our project partners are delivering a social impact in addition to the financial impact for their clients.

Pat Kelly and her husband Joe hosted our DC-area Summer of Microfinance house party. In the intimate setting of her home, Pat recanted her story of joining the Peace Corps to work in Colombia, a revolutionary feat for a young single girl from Indiana in the 1960s. She is seated alongside Cathy Yi of Grameen Foundation and Alyssa Hansen of Oikocredit USA.

National Director Sharlene Brown, right, reflects on her own story of empowerment, recognizing the opportunities she's had as a Jamaican immigrant in the United States that many of our project partners' clients will never have. Also present is Deb Burand, Mary-Rose Brusewitz, and Nadine Payne.

Sharlene Brown pictured alongside host Pat Kelly and Mary-Rose Brusewitz.

National Director Sharlene Brown with Andree Simon of Women for Women International, discussing women's empowerment practices for microfinance experts and practitioners at an event co-sponsored by WAM (Women Advancing Microfinance)

Our panel discussion with Women for Women International and WAM drew a large group of microfinance experts and practitioners, leading to a lively and engaged discussion of best practices for women's empowerment in very poor communities.

Under the partnership, the Rotary Foundation – the charitable arm of Rotary International — will provide grants to Rotary clubs to enable club members to work with microfinance institutions within the Oikocredit network. Together, these microfinance institutions and Rotary clubs will identify local needs, develop effective approaches, and structure training programs to improve entrepreneurs’ business skills.

“This strategic partnership with Oikocredit enables Rotary to work with a globally-recognized leader in the field of microfinance in order to make a meaningful contribution to poverty reduction,” said Rotary Foundation Chair Carl-Wilhelm Stenhammar. “It allows Rotary club members to directly contribute their valuable expertise and skills without administering the loans directly.”

“Knowledge and training are as important as financing,” explained Oikocredit Managing Director Tor G. Gull. “Oikocredit’s financing relationship with local entrepreneurs and microfinance organizations means we also see the need to help them strengthen their capacity to develop further, both economically and socially. Rotary funding and expertise from volunteers will greatly facilitate this effort.”

As an example, Gull cited a dairy production plant that receives Oikocredit funding for equipment to increase production. “But what is also essential is training to use that equipment efficiently, and guidance on how to market the new products,” he said.

Oikocredit is a cooperative financial institution that offers loans or investment capital to microfinance institutions, cooperatives, fair trade organizations and small-to-medium sized enterprises in the developing world. Investors earn modest financial returns and the knowledge that their money is being used to fight poverty and promote fair trade in an environmentally responsible manner. Founded in 1975, Oikocredit has US$684 million (€480 million) invested in over 800 organizations in more than 70 countries, benefiting more than 20 million people through its microfinance partners.

Rotary is an organization of business and professional leaders who provide humanitarian service and help to build goodwill and peace in the world. There are 1.2 million Rotary members in 34,000 Rotary clubs in more than 200 countries and geographical areas. Rotary clubs have been serving communities worldwide for more than a century.

The Rotary Foundation, under its new Future Vision plan, seeks to forge strategic partnerships with established organizations with expertise in any of Rotary’s six areas of focus: peace and conflict prevention/resolution; disease prevention and treatment; water and sanitation; maternal and child health; basic education and literacy; and economic and community development. The foundation grants support major international projects with sustainable, high impact outcomes.

A view from above of the Cocovico Market in Abidjan

Mariam writes that, “President Gbagbo has seized control of some banks in order to ensure civil servant and military personnel payroll. He has also taken control of the water and electricity companies, mandating an immediate cut of supply to the northern regions favourable to Ouattara. International tv and radio are cut off.”

Mariam Dao, far left, with Oikocredit Director Tor G. Gull at the grand opening of the Cocovico Market in Abidjan, 2008

From Mariam and Yves perspectives, there is little question that the Ivory Coast is in crisis, most especially the areas in which our Oikocredit offices operate. Despite this, Oikocredit remains open in Abidjan. Mariam writes, “The office is now operating according to the evolution of the situation. When we can open, the office is open from 9.30 to 14.30 and sometimes later.”

In addition to our Oikocredit staff members, we are following the situation developing for our project partner COCOVICO, located in Abidjan as well. COCOVICO, or the Coopérative de Commercialisation de Produits Vivriers de Angre, is a women’s cooperative market in Abidjan and one of Oikocredit’s greatest success stories. However, economic sanctions placed on the Ivory Coast in response to Gbagbo’s refusal to step down have in turn hurt the Ivoirian people’s ability to make a living. This has directly impacted the Cocovico Market, as summarized by Yves Komaclo last month in an Oikocredit-wide email:

“…[I]nternational sanctions in effect since the beginning of December 2010 have restricted port activities and trade with neighbouring countries. Moreover, increased road blockages set up by military and police forces as well as intermittent militias operations have had a detrimental effect on the transportation of people and goods within the country.

As a result, prices and availability of fruits, vegetables and other staple foods sold at Cocovico…have been erratic and unpredictable. … Some [women] told us because trucks were not allowed to reach Abidjan, that they would spend days without any new supply and without making any revenue. [I]n other situations, when the goods finally reached the market, they had to sell them the same day because they were too ripe to be conserved and unfortunately, low attendances in the market meant that they had to throw a substantial part of their stock with the concomitant losses.”

Yves added that Cocovico’s director, Rosalie Boti, is committed to ensuring that Cocovico remains open and serves the community despite hardships her merchants face. Yves writes, “Mrs. Boti and her members have been able to approach producers direct[ly] to arrange appropriate logistics to ensure that minimal supplies are regularly provided to the market, thus assuring the local community and consumers that fresh food will remain available at Cocovico.”

Oikocredit will continue to watch the situation in Ivory Coast with concern and admiration for our staff and partners.

As Oikocredit gears up for our upcoming event in Washington, DC this Friday, I find myself getting really excited. My anticipation has been mounting for a while, and not just because it’s going to be a great party (and everyone loves a party!). Considering all the press  surrounding microfinance lately, I’m particularly looking forward to this Awareness Party as an opportunity to engage in discussion at a much-needed time.

At Friday’s event, we will discuss microfinance through the lens of Oikocredit, Social Performance, and Green Innovation. Oikocredit USA’s Executive Director Terry Provance will present alongside Sharlene Brown of Grameen Foundation and Allison Archambault of EarthSpark International.  Our goal is to raise awareness of the inspiring developments which Oikocredit, Grameen Foundation, and Earthspark International have achieved.

Ever since I was introduced to microfinance in college I have been inspired by it.

Small loans to very poor people  have proven to be one of the most successful means of alleviating poverty in the world.  These loans facilitate new opportunities for the borrowers, such as business expansion, improved healthcare, and education. I think these facts have been overshadowed by current events in microfinance. (See Muhammad Yunus’ piece in the New York Times.) The debate about microfinance is ongoing and critics offer important insight into an ever-changing field. Still, the industry continues to improve lives and empower a large segment of the world’s poor, and we should not lose sight of this. Microfinance is also proving to be a hugely successful tool in post conflict regions like Haiti.

I, of course, am not quite as well-versed on the subject as our three esteemed guest speakers, and so I encourage everyone – from the slightly intrigued to the very much involved – to come and learn more. I promise it will be worth your time.

Please join us for drinks, discussion at 6pm on Friday, January 21, 2011 at One Lounge. If you would like to RSVP to Friday’s event, click HERE. We hope to see you there!

On October 17 and 18, Oikocredit’s Indian subsidiary Maanaveeya Holdings & Investments will bring together 80 microfinance institutions to discuss Social Performance management. The Symposium on Social Performance Management – 2010 aims to assist MFIs in refocusing on the social mission and providing advice in social performance management and the tools available. Oikocredit will share its approach and priorities in social performance management and capacity building, and offer resource-free ways for MFIs to begin improving social performance management immediately. To find out more about Oikocredit’s Social Performance Management, visit www.oikocredit.org/socialperformance.

‘OikoGifts’ honor a household, empower people, and allow people to give a gift that has meaning and a financial return

Washington, DC, April 8, 2010 – The season of Mother’s and Father’s Day, graduations and spring celebrations is here – and Oikocredit USA (www.oikocredit.org/sa/usa), one of the oldest microfinance organizations that help people invest in other people, is offering a special way to give a more meaningful gift with OikoGifts.

By giving a gift of a microfinance investment, for as little as $20 people can give a meaningful gift that honors the recipient in a unique way, and improves the lives of hardworking poor entrepreneurs in developing countries. The investment goes in the name of friends and family being honored, who earn the modest return rate as the loan is repaid.

“In Greek, the word Oiko means ‘house, community or world,’ and is core to our central belief in the power of households and communities to build a better world by lifting poor people from poverty,” said Terry Provance, Executive Director of Oikocredit USA. “Giving an OikoGift is a great way to honor someone in your household with a socially responsible loan, and help support the household of a hardworking entrepreneur in a poverty-stricken country.”

OikoGifts are a special way to honor Mom, Dad, or the grad in lieu of expensive and often forgotten gifts. It can teach a recent graduate about the power of socially responsible investing, and celebrates Moms and Dads for all they do by helping a hardworking poor person be all they can be through a small loan. When the loan is repaid, the gift recipient can lend again or withdraw the funds, creating a continuous way for people to invest in other people.

There are three ways to give an OikoGift:

• Click – through lending partner MicroPlace.com, for as little as $20, anyone with a computer, a check or PayPal account, and a conscience can invest in alleviating global poverty with an investment gift.
• Call – a call to the Oikocredit USA office at 202-728-4140 allows people a more direct way to give this meaningful gift.
• Write in – download an application form and prospectus at www.oikocredit.org, or write to PO Box 11000, Washington, DC 20008.

Oikocredit USA is one of a few microfinance organizations with transparency and environmental clauses, and supports 45 fair trade cooperatives on three continents. People know they can rely on Oikocredit USA as a role model for high ethical standards coupled with low financial risk and a solid return, making any gift a safe, easy way to do good for a Mom, Dad or grad.

Through Oikocredit USA, these microfinance loans directly help over 19 million people worldwide living in poverty become self-sufficient. Mothers can finally provide schoolbooks, healthcare and food for their children. And hardworking poor entrepreneurs can thrive, find dignity and respect in their communities. With nearly 3.5 billion people living on less than $2 a day, there is no limit to the amount of good that can be done with a microfinance loan.

4. Put Your Money Where Your Mouth Is

Thinking small works well when it comes to finance, too. In recent years, people have been embracing the idea of microloans — small investments, sometimes as little as $20, that can go a long way in helping people in some of the poorest parts of the world. One company leading the way is Oikocredit, which helps provide financing to trade cooperatives, fair trade organizations and small-to-medium enterprises in the developing world.

“As one of the world’s oldest and largest international microfinance organizations, Oikocredit currently reaches 19 million poor entrepreneurs in over 70 countries with small loans that help them escape poverty,” explained Terry Provance, executive director of Oikocredit’s U.S. office. “Oikocredit is also one of just a few microfinance organizations with transparency and environmental clauses, and supports fair trade cooperatives in 70 countries. Last year, Oikocredit USA — the U.S. operation for Oikocredit International — received over $4 million from U.S. investors.”

When it comes to the environment, microfinance may be able to play a significant role. “With roughly 3.5 billion people around the world living on less than $2 a day, it is impossible for the poor to escape the cascading effects of climate change such as increasing mosquito populations and malaria, and droughts that make growing food unfeasible. Microfinance–small loans to the world’s working poor–is one proven method for giving working entrepreneurs the tools they need to adapt to these changes, and to engage in sustainable practices to help minimize their impact on the environment,” said Provance. “For instance, the loans allow the poor to build assets and invest in sustainable business practices that protect the environment versus exploiting it for immediate and desperate gain, such as slash and burn farming or using water-needy pesticides to grow food. The ability of microfinance to positively impact the environment increases as more people are lifted from poverty, and can provide a sturdy future for themselves.”

Position: Admin/Outreach Summer Intern

Location: 1701 K St. NW Suite 650, Washington, DC 20006

Start Date: Flexible. General dates are Mid May to late August

Last Day to Apply: April 1, 2010

Languages: English

Hours: Flexible. Part-Time preferred

**This is an Unpaid Internship

About the Organization:

Oikocredit is one of the world’s largest sources of private funding to the microfinance sector. We also provide credit to trade cooperatives, fair trade organizations and small-to-medium enterprises (SMEs) in the developing world. We currently have $600 million in outstanding loans. $30 million of this comes from investments made in the USA.

We lend working capital to microfinance institutions (MFIs) all over the world. In turn, they dispense life-changing loans to the poor and disadvantaged, with a special emphasis on rural areas and women.

We offer a dual return to our investors: financial and social. In addition to earning modest financial returns, investors are secure in the knowledge that their money is being used to fight poverty, promote fair trade and respect our planet’s natural resources.

Oikocredit’s Washington DC office focuses on attracting investments and education about microcredit and global economic development. The DC office does not work to disburse loans.

Intern Summary:

We are looking for interns to help out in all aspects of our DC office. This includes administrative work, research, and outreach to schools, churches and people in the DC area.

Key Responsibilities:

• Oikocredit will be holding a few workshops in the fall of 2010.  One roll of the intern will be to help reach out to potential attendees and to work on agenda and materials. This will include researching groups and people that might be interested in this event and contacting them either over the phone or via mail/e-mail.
• Oikocredit USA is growing very quickly and we are always brainstorming ways to reach new audiences. The intern will be expected to research new avenues for Oikocredit. This will include following through with this research by initiating contact with new groups of people, setting up speaking engagements, and sending promotional materials. Two possible groups would be churches around the DC area and youth investors, who may be interested in our online investing forum: www.microplace.com.
• Oikocredit USA has recently created a new website and community hub (www.oikocreditusa.org). We also recently created a facebook page and twitter account. The intern will be asked to help update these sites with news stories and blogs on a daily basis.
• Administrative help: This includes database work and providing feedback on materials produced by other employees.

Qualifications and Requirements:

• Attention to detail
• Organized
• Some prior knowledge of Microfinance is helpful, however, we are willing to teach interns about microfinance if they can express their desire to enter this field
• Comfortable speaking to people over the phone
• Ability to work as a team member and independently
• Computer literate

Benefits:

• Flexible work hours
• Recommendations available upon satisfactory completion of internship
• Willing to introduce the right candidate to the microfinance field
• Oikocredit is international, well respected, and a leader in the microfinance field. Oikocredit is also one of the oldest Microfinance Investment Vehicles.

This is an unpaid internship for Summer 2010.

Send resume and cover letter to:

Oikocredit USA

Attn: Summer Intern Coordinator

PO Box 11000

Washington, DC 20008

E-mail: usa@oikocredit.org

Phone: (202)728-4143

Photo from Terry’s visit to Haiti in 2008 after the country was hit by 4 hurricanes

According to the Center for International Disaster Information (CIDI), the earthquake was centered approximately 15 kilometers west of Haiti’s capital, Port-au-Prince and registered 7.0 on the Richter scale. Afterwards, several severe shocks continued to hit the Latin American nation.

Fonkoze has been an Oikocredit partner for the past eight years and is the only Haitian microfinance institution (MFI) focused on rural financial services, providing clients with access to loans, savings products and technical training. In September 2008, four hurricanes struck Haiti in the space of three weeks. Despite the difficult conditions, Oikocredit was impressed by the organization’s resilience and approved a US $400,000 equity investment. USAID and DFID (UK Government) provided major grants to Fonkoze after the hurricanes. These grants, combined with Oikocredit’s investment, gave Fonkoze the support to again meet the needs of its microfinance clients. In the second half of last year, Fonkoze has strengthened as the economy slowly recovered. Oikocredit had also recently approved a loan of $1 million, which was almost finalized.

With this recent natural disaster, Oikocredit is extremely concerned for the people of Haiti and will continue to monitor Fonkoze’s situation closely, offering assistance and support wherever possible.

Updates to come.

Keep updated at: www.fonkoze.org

For the Bolivian company of Guaguazú S.A, the sustainable use of the native Cusi Palm is the key to success.

Guaguazú employs mainly indigenous women from the Guarayos region, who work in the gathering and processing of the Cusi nut. The objective of Guaguazú S.A. is to develop a sustainable industry around the fruit of the Cusi Palm in the small regions of Guarayan and Chiquitana in Santa Cruz.

At the same time, the organization undertakes economic activities and education with a focus on social impact and gender. The main goals are to avoid emigration to the cities, deforestation and forest burning.

The Cusi Palm is used to produce three organic products; oil, carbon and starch, and sub-products such as handmade cosmetics, animal feed and fibres and has the advantage of providing little wastage from the harvesting. With Oikocredit and Cordaid financing granted in 2008, Guaguazú will set up a Cusi Palm nut processing plant, which will also be used as a training centre for those involved in the project. For the first five years, it will create new employment for 543 women and 91 men in the areas of gathering, processing and handmade cosmetics.

Guaguazú has also received a capacity building package through the Solid House Foundation, with financial resources granted by Oikocredit through capacity building. The project will result in the construction of four houses with the purpose of showing the Guarayan community different housing options of designs, techniques and materials.

Guaguazú has been an Oikocredit project partner since 2008. A total of USD 475,000 (€ 325,905) in loans has been disbursed.