MICROCAPITAL BRIEF: Caterpillar Foundation Donates $19m to Opportunity International to Reach 17m People in Africa, Asia and Latin America

Opportunity International, a US-based nonprofit organization that provides financial services to poor people in 24 countries, recently announced that Caterpillar Foundation, the philanthropic arm of US-based equipment manufacturer Caterpillar Inc., has granted Opportunity two multi-year donations totaling USD 19.2 million [1]. The first commitment is a three-year, USD 10 million donation that will establish small business lending, savings services and financial training across nine countries in Sub-Saharan Africa. The second commitment is a three-year, USD 9.2 million donation that will be used to develop new strategies to serve people in Indonesia and Brazil and expand existing initiatives in China, India and the Philippines. The commitments reportedly will provide financial services to 16.7 million poor people through 2017 [2].

As of July 2012, Opportunity International had a gross loan portfolio of USD 515 million with operations in 24 countries. According to Guidestar, a US-based nonprofit research firm, Caterpillar Foundation reported total assets of USD 32.1 million and revenue of USD 50.9 million during 2011.

By Jennifer Young, Research Associate

About Opportunity International
Based in the United States, Opportunity International is a nonprofit organization that was founded in 1971. Opportunity International provides small business loans, savings, insurance and training to approximately two million poor people in 24 countries in Africa, Asia, South America and Eastern Europe. As of July 2012, Opportunity International reported a gross loan portfolio of USD 515 million.

About Caterpillar Foundation
Founded in 1952, Caterpillar Foundation is the philanthropic arm of US-based manufacturer Caterpillar Inc. The Caterpillar Foundation seeks to support environmental stability and access to education. According to Guidestar, a US-based nonprofit research firm, Caterpillar Foundation reported total assets of USD 32.1 million and a revenue of USD 50.9 million.

Sources and Additional Resources

[1] Information submitted by Sunshine Sachs to MicroCapital.

[2] Press Release, “Opportunity International Announces Two Grants Totaling $19.2 Million from the Caterpillar Foundation,” http://www.prweb.com/releases/2013/6/prweb10805420.htm

MicroCapital Story, April 8, 2013, “MICROCAPITAL BRIEF: Opportunity International, MicroEnsure Launch Savings-Linked Education Insurance Program, EduSave, in Malawi,” https://www.microcapital.org/microcapital-brief-opportunity-international-microensure-launch-savings-linked-education-insurance-program-edusave-in-malawi/

MicroCapital Story, March 18, 2013, “MICROCAPITAL BRIEF: Opportunity International Hires Temenos to Customize its Insight Software to Document Social Impact,” https://www.microcapital.org/microcapital-brief-opportunity-international-hires-temenos-to-customize-its-insight-software-to-document-social-impact/

MicroCapital Story, February 18, 2013, “MICROCAPITAL BRIEF: One Woman Initiative, Opportunity International Partner to Raise $50m for Microloans to Women,” https://www.microcapital.org/microcapital-brief-one-woman-initiative-opportunity-international-partner-to-raise-50m-for-microloans-to-women/

MicroCapital Story, January 23, 2013, “MICROCAPITAL BRIEF: Telenor Participates in Launch of MicroEnsure Asia, Opportunity International Sells Stakes in MicroEnsure to International Finance Corporation (IFC), Omidyar Network,” https://www.microcapital.org/microcapital-brief-telenor-participates-in-launch-of-microensure-asia-opportunity-international-sells-stakes-in-microensure-to-international-finance-corporation-ifc-omidyar-network/

MicroCapital Story, December 6, 2010, “MICROCAPITAL BRIEF: Opportunity International and Caterpillar Foundation Launch $1m Corporate Challenge to Alleviate Global Poverty Through Savings-Based Microfinance Programs,” https://www.microcapital.org/microcapital-brief-opportunity-international-and-caterpillar-foundation-launch-1m-corporate-challenge-to-alleviate-global-poverty-through-savings-based-microfinance-programs/

MicroCapital Story, December 1, 2006, “Caterpillar Foundation Provides $1.2 Million Grant to Opportunity International for Microcredit Investment in China and Africa,” https://www.microcapital.org/caterpillar-foundation-provides-12-million-grant-to-opportunity-international-for-microcredit-investment-in-china-and-africa/

MicroCapital Universe Profile: Opportunity International
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Opportunity+International

MicroCapital Universe Profile: Caterpillar Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Caterpillar+Foundation

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