Opportunity International, a US-based microfinance organization, and the Caterpillar Foundation, the charitable arm of heavy equipment manufacturer Caterpillar Inc., have launched a USD 1 million challenge grant that will match donations from corporations and small businesses to Opportunity International.
Caterpillar Foundation will match new donations and those that exceed previous donations by an entity to Opportunity International dollar-for-dollar, up to USD 1 million.
By Witt Gatchell, Research Associate
About Opportunity International:
Based in the United States, Opportunity International provides small business loans, savings, insurance and training to approximately two million impoverished people in 24 countries in Africa, Asia, South America and Eastern Europe. As of year-end 2009, Opportunity International had total assets of USD 567 million, a gross loan portfolio of USD 388 million and 1.3 million active loans.
Sources and Additional Resources:
[1] Press Release: “Opportunity International and Caterpillar Foundation Launch $1 Million Corporate Challenge to Help Alleviate Global Poverty Through Savings-Based Microfinance Programs” http://www.marketwatch.com/story/opportunity-international-and-caterpill…
MicroCapital’s Microfinance Universe profile: Opportunity International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Opp…
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