Oikocredit Canada Newsletter
May 2020

Oikocredit News and Updates

 

#GlobalSolidarityMatters

Oikocredit Canada is pleased to support the #GlobalSolidarityMatters campaign, launched by the Ontario Council for International Cooperation as an online platform to raise public awareness and support for increased international cooperation and humanitarian response to the Covid-19 pandemic. As a cooperative with dedicated global networks of professionals, volunteers, and member organizations, Oikocredit brings together thousands of people who share the goal of improving the quality of life of low-income people in a sustainable way. Global crises test our resilience and require us to innovate and collaborate not only to deal with the emergency at hand but also to recover and rebuild more sustainably and equitably. As the Covid-19 pandemic develops, we are closely monitoring and responding to the situation and providing regular updates on the Oikocredit International website.  In this #GlobalSolidarityMatters edition of our newsletter, we highlight important steps that Oikocredit is taking to work in solidarity with our global peers and partners to empower and support those who are most vulnerable to the effects of this pandemic. 

Covid-19 updates page >
 

Oikocredit foundation creates coronavirus solidarity fund

With more government measures in place to combat the spread of Covid-19, many small businesses in Africa, Asia, and Latin America are struggling to find the means to comply with regulations. The Oikocredit International Support Foundation has created a coronavirus solidarity fund to support end clients of Oikocredit’s microfinance partners in meeting the new regulations that would allow their businesses to stay open. 

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Oikocredit launches online platform for partners, "Learning from Leaders: a Cup of Coffee with..."

"We are supporting our partners, offering webinars, resilience testing and business continuity planning, and informal virtual meetings to hear from those responsible on how they are leading their organisations through the crisis. We want to provide a platform where we can exchange ideas and learn from each other," says Hans Perk, Regional Director Africa. 
The first edition was held by Dr Godwin Ehigiamusoe, Managing Director of the Nigerian microfinance bank LAPO, which received its first loan from Oikocredit last year. Some 50 Oikocredit partners from East and West Africa, the Philippines and Cambodia, as well as Oikocredit staff joined the conversation.

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Nine impact investors agree on coronavirus coordination principles

Oikocredit together with BlueOrchard, Developing World Markets, Incofin, Microvest, responsAbility, Triodos, Triple Jump, and Symbiotics have signed a memorandum of understanding for debt refinancing coordination principles, to support the sector during the Covid-19 pandemic. These nine impact investors have about USD 15 billion of assets under management in more than 80 emerging and frontier markets across Africa, Asia, Eastern Europe, Caucasus, Central Asia, and Latin America. This coordination effort aims to provide ongoing refinancing in a responsible manner to the microfinance and SME finance institutions that they fund.

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Development Education and Public Engagement

We are working to engage with Canadians and Canadian organizations about investment, development, and Oikocredit's work around the world. At the heart of Oikocredit are the people who make it possible. Dedicated networks of professionals, volunteers and member organizations are key to Oikocredit's success. Please contact us if you're interested in being an active part of our network by having Oikocredit at your next (likely virtual!) event as a co-host or speaker or to discuss any other ideas you may have.

 

45 Years of Social Impact Investing

"In 2020 Oikocredit will celebrate its 45th anniversary. When Oikocredit was founded in 1975, the concept of impact investing was unknown, and we are proud to have been a catalyst in the exponential growth of this market that’s now estimated to be worth US$ 239 billion1. Today, 45 years on, we remain true to our focus on social impact."
-Thos Gieskes, Oikocredit Managing Director

 
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