VisionFund celebrates 10 years of microfinance
VisionFund, the microfinance not-for-profit partner of global humanitarian charity World Vision, is to celebrate its tenth year of operation by honouring its clients throughout the year with a series of profiles celebrating their achievements.
“Microfinance is one of many poverty interventions that creates
lasting change for families and the wider community,” says Scott Brown, CEO,
VisionFund, the microfinance not-for-profit partner of global
humanitarian charity World Vision, is to celebrate its tenth year of operation
by honouring its clients throughout the year with a series of profiles
celebrating their achievements.
Founded in 2003, VisionFund was envisaged as a ‘global capital fund’
to manage a supply of lending capital that could be moved from country to
country in support of World Vision’s humanitarian efforts. The mission was
later expanded and today includes a network of microfinance institutions in 36
developing countries around the world including Africa, Asia, Latin America and
the Caribbean, the Middle East and Eastern Europe.
The first profile released concerns a family in the Philippines. In
2003, VisionFund provided a loan to Davina, a mother of six children in a
remote northern island of the Philippines. Her family had fallen into financial
difficulties as her husband was forced to take a job for less money due to ill
health. This resulted in their eldest daughter, Genevieve, having to
discontinue her education.
With a loan of US$70 from VisionFund, Davina started her own business
trading Sea Cucumbers for export to China. Over the last ten years, as a
result, she has managed to send all of her children to school, including
Genevieve (pictured above), who has graduated and is teaching at a primary
school while qualifying to teach at secondary level.
“We believe it’s our unique partnership with World Vision which makes
VisionFund’s work highly effective,” said Scott Brown, CEO, VisionFund. “I
have seen first-hand the results of our integrated approach, where microfinance
is one of many poverty interventions that creates lasting change for families
and the wider community. Working with communities to build economic
activities in a gradual and sustainable manner over a period of many years
enables them to adjust and develop, resulting in longer lasting change.”
The VisionFund anniversary campaign may be followed on its special
edition anniversary website.