Commitment to Action

Income Creation, Rural Ethiopia

Commitment by

A Glimmer Of Hope Foundation

In 2006, A Glimmer of Hope Foundation committed to providing $1,000,000 over 3 years in new grants to provide non-refundable revolving loan capital to Ethiopian Microfinance Institutions who will provide loans to remote and rural farmers, women, and small groups in agriculture and enterprise. In September 2008, A Glimmer of Hope granted a total of $1,000,573 through three microfinance partners in nine micro-finance, micro-irrigation, and micro-enterprise programs. The loans were disbursed to 2,350 borrowers in the first year, providing the capital necessary for these remote, rural entrepreneurs to lift themselves out of poverty. These funds will be repaid into a revolving fund, providing the necessary start-up capital for additional new entrepreneurs in these remote, rural communities for years to come.

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Overview
Summary

Commitment

Income Creation, Rural Ethiopia

Launched

2006

Est. Duration

2 Years

Estimated Total Value

$1,000,000

Region

Africa

Countries

ETHIOPIA

Commitment by

A Glimmer Of Hope Foundation

Partner(s) of the Commitment Maker(s)

Ted Stanley