Commitment to Action

Investment in Oxfam America and Grameen Foundation, USA

Commitment by

George Miller, Janet McKinley

Since 2005, Janet McKinley, retired Chair of The Income Fund of America, and her husband George Miller, retired Chairman of Capital Research Company, personally invested $10 million to support sustainable livelihood work at Oxfam America and to strengthen the delivery of microfinance through Grameen Foundation.
Through this commitment, McKinley and Miller hope to inspire others to join them in funding pilot projects and helping scale up Oxfam and Grameen initiatives to help more people escape poverty. Already, hundreds of thousands in some of the world's poorest countries have benefited from Oxfam initiatives to improve livelihoods and promote climate change adaptation, and from Grameen Foundation's programs to provide financing for MFIs, expand social performance and human capital management practices across the microfinance industry, and build a structured volunteer corps for the industry.
One opportunity for others to invest is in Oxfam's risk management program for poor farmers, which includes microinsurance, microcredit, microsavings and risk reduction activities. The innovation is to enable poor farmers to pay for insurance and gain access to risk management services through extra work on communal land--doubling the investment value, as the same money yields insurance and risk reduction simultaneously.

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Overview
Summary

Commitment

Investment in Oxfam America and Grameen Foundation, USA

Launched

2005

Est. Duration

6 Years

Estimated Total Value

$10,000,000

Region

Asia, Latin America & Caribbean, Africa

Countries

BANGLADESH, BOLIVIA, CHINA, ETHIOPIA, INDIA, MALI, MOROCCO, NIGERIA, PAKISTAN, PERU

Commitment by

George Miller, Janet McKinley