Investment Expertise to Help Channel Impact Capital from the US into Low-income Countries
FOR IMMEDIATE RELEASE
May 26, 2021 -- Seattle -- Oikocredit US today announced the election of six new members to its board of directors, bringing the board’s size to 14, with a seventh new director to replace a retiring director at year-end. This influx adds investment-related expertise to the board as the national nonprofit organization is launching a recoverable grant product this month to galvanize philanthropic capital from values-driven US investors into high-impact, ethical investments in Latin America, Africa and Asia.
“We are absolutely delighted to have such an exceptionally qualified slate of new directors bolstering our governance capabilities at this inflection point for Oikocredit in the US,” remarked Oikocredit US Board Vice President Antoinette Kenmuir-Evans. “With backgrounds at organizations from the Bill & Melinda Gates Foundation to the US Development Finance Corporation (formerly OPIC), they bring valuable institutional grantmaking and impact investing experience critical to our mission and success.”
Full details are at www.OikocreditUS.org/our-team. The newly-elected directors include:
“The addition of these new directors is tremendously enhancing the caliber and effectiveness of our team,” said Oikocredit US CEO Matt Eldridge. “As our recent 6-month study revealed, US interest in impact investing into low-income countries is growing exponentially, despite the pandemic. We are now well-positioned to help people and organizations bring about a more just and sustainable world.”
As the US affiliate of the 45-year-old global cooperative Oikocredit International, one of the leading institutional investors in microfinance, Oikocredit US emerged in 2017 from the merger of two smaller Oikocredit affiliates in the US. With a 34-year track record and more than 1,200 stakeholders in 33 US states and the District of Columbia, the nonprofit has been actively developing ways for people and entities in the US to participate in the Oikocredit cooperative’s impact in low-income countries.
Starting this month, Oikocredit US is accepting recoverable grants from foundations, faith-based organizations, and individuals with donor-advised funds. The organization intends to invest these grant proceeds into Oikocredit International shares which fuel high-impact investments in Latin America, Africa and Asia, and to return the grants after an agreed-upon term. More details are at www.OikocreditUS.org/RecoverableGrants.
About Oikocredit US
Oikocredit US is an independent 501(c)(3) nonprofit organization and the US affiliate of Oikocredit International, a worldwide cooperative and financial institution that promotes sustainable development by providing investment capital and technical support to microfinance institutions, cooperatives, fair trade organizations, and small to medium-size enterprises. We seek a triple bottom line: modest financial return, and strong environmental and social impact.
As an impact investor, Oikocredit's work is guided by the principle of empowering people to improve their livelihoods. Oikocredit International offers loans, equity investments and grants to our partners. Through 34 regional and country offices, Oikocredit nurtures strong local networks and relationships that support our partners and clients. Oikocredit International’s $1.4 billion in investments focus on low-income households and communities in Latin America, Africa and Asia. For more, visit www.OikocreditUS.org.