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ICCO and Oikocredit affirm joint commitment to development

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14-07-2011

Amersfoort, 14 July 2011 - Dutch development agency ICCO and Oikocredit International have signed a five-year contract of cooperation for a total amount of EUR 15 million. The contract is a renewal of a long-standing partnership between the two organizations.

Marinus Verweij (left) and Rosalind Copisarow signing at ICCO’s office in Utrecht, the Netherlands

Key elements of the cooperation include capacity building support for agricultural projects, guarantees for riskier projects in value chain finance and the strengthening of social performance management in microfinance.

 

Through joint action planning the two organizations can present a more attractive offer to their partners. Both organizations also aim to intensify fundraising efforts.

Oikocredit operates with a network of over 35 offices worldwide, while ICCO has established a structure of seven regional offices covering operations in 42 countries.

This decentralized approach enables the two organizations to work closely on a local level and also fine-tune their non-financial support to microfinance institutions, producer cooperatives and small and medium enterprises.

Countries currently selected to start joint activities include Kenya, Mali, India, the Philippines, Bolivia and Guatemala.

Oikocredit managing director Rosalind Copisarow, is pleased with the renewed commitment.

“The cooperation with ICCO enables us to support our project partners through loans, investments but also in other areas where they need support such as finding new and innovative ways to create linkages between producers and consumers in developing countries and cut out middleman.”

Marinus Verweij, chair of the executive board of ICCO, welcomes this cooperation as a perfect fit to strengthen one of the key activities of ICCO to promote sustainable economic development.

‘’Together we have much to offer to our partners’’.

 

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