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First MFTransparency’s endorsement in the Netherlands

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16-10-2008

Oikocredit and MFTransparency: close affinity

 

On 4 October Oikocredit endorsed, as first Dutch-based organization, MicroFinance Transparency and announced a donation of € 20,000 in this initiative. MFTransparency’s mission is to be the venue for the microfinance industry to publicly demonstrate its commitment to pricing transparency, integrity and poverty alleviation.

 

Oikocredit is committed to the creation of a more just society worldwide. As a promoter of ethical investments, Oikocredit mobilizes financial resources to support enterprises that seek to create jobs, generate incomes and enable people to make choices to improve their lives. We see solid social performance as the first step towards achieving a positive social impact. Transparency is a component of social performance. The endorsement of MFTransparency is to be seen in the light of promoting social performance management among our microfinance partners.

 

Tor Gull (left), managing director of Oikocredit signs MFT Transparency Endorsement, here with Chuck Waterfield, founder of MFTransparency.

 

There is a close affinity between Oikocredit’s corporate values and MFTransparency’s mission. “We believe that transparency on pricing will indeed contribute to building a healthy and vibrant microfinance market and will help ensure that costs of financial services to the poor are clear and fair,” says Ging Ledesma, manager of the Monitoring & Administrations Unit at Oikocredit. “The financial education component of MFTransparency’s mission is one that is also fully consistent with Oikocredit's mission of empowering the poor.”

 

Besides Oikocredit, over the past two months, more than 100 others in the microfinance industry endorsed MFTransparency. Thanks to this broad support and the financial backing of organizations like Oikocredit, MFTransparency has been able to rapidly scaling up its pricing transparency operations.

 

 

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