Announcements

Oikocredit International endorses MFTransparency and provides funding

Amsterdam, Netherlands (30 September 2008) - Oikocredit International (www.oikocredit.org), a pioneer in development financing, has announced its endorsement of MicroFinanceTransparency. 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 joins more than 100 others in the microfinance industry who have endorsed MFTransparency over the past two months.

In addition to its endorsement, Oikocredit announced its decision to also support MFTransparency with funding. This commitment has qualified Oikocredit as an Emerald level sponsor.

After signing the MFTransparency Endorsement form, Tor Gull (left), Managing Director of Oikocredit, shakes hands with Chuck Waterfield, Founder of MFTransparency

As one of the largest financiers of the microfinance sector worldwide, Oikocredit promotes ethical, sustainable, and socially responsible investments. Based in Amersfoort, Netherlands, Oikocredit currently supports over 475 microfinance institutions in Africa, Asia, Europe, and Latin America.

Oikocredit finds a close affinity between their 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.”

MFTransparency is rapidly scaling up its pricing transparency operations and would not be able to do so without the support and financial backing from organizations like Oikocredit International.