Oikocredit
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Oikocredit is a cooperative established by the World Council of Churches to offer microfinance in developing countries. "Started as a pioneer in the field of development financing, Oikocredit is today one of the largest financiers of the microfinance sector worldwide," it declares. "Oikocredit is one of the few ethical investment funds, which finances development projects in the South benefiting disadvantaged and marginalised people."
Founded by the WCC in 1975 as the Ecumenical Development Cooperative Society, Oikocredit has headquarters in Amersfoort, the Netherlands. As of the end of 2004 it had share capital of 203.5 million Euros and in recent years has offered a dividend of two per cent on investments. It reported that less than 10 per cent of the funds disbursed since 1975 had been written off.
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