NPCA has raised nearly $1 million in Microlending program



The National Peace Corps Association (NPCA) and Bethesda-based Calvert Social Investment Foundation (Calvert Foundation) announced today that the MicroEnterprise Program (MEP), offered through a cooperative agreement between NPCA and the Calvert Foundation, is now at $976,000 and expected to reach the $1 million mark this fall. Capital raised through this NPCA program exemplifies the Returned Peace Corps Volunteer community's ongoing commitment to aiding the developing world. The NPCA's MEP investments are made through the purchase of Community Investment Notes issued by Calvert Foundation. The MEP is unique among Calvert Foundation's collaborative initiatives in that 100% of dollars invested are put to work in micro-credit programs in developing countries in consultation with the NPCA.

NPCA has raised nearly $1 million in Microlending program

Calvert Foundation: Returned Peace Corps Volunteers' Microlending Initiative Nears $1 Million Mark

Posted : Thu, 13 Sep 2007 15:01:36 GMT

Author : National Peace Corps Association, Washington, D.C. and Calvert

Category : PressRelease

WASHINGTON, Sept. 13 /PRNewswire-USNewswire/ -- The National Peace Corps Association (NPCA) and Bethesda-based Calvert Social Investment Foundation (Calvert Foundation) announced today that the MicroEnterprise Program (MEP), offered through a cooperative agreement between NPCA and the Calvert Foundation, is now at $976,000 and expected to reach the $1 million mark this fall.

Capital raised through this NPCA program exemplifies the Returned Peace Corps Volunteer community's ongoing commitment to aiding the developing world. The NPCA's MEP investments are made through the purchase of Community Investment Notes issued by Calvert Foundation. The MEP is unique among Calvert Foundation's collaborative initiatives in that 100% of dollars invested are put to work in micro-credit programs in developing countries in consultation with the NPCA.

Calvert Foundation Executive Director Shari Berenbach said: "The National Peace Corps Association's MicroEnterprise Program gives investors a truly unique opportunity to have their investments put to work to break the cycle of poverty in developing nations. Every dollar invested in Community Investment Notes through the MicroEnterprise Program is lent to programs that directly benefit the poor in developing countries while earning a financial return. A minimum investment of $1,000 serves as a source of loan capital for the MicroEnterprise Program's partner organizations hard at work in 36 developing nations."

NPCA MicroEnterprise Program Chairman Helene Dudley said: "Almost half the world's population, 2.8 billion people, live on less than $2 a day. Of these people, 1.2 billion live on less than $1 a day. They are trapped in poverty so severe that they cannot adequately feed, clothe, or shelter themselves or their families. So far, more than 30 million micro- entrepreneurs have benefited from microcredit and have used their loans to increase their incomes and lift their families out of poverty. These are promising results, but it is estimated that over 600 million people could greatly benefit from microfinance. The NPCA MicroEnterprise Program allows our members to make a real difference in the lives of thousands of people and families around the globe."

Capital raised through the MEP program makes affordable capital available to organizations such as Alterfín, FINCA and the Women's World Banking Network. With micro-credit loans dispensed to recipients at an average of $300 over three months, recipients have the potential to assist multiple families over the term of the investment (from one-10 years).

ABOUT CALVERT FOUNDATION

For over 10 years, Calvert Foundation, a nonprofit 501(c)(3) organization, has been working to make community investment a safe and logical option for all investors seeking to make a positive social impact. To make community investment accessible to a wider audience, Calvert Foundation has removed critical barriers by creating investment products such as the Calvert Community Investment Note that blends both financial and social returns. With more than $150 million in assets, Calvert Foundation focuses on using investment capital, rather than conventional philanthropy, to create a sustainable, scalable model that enables nonprofit organizations and social enterprises to address critical social problems.

ABOUT NPCA

The National Peace Corps Association (http://www.peacecorpsconnect.org/mep) was founded in 1979 and incorporated in 1983 as the national association to connect, inform and engage people impacted or inspired by Peace Corps. It is a nonprofit 501(c)(3) organization encompassing a network of over 30,000 individuals and more than 130 member groups. The NPCA and its member groups produce global education programs and advocacy campaigns, and provide community, national and international services.

It is governed by a board of directors, and is managed by a professional staff with headquarters in Washington, DC. It is not a part of the United States Peace Corps, which is a federal agency.

National Peace Corps Association, Washington, D.C. and Calvert


Copyright © 2007 PR Newswire. All rights reserved.

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