17 december 2005
Triodos-Doen boosts microcredits in Argentina
Since its inception in 2004, Argentina Microfinanzas in Mendoza has provided some 1,400 microcredits to people who are beyond the scope of the traditional commercial banks. Marilou van Golstein Brouwers, managing director International Funds at Triodos, who joined the Dutch Princess on her Latin American tour early December: "Millions of Argentinean small entrepreneurs do not have any access to financial services. The market for microfinance is only just emerging in Argentina. We expect to see a strong growth in the next few years."
The Triodos-Doen Foundation is one of the international funds, managed by Triodos Bank, aiming at stimulating sustainable change in an entrepreneurial way. It has a portfolio of 26 million euro. Triodos-Doen contribution to Argentina Microfinanzas will start out as a convertible loan, that can eventually turn into shares.
The United Nations have proclaimed 2005 the International Year of Microcredit, hoping to boost joint efforts of governments, banks , businesses and NGOs to make microcredits accessible to everyone, as it is believed to be a powerful means in poverty reduction. Looking back at the UN Year of Microcredit, that has officially been closed in November in New York, Marilou van Golstein Brouwers is quite satisfied: "The message has come across that it is perfectly possible to have a business relation with poor people. Microcredit helps alleviating poverty, but not based on charity."
Triodos Bank and the DOEN Foundation have been involved in the microfinance sector for the last ten years.
P+ Webtip: Triodos-DOEN