Friday, March 26, 2021
VisionFund releases its Annual Report for 2020
LONDON – 26 March 2021. VisionFund International released its Annual Report for the financial year ending 30 September 2020, recording efforts in supporting clients during a year of profound economic hardship in the midst of the COVID-19 pandemic. As of April 2020, COVID-19 was identified in all 28 countries where VisionFund operates, suspending both loan operations as well as the businesses activities of the thousands of families that the organisation served. Despite the many challenges and obstacles, the organisation stayed its course, rescheduling loans, providing deferments, and paying out savings and insurance. During the year, VisionFund served one million clients with a portfolio of USD $576 million, 70% of whom are women and 62% living in rural settings. “VisionFund has been impactful in empowering communities to overcome economic challenges for over 17 years, and we are proud to continue to support clients during the pandemic, especially with recovery lending efforts. With the challenges posed by COVID-19 and the increase in poverty levels, our services are needed by many, now more than ever,” says Edgar S. Martinez, President and CEO, VisionFund International. The VisionFund 2020 Annual Report (click here to download) highlights work carried out by its global network of 28 microfinance institutions across Africa, Asia, Eastern Europe, and Latin America. -ENDS- ABOUT VISIONFUND INTERNATIONAL VisionFund International, World Vision’s microfinance subsidiary, has been improving the lives of children in the developing world for over 17 years. By offering small loans and other financial services, clients develop successful businesses, enabling their children to grow up healthy and educated. In FY2020, VisionFund International’s network of microfinance institutions provided loans to one million clients, with nearly three-quarters of these going to women and over a third to clients actively involved in farming. Repayment rates were 98%. Also, in FY2020, 3.6 million children were positively impacted through its MFI network located across 28 countries in Africa, Asia, Eastern Europe, and Latin America.