London, 05 September 2017, VisionFund International today announced strong annual growth for financial year ending 30 September 2016.
With a gross loan portfolio of $509 million, representing growth of 18% year on year, VisionFund’s micro loans, expert advice and training helped more than 1.2 million clients to grow or improve their fledgling businesses to provide their families with nutritious food, health care and pay the fees to send their children to school. During 2016, almost 4.3 million children were positively impacted through this work.
Across the globe more than 1.44 million loans were disbursed with a repayment rate of 97.9%, despite the macroeconomic situation in Azerbaijan and the continued weather shocks in Africa. These loans resulted in the creation of an additional one million jobs.
Christopher Laurent, CFO comments, “Since 2012 we have been actively helping our clients to thrive through our lending, training and micro insurance products. In this time, we have seen a 50% increase in the number of active borrowers accessing our loans and during 2016, through our management of a $16 million grant portfolio we have brought in $5.5 million of additional funding to better serve our clients.”
The VisionFund 2016 Annual Report highlights work carried out by its 31 microfinance institutions across the globe to help move low-income families out of poverty by helping them to help themselves.
ABOUT VISIONFUND INTERNATIONAL
VisionFund International, World Vision’s microfinance arm, has been improving the lives of children in the developing world for more than a decade. By offering small loans and other financial services to families living in poverty, its clients develop successful businesses, enabling their children to grow up healthy and educated. In 2016, VisionFund International MFIs provided 1.4 million loans, with nearly three-quarters of these going to women, and over half to clients actively involved in farming. Repayment rates were 97.9%. Also in 2016, almost 4.3 million children were impacted through its MFI network located across more than 30 countries in Africa, Latin America, Asia, and Eastern Europe. For further information please visit VisionFund.org