London, 16 August 2018: VisionFund International today released its Annual Report for the financial year ending 30 September 2017 registering strong growth and impact.
With a gross loan portfolio of $601 million, representing growth of 18% year on year, VisionFund’s micro loans, financial services, expert advice and training helped more than 1.2 million entrepreneurial clients grow or improve their fledgling businesses to provide their families with nutritious food, health care, education and improved shelter. During 2017, more than 4.4 million children were positively impacted through this work.
Across the globe more than 1.47 million loans were disbursed with a repayment rate of 97.4%, despite the macroeconomic situation in Azerbaijan, microfinance interest rate caps in Cambodia and the continued weather shocks in Africa and Latin America. These loans resulted in the creation of an additional 1.37 million jobs.
Michael Mithika, President & CEO comments, “We have seen from the recent World Bank Global Findex report that the most vulnerable people still remain vulnerable with women from developing countries being nine percentage points less likely than men to have a bank account. It is heartening to know that VisionFund’s work in the developing countries is focused on these people. During 2017, we provided financial support and education to our clients and lent them almost $837 million to help improve their livelihoods and support their children in line with our strategic aim to provide brighter futures to vulnerable children.”
The VisionFund 2017 Annual Report highlights work carried out by its 30 microfinance institutions across the globe to move low-income families out of poverty by helping them 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, its clients develop successful businesses, enabling their children to grow up healthy and educated. In 2017, VisionFund International MFIs provided 1.47 million loans, with nearly three-quarters of these going to women and over a third to clients actively involved in farming. Repayment rates were 97.4%. Also in 2017, over 4.4 million children were positively impacted through its MFI network located across 30 countries in Africa, Asia, Eastern Europe and Latin America.
For more information contact: email@example.com