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The Magazine of The Evangelical Lutheran Church in America

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Church group ups lending

At a time when financial markets are reeling from the global economic downturn, Oikocredit, a church-backed microfinance institution, increased its field investments by a third in 2008, offering loans to poor people often excluded by the commercial banking sector.

The World Council of Churches-related group became a partner with 15 million households, investing “$372 million in small, medium and large microfinance institutions,” Oikocredit officials said.

Total field investments were $473 million.


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