Global Partnerships Makes First Investments in Colombia
Monday, October 3, 2011
Global Partnerships (GP), a nonprofit social investor based in Seattle, Washington, and Managua Nicaragua, announced today that it has made its first loans to two partner organizations based in Colombia: Fundación Amanecer and Contactar. With the addition of these two partners to its portfolio, GP is supporting the work of 33 microfinance organizations and cooperatives in eight countries in Latin America, including Bolivia, Colombia, Ecuador, El Salvador, Honduras, Mexico, Nicaragua and Peru.
“By investing in the innovative work of Fundación Amanecer and Contactar, we are helping poor and underserved populations in Colombia access critical services to help them earn a living and improve their lives,” said Mark Coffey, Chief Investment Officer of Global Partnerships. “We are excited to help these organizations increase their impact in Colombia, which is one of the most populous countries in Latin America and which faces unique challenges in fighting poverty.”
In late August, 2011, Global Partnerships made its first loan to a Colombian partner, $1 million to Fundación Amanecer, a small, growing microfinance institution (MFI) that is helping jump-start a more diverse economy in Orinoquía, a region of central-east Colombia that has been heavily dependent on the petroleum industry.
Fundación Amanecer, a nonprofit, serves 4,200 people with a combination of microloans and micro-entrepreneurship education to help its clients boost their skills and income. For example, it offers a curriculum in computer literacy, technical assistance for farmers and job-skills training in fields such as clothing manufacturing, shoemaking, baking and carpentry.