APRIL 2007

Crafting a Livelihood
MEDA Trust connects you with entrepreneurs like Teresa and her son Orvin who make and sell religious figurines in Nicaragua. The courtyard of their house is full of small statues. With hard work and a microfinance loan they've been able to build their business. Watch video footage of their business

MEDA Convention 2007!
Toronto, Ontario will host MEDA's annual Convention with the theme "Trust in a World of Change". Mark November 1 - 4 on your calendar. Registration begins July 1. More Info
Mustard Seeds

Back in 1990 MEDA planted the seed for a Nicaraguan micro-credit program, called CHISPA. It was an immediate hit, but stable long-term funding was needed. Olive Branch, a Winnipeg association of 17 families who worked in community development and operated a Ten Thousand Villages store, pledged $30,000 over three years. This plus another large Winnipeg contribution leveraged funds from the Canadian International Development Agency (CIDA) to move the program forward.

By 1998 CHISPA had a dozen branches, 6,000 customers, $3 million in loans, and a solid bottom line. It grew into CONFIA, a bank offering deposits and home mortgages. It reached the point where the scale needed was beyond MEDA's means, and in 2002 it was sold and renamed Banco ProCredit. It has been spectacularly successful with a loan portfolio of $57 million to 55,000 clients.

A seed was planted, Olive Branch watered, and now there's lasting change for the poor of Nicaragua.

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