CARE 2

CARE

 

CARE

CARE is a global nonprofit working to save lives, defeat poverty and achieve social justice. 

While CARE is most widely recognized for its 70+ years of work improving the livelihoods of people around the world, CARE is also a pioneer in successfully adopting market-based solutions to combat poverty.

With the founding of CARE Enterprises, CARE has structured a for-profit subsidiary dedicated to investment in social enterprises. CARE Enterprises not only benefits from a team of business and development experts aligned within CARE's global network, but from the institutional knowledge and resources CARE has created over decades of designing and implementing earned-income models that create economic opportunity for the underserved, including:

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Creating the world’s first Village Savings and Loans Association

In 1991, CARE harnessed the ancient practice of group saving when it launched the world's first Village Savings and Loans Association in Niger, a model that has been emulated by other organizations and that now serves 8 million global users, 4 million of which are through CARE programs.

 
 
 

Launching MicroVest, an asset management firm dedicated to applying a commercial framework to investing in unbanked and under-served markets.

MicroVest was founded in 2003 with the goal of building a financially sound asset management company that could demonstrate that investing in the aspiring middle class and their enterprises delivers good risk-adjusted returns. As of September 2016, their assets under management totaled $411 million invested in a diversified portfolio of companies in countries around the globe.

 
 
 

Founding, GROWING and selling Edyficar, a microfinance institution formed from the portfolio of micro-loan projects of CARE Peru. 

Edyficar is an example of the full cycle, and potential, of CARE's model of scaling social enterprises up to traditional markets. Founded in 1998, Edyficar provided essential financial services to low-income sectors across Peru. By 2009 its portfolio reached $194 million and was acquired by Banco de Crédito del Perú, Peru's oldest and largest financial institution, under whose control it still operates to this day.

 
 
 

Learn more about CARE on their website.

 

Photo Credits: Lucy Beck/CARE; Maxime Michel/CARE; Martina Deller/CARE