Rotary welcomes the news that the charity Opportunity International UK (OIUK) has been selected for financial support by the UK government as part of its overseas aid programme. Rotarians in the Oxford area and other clubs around Great Britain, Ireland and France, have been working with OIUK and the Rotary Club of Lilongwe in Malawi for the last eight years supporting their micro finance programme. During that time they have donated over £120,000 to the charity, which provides affordable micro loans to enable people to lift themselves out of poverty by starting their own businesses.
The micro finance scheme is administered through OIUK’s own accredited bank in Malawi, which gives loans to individuals of between $60 and $70 to invest in a business. The borrower is allowed three or four months to repay the loan so that they have a chance to get on their feet and once it has been repaid they can apply for another.
Money matched and recycled
Paul Rogers of the Rotary Club of Faringdon & District said: “We are delighted that OIUK is to receive UK government support which means that all donations to Opportunity International between 26 November and 26 February 2015 will be matched by the UK government pound for pound. Since we have been working with OIUK microfinance, thousands of people’s lives have been improved by being given a helping hand to start and run their own business. The beauty of the project is that when the money is repaid it can be lent again. So money donated is recycled time and time again helping literally thousands of individuals and their families and with the government match funding we will be able to help even more.”
