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World Relief, World Relief Canada and HOPE International partner with Opportunity International to.. |
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Written by Justin Forman
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Saturday, 25 August 2007 |
 KIGALI, RWANDA – The world’s leading Christian organizations supplying microfinance and microenterprise development to the poorest of the working poor today announced a historic partnership by merging operations in Rwanda to open a microfinance bank for the poor in a country that is making steady progress and often great strides in rebuilding and reunification.
The Urwego Opportunity Microfinance Bank (UOMB) of Rwanda, headquartered in the central district of Kigali, will open a new banking hall using state of the art technology in early fall. The combined operation has offices in 27 of the 30 districts in Rwanda, more than 28,000 loan clients and over 3,000 savings clients. UOMB has $4.5 million in equity capital and a loan portfolio of $1.7 million.
The partnership includes World Relief, a Baltimore-based agency that specializes in rebuilding communities in the aftermath of war or natural disaster. World Relief has operated Urwego Community Banking, the first and largest microfinance institution in Rwanda, since 1997. World Relief Canada and HOPE International have been financial partners in Urwego for several years. "Microfinance has played a key role in building peace and reconciliation through trade as Rwanda continues to recover from the horrors of the genocide," said Sammy Mah, president of World Relief. "Ten years ago, while others focused on relief work, we led with microfinance activities believing that was the best way to overcome poverty, instability and conflict in Rwanda."
Opportunity International is the final leg in the partnership, bringing financial and technology expertise in the operation of the new bank. Over the next 12 to 18 months, UOMB expects to further expand banking operations across the country using innovative technologies to enable poor Rwandans easy access to safe and secure financial transactions.
Click here to read the full article.
Original content at: http://www.businessasmissionnetwork.com/2007/08/world-relief-world-relief-canada-and.html.
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Last Updated ( Tuesday, 04 September 2007 )
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