Opportunity International, Caterpillar Foundation Launch $1 Million Challenge to Boost Savings-Based Microfinance Programs

Opportunity International has announced the launch of a $1 million challenge grant designed to double the impact of corporate and small business contributions to the organization.

Through the end of the year, the Caterpillar Foundation will match new contributions or any gift in excess of a company's previous gift to Opportunity International, up to a total of $1 million. Donations from corporations and small businesses made through the initiative will be used to fund Opportunity International's various initiatives, including educational finance and rural and agricultural finance programs that are helping the working poor in sub-Saharan Africa, Mexico, India, Indonesia, and China achieve financial freedom, gain self-sufficiency, and feed their communities.

"Businesses have come to realize that they have an important, and even critical, roll to play in addressing many of the challenges that our world faces," said Caterpillar Foundation vice president Will Ball. "We are proud to be able to partner with businesses that are committed to solving complex and difficult issues, such as poverty, in supporting Opportunity International's efforts to provide savings-based microfinance services to the world's most marginalized citizens."