|
'Large
or small: all are welcomed!'
Demand
for ECLOF loans far outstrips capital available
That
is the strong message from ECLOF Director, Muhungi Kanyoro
and his colleagues in Geneva.
Increased
efficiency by National ECLOF Committees and a greater awareness
of the work of ECLOF has resulted in a rapid increase in demand
for loans. About 65% of the demand is met by the use of revolving
funds. However, due to increased requests for loans, there
is a great need for increasing fresh injection of capital
if ECLOF is to satisfy all those who apply and meet the necessary
criteria.
Annual
current contributions to the capital fund are running at around
US$2 million but demand next year is projected at US$4 million.
Says
Muhungi, "Contributions from large or small institutions,
groups or individuals: all are welcomed. Whether it is US$1
million from a corporate body or US$100 from an individual
or congregation. We could in fact use double the amount of
contributions we receive at present." |
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