ECLOF to receive loans

Several partners, individuals and organizations who share ECLOF's vision have inquired about lending to ECLOF International to expand the capital available for lending. In response to this increasing demand, ECLOF International is to take loans in US dollars, Swiss francs or Euros to further its work. The loans would be returned at an agreed time.

A parish in Switzerland has already granted ECLOF an interest free loan on this basis. ECLOF has also received a similar loan from an individual.

These loans will be granted directly to national ECLOF committees (NECs) in highly dollarized economies. The NECs will in turn use the loans to make loans to their clients.

Back-to-back loans

The loans to ECLOF International will also be used, where possible, to take out local currency loans against a US dollar, Swiss franc or Euro deposit guarantee, or against foreign currency designated local bonds. Clients receive and pay back their loans in local currency, which avoids currency risk. Since the loan to ECLOF International stays in the organization's bank account in US$, CHF or €, ECLOF is also protected against currency risk in its obligation to repay lenders.

If you would like to make a loan to ECLOF or want more details of this scheme, please contact us (details, back page).