A privately-owned international cooperative society called Oikocredit recently mapped out future plans of strengthening their fair trade campaigns around the world with special focus on developing countries like the Philippines.
“Oikocredit is present in fair trade work worldwide, we are active in fair trade financially and shares fair trade values as well and to provide more exposure for fair trade products, we will explore opportunities to provide more customer awareness and launch an aggressive fair trade campaign next year,” revealed Oikocredit’s Communication Project Manager Tanja Voet in an interview.
Oikocredit started as a pioneer in the field of development financing and today it is considered as one of the largest financiers of the micro finance sectors worldwide. It is also one of the few ethical investment funds as it finances development projects in the South which benefits disadvantages and marginalized people.
Instead of donations, they give-out loans because they believe that when it comes to economic productivity and self reliance, loans are a more efficient instrument than just grants.
Oikocredit is able to provide loans between 50, 000 Euro to 2, 000, 000 Euro and these loans are channeled through a network of Regional offices spread across Latin America, Asia, Africa, Central and Eastern Europe and managed by local professionals.
In the Philippines, they are focused on funding three developmental projects that are at the same time advocating fair trade principles. One of which is the tobacco plantation in Luzon, mango production in Cebu and sugar farming in Negros.
Oikocredit already have about 37 partners spread across Luzon, Visayas and Mindanao and have helped different types of industries from agriculture livestock, fisheries, healthcare, construction, real estate, manufacturing and financial institutions.
Southern Partners and Fair Trade Corporation (SPFTC) which is based in Cebu is one of the loan beneficiaries of Oikocredit and the institution have lent about 78, 000 US dollars for their mango processing plant. SPFTC exports fair trade mango products to countries like Europe and Japan.
Its representative Geraldine Labradores said that the financial aide that Oikocredit gave them went a long way to help the efforts of small producers and have access to markets abroad.
Voet discussed that Oikocredit provide loans to fair trade partners in their development projects since they are ensured that these causes are financially and socially viable and benefits the disadvantage sectors in the community.
Voet came all the way from Holland along with Oikocredit personnel from its church partner and regional office in Manila and visited mango farmers and plantations in Danao and Minglanilla for a study tour.
Through their short exposure in the country, Voet have noted that, “it is very heartwarming that Oikocredit have gone a long way in terms of generating jobs and helping marginalized sectors in this country and helping fair trade products get access to foreign markets.”
Oikocredit has 276 million Euros in capital and a total “lendable fund” of about 286 million Euros. They sourced their capital from around 500 churches and church organizations, over 27, 000 individuals and local organizations through 37 support associations in 18 different countries and from more than 50 banks, development organizations, foundations and 43 project members worldwide. – Rhia de Pablo