Elkarcredit makes it possible to transfer financial resources from the North to impoverished sectors in the South in order to contribute, from economic development, to the sustainable and integral development of these groups. The process implies obtaining funds from public and private institutions, cooperation agencies and individuals, and transferring them to Southern entities which will provide for the existing needs by means of loan granting.

 

We consider micro-credits to be a tool for Local Economic Development which, in combination with complementary cooperation programmes, may consolidate popular economies, improve the quality of life of impoverished individuals and groups and reduce their vulnerability. This Local Economic Development strategy is coordinated with Mundubat Foundation’s cooperation programmes, providing technical support and monitoring to the projects which deal with micro-credits.

 

As an association committed to a change in the world order, we intend to promote and establish an ethical and alternative Bank in this area, and to that end we carry out activities in support of FIARE S.L. and the future Savings and Credit Cooperative.