In the summer term 2006, we visited Opportunity International and St Edward’s School, in Oxford, to assess the feasibility and desirability of BMS becoming involved in setting up a number of “banks” in areas of the world where there is deprivation.

A trust bank is set up with £5000, and exists to facilitate the development of cottage industries, which enable individuals to gain financial independence. We were delighted to read the details (see the report on the website) of our first bank in Nesarin Sayal, India, in Spring 2007. We are currently working on plans for fund raising towards our second bank in Ghana. We will have regular progress reports from Opportunity Iinternational and are planning more assemblies to raise the profile of this venture.

Established in 1971, Opportunity International is a pioneer and global leader in the provision of financial services and training to poor entrepreneurs in Africa, Asia, Eastern Europe and Latin America.

Microfinance is an effective solution to poverty, because it gives the poor access to basic financial services including small loans, savings, insurance and business training, which would otherwise not be available. This empowers them to create or expand a small business, which provides an income, the dignity of work and hope for the future for them and their families.

At the local level, Opportunity International lending programs are organised into Trust Banks - groups of 15 to 40 clients who jointly guarantee the group's loan and meet weekly with a loan officer to repay their loan and receive training in essential business practices.

Our repayment rates of 98% prove that the working poor are a good credit risk. Furthermore, money can be loaned out again and again, meaning that donations are constantly recycled.