Summary
Goals
Approach
Result
Lessons
NOTS Foundation's intention was to raise €25 million for microcredit through the NOTS Microcredit Investment Fund.
A fairly standard investment fund was set up and promoted by a bank that wanted to strengthen its image in the field of sustainable and socially responsible business.
The result was €1 million instead of the €25 million we had hoped for. The reason was twofold: the bank's account managers did not expect such a product from this bank and, in addition, the account managers were not very enthusiastic about this product.
The project has given NOTS the idea to develop the NOTS Microcredit Bonds. The money NOTS earns from these bonds is used to provide study grants to underprivileged children in developing countries.
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