$50-Million Pledged to Microfinance Group
September 25, 2006 | Read Time: 1 minute
John and Jacque Weberg, founders of a furniture store company in Bloomington, Ind., have pledged $50-million to Opportunity International, BusinessWeek magazine reports.
The Oakbrook, Ill., charity awards small loans to people in developing countries to help them start small businesses.
The Webergs decided to sell their furniture company 10 years ago and concentrate on philanthropy. They have donated to Opportunity International in the past but have never made such a large gift.
The money will go toward the group’s international effort to raise $1-billion by 2012 to help 50 million poor people in 30 countries work their way out of poverty.
Read The Chronicle of Philanthropy article on Opportunity International and other microfinance efforts.
