What's CowFund?

Established in 2004, CowFund is an Australian not-for-profit initiative that aims to support the delivery of microcredit projects in developing communities in Asia.

Often the microcredit projects supported by CowFund involve the provision of cows and other livestock to needy families - hence the name 'CowFund'.

As our motto states, CowFund aims to offer disadvantaged communities "a hand up, not a handout". All CowFund programs are locally-designed, cooperative systems which ensure that investment made by individuals returns to themselves and their communities.

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What's microcredit?

Microcredit is a term used to describe a range of financial services that cater to the needs of the poor and marginalized - people often alienated from traditional lending institutions like banks.

Microcredit usually focuses upon small loans, small repayments and activities which immediately generate income from skills already possessed by the borrower. Since it was first developed in the 1970s, pioneered by the Grameen Bank in Bangladesh, microcredit has enabled millions of people in developing countries (especially women) to become self-reliant.

The UN General Assembly designated 2005 as the International Year of Microcredit, while in 2006, Grameen Bank founder Professor Muhammad Yunus and the Grameen Bank were awarded the Nobel Peace Prize "for their efforts to create economic and social development from below". See the Nobel Prize Committee's web site for further information.

Click here to review an excerpt from David Bornstein's 'The Price of a Dream: The Story of the Grameen Bank'. (Reproduced with permission of The Grameen Foundation of Australia.)


Above: Prof. Muhammad Yunus, founder of the Grameen Bank, accepts the 2006 Nobel Peace Prize

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What are the benefits of microcredit?

Successful microcredit initiatives serve to:

  • Give the poor access to much-needed financial services (e.g. small loans, insurance, savings plans), empowering participants to gain more control over their lives and earning capacities. This in turn promotes sustainable livelihood options and reduces the vulnerability of poor households through asset creation and the generation of immediate income.
  • Forge community alliances, particularly amongst women, of personal and professional support, e.g. 'self-help' groups which mobilize savings and become forums for discussing both business and social issues such as health, education and human rights.
  • Encourage savings, to establish a 'safety net' for the future. This ultimately benefits entire households, families and communities via improvements in nutrition and health, education and economic resilience. The Grameen Bank, the leading provider of microcredit in Bangladesh, reports that in less than 20 years, its members amassed a total of US$162 million in savings.
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Who's involved in CowFund?

CowFund was established in April 2004 by a group of diverse Australians, brought together by the Vincent Fairfax Fellowship, an 'ethics in leadership' program managed by the St James Ethics Centre in Sydney.

Although the members of the CowFund team come from all walks of life, we are united in our concern about the disparity of wealth and opportunity between the world's richest and poorest people. Meet the Aussie team here >

Our partners on the ground in Asia are:

  • International Development Foundation, Bangladesh
  • Grameen Koota, India
  • Maha Bhoga Marga, Bali, Indonesia
  • Kantha Shakthi, Sri Lanka

The program models delivered by our Asia partners differ from country to country - but all provide an opportunity for needy families to benefit from microcredit initiatives, often involving the provision of cows and other livestock and the development of small business opportunities.

NB. CowFund supports organisations which provide non-sectarian humanitarian assistance in Asia. Although in some cases our partners have religious affiliations, their humanitarian work reaches a broad spectrum of the communities in which they operate.

> Contact CowFund

> Review some Frequently Asked Questions about CowFund

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