This is discussion about The Working World - Argentina: Bringing Impact Finance to the World's Poor with Greater Deft and Less Debt.
This is a great initiative.
Could you share the number of cooperatives and groups in whom the WW has made investments, and how many new (or more permanent)jobs these have helped create? Which type of jobs?
We have made over 450 investments to 100 different cooperative enterprises for a total of almost US$3 million invested (with 98% of that repaid or on schedule). While working with us, these companies have added over 1,000 quality jobs. In a cooperative, getting a job means becoming a member and an owner, so the quality of job creation in cooperatives is typically quite high for the context.
We're really excited by these results, and the great success we've found with these innovative investment techniques are why we want to keep pursuing this project and scale it to a higher lever, creating jobs both in more places and in even greater amounts, including in primary economic activities like manufacturing.
Thanks for posting, hope this answered your question. Feel free to ask anything more!
Brendan and Team
I celebrate the fact that an initiative like The Working World Argentina, with such a great impact on job generations is being recognize and became finalist.
Hi Victoria, thanks so much for your congratulations, we're very excited about the how things have worked in Argentina, and also Nicaragua and the US, and we're extremely honored to have been chosen as finalists.
With the stagnation of middle class growth in much of the developed world and the increase in poverty the world over, we believe that quality job creation is one of the big challenges of the 21st century. The opportunity in Argentina to explore the possibilities of providing support to enterprises with deep stakeholder participation (like cooperatives) has been extraordinary, and we're definitely eager to share what we've learned and try to spread the possibility of ground-up, people-centric development.
Thanks again for your comments and interest!