British Government Recognizes Root Capital for “Achievement in Impact Investing” at the Financial Times/IFC Sustainable Finance Awards
FOR IMMEDIATE RELEASE
CAMBRIDGE, MA (June 14, 2013) –Root Capital received the British government’s Department for International Development (DFID) special award for achievement in impact investing at the Financial Times/IFC Sustainable Finance Conference in London yesterday.
The DFID Award for Achievement in Impact Investing recognizes pioneering investment funds that have a clear strategy to make financially sustainable investments that benefit the poor.
“Impact investment is playing a vital role in finding innovative and commercially viable solutions to some of the world’s most pressing challenges,” said Justine Greening, UK Secretary of State for International Development. “I want to see it become a leading source of innovative finance for emerging markets, using the immense creativity of the private sector to do what it has always done, compete – to push us all forward.”
Since 1999, Root Capital has disbursed more than $500 million in loans to more than 425 borrowers representing nearly 750,000 farmers and artisans in 40 countries in Latin America and Sub Saharan Africa maintaining a repayment rate of 98 percent amongst borrowers and a 100 percent repayment rate to investors.
“Root Capital is deeply honored to receive the DFID Award for Achievement in Impact Investing at this year's FT/IFC Sustainable Finance Awards, and be recognized alongside some of the world’s most visionary and principled financial institutions,” said William Foote, CEO and founder of Root Capital. “Working together, we have an opportunity to catalyze a financial market that can unlock prosperity for over 450 million smallholder farm families currently marginalized from the global economy.”