Macquarie Generates Support For Cambodia
Macquarie Generates Support For VisionFund Cambodia
2nd October 2006 - Macquarie New Zealand has presented a cheque for $210,000 to World Vision’s VisionFund Cambodia which will go towards helping entrepreneurial poor people in Camboida get a start in business.
Macquarie New Zealand’s sponsorship will be allocated to the Ksach Kandal area, one of the poorest districts in the Kandal province in south eastern Cambodia.
The Head of Macquarie Financial Services Group New Zealand, John Rowley, said the money was made available through an arrangement with the Macquarie Generator Bond Fund.
“The Macquarie Financial Services Group in New Zealand has already supported a number of New Zealand charities,” Mr Rowley said.
“We believe it is our responsibility, as a member of the New Zealand community, to be a part of the solution for some of the social and health issues that require financial assistance.
“We also actively support international charities and VisionFund Cambodia is so aligned to our ideals as a business that we are very enthusisastic about working through World Vision to help the Ksach Kandal people to help themselves.”
VisionFund Cambodia is focused on partnering with poor families as they work to establish secure, healthy and dignified lives and the financial assistance provided to them help the poor to make their dream a reality.
VisionFund Cambodia provides the poor with micro-credit and appropriate mentoring to help them transform from a life of poverty to having self-sustaining enterprises
Through the loan programs with VisionFund Cambodia, families are now being able to provide enough food for their children, savings for emergency needs, afford medical care for their family, build up their businesses, most importantly send their children to school.
As their financial prospect grows, families will have more options and can even access more advance credit markets.
Mr Rowley said the Macquarie Generator Bonds was a market first, offering a combination of credit rating and returns by using investment options that were previously only available to retail investors outside of New Zealand.
“When we launched Generator Bonds we made it very clear that a significant amount of the returns would be donated to charity,” Mr Rowley said.
“We have a strong working relationship with World Vision and encourage our staff to individually become involved as World Vision supporters by sponsoring children and making donations.
“By linking our business with World Vision we are expanding our involvement with worthy charities that aim to help people to become self sufficient.
“Macquarie is already an Australasian leader in institutional philanthropy, Macquarie New Zealand is now a major contributor to that goal.”