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The Companions in Jubilee Committee has adopted the following criteria to guide it in making grants:
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Is this project in a heavily indebted poor country (HIPC), identified for debt relief by the World Bank and IMF?
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Will this project increase the economic self-sufficiency of individuals and their families, through the support of micro-enterprise?
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Will the grant be made to an established intermediary organization that has a history of successfully lending money to citizens to support economic self-sufficiency? This organization needs to be able to report to the Committee, on an annual basis, the number of loans made, purpose of each loan, rate of repayment, and default rate.
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Will the Diocesan funds be segregated in their distribution, or will these funds become part of a larger pool of funds?
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What are the other funding sources of this project, if any?
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Would making this grant enable the organization or project to attract other funds?
Many of our grants have been made to projects referred to us by members of parishes in the Diocese who have personal knowledge and involvement with them. Others have come through contacts with Anglican bishops in poor countries. Some leads we have received through other well-established microenterprise funding agencies such as Oxfam, World Vision, the Grameen Bank, and Bread for the World. The committee receives information, evaluates the project, may request additional information (for instance about other funding sources, administrative overhead, and track record), and discusses possibilities for grants. All grantees must adhere to written terms and conditions of grant, which include reporting requirements.
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