Empowering Individuals in the Global Community Through Entrepreneurship
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Whole Planet Foundation partners with Silverton Foundation and Moris Rasik in various regions of East Timor where Whole Foods Market sources coffee. Moris Rasik (MR) is a microfinance program, which has been operating in East Timor since November 2000 and follows a modified version of the Grameen Bank methodology of microfinance. MR is the largest and most effective microfinance program in Timor, in outreach, portfolio size and portfolio quality. MR had an active client base of over 10,000 at the beginning of 2008. Its portfolio was $2.24M and it held over $780K in client savings. In August 2007 it broke even for the first time, and ended 2007 with an operating profit of $22,000. MR is having a macro impact on the East Timorese economy, and is instrumental in stimulating the overall development of its rural economy.
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