For the GBG Fund, the commitment to micro-lending goes back to the 1980’s before the Fund even existed. Former Chairman and CEO of GBG and also the founder of the GBG Fund, Andy Thorburn, already was an active supporter and donor to micro lending initiatives all over the world.
As someone who built his own business and experienced first-hand the ups and downs and challenges of traditional financial institutions, Andy determined even then that creating access to funding, especially for those who had none, would be one of his philanthropic priorities.
Today that principle still holds true. Empowering people to create and control their own financial destinies is the driving force behind the GBG Fund. Providing microloans across a broad range of businesses and countries and enabling new entrepreneurs and sole traders to secure their incomes and support their families is at the heart of the Fund.
A recent decision by the board to make the microloan initiative the priority program for the GBG Fund, will see the loan portfolio increase significantly.