Operations
Microcredits help alleviate
poverty
At the end of 2006, Rabobank acquired 49%
of the shares in Zambia National Commercial
Bank. Rabo Development provides the
management and has committed itself to a
three-year Technical Assistance programme.
In addition, an agreement was signed with
United Rural Co-operative Bank of Hangzhou
(URCB) in China for the acquisition of a 10%
share in this Chinese bank.
Also in 2006, the Tanzanian National
Microfinance Bank (NMB), in which Rabobank
has had a 35% interest since 2005, expanded its
network by adding a number of branch offices
and upgraded it, for example by taking the first
cash dispensing machines into operation.
Rabobank Group's policy of sustainable
operations focuses on reducing the amounts
of materials and energy required, for example
by energy savings and sustainable car lease.
In parallel, it works to improve the quality or
sustainability of both input (including the
procurement of green power and FSC paper)
and output (e.g. soot filters on diesel cars and
waste management).
For more information
www.rabobank.com
Microcredits were in the
spotlight in 2006, when the
Nobel Peace Prize was awarded
to Mohammed Yunus, the
founder of the microcredit
concept in Bangladesh. By
extending microcredits, the
Rabobank Foundation has been
contributing to cooperatives in
third-world countries for over
30 years. Microcredits are small
loans that enable people to
invest in a better existence.
In this way, the Rabobank
Foundation reaches more than
3.2 million members of coope
ratives worldwide, half of whom
are on or below the poverty
line. Between 2001 and 2006,
399 organisations relied on con
tributions from the Rabobank
Foundation. A review has
shown that these cooperatives
are growing fast: their member
ship shows an average annual
increase of 15%.
96 Rabobank Group Annual Report 2006
