Microfinance Focus, November 16, 2010: Opportunity International and the Caterpillar Foundation, the charitable arm of global equipment manufacturer, Caterpillar Inc., have launched a $1 million challenge grant that will enable corporations and small businesses to double the impact of their donations to Opportunity International. Caterpillar Foundation will match new donations from corporations and small businesses to Opportunity, up to $1 million total.

The year-end, $1 million giving challenge was introduced earlier this month to more than 350 donors, supporters and employees at Opportunity’s Fall Microfinance Conference held near Washington, D.C.

Donations made through the Caterpillar Foundation’s $1 million giving challenge, will be used to fund Opportunity International’s cutting-edge initiatives, including educational finance, and the rural and agricultural finance programs that are helping the working poor in sub-Saharan Africa, as well as in countries around the world including Mexico, India, Indonesia and China, achieve financial freedom, gain self-sufficiency and feed their communities.

Opportunity International’s savings-based microfinance programs are currently helping more than two million clients in the developing world work their way out of poverty. According to the organization’s 2009 annual report, it provides more than 500,000 savings accounts. Over the past decade, the Caterpillar Foundation has contributed more than $5 million to Opportunity International.