Emmaus International develops its Emmaus Ethical Fund!

Acting against the causes of poverty means creating and defending economic models that allow everyone to find their place by making a living from their work and reclaiming their fundamental rights. With the Emmaus Ethical Fund, the Emmaus Movement is working to create a society where work provides access to rights and dignity.

The Emmaus Ethical Fund is testament to the Movement’s ability to pool the financial resources of its groups to facilitate access to credit for the development of solidarity economy initiatives throughout the world.

The Emmaus Ethical Fund was created in 2007 following discussions which began at the Ouagadougou World Assembly (2003) on the defence and promotion of ethical finance. Its aim was to equip our Movement with an additional weapon to combat the causes of poverty around the world, by calling on all groups to contribute to this innovative tool for justice, and equity and resource sharing at the international level.

Following the assessment of the real needs of groups to access credit and financial support, the Ethical Fund’s aims were broadened to offer the following to the Movement’s groups:

• A bank loan guarantee to support the development of solidarity economy activities (loans over €50,000)
• Direct loans for developing solidarity economy and self-sufficiency activities (loans of €50,000 and under)
• Loans as a cash bridge for groups awaiting the payment of grants/subsidies
• Support for microcredit activities through medium-term financial support

Loans: another expression of solidarity.

In addition to Emmaus International’s usual funding mechanisms (annual solidarity programme, etc.), this tool, based on the logic of lending, makes it possible to reinforce the pedagogical aspect and the efforts of the Movement towards self-sufficiency and autonomy, through accountability and support. Moving away from donations to fund the development of activities linked to the group’s social purpose enables means that the solidarity funds don’t need to be used for these activities. Therefore, the solidarity funds can be focussed on supporting the most fragile groups or those in difficulty in the Movement.