I’m pleased to write to you as the new president of the WCCN board. I joined the board and oversight committee soon after I participated in the 2000 study tour, and I’ve been very impressed with the talent and dedication of WCCN’s staff and volunteers. Many thanks to Dan Rodman for his years of service as board president.
The upcoming year will be an important and exciting period for WCCN. We’re considering adding new partners outside of Nicaragua, for the first time in our almost 25-year history. It’s certainly a major decision, and Carlos gives you more details in this newsletter. As we move forward with this decision, and others, my vision for WCCN is that we stay true to our fundamental mission of fighting poverty through sustainable economic development, while fostering greater understanding and goodwill among people. We can do this by taking advantage of our considerable strengths.
WCCN has strong relationships with many individuals and organizations in Nicaragua, and a broad base of support in the United States. We helped to build the microfinance sector in Nicaragua, but we’ve stayed independent and flexible. WCCN has made a commitment to improving its decision-making tools, and this critical analysis capability has helped the NICA Fund grow to over $9 million without a single loss. It’s also helped us to communicate better among ourselves, as we considered initiatives like loans to small start-up cooperatives and loan funds. I hope that in the next year we continue to improve our planning processes so that we carefully consider new ideas, assess potential risks, create good policies, and stay connected with our partners and supporters.
As the microfinance industry has grown and become mainstream, WCCN’s staff and board have been challenged to respond to the rapidly changing worldwide environment of microfinance. In Nicaragua, some of our longtime partners have become regulated financial institutions. We have sought out new partners, particularly cooperatives in remote areas. This year, we are monitoring changes in the Nicaraguan economy very carefully. We expanded our funding to small grassroots NGOs in 2008, and we’re communicating with our partner microfinance agencies, as they respond to political and economic challenges. As we consider the pros and cons of diversifying some of our risk by lending outside of Nicaragua, I’m confident that we have the staff and board in place to make principled and visionary decisions for the future of WCCN.
Anne Reynolds
July 6, 2008
