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Jonathan

Jonathan GREENACRE

Year of Award: 2009 Award State: New South Wales Business > Finance And Insurance
Business > Small Business And Microenterprise
To explore how AusAID can assist microfinance providers to transition from using donor subsidies to private funds - USA, Philippines, Cambodia, Bangladesh, Indonesia
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In 2006 Jonathan Greenacre’s interest in microfinance was alerted when a charity with which he was involved began to fund a Cambodian microfinance organisation called the Amputees Rehabilitation Society. This provided loans of about $US15 to landmine victims.

Microfinance provides small loans to those who are normally left out of the formal banking sector because of their lack of assets. Jonathan was awarded a Churchill Fellowship in 2009 to explore how AusAID could help microfinance providers in a transition from donor subsidies to private funds. He visited the United States, the Philippines, Cambodia, Bangladesh and Indonesia.

He writes, ‘I observed how the borrowers, most of whom were very poor, used these loans to start enterprises such as pig colonies. These generated income, which the borrowers used to move out of poverty.’

Jonathan did a training course with an Indonesian bank, visited leading microfinance organisations, members of the World Bank and the Asian Development Bank and met Harvard microfinance academics. He returned with a number of recommendations for Australian based donors.

Excerpt from “Inspiring Australians” written by Penny Hanley (2015)

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