Some countries are experiencing reduced levels of domestic investment and foreign trade, and this places greater strain on any development gains that may have been made.

Other countries that are heavily reliant on remittances to sustain their internal economy are also being hit as the downturn in developed countries starts to impact the employment levels of migrant workers.This means a reduction in disposable income that would be remittances to some of our target countries.

Pledged levels of overseas development aid are also under threat as developed economies divert their resources to shore up their ailing banking systems.This manifests in reduced funding to programs like ours.

Local economies need to be more self-reliant to shield themselves from these global shocks. Microfinance can act as a useful safety net. Growing capacity to create wealth from local resources reduces dependency on external sources of support.

ECLOF continually works to improve its financial stability based on efficient internal management. We also realize that our continuing capacity to attract donations depends greatly on our accountability and transparency towards our donors.