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Adelante
ORGANIZATIONAL PROFILE: After witnessing the devastation of Hurricane Mitch in October 1998, philanthropist and venture capitalist Ed Cohen joined Tony Stone, a Stanford-educated engineer who was raised in La Ceiba, Honduras, to create The Adelante Foundation. Adelante (meaning "forward" or "progress" in Spanish) distributed its first loans in 1999 and a year later partnered with the Grameen Foundation to become a Grameen Replicator. It is based in La Ceiba and is led by Executive Director Francisco Lopez, former head of Pro Mujer Bolivia. Global Partnerships’ principal area of interest in Adelante is the development of a sustainable microcredit program serving very poor people in remote rural areas.
| GP PARTNERSHIP DETAILS: |
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$150,000 loan through Global Partnerships Microfinance Fund 2005 |
ORGANIZATIONAL VITALS
| # of BORROWERS: |
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5,534 (as of 12/31/09) |
| OUTSTANDING GROSS LOAN PORTFOLIO: |
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$694,674 (as of 12/31/09) |
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