In India, we continue to build on our partnerships with leading development finance institutions. These institutions excel in the provision of micro-financial services to the underprivileged section of Indian society. To date we have covered over 650,000 lives in the social sector.

Morley’s socially responsible investment (SRI) team also supports micro-finance initiatives. It participated in the successful raising of $60 million from investors in the UK, Europe and the US to lend to micro-finance institutions (MFIs) for a period of five years. MFIs provide people with small collateral-free loans at reasonable interest rates. Specifically, Morley purchased a $1.5 million note for one of Norwich Union’s sustainable future funds, which helped create the foundation for the entire structure. This initiative will finance approximately 300,000 micro-loans in Latin America, eastern Europe and southeast Asia over the five year life of the structure.