Donations and investments are used to provide 'low or no' interest loans to Fairtrade certified organizations in developing countries. We collect your donations and investments and pool them into a single fund. Prospero offers loans from this fund to selected applicants. Because it has limited funds, Prospero currently lends only to organizations in Latin America.
To date (31 December 2024), Prospero has provided 53 loans worth €2,588,151.23 (US$2,951,792.60) to Fairtrade certified organizations in Colombia, El Salvador, Guatemala, Honduras and Nicaragua. All loan repayments due have been made. We have also awarded 12 grants worth €149,986 to Fairtrade organizations in 8 countries: Colombia, El Salvador, Guatemala, Honduras, Nicaragua, Papua New Guinea, Peru and Tanzania.
When a loan is repaid, we re-loan the money to fund new projects. This allows your money to help not just one project but many people's dreams and aspirations come to life where they wouldn't otherwise be able to.
... a helping hand to local people to set up local businesses is charity working at its best.
Bobby KerrBusiness 'Dragon'
... I have seen the difference that a Prospero 'low-or-no’ interest loan can make to a co-op in a desperately poor community. It is life transforming, it really is.
Peter GaynorFairtrade Ireland
... this is a wonderful way of helping some of the poorest people in the world to realise their potential.
Síofra CampbellBewley's Ltd
... the lovely thing is that the money will be recycled again and again, bringing life and hope and all-important jobs to so many people in so many communities.
John DouglasPresident, Irish Congress of Trade Unions, 2013-2015
... this is an Irish charity giving practical assistance to those who need it most. It makes a real difference and deserves support.
Marie BakerFormer Judge of the Supreme Court
...none of us had ever heard of Ireland before that wonderful day when the word arrived that someone in Ireland was lending us enough money to set up a co operative. We didn't let them down. Three years later we were able to repay the money in full. We will never forget you.
Yelba GuzmanCOOMPROCOM Cooperative, Nicaragua