In EDCS’s (Oikocredit) first decade, the organization faced difficulties as it tried to gather enough church investments to begin its operations.The idea of lending to organizations which helped the poor gradually gained support, and by the end of the decade, EDCS had invested in its first projects: one in India, and one in Ecuador. Oikocredit still operates in both countries today.
EDCS disburses its first loans of USD 100,000 to Fondo Ecuatoriano Populorum Progresivo (FEPP) in Ecuador and USD 200,000 to Vellore Medical College and Hospital in India. More
EDCS (Oikocredit) becomes independent of the WCC and its first Managing Director, Adrian Wijemanne from Sri Lanka, is appointed. More
Oikocredit EDCS becomes a legally incorporated entity in the Netherlands, with Cyril Bennett as interim managing director. More