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Opportunity Early Childhood Education & Family Center history
Opportunity Early Childhood Education & Family Center company history timeline
In 1971, Al Whittaker left his job as president of Bristol Myers International Corporation in America to found the Institute for International Development Incorporated (IIDI), a micro-enterprise organization.
Australian philanthropist David Bussau founded Maranatha Trust and began administering loans in Indonesia in 1977.
In 1991, a group of women supporting Opportunity International called the Women's Opportunity Network created a group-lending methodology called the Trust Group in which groups would be responsible for their peers and hold them accountable for repayment.
Opportunity began testing this group lending and Trust Group method in the Philippines in 1992, and in the same year, they began to focus on serving entrepreneurs at even more extreme levels of poverty.
In 1998, Opportunity formalized these partnerships into the Opportunity International Network - a group of partners that now includes 47 entities in over 20 countries.
In 2000, Opportunity began building a series of permanent and mobile banks to reach more remote areas of countries and attempt to serve those that had previously lacked access to financial services.
In 2002, Opportunity International developed and founded MicroEnsure, a microinsurance entity providing weather-indexed crop insurance, affordable health insurance, and protection against other risks.
Al Whittaker passed away in 2006.
MicroEnsure was the world's first microinsurance intermediary and received a generous grant from the Bill & Melinda Gates Foundation in 2008.
MicroEnsure spun off from Opportunity as its own company, and in 2013 it became a for-profit social enterprise.
In 2017, Opportunity International's operation in Malawi was sold to southern African banking group FMB Capital.
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Opportunity Early Childhood Education & Family Center may also be known as or be related to Opportunity Early Childhood Education & Family Center and Opportunity Inc of Palm Beach County.