Canadian Mining Executive Invests in Untapped Resource

$250,000 donation - compassionate capital benefiting thousands of small-business entrepreneurs

A prominent Canadian mining executive has excavated a new kind of untapped resource in the developing world: human entrepreneurial potential unleashed through microfinance. Ian Telfer and his wife Nancy Burke, have made a $250,000 gift to support aspiring entrepreneurs through the microfinance organization Opportunity International Canada.

"Entrepreneurship in the developing world is an undiscovered goldmine," remarked Ian Telfer, chair of Goldcorp Inc. "Nancy and I had the chance to observe Opportunity International's innovative approach to microfinance. We saw firsthand how this process gives entrepreneurs the chance to create sustainable businesses. Compassionate capitalism can achieve what charity and good intentions sometimes cannot."

Ian Telfer is chair of Goldcorp Inc., one of the world's largest gold mining companies and Chairman of The World Gold Council. The Telfers visited Urwego Opportunity Bank in Rwanda in 2009, where they met with leaders of the bank.

Added Ian: "By giving new entrepreneurs access to financial services, Opportunity International provides a platform for the sustained economic development that is key to achieving its objective of alleviating poverty."

"This gift will allow us to expand vital financial services to thousands who would otherwise have no other options to support their families and live out their entrepreneurial dreams," said Doris Olafsen, Vice President, Philanthropy for Opportunity International Canada. "Ian and Nancy have tapped a major reserve of dignity and hope for the developing world."

Opportunity International Canada helps entrepreneurs around the globe find their own way out of poverty through small loans, savings, insurance and business training services.