On October 23rd, 2014, we updated our
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Capital Campaign – negotiating second generation funds and identifying new sources of funds
Leveraging other grants on behalf of members and grantees through EFJ’s influence and through funding partnerships
Identifying other sources of funds that grantees and members may want to access
Re-looking components of the investment portfolio in order to improve investment earnings
Keeping administrative expenses controlled
Investing for Sustainability
EFJ has invested funds through fund managers in commercial banks and investment houses over 13 years
Investment instruments have been largely safe, high interest rate government papers
As a result, fund has essentially more than doubled from original total expected to be about USD20M over 18-19 years
A staff member monitors the investments weekly even though all instruments are held by external bodies
The EFJ as part of its sustainability plan identified and engaged in several partners to increase its corpus
“ Go Green” facility with a commercial bank – small and medium sized enterprises access loans for enviro-retrofitting the bank handles the loan portfolio interest shared by bank and EFJ.
Diversifying Investments 2
Investment in Jamaican company with an international brand name product – company arose out of a community based agro-processing industry - Walkerswood Partners Limited - selling Jamaican sauces, spices, etc.
EFJ invested in and has preference shares in the company and the agreement is to collect dividends on an annual basis based on loan repayments at a very competitive rate
Diversifying Investments 3
The EFJ has also allocated some of its funds to the seeding of an endowment – funds from the “Go Green “ Facility and the Walkerswood Investments will be flowed into the Endowment fund
In addition the EFJ is negotiating a second debt for nature swap and meeting with international foundations to attract funds to the region with the EFJ as fund manager
EFJ as Fund managers
Currently the EFJ is developing its skills as fund managers for other projects.
Two partnerships currently operate within this context : administrative and programme partnership with the Bernard van Leer Foundation (Child Development) and one with the TFCA and Nature Conservancy Forest Conservation Fund.
The EFJ is embarking on several co-financing arrangements in order to leverage resources to its grantees
Projects have been co-financed with the Jamaica Social Investment Fund
Agreements are being finalized with the GEF-Small Grants Programme and with the Commonwealth Foundation (England)
NGO Strengthening projects have taken place with IDB - Jamaica
All arrangements must be formalized through written, legally vetted agreements with party
Investments and arrangements should err on the conservative side to minimize risks
Reports must be made on schedule so that at all times the Foundation has knowledge of the status of the investment