Lockheed Martin Grant Supports FINCA Microfinance Programs Worldwide

Provides loan capital to lowest-income entrepreneurs and support for Haiti recovery efforts

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May 19, 2010, 12:11 ET

WASHINGTON, May 19 /PRNewswire/ -- FINCA microfinance clients living in some of the most poverty-stricken countries in the world will benefit from a $30,000 grant from Lockheed Martin. Funding will provide much-needed loan capital for clients in Afghanistan and El Salvador, and support FINCA Haiti's Relief Fund efforts, as both clients and staff begin the long road to recovery, following the devastating earthquake of January 12th.

FINCA President and CEO Rupert Scofield said, "We are grateful for Lockheed Martin's support for FINCA's activities around the world, with particular emphasis on Afghanistan, El Salvador and Haiti. We welcome them as the newest partner in our 25-year quest to alleviate poverty by providing the world's lowest-income entrepreneurs with the financial services tools they need to work their way out of poverty."

Lockheed Martin Readiness & Stability Operations President Mike Dignam said, "Microfinance loans make an impressive impact on the lives of impoverished people. We're proud to support FINCA's efforts to help entrepreneurs in Afghanistan, El Salvador and Haiti develop businesses that will sustain themselves and their families."

Lockheed Martin has employees in each country, providing support that ranges from rule of law and capacity building expertise to training equipment operators and repair personnel, for the US Department of State, host country ministries and multinational organizations.

Founded in 2004, FINCA Afghanistan provides financial services, which conform to Islamic principles, to nearly 15,000 individuals. Some 36 percent of Afghanistan's 28.4 million people live below the poverty line, with between three and eight million microentrepreneurs earning livelihoods in the country's informal sector.

FINCA El Salvador, founded in 1990, has operations throughout the country and provides loans to nearly 9,000 of the country's poorest citizens, 80% of whom are women. Nearly 31 percent of the population lives below the nation's poverty line. For these individuals, a small working capital loan from FINCA can make a huge difference in their ability to generate a reliable family income.

Haiti is one of the poorest countries in the world, with 80 percent of the population living in abject poverty. FINCA Haiti has been providing much-needed financial services since 1989. Before the January 12th earthquake, the program provided financial services to almost 12,000 people -- 94% of them women -- who spend less than $1 a day per household member. Access to small loans can greatly improve the quality of life for poor Haitian families by improving nutrition, allowing access to healthcare, and providing school fees so children can attend school and, hopefully, break the vicious cycle of poverty.

About FINCA
FINCA is a leading international micro-finance organization that provides financial services to the world's lowest-income entrepreneurs so they can create jobs, build assets and improve their standard of living. For 25 years, FINCA has been committed to breaking the cycle of poverty by providing community-based credit and savings opportunities. FINCA operates with a distinctive, integrated business model that accepts donations and investment dollars, an approach that leverages available capital and promotes greater transparency, sustainability and higher standards of business practices. This has allowed FINCA to achieve balanced financial and social performance unmatched in its industry while opening the path to socio-economic development for the lowest-income citizens of the world. Based in Washington DC, with local operations across 21 countries serving more than 700,000 clients, FINCA's outreach is among the broadest and most comprehensive of today's microfinance networks. For more information, please visit www.FINCA.org.

About Lockheed Martin

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 136,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.

SOURCE Lockheed Martin