It sees the GIF as a third way. Basically, anything it invests in has to be socially beneficial. Of course, it also has to hold the promise of profitability. So in order for us to become interested in a venture we have to be assured that it is a profitable business in a low income region, or it is a profitable business that provides some kind of benefit in a low income area. Now it has taken on a life of its own and will be open to anyone who shares its goals and is willing to take a reduced return for their money in exchange for the good work it will do.
Work is under way to register the fund with securities commissions in Canada and the United States.
In 1998 the fund paid 3.5 percent. This year it is paying four percent, and next year five percent. Investors won't purchase units as in a mutual fund. Rather, they will make a loan to the fund, like a bond with a modest financial return. The bulk of this has come from MEDA donations and investment income over the years.