Explanation

The funds in the portfolio are used on a revolving basis to provide loans directly to dioceses for development capital programs and projects. The principal, upon repayment, is then re-loaned to other dioceses. All the loans pay interest, and that interest income is used to support TEC’s programs. The net carbon zero resolution passed at the 80th General Convention, while ambitious and visionary in scope, did not provide financial resources to implement this mandate. Using a revolving loan fund model, already successfully used by the Episcopal Church, will help advance this mandate and other critical eco-justice mandates.

 

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