Caterpillar Foundation commits $19 million to charity

Caterpillar Foundation has committed $19.2 million to Opportunity International, a nonprofit that will use the money to provide financial products and training to people from impoverished countries in Africa and Asia.

Caterpillar Foundation is connected to Caterpillar Inc., the Peoria company that makes tractors and other ground-moving equipment.

Opportunity International is based in Oak Brook and provides micro-loans, training and equipment to 20 developing countries. Its 2011 tax forms, the most recent filed, show the nonprofit had revenue of nearly $88 million and expenses of $110 million.

Caterpillar's $19.2 million donation is being spread out over five years. It is the second-largest gift Opportunity International has ever received.

The first $10 million investment will help fund business loans and financial training in nine countries in sub-Saharan Africa.

The second commitment, $9.2 million, will fund programs in Indonesia, Brazil, India, China and the Philippines.

Earlier this year, Caterpillar Foundation President Michele Sullivan toured Uganda with Vicki Escarra, CEO of Opportunity International. (Ms. Escarra is the former president and CEO of Feeding America and before that was chief marketing officer of Delta Air Lines Inc.)

“It's a country in need,” Ms. Sullivan said, “and we're happy to support them.”