20 April 2005
WAN PARTNERSHIP LAUNCHES MEDIA DEVELOPMENT FUND
The World Association of Newspapers (WAN) has launched a partnership with the Media Development Loan Fund (MDLF) to support independent newspapers in developing democracies.
The organisations have established a new fund that will provide low-interest loans to carefully selected independent newspapers, with the aim of turning them into financially viable businesses. WAN says securing the long-term future of independent newspapers will enable media to continue playing an important role in leading countries through the transition to democracy.
The new fund will provide capital, through repayable loans, to carefully selected press
businesses; tools to help implement business plans and ensure repayment of loans through provision of expert advice; knowledge on how to leverage technologies to accelerate self-sustainability; and lobbying and campaigning support to help client newspapers resist threats to their press freedom.
WAN and MDLF say the partnership ties in well with the desire of many donors to support projects that carry a long-term, self-sustainability goal. "We will create no-risk opportunities for donors of all kinds - development aid agencies, corporations, foundations, vendors and even newspapers - to make a significant contribution to independent press development, with the promise that they'll get their money back," says WAN's Director General Timothy Balding. Funders will also be able to add grants to their loans, if they wish, to give an additional boost to worthy press projects.
MDLF is a non-profit organisation that provides low cost financing to news businesses in developing countries. It has raised and loaned more than US$40 million over the past decade to 45 media outlets in 17 countries.
Visit these links:
- WAN: http://www.wan-press.org/article6897.html
- How WAN Supports Press Freedom: http://www.wan-press.org/article37.html
- MDLF: http://www.mdlf.org/
- RAP 21 (Africa Press Network for the 21st Century): http://www.rap21.org
RSS