The Media Development Loan Fund (MDLF) has announced a unique initiative designed to help independent news media in emerging democracies. The program will allow investors to help foster press freedom and viability abroad by loaning money at low interest rates.
The investors would contribute by purchasing Free Press Investment Notes for as little as US$1,000 each. Each investor chooses an interest rate ranging from 1 to 3 percent for a period that would last from one to 10 years, depending on the chosen rate. For now, the notes are only available to U.S. investors, but MDLF says it will launch a similar initiative in Europe later this year.
MDLF is a New York-based nonprofit that offers low-interest loans to independent news media in developing countries. The loans finance needs such as new printing presses, broadcasting equipment, or other ways to increase financial viability while avoiding state monopolies. In many countries, news media have no way to access capital without becoming dependent on the government or other vested interests.
more...
|
