Kenneth Anderson steps down as MDLF Chair

by Peter Whitehead / 5th December, 2009

On 5 December 2009, Kenneth Anderson stepped down as Chair of Media Development Loan Fund's Board of Directors and rotated off the Board in accordance with Board term-limits.

Ken, a Professor of Law at American University Law School and an expert in micro-finance, venture capital investment and international human rights, joined our Board at its founding in 1995 and had been at its helm for the past 12 years.

Ken is replaced by Bernard Poulet, Chief Editor of the French economic monthly L'Expansion and head of the Expansion think-tank. Bernard joined the Board in 2000 and will serve as the third MDLF Chair, following in the footsteps of Ken and our first Chair and co-founder, Washington Post journalist Stuart Auerbach.

We would like to offer Ken our sincerest thanks for his remarkable dedication, resolution and leadership over the past 12 years. Under his oversight, MDLF has provided more than $90 million in financing to 75 companies and began lending in 22 new countries. MDLF owes him a great debt of gratitude.

Click the link on the left to read more about MDLF's Board of Directors.

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Track record

From 1996 to 31 December 2009, MDLF has provided $94.6 million in affordable financing, including:

• $82.3 million in loans and equity investments;
• $1.1 million in technical assistance grants;
• $10.7 million in other grants;
• $0.5 million through Digital Kiosk, the secure payment service for independent media.

MDLF has financed 206 projects for 72 independent media companies in 24 countries and has written off only 1.98% of the total loaned and invested.

MDLF ended December 2009 with a portfolio of approximately $38.3 million in outstanding loans and investments.