Mennonite Weekly Review

GOSHEN, Ind. — Mennonite Mutual Aid joined five other organizations in launching the Isaiah Funds May 15 to aid long-term rebuilding efforts in low-income communities in the Gulf Coast region.

The investment funds provide low-cost capital to revitalize the economies of communities affected by disasters. The funds will initially focus on post-Katrina and Rita hurricane recovery.

“Economic redevelopment is a vital and often overlooked second stage to disaster recovery,” said Mark Regier, MMA’s stewardship investing services manager.

Regier was part of the Katrina Investment Response Team that led efforts to create a way to provide funds to needy communities along the Gulf Coast.

MMA Community Development Investments plans to invest up to $500,000 in the funds by 2009, with additional investments to be considered later.

The Isaiah Funds are designed for institutional investors. Individual investors in the MMA Praxis Mutual Funds will participate in the Isaiah Funds through the mutual funds’ 1 percent commitment to community development investing made through MMA CDI.

Individuals can also support the Isaiah Funds’ work by donating to MMA CDI’s Deka Fund.

Other partners in the Isaiah Funds include: American Baptist Home Mission Society, CHRISTUS Health, Highland Good Steward Management, Jesuits of the New Orleans Province and the Jewish Funds for Justice.

Though much of the Gulf Coast has regained the appearance of normalcy, some of the hardest rebuilding work still lies ahead. The Isaiah Funds demonstrate that the faith community, which was among the first to respond to hurricanes Katrina and Rita, is expanding its commitment to the region.

To establish themselves after natural and human-created disasters, low-income communities rely on patient, low-cost capital. Faith-based institutional investors, guided by their values, are well-situated to provide this

capital. The Isaiah Funds will make it easier for faith investors to support disaster recovery.