A pioneering development charity has thrown down a challenge to businesses to tackle global poverty.

Opportunity International, which has its UK headquarters in Oxford, specialises in microfinance -- small loans and financial services which allow businesses in poorer countries to grow and which would not otherwise be available.

To mark its tenth anniversary, the charity wants more companies to support its work in the developing world.

Marketing manager Matthew Chambers said: "We can provide loans as small as £10, as well as financial services which allow these businesses to manage their money where they would otherwise have no access to a bank account.

"We don't charge high interest rates like the banks, which allows people to set up businesses and support their families."

Opportunity International has about ten staff at its office in St Clements but it is part of a network of 48 international organisations working to reduce poverty in 25 countries.

In the past 30 years the Opportunity Network has created more than a million jobs in the developing world. In 2000 it loaned £42m to businesses.

It gets funding from businesses, governments, foundations and individuals but wants more contributions from businesses. Figures show just 0.2 per cent of pre-tax profits from the UK corporate sector go to charity.

The charity recently made a presentation to businesses and financial leaders attended by the Governor of the Bank of England, Sir Edward George.

The chairman of the charity's trustees, Colin Webster, said: "There is a strong moral and business case for the UK corporate sector to do more to meet the challenge of global poverty."

For more details of its work, call 01865 725304 or visit www.opportunity.org.uk