The Charities Aid Foundation (CAF) has processed its first overseas loan on behalf of CAF donor Roger Ross, who has lent £1m to the World Peace Festival taking place in Berlin this summer.

The £1m interest-free loan will help the Festival maintain its cash-flow while preparing for the event, which is expected to attract over a million people.

Roger Ross said, “I’m delighted to be able to help the World Peace Festival in this way. I had built up funds over time in my CAF Trust account and wanted to ensure that they were put to use for a great cause. The World Peace Festival is just that, and it has huge potential to promote peace around the globe. It’s great to be able to help an ambitious charitable endeavour in its infancy.”

Last year CAF helped UK and US donors to give over £39m in donations direct to charitable organisations outside their home country.