Village loan projects are bringing about stability and financial security in the villages around Ouelessebougou, Mali. Our economic development team traveled to Mali in October, 2008 to visit the villages. We found that of the more than $100,000 in loans that we have given to villages, we have a 95% repayment rate! Villagers are grasping the importance of credit and are using it to lift themselves out of poverty. The village of Famana is excited to take out a larger loan this year, because they have confidence now that they can repay it.
The village chief of Solo said, "Since we started our loan project we feel more secure. Now we can face our problems with confidence because we have a way to earn. We know that the Alliance projects work. The foundation was laid by the Alliance to begin our progress to free us from poverty.”
~ Koyiri Doumbia, Solo Chief
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