To address the longstanding economic hardships in Mali, the Alliance’s economic development initiatives began in 1995 when small individual loans were offered to villagers in the town of Ouelessebougou. After the Alliance had provided these loans for several years, (aiding tailors, veterinarians, restaurateurs, etc.) the Alliance determined there was a greater need in the more rural village communities. In 2004, the Alliance restructured its loan program and began offering revolving loans to village committees in larger amounts—allowing for an increased profit margin. Now the Alliance’s loan program reaches 15 villages. In each village an Economic Development Committee has been formed by the village chief. This committee is charged with the creation of its business plan and ensuring that the loan is paid back in full and on time.
Revolving Loans for Self-Reliance
In this year’s annual assessment, only 33% of villagers said that their monthly income is sufficient to meet their needs. In order to increase financial opportunities at the individual level, many Economic Development Committees have decided to disseminate money from their village loan to village citizens for micro-finance business ventures.
Project Reports on GlobalGiving are posted directly to globalgiving.org by Project Leaders as they are completed, generally every 3-4 months. To protect the integrity of these documents, GlobalGiving does not alter them; therefore you may find some language or formatting issues.
If you donate to this project or have donated to this project, you will get an e-mail when this project posts a report. You can also subscribe for reports via e-mail without donating or by subscribing to this project's RSS feed.
This project is no longer accepting donations.
Still want to help?
Support another project run by Ouelessebougou Alliance that needs your help, such as:
Salt Lake City,