Nicaragua is the second poorest country in the Western Hemisphere. 16% of their population lives on less than $1.25 a day. By providing training and financial support for the two most promising enterprises- agriculture and tourism- impoverished populations can help themselves and their communities.
What is the issue, problem, or challenge?
Agriculture is one of Nicaragua's largest industries and yet the practices and materials most farmers use are outdated and are hindering their production. With just a small loan, these farmers could improve their farming techniques, produce more crops and create more capital for the entire community.
How will this project solve this problem?
A variety of programs are aimed at providing training and finance for tourism and agriculture- the two most promising enterprises. Agricultural programs such as the Farm Loan and Opportunity to Fund programs provide loans to farmers so they may receive training and improved tools that increase their income up to 250%. Artisans also benefit from micro-finance as it improves their quality and access broader markets.
Potential Long Term Impact
With improved profits, farmers can invest more into the land, increasing yield and profit that is often infused into the community. In addition IDEA funds allow groups in the community to take out a loan together for community-wide projects, allowing them to improve their lives together.
Total Funding Received to Date: $1,485
Remaining Goal to be Funded: $515
Total Funding Goal: $2,000