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A dedicated micro credit fund for rural Madagascar

 
$6,460
$13,540
Raised
Remaining

Summary

Creating a dedicated seed fund for micro-enterprise projects. Initiated and implemented by the villagers, with support from Zahana, it makes a huge difference overcoming the grip of object poverty.

What is the issue, problem, or challenge?

Most poor subsistence farmers are in remote villages. Nobody is willing to lend them money for e.g. seeds, life stock or tools, so they turned repeatedly to Zahana for help. A small NGO, Zahana does not yet have the financial capacity to assist even a fraction of the projects suggested. Hence the need for a dedicated micro-credit fund that provides access to much needed cash, at a fair rate for many farmers. Villagers will organize in groups to be eligible to borrow.

How will this project solve this problem?

Community groups can present their ideas to Zahana. Zahana evaluates each request and provides the available seed money with adequate training and actively involves e.g. the teacher or the village elders in its implementation and supervision.

Potential Long Term Impact

Crops and animals need time to grow. It may take months or years to evaluate its success. Based on the villager’s requests it is clear that with a small amount of money entrepreneurial ventures could greatly improve their lives if they can get it.

Funding Information

Total Funding Received to Date: $6,460
Remaining Goal to be Funded: $13,540
Total Funding Goal: $20,000

Additional Documentation

This project has provided additional documentation in a PDF file (projdoc.pdf).

Resources

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Organization

Zahana

Antananarivo, Capital, Madagascar
http://zahana.org

Project Leader

Markus Faigle

Volunteer
Honolulu, HI United States

Where is this project located?

Map of A dedicated micro credit fund for rural Madagascar
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