Two of the priority projects that result in more food for Haitians are the Ox Plow projects that increase the amount of land tilled for planting and the Micro-Credit Funds for farmers that accompany the Ox Plow projects. The funds, at an interest rate of 2%, help farmers to pay for the service of plowing at the initial stages. This is a much better interest rate than predatory lenders who charge as much as 25 or 30%. All revenues from the Ox Plowing service increase the capacity of the organization to care for the community.
With longer droughts and shorter rainy seasons, it is critical that plowing the land for planting is done in a timely manner. Farmers can plow the land sooner when they don’t have to worry about repayments with huge interest rates. In addition, Ox plowing is much quicker than hand tilling. Thanks to your support, Lambi Fund is starting projects with several new organizations in the South and will be reporting more on them in the upcoming months.
Thanks to your support, we are able to seed another women's micro-credit fund. We will report progress as it moves along but here is the rationale and strategy for funding it.
Women are investing heavily in the trade of agricultural produce and are the ones who manage the marketing and sales of produce at the local marketplace. Predatory lenders charge 25-35% interest rate to seed the women's small businesses. Lambi Fund seeds the micro-credit nfund, trains the members, and charges only 2% interest, a much more affordable rate for the poor.
To start the project Lambi Fund will provide the community organization with a 500,000 gourde fund to be distributed to 50 tradeswomen. The ladies will get the credit for 6 months with a 2% discount interest. Repayments are made monthly to allow other women to join the program.
The organization sets out a number of criteria for selecting the first borrowers. These criteria are based on women's experience in trading (ability to manage money) and the level of participation in all organization activities.
The organization, in addition to the credit program, will set up a tree nursery to produce 20,000 seedlings to raise awareness among its members about environmental degradation issues and to help protect their personal gardens.
Lambi Fund helped start several new goat breeding projects this year. Goat breeding is a relatively quick way for Haitians to become more sustainable. Lambi Fund gets community organizations started with two female breeding goats. They are bred and when their offspring grow up, the goats are sold at market. The proceeds help the organization members become more sustainable and as a result are able to feed their families and send their children to school.
The goat breeding projects will be monitored by Lambi Fund staff over the next couple of years as they help the community organizations succeed. To date, Lambi Fund staff has provided organizational and project management training. Without this training, the community organizations would have a more difficult time operating a successful goat breeding enterprise.
Each member of the organization receives 2 female goats to begin their own breeding.
Lambi Fund staff trains all members of the organization on goat breeding techniques.
A veterinary pharmacy is located inside the community.
The number of animals will at least double since the first year of the project.