Through the collection of money from the harvests, the women have initiated a microcredit lending scheme and it was as a result of the need for an additional income generating activity besides farming. The microcredit scheme will enable the beneficiaries earn more income through micro-businesses in the community and further support the needs of the family.
It is through this need that RVCP has joined the women cooperative in initiating the Microcredit lending scheme. A credit or loan starts from 12,000Rwf (approx 16USD) and is paid within a period of 3 months. So far 10 only have benefited from this scheme and some modes of payment that have been agreed on include payment using the harvest from the farming program.
"I was given 12,000Rwf at the beginning of March to start my tomato selling business and I have managed to pay back the entire amount and that made me eligible for a bigger loan which will help me expand the business. With the small profits that I have made from the business, I can now affrod milk for my children on a daily basis and hopefully once the business grows I plan to buy a cow for my family for milk and manure for the farm. With microcredit scheme, I no longer have to wait for the harvest time to provide good food and milk to the kids." Letitia said, one of the beneficiaries of the microcredit scheme.
The microcredit is designed in a way that once the beneficiary pays back the entire amount , it goes to the next beneficiary and with a small profit which deposited in the already existing saving scheme of the cooperative.
We are currently on the look for more partners to enable this scheme reach the enitre cooperative and support the women.
This would not be possible without your donations as supporters to this cause of enabling mothers in rural Rwanda raise out of poverty. Thank you