Hurricane Matthew, a Category 4 storm, hit the south of Haiti on October 3rd through 4th, wreaking havoc in the region. Many people lost their roofs, rendering them homeless. The micro loan program will offer loans to women who were hit by Hurricane Matthew. Each will be able to borrow up to $100 for repairs, livestock purchases, etc. If 100 women borrow $100, this program will cost $10,000. This money, once paid back, will remain in a revolving fund that can be lent out again.
Disaster Relief: Haiti has the lowest rankings for many of the UN development goals, particularly those concerning women. About 44% of households are female-headed and of these, 60% experience extreme poverty. Hurricane Matthew, Category 4 Hurricane, hit the southern peninsula of Haiti, including Fond des Bancs, exacerbating this situation. Many women lost their homes, livestock and life savings and are in danger of falling further into extreme poverty
A Micro loan program will allow women whose homes were affected by Hurricane Matthew to borrow up to $100 for repairs. If 100 women borrow $100, this program will cost $10,000. This money, will be used for reconstructing roofs, walls, purchase of household items, and replacement livestock. Once paid back, the funds will remain in a revolving fund that can be lent out again and again.
If a woman can get back on her feet, she will be better prepared to resume work, take care of her family and is less likely to fall deeper into poverty. We know that lending to women works. We know that the women we work with are already able to borrow small amounts of funds and pay back their loans little by little through their pay checks. This project builds on and expands an existing program and will benefit not only each women, but her 4 to 5 children and the larger community.
This project has provided additional documentation in a DOCX file (projdoc.docx).
Hurricane Matthew Updates can be found here