By Andukunnel Alexander | Executive Director
While working for the disabled women and children with disabilities we came across a peculiar phenomenon. Most of the areas where we work were covered by micro finance agencies. They used to give loans to women groups for running petty shops and recover them with interest. Before getting in touch with Globalgiving we had no source of financing the needy women especially the disabled. So I requested several of these agencies to support our cause since they vehemently preach that they are there to help the the poor. All my requests were turned down because they say if the disabled women are given loans they would not repay and there is no collateral security etc. Then I made a study of these MFIs(Micro Finance Institutions). Most of them were simply looting the poor under the guise of helping the poor. Because they charged interest up-to 36%.I wrote to some of the International Financiers of MFIS like WWF/ CORDAID etc exposing the financial looting of the poorest in India by the so called MFIs and requested them not to finance such organizations. But they too turned a deaf year. I requested them to support the cause of the disabled women and support their cause by financing a special Micro finance programm designed with the help from the students of ISB( Indian Business School) with reduced interest rates. But none of these Organizations supported us. Now what happened to the MFIs??? There was a hue and cry against the looting lucarcious business carried out by the MFIs and Government had to put a ban on MFIS.
It was at this stage I came in contact with the noble Organization "Globalgivng". And I am grateful to all the donors for their wonderful support to our programme which has made a difference in the lives of nearly 50 families of the disabled.Still there is a long way to go. I am not disappointed at the slow progress that we make in the right direction because even a thousand mile begins with a single step.So I hope and pray that more donors would support our cause!!!
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