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.
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