By Benito Jasmin | Project Coordinator
Over the past months, Makouti Agro Enterprise in collaboration with the Farmer to Farmer Program has contributed to business development in Lory through an improved loan system. Donations from GlobalGiving were combined with other funds to help 10 women establish 10 businesses in the town of Lory. These efforts were intentionally conducted during two months of school vacation to help women better prepare for upcoming school fees in September.
The assistance took the form of a “Tokèt Pam,” which is a combination loan and grant. Each woman received 5,000 gourdes (just over $100 USD). After one month, the women begin repaying 500 gourdes monthly. Those who successfully make their payments for 6 months do not have to pay the 4 remaining monthly payments. Thus the system is comprised of a 60 percent loan and of a 40 percent grant. This system offers a good alternative to other lending organizations, whose stringent repayment and interest policies have caused families to go into debt.
We thank you for your generous support of the Lory project!
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