Global Reach International has set up the women development loans in various areas of Nepal. One of our projects includes giving loans to women to design clothing to have a chance to presents their ideas to the American Market. This has been a successful venture for all involved. We have also given donations to buy cows for distribution of milk and yogurt products.
Another donation loan that is going to be funded is the distribution of coffee and tea. We are working with a group in Nepal to help them distribute their product in Nepal and beyond. A team of volunteers will be going to Nepal in the next few months to take pictures and do full projects report.
Current project Global Reach International has given funds and approved funding for the town of Dhara Pani in southeastern Nepal. The project is for transportation of food and wood for fuel. Two animals were purchased (Buffalos) and a cart. Buffalos pull the cart and transport food and fuel to villages in the Dhara Pani District of Nepal. Food is purchased from local farms and is sold in local markets and households. This is a team of women who will be starting this business. The head of the business is Phol Kumari and Manju Adhikari. Manju Ahdikari is collecting women's names and distributing the funds for the business. She is in charge of all finances.
We recently sent a camera out to Nepal so that they can take pictures of this project and give us a full report with visuals. A total of $1351 was given to this project. Additional money will be distributed to additional loans in this area.
Other loans to be distributed in the next month include a winery owned and operated by Nepali women. Please check back in the next two weeks for additional information and photos.
Global Giving Report for 2010
Micro Finance Loans for Women: $2240
Money Received from Global Giving:
Bill Sansone the director and founder of Global Reach International has returned from Nepal in February from a three week tour. On this trip, we met with the women groups who are looking for small business loans. We have set up a separate account and will start supplying loans to women in need. While we were in Nepal we explained the process on how the loans work. We meet with the group of women and heard their concerns and needs. Global Reach will be working with the Rotary Club of Katmandu and Lee Lee Village VDC, an NGO in Nepal to distribute the loans. Loans are currently being released. Loans that were excepted include:
Women Clothing (sewing, repair) (5)
Tea Operations (selling tea in village area) (3)
Flower Planting (selling flowers in the market) (1)
(1) NUMBER OF WOMEN INVOLVED
The key to a successful loan program is understanding on how the loans work. The women who joined me in Nepal all had the same questions. How much the interest will be, and how long do they have to pay it back? Since these loans are donations we have decided to loan out the money at no interest. Depending on the size of the loan, the amount owed each month will vary. Our largest loan amount will be $300. Some of our lower amounts are $50 - $100. The loans are paid back monthly through a separate bank account that Global Reach International has opened. For example, a loan of $50 will require a 300 Rupees per month pay back. This 300 rupees that is returned to the bank is then loaned out to another women. We picked this particular group of women because of their track record. They have a 98% return rate.
There are over 500 women in this particular group. Since we don’t have funding to support every women, we need to be selective. We choose this particular women group because of their affiliation with the Rotary Club of Katmandu. This group has a board of directors that everyone answers to. These board of director are responsible for dispersing the funds to the loans we have choose.
We do not penalize people for not paying back loans. If a loan is not paid back, then that particular person will not be able to participate in our microfinance program again. Global Reach International has staff in Nepal working with the women to make sure they get the right guidance on their small business ventures.
Bill Sansone will be returning to Nepal on October 3 - 25 to check on the status of all loans distributed.
An American volunteer will be going out to Nepal in May to start the process of distribution of money and loan selection.
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