Vulnerable Women's Empowerment in Riviere Mancelle
Project Launch: 12-14-17
The women of Rivere Mancelle have developed several ideas to supplement their household income. While some women are talented seamstresses, others are known for developing tasty sweets, and others are able gardeners. Unfortunately, the village lacks banking and credit services and is in a remote location. The women have been unable to secure traditional loans or other startup funding to formalize their operations.
This project proposes the creation of 3 local credit and savings associations to be organized and led by the women of the village. These associations will develop seed funding and issue small loans to their members to kickstart their business ideas. Over time, as interest on micro-loans are paid by women borrowers to their partners in the association, the groups will secure enough collateral to be in the position to apply for bank loans to advance their business ideas.
Project Update: 5-31-18
The community savings and credit association is now composed of 25 people. The group elected a management committee that is supported by a facilitator to fully understand the group's operating methodology. Thanks to the project, participants have already banked its initial principal. The group has also granted loans to members and at least 6 income-generating activities have been undertaken by loan recipients. This allows members to support their families. The group is also a great nexus of social cohesion in the fight against gender-based violence. Beneficiaries believe that their socioeconomic situation is really improving.