Micro Credit is a major tool for promoting self-sufficiency
A self-sustaining community needs employment, also known as: Economic Opportunity
You might remember hearing a lot about micro-credit when Muhammed Yunus won the Nobel Peace Prize for establishing micro-credit programs in Bangladesh. Well, micro-credit also works in Haiti. The Micro Credit Facility is a very flexible form of help which provides loans to local entrepreneurs. Loans are based on the decision of the loan committee of the villagers, and should help the borrower make money while fulfilling an economic need in the local community. Most loans are under $100.
Micro Credit borrowers Strategy session
The town of Cavalion, less than 2 miles from Boileau, has a major market day every Saturday. Many of the Boileau entrepreneurs take their merchandise there every week. The villagers are very conscientious in managing and reporting to us on their loans. More than 90% of the loans were fully repaid, with interest. The money is then loaned again to other villagers. This allows a continuing replenishment of the loan program. Also, it is helping them learn how to handle a local economy.
Market at Cavailon
Click any of the following subjects that you wish to read next.
1 - Haiti, a quick tour 2 – Boileau, an inside view 3 – Health, the top priority
4 – Education, future hope 5 – Food, critical ingredient 6 – Microcredit, provide income
7 – Fish Farm, great opportunity 8 - How can I help? Eye opening trip to Haiti
