Microcredit (Village Banking)
Watch 2 Microcredit Videos (click below)
What is microcredit/village banking?
The concept of microcredit was founded by Professor Muhammad Yunus in Bangladesh in 1976 when he started Grameen Bank. Grameen comes from the Bangla word gram meaning village; hence village banking. To meet the initial capital requirements for the first village in order to purchase materials and work freely, 42 people needed about $27. Professor Yunus lent them the money – since no commercial bank would lend money to people who don't have it – and they paid it back. Now there are millions of microcredit borrowers throughout the world.
Why are microcredit loans primarily to women?
A loan of $4 to a landless and homeless woman in Nepal resulted in a home and education for her children within a short time. She bought a comb, a mirror and a pair of scissors and put her husband in business as a barber.
What is the repayment rate?
Microcredit views people as clients, not beneficiaries and it seeks to provide them with the means to support themselves through dignified self-employment. Regular meetings and group support contribute to the outstanding repayment rate.
How is Rotary connected to microcredit and how can you get involved?
In 2007-08, MRM partnered with the Calgary District in Canada and Opportunity International to fund $600,000 for a microcredit project in Ghana. Funds raised by MRM where matched 12 times through this partnership and the support of the Bill & Melinda Gates Foundation.
In 2008-09, MRM support five international projects in Chilapa, Mexico, Ecuador, India, Liberia and Indonesia. The project in India involved the cooperation of three continents of Rotarians - from Italy, MRM and India.
You and your club's participation are welcome and needed. Please email Kenny Jones of the San Diego Rotary firstname.lastname@example.org, Bink Cook of the San Diego Rotary email@example.com or Deborah Lindholm of La Jolla Sunrise Rotary firstname.lastname@example.org for further details. Please click on the images on top for video presentations.
Club Information |
Club News |
Yellow Pages |
Speakers Bureau |
Website design by PDG Philippe Lamoise, D2G Online