Microfinance in Alto Perú: Loan Disbursements - Sagrado Corazón de Jesús and Unidos para el Desarrollo

Tuesday, December 15, 2009

Loan Disbursements - Sagrado Corazón de Jesús and Unidos para el Desarrollo

On Friday 11th of December the members of the two village banks, a total of 20 people, received their loans, which ranged from 100 to 400 Nuevos Soles (35 to 140USD). The total loan portfolio amounted to a total of 6,450 Nuevos Soles (2,250 USD). This marked the beginning of a 6 month lending cycle, during which the village banks will have monthly repayment meetings, starting on the 11th of January 2010.

The President of Asociación SOLAC took part in both disbursement meetings, introducing himself to the groups and wishing them, as a group and as individuals, a lot of success for the next six months. The participants then signed a contract between each individual and the organization, and another one determining bylaws for their ASOL. Subsequently, when they received their loans, they were given personal booklets, which include their loan details and dates of the next meetings. Finally we celebrated the opening of the village banks with cake and a soft drink, and took some group photos.

1 comment:

WaTaDecember 18, 2009 at 8:43 PM
que buenas fotos eh, me alegra saber que han avanzado mucho chicas felicitaciones! :D
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Project Location: Alto Perú

The area of Alto Perú, in the district of Chosica-Lurigancho (East Cone), is one of the most rural areas in the periphery of Lima. It has long been accustomed to migration from the Andean interior and this, along with the inexorable demands of industry and the deriving industrial contamination, has resulted in extreme standards of living and sanitation, and pervasive child labour.

Previously, Asociación SOLAC has built a library in the school with the help of the community, to give the children and adolescents a place where they can develop their educational and creative skills. However, the library has not been used to the extent hoped for. Soon it became clear that children could not spend more time at the school premises as their labour was inevitable for the families' income. Most families in Alto Perú earn their living by making bricks out of contaminated water and earth. They get paid per 1,000 bricks produced and need the help of their children from as early as 3 a.m. every day. After school, children need to continue making bricks. Not only does this lead to a lack of concentration and children being tired during class, but they often suffer respiratory and similar problems and miss classes for many related reasons.

Microfinance will allow the families to receive a sum of money that they will invest in a way which is most beneficial to their situation. The loans will be accompanied by courses and workshops (such as how to keep track of money, as well as practical workshops on, for example, producing and selling textiles) and emphasis will be placed on the promotion of saving. The long term aim is that children spend less hours working and have more time to devote to education and simply being a child.

Microfinance in Alto Perú

Tuesday, December 15, 2009

Loan Disbursements - Sagrado Corazón de Jesús and Unidos para el Desarrollo

1 comment:

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Project Location: Alto Perú

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