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 | Rwanda
Microenterprise Development
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| What is the need?
More than a decade after the devastating conflicts and genocide of 1994 ravaged the country, the Rwandese people are still working hard to pick up the pieces of their shattered economic and social infrastructure. Poverty is a daily reality for more than 65% of the 8.1 million people living in Rwanda.
Compounding the problem, the rise of HIV/AIDS has left the people of Rwanda even more vulnerable. Women are particularly vulnerable because of gender inequality that pervades the culture. Without basic resources such as sustainable income and collateral, they lack the ability to begin rebuilding their communities in areas of agriculture, education, shelter, rehabilitation of infrastructure, and reconciliation.
What is the solution?
The Vision Finance Company, a World Vision microfinance institution in Rwanda, is using loans to change the lives of people in need, especially women. With a low arrears rate of two percent, this institution has proven itself to be a solid investment—one that produces high yields with low risk. Its services promote holistic transformation in the lives of the economically productive poor Rwandese through the development of sustainable microenterprises.
- Business loans and other financial products for poor entrepreneurs (54 percent of whom are women)
- Business counseling services and job training
- Education in HIV/AIDS prevention and awareness
- Education in social responsibility and peace-building
Project Objectives
- Expand its existing community banking program that grants loans to groups of individuals who share the responsibility of paying back loans with interest
- Promote employment and increased incomes through sustainable microenterprises
- Empower women through loans and other programs to reduce their vulnerability
- Teach loan recipients about HIV/AIDS awareness and prevention
- Incorporate programs that teach loan recipients how to care for widows and vulnerable children and how to work toward peace-building and reconciliation
- Become fully operational sustainable and financially self-sufficient
- Provide proper documentation of activities undertaken
Project Duration
Three years
2005 Funding Need
$511,588*
*Can be funded partially or in full. |
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