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MFLF Microfinance

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Bethany Halbreich

on 25 March 2010

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Transcript of MFLF Microfinance

Women's Microfinance Initiative at Doi Tung:
NYU Social Entrepreneurship Students Sustainable Alternative Livlihood Development NYU's Preliminary Research Objective: to increase farmer productivity and offer deposit services similar to commercial banks.

Vision: “BAAC aims to become the Premier Rural Development Bank in the Asia-Pacific Region by concentrating mainly on the uplift of the people’s life quality coupled with the promotion for sustainable consumption of natural resources and environmental supervision." Drawing knowledge and lessons learned from around the world.... Asia-Pacific Region Founded in the U.S. The Foundation for International Community Assistance Mission - to provide financial services to the world's lowest-income entrepreneurs so they can create jobs, build assets and improve their standard of living.Vision - to be a global microfinance network collectively serving more low-income entrepreneurs than any other MFI while operating on commercial principles of performance and sustainability. Spandana forms savings/loan groups of 6-10 women each, with 25-45 groups forming a savings/lending "center."

Average loan size is 20,000 rupees (around $440 USD), with an average interest rate of 3.85%/month.

Loans are distributed for various reasons (from start-up costs, to supplementing income), with a special focus on agriculture and dairy farming. India The Program was launched with a group of 50 women and focused on
topics of health, nutrition, business and money management.
When entering the program, they are connected with a network of similar women for encouragement. Together the women are given loans and jointly guarantee repayment.
Each woman saves a little each week and they support each other to do their best. They meet weekly to deposit their savings, often 20 cents each per week to start and make repayments to loans (low transaction costs).
For security, the savings are often kept in rural banks, microfinance institutions and credit unions that partner with Freedom From Hunger. When the funds in the savings account accumulates, the women in the group act as their own bankers, approving small loans to each other from the pooled savings. The interest charged, which is usually low, is then used to further grow the savings pool for each member of the group.
Over time, the funds grow and allow the members to meet larger and larger financial needs such as healthcare, education, small business start-up and expansion, agriculture and even purchase of food during the hungry season before the next harvest. Africa -Solidarity group lending model that uses group dynamics to ensure accurate payment and lending practices
-Seeks to provoke social and educational change through their lending practice WWB Network Mission: To expand the economic assets, participation, and power of poor women as entrepreneurs and economic agents by opening their access to finance, knowledge and markets. WWB provides support, advice, training and information to a global network of 40 microfinance institutions and banks that offer credit and other financial services to 20 million low-income people — primarily women — in 28 countries worldwide.

Unique: Wide array of carefully targeted, professional services to strengthen its member organizations. The personal relationships and guidance offered to small, grassroots organizations and women's groups as they grow to become successful, financial entities committed to serving the poor, especially women.

70 % of network members rank among the top 3 MFIs in their countries, and 74 % of their clients are women. Currently, WWB network members are growing their financial resources (and hence their customer base) at a rate of 30 % per year, and have an outstanding loan portfolio of over $4 billion. Applying the lessons learned to Doi Tung: GROUP SAVINGS MODEL A. Group lending savings model would be ideal considering the community feel of community atmosphere of Thai women

B. Self-selected group of 4-7 women contribute to a designated weekly/monthly savings

C. Co-sign each other’s loan as collateral → collective responsibility

D. Weekly meetings should be accompanied by social intermediation sessions aimed at building financial ownership

E. Model both the Grameen Model & Traditional ROSCA NYU MFLF Research Team Read the need based on 2 weeks of immersion & research
Will begin to formulate a feasable plan for the next 1.5 months ....which Bethany & Brian will begin to implement! In 2 Months
Before doing anything, we will focus on gaining the women's trust
Will focus on training for project sustainability FEEDBACK We understand the importance of women as a catalyst for sustainable community development and as self-sufficient generators of financial and social value. We seek to mobilize this understanding, tailor it to the populations we serve, and nurture client ownership to build a world with universal access to the social resources and financial services necessary for economic and social development. MISSION (tentative)
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