El Salvador - Sonsonate Department & San José Villaneuva[50] Rotary Micro-credit in El Salvador Project value: 500000 USD Funding sought: 500000 USD Project status: Active, seeking further funds
Status DatesDate project entered into database: 2009-03-01 07:21:51 |
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The Rotary Club of North Renfrew has partnered with Club Rotario Noroeste and a partner NGO Micro-finance Institution (MFI) ENTERPRISE MENTORS INTERNATIONAL to re-establish Rotary Micro-credit in El Salvador. In 2008 North Renfrew Rotary invested $5,000.00 USD in 34 businesses. Funding came from the North Renfrew Club, a District Simplified Grant and other Clubs in Rotary District 7040. Club Rotario Noroeste and the MFI have monitored the use of the funds through 3 credit cylcles with 97% success. Additional funds are being sought to expand the operation throughout the Department of Sonsonate and the entire country of El Salavador. North Renfrew Rotary will administer the donations for International Clubs. The host Club and the MFI will provide regular reports on the Micro-banks. The need is great. We can make a difference in the lives of families living in poverty. ***We are looking for additional capital to open a second Bank in the community of San José Villaneuva (12,000+ population) as part of a multi-club, multi-year sustainable community Program with our partner NGO Epilogos. We are looking for support in the range of US$1,000 - 2,000 per club.
Primary Host Partner in the Project CountryClub: Rotario Noroeste
Primary International Partner outside the Project CountryClub: North Renfrew (Deep Project Coordinator: Julian Bayley, , Email Champions: Bob French, NORTH RENFREW
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