 In the developing world women face a variety of social, cultural, and economic barriers. Approximately 70% of the over 1 billion people living in poverty around the world are women. Women bear many heavy burdens in this world. They face illiteracy, lack of skills and training, long hours of back breaking manual labor as well as the ongoing struggle to keep their families fed and their children in school. Women have been shown to be much more committed to using their loans for the benefit of the family and have also demonstrated a stronger responsibility for repayment.
Born to Aid recognizes that, as the primary caregivers for the children, women are the logical recipients for microloan funds. Experiences gained and lessons learned from many successful microloan programs in operation around the world will be applied in structuring the micro-loan program. Small loans in the initial stages are easier to manage and repay.
Women will be organized in groups of 5 and will share responsibility for repayment. The application procedure shall be simple and the extension of credit quick. Required deposits into savings accounts in the groups name strengthens discipline, earns interest, and serves as a reserve in case of emergency.
The combined stresses of crushing poverty, AIDS, lack of education and skills, disease, no access to health care can overwhelm a families ability to survive. Families have no reserve to take in a relatives children when they have been orphaned by AIDS. An effective microloan program can offer a means to generate income, a ray of hope to break the chains holding these women and children in such desperate circumstances. |
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