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Village Loans for self-reliance in rural Mali
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Summary
Revolving loans are offered for development committees in rural villages. Loan profits support the elementary school program for the village community and provide a way for long-term sustainability.
 read updates from the field
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Received $2,388 from 13 donations from people like:
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More Information About this Project
Project Needs and Beneficiaries
More than 1,500 children currently receive an education in twelve village elementary schools. Many villagers cannot afford to send their children to school, so village economic development committees are formed to plan and carry out new business ventures in order to make a profit and help pay for teachers’ salaries. Each village is required to pay about $32 per month, about 75 cents per child, to sustain the education needs in their villages.
Activities
Alliance staff work with village committees to begin new loan projects. They also provide continual business training to ensure project success. Current projects include grain banks, fertilizer (for cotton production) and decorative fiber projects.
Funding Information
Total Funding Received to Date: $2,388
Remaining Goal to be Funded: $27,612
Total Funding Goal: $30,000
Additional Documentation
This project has provided additional documentation in a Microsoft Word file (projdoc.doc).
Resources
Why this Project is Important
Potential Long Term Impact
More than 1,500 students look to the Alliance for an education. Loans increase income & provide a way for villages to assume responsibility for their education needs. Elementary schools will continue to offer a bright future for village children.
Project Message
“Since we started our grain bank we feel more secure. Now we can face our problems with confidence because we have a way to earn. The foundation was laid by the Alliance to free us from poverty.”
- Koyiri Doumbia, Solo village chief
When this Project was Updated
Last Updated
This project was last updated on January 07, 2008.
Date Added to GlobalGiving
This project was added to the GlobalGiving project catalog on September 02, 2005.
Latest Update from the Field
Loan projects succeeding!
By J. Beckstead - Executive Director, January 04, 2008 05:45 PM
Village loans continue to succeed and are generating profits. Several loans have been repaid over the past two years, with profit margins reaching 29%. Loan profits have made it possible for villages to build new classrooms and pay for their teachers' salaries! We are excited to begin new loan projects this year--projects that are creating a way for villages to become sustainable!
When I visited the village of Solo last year I was touched by the words of the village chief when he said, "Since we started our loan project we feel more secure. Now we can face our problems with confidence because we have a way to earn. We know that the Alliance projects work. The foundation was laid by the Alliance to begin our progress to free us from poverty.”
~ Koyiri Doumbia, Solo Chief
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Mali
Economic Development
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