Recently, several representatives of WE had an opportunity to meet with Jackson Kaguri, the extraordinary individual whose efforts led to the establishment of the Nyaka Grannies Project in southwest Uganda. In 2014, WE contributed $25,000 to the project, committing to an additional $32,000 for 2015. The project provides access to credit to some 7000 grannies caring for 43,000 grandchildren orphaned as a result of AIDS.
Microfinance programs offer poor people access to basic financial services, such as micro-loans, savings, training and micro-insurance, and is widely recognized as a just and sustainable solution to alleviating global poverty. Small loans - often less than $100 - are provided to poor women to start or expand businesses. Unlike commercial loans, no collateral is required. Instead, women borrowers form into groups, with each member guaranteeing the other members' loans.
Women's Empowerment (WE) is proud to announce a new partnership providing business loans to vulnerable women in Tijuana to help them start new businesses, through Via International, a service organization based in San Diego and dedicated to building "paths to self-reliance for an interdependent world." Via has successfully helped address community needs since 1975.
Antolina Anaya Alvarez has efficiently used her talents and energy to start a small grocery business and take a leadership role as president of her loan group in Las Santa Cruz. When an aunt relocated, Antolina took over her loan from Grameen de la Frontera, WE’s partner bank for the poor in Sonora, Mexico. With the loan, she opened her store. The results of her small loan helped her both financially and personally. Her husband who had been supporting the family by working in Tijuana, Mexico, was able to return home to help in the grocery store.Read more...