Microfinance

From Our Microfinance Partner: Opportunity International

Posted:06.12.2012

Photo of the week: Sanju

Sanju understands better than most the importance of education. Raised in a poor family, she was married at just 10 years old. With four young children and a husband working at a brick factory, Sanju was desperate to increase her family’s income. She used a series of small loans from one of Opportunity International Australia’s partners in India, C-DOT, to purchase and raise cattle. As a result, all four of her children are now attending school. Since joining C-DOT, Sanju has learned to sign her name. It’s clear that her own lack of education will not stop her determination to become a successful entrepreneur and give her children a brighter future.

Original post found here

Community Health Care in India

Posted:04.02.2012

Via the blog of our Microfinance Partner Opportunity International Australia

Imagine if you didn’t have access to basic healthcare or couldn’t afford a minor treatment to save the life of a loved one…

For many of Opportunity International Australia’s clients, this is a reality.

Often families are faced with the sudden and unexpected illness of a family member that could easily be treated with basic healthcare. However, for many people living in rural regions with limited money, even minor illnesses that they are forced to leave untreated can be devastating.

In India, Opportunity is partnering with a strategic and technical partner in healthcare to address this issue – The Healing Fields Foundation. Opportunity plans to educate 70 women in basic healthcare procedures and disease prevention methods, empowering them to become Community Healthcare Facilitators (CHFs).

These CHFs will each educate approximately 250 households in their community about personal healthcare and imparting crucial information about the state-provided facilities which many families are unaware they have access to.

Microfinance is effective in giving people a chance to increase their income by growing a small business but in some cases, a small shock such as ill health can push a family back into poverty. The sustainability of income improvements as a result of microfinance is therefore challenged and its long term positive impacts can become unstable.

To combat this, the CHFs will also encourage collectives of families to establish health savings groups which can be accessed should a group member become ill and be faced with healthcare costs.

The program has the potential to reach over 87,500 people (70 CHFs reaching 250 households of five people) and educate them on the importance of healthcare and saving for these incidents. The program aims to reduce mortality rates, lower the incidence of disease, increase income security and bring communities together in collectives.

Programs like this offer Opportunity’s clients a more holistic approach to reducing poverty.

When you join a GIG and financially educate yourself further, part of the proceeds of your course get donated via Opportunity International to provide microloans and contribute to a dignified way of reducing poverty.

Inspiration in a Bamboo Hut?

Posted:08.02.2011

Rebecca Parkinson, a member of a Sydney-based GIG (Girl Investment Group), wrote the following email to her fellow GIG members to explain her experiences on a recent trip. She shares with us how she was struck by a vision while in a bamboo hut in the Philippines. Go Bec and thank you for your insight and inspiration!

Hi girls,
I just wanted to tell you about this – couldn’t keep it to myself.

Last Thursday I found myself crowded into a bamboo hut, surrounded by 30 Filipino women and their children perched on benches & plastic chairs. Some were standing just outside the door holding umbrellas to protect them from the intermittent tropical rain. An array of popular local snacks were laid out in the middle of the room.*

The formal part of the meeting was completed, and we’d just finished hearing from each women in turn introducing themselves, describing their families, the industry they (and for some, their husbands) were involved in, and the size of each of their business loans. Many had recently received their very first 6 month loan, having borrowed 6,000 pesos – $125. One or two women were on their 13th loan cycle, one had even graduated to an individual loan. Questions posed to these women about their businesses were answered by a number from the group – the pride in these who were further down the path and had grown their businesses was vocal and supportive.

It was evident that they appreciated this gathering together of like minded neighbours – all of whom were taking a chance in financial matters, stepping out into an endeavour that was new to them, a little unsure, maybe daunted, but motivated to ‘have a crack’. And all so supportive of each other, and the realities, the challenges, responsibilities and opportunities their financial service – in this case a loan – was representing to each one.

And suddenly I was struck by a vision of us some day in the future, describing our initial hesitant steps to create our GIG group, our own support network, trying out different strategies, making time to gather regularly & learn together, and in time, proudly telling others about each others’ achievements.

If these women can do it, and gain so much, so can we. What an inspiration they were to me right at that moment!

I just had to tell you about this experience, the correlation was so evident.

Looking forward to seeing you in a few weeks,
Bec

*sticky coconut rice & moscavado sugar – yum!

Rebecca visited the Philippines as part of her job with Opportunity International Australia who exist to provide opportunities for people living in poverty to transform their lives.

Get your finances on girls and see how you can help empower yourselves and start a ripple effect to help women globally. To find out more about the Personal Finance Program and how to form or join a GIG please go here. To find out more about microfinance go here or about our microfinance partner Opportunity International go here

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