New microfinance investments in Haiti, Peru and Cambodia
Posted by Valerie Ponell in Investing in sustainability, October 12th, 2009We just again invested in innovative ideas and entrepreneurship by using microfinance platforms to support business development around the world. This time we made bids in Haiti, Peru and Cambodia and are pleased to be able to help two different business people as well as a group of entrepreneurs.
The Haiti-based group is called “Mi Corason De Grand Bassin” and consists of fifteen male and female entrepreneurs. They have a wide range of businesses ranging from phone cards and repairs, to used clothing to peanut sales. 23-year old Lazar Rolinx, one of three representatives of the group, sells phone cards for all of the major phone companies in the country. He has also created a relationship with another business that repairs phones. By developing his business, he hopes to be better able to support his family.
The second project we are investing in is the business of 28-year old Cesarían in Peru. The mother of four children plants bananas, corn, yucca, and ginger in their own fields. She is also in touch with buyers in Lima, so she can increase her income to be able to pay for her children’s education. With her current loan she wants to buy fertilizers and to clear the fields for the next ginger planting.
Our third bid goes to Chum Thon in Cambodia. The 28 years old father of four young children has been performing as a musician since 2007. With the 5 dollars he earns from that every day, and his wife making additionally 5 dollars per day from selling cakes, they make their living. Chum Thom wants to use his loan to purchase musical instruments.
We wish him and all the other entrepreneurs best of luck and hope that our bids help them to successfully develop their business!
Tags: microfinance
October 13th, 2009 at 17:40
This is a really great idea. There are so many entrepreneurs in these small developing economies. They really need to be encouraged as much as possible.
November 4th, 2009 at 22:05
A good story of empowering women through microfinance is that of Aldea Artisans. The artisans that weave their scarves receive microfinance from the Whole Planet Foundation. They then sell their scarves to Aldea and receive 1/3rd of the revenue of their scarves.
The website has great information on the Mayan community that they work with, including about 60 female artisans.
http://www.aldeaartisans.com/