Making loans and transforming lives in Pakistan

Safiya and her husband, Khuda

Picture: © CARE

It is quite fitting that as the holiest month in the Muslim calendar, Ramadan, draws to a close this week and Muslims around the world celebrate the arrival of the new moon, we at lendwithcare.org will be celebrating the successful inclusion of our first Islamic Microfinance partner, Akhuwat in Pakistan.

Originally posted on the Department for International Development UK website, reposted here.

Bonjour Yovo (Good morning stranger): Notes from a visit to Benin

  Last week I went to Benin (1). I got out of the plane in Cotonou, the largest city in Benin, as a tropical storm was receding and I was greeted by warm wet air, the sight of palm trees, the wet red soil…. and by the mosquitoes.

 The following morning, the first people who said hello to me were school children. As I made my way past them they all chimed “Good morning, Yovo.” And then smiled at me, I felt I had been welcomed.                                                           

Video updates from Togo part one: providing small loans to the financially excluded

In April I travelled to Togo to visit WAGES, our local microfinance partner, and a number of the micro-entrepreneurs we have supported through lendwithcare.org.  It was a particularly interesting trip for me because when I first started working for CARE International back in 1997, the “Women & Associations for Gains both Economic and Social” (WAGES) project was in the process of moving away from its origins as a small-scale group lending programme set-up by CARE and was transforming into an independent Microfinance Institution (MFI). I remember how CARE’s end of project evaluation had concluded that the WAGES project  was having such a positive impact on the lives of poor women and in order to help the many more thousands of people who could benefit from micro-loans, WAGES should became an independent entity.  This is why when we set up our lendwithcare.org initiative in 2010, WAGES was an obvious choice to be one of our very first partners.

Video update | Market fires in Togo & how lendwithcare.org's microfinance partner helped

Early this year two of Togo's biggest markets, Kara and Lomé, were devastated by fire. The fires, which occurred 48 hours apart, destroyed both marketplaces and the hundreds of businesses that lay within their walls.

 

Lendwithcare’s microfinance partner in Togo, WAGES, told us that the fires were a huge disaster and that many market vendors had lost everything – some lost all their money as well as their stock since they had kept it in the marketplace for safekeeping. A large number of the market vendors, particularly in the Grand Market of Lomé, are clients of WAGES and were faced with the added stress of how to meet loan repayments without a way to generate an income. In this short video update, we learn how WAGES helped clients to get their businesses back up and running as well as reworked repayment schedules (often pausing repayments) to give time for businesses to recover.

Why are some microfinance loans not so 'micro'?

When asked recently by a lender why many of the loans featured on the lendwithcare.org website were rather large (often around £1,000) we explained why that might be:


1. At lendwithcare we believe that supporting small to medium enterprises (SMEs) often generates waged employment opportunities for some of the very poorest segments of the population. The latter occasionally do not even qualify for a microloan in their own right. This strategy of supporting a range of businesses we believe is more effective in tackling poverty than simply supporting one type of business.

Youth, employment and micro-credit

Chakriya Yoeur from Cambodia

Hana Yousef, recent university graduate and CARE International UK Volunteer, discusses what microfinance could mean to the rising number of unemployed young people in developing countries ...


Historically, micro-finance has never been something typically associated with youth. It seems as though the general pre-conception of young people moving around and being less likely to ‘stay put’ make them less desirable recipients of a micro-credit loan. 


Following my donations

Jun Pérez, President of SEED Finance and Amy Lithgoe

It’s not often you get to know how the money you donate to charity is actually spent but today I was able to meet Jun Perez, President of SEED Finance, the Filipino partner of lendwithcare.org.  I’ve always thought the whole concept of lendwithcare.org is fantastic and was keen to find out more about how the scheme actually operates on the ground.