Business Revenue Generating Loans for 14 villages

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 individuals to participate and make a profit. progress report read updates from the field

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 individual business projects (as approved by the village development committee).

Funding Information

This project has been retired and is no longer accepting donations.

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

Who is Running This Project

Contact

Jennifer Beckstead,
Executive Director
10 West 100 South
Suite 605
Salt Lake City, Utah 84101
United States
801.983.6254
Email:

Project Sponsor

Ouelessebougou Alliance

Organisation

Ouelessebougou Alliance
5278 S. Pinemont Drive
Suite A-130
Murray, Utah 84123
United States
801.983.6254
http://www.lifteachother.org

Learn more about Ouelessebougou Alliance and the project team.

Where this Project is Located

Country

This project is located in Mali and can also be found under Microfinance.

For more information about Mali, read the Human Development Report on Mali or the Wikipedia entry for Mali.

When this Project was Updated

Last Updated

This project was last updated on January 08, 2012.

Date Added to GlobalGiving

This project was added to the GlobalGiving project catalog on September 02, 2005.

Latest Update from the Field

92% Loan Repayment Rate Since 1995!

By Jennifer Beckstead - Executive Director, May 10, 2011 10:17 PM

The Alliance has provided 400 loans for individuals and villages since 1995—totaling approximately $135,000. 91% of all loans have been repaid or are current! Last year the Alliance funded $16,000 in new village loans. The villages of Simidji, Famana, Sena, and Tentoukoro each received $4,000 for new micro-loan business ventures. Village Economic Development Committees have disseminated the funds to villagers that have submitted strong proposals for small businesses. Businesses range from raising and selling chickens, harvesting grain or cotton and producing vegetables and fruits to sell on the market. These individual loans are proving to be highly profitable. Nine villages are currently participating in the Alliance’s loan program with dozens more hoping to have the opportunity in the future. The Alliance requires that all village Economic Development Committees participate in ongoing training to ensure successful loans and strong repayment. In the coming year we hope to involve more villages in our loan program!

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