PCV 5 May 2010

Brief Project Description:
The project is a village savings and loan association involving a women’s group. Members contribute weekly savings to the group’s fund and that capital is then distributed in the form of credit. The women use the credit to invest in their small businesses, generally in order to expand their operations. The association provides a more informal opportunity for credit that is less intimidating for women who are nervous about taking credit for the first time.

Dates of Project:
Number of People Involved: 70 women between the ages of 20 and 65 participate in the association. These women benefit both by engaging in weekly savings as well as having the opportunity for a small loan.
Budget:

Item Number Cost
Lock box 1 12.000 CFA
Total Cost 12.000 CFA

Amount Requested: 12.000 CFA

Feedback:
My overall impression of the project is that it was successful. We just finished our first year and the women’s response was so enthusiastic that they wanted to start the second round immediately. This time many of the women have doubled or tripled the amount they are saving weekly. Our group was considerably larger than what is normal for these groups but based on the village dynamics it works better this way. This year however, we are trying out dividing the women into smaller groups each with its own leader. These leaders will be responsible for making sure their group is saving regularly and also attending weekly meetings. We’re hoping this will produce greater regularity of savings and more organized procedures.

Comments

GAD Coordinator: Yay for VSLA! I’m glad to see that the group is successful and that the women are asking for a second round. Did they not use a lockbox the first year? Why buy one now? Receipt received, recommend funding if question answered.
GAD Finance: It is great to see that so many PCVs started VSLA groups this past year. How will the leaders of the smaller groups be chosen? Recommend funding once questions are answered.

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