Today the billions of people, who make up the 20% of the world´s poorest population create only 1% of the savings generated around the world, and receive as a result only 0.2% of the credit on offer. In effect, 4 out of every 5 lira are “lent” by the poor to trust funds set up by some of the world´s richest people.

Microcredit is to give with confidence (the etymological sense in "credit"), loans of modest value to poorer families, and especially women. This form of financial support despite not being much, proves to be of vital importance to those who have no other means of survival and would be unable to receive any form of help through official channels.

Microcredit, created by Bangladeshi economist Muhammad Yunus, is currently in place in many countries around the globe with positive results of approximately 98% coming back into credit.

We thought about applying this type of financial aid to the poorest families in Tanzania in order to allow them to perform small activities that would generate an income, which would enable them in due course to gain independence and not be dependent on the help provided by our organisation anymore. Furthermore, this would allow them to satisfy their basic needs, such as food, healthcare and shelter and will be invaluable in the future education of their children.

The main advantages of this form of intervention are:

• the money goes directly to the poor families
• whilst extensive aid can lead to dependance, being passive and humiliation, access to credit will help generate self-esteem and will stimulate a more concrete and long lasting improvement of the families´ different economic situations
• enterprising activities are decided according to the financial strains of those who would receive the credit, and are aware of the families´ real needs
• the families economic improvement generates change in within society itself (women's role etc)
• the money is stored in a fund that is created in order to allow the continuation of independent work, and freedom from the “help” provided by outsiders.

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The projects

Microcredit projects to be funded

The microcredit project at present

1. Project Nr 0a – Offer a farm animal…;

Microcredit Projects that have already been completed

If you would like to know more, feel free to write to us at: info@changamano.org

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