Before our departure in September 2013, we invested 20,000€ in microcredit through our partner Babyloan.
With the reimbursements of the loans of the micro-entrepreneurs supported we were able to grant new ones to even more people. Therefore, on the 17th of January 2014, the amount lent represented the sum of 28,780€ and was distributed to 60 micro-entrepreneurs in Cambodia, Nicaragua, Ecuador, Peru and Morocco with Babyloan (Senegal to come shortly).
Once the loans are reimbursed, our microcredit funds are immediately re-lent to new projects in Senegal!
With Entrepreneurs du Monde our donation was directly transferred to the Microfinance Institutions (MFI) of our choice. Therefore NCRC in Kolkata (India) and Anh Chi Em in Dien Bien Phu (Vietnam) received 5,920€ to support projects of more than 50 micro-entrepreneurs. Click here to to watch our on field video reports!.
Once the loans are reimbursed, our microcredit funds are immediately re-lent to new projects in India and Vietnam.