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Micro finance for Southern Ukraine Region
Proposed Project: To enable underserved population living in impoverished communities of war torn region in Southern Ukraine with microloans and education to start or grow enterprises and become self-sufficient. This project intends to serve 150 Families over the course of two microloan distribution cycles initially and hundreds more beyond the project timeline.
Need : Challenges are greatest for families especially women who lack access to capital and job opportunities. This leads to cycles of poverty that is compounded by lack of access to quality health care and education. Women living in poverty struggle war torn areas trying to survive and to provide necessities for their families. By providing these women and broken up families who lack a credit history or collateral with access to small loans to start or grow enterprises, profits increase, so they can invest in the health, education, and welfare of their families, which helps to break cycles of poverty.
How can we reach these families :
We have established a center in Mykolaiv To teach the wine makers, new method with the help of some of the successful white makers in the region. Also the center is designated to all farmers in the area that they can sell their products from vegetables to art project and dairy products and others. This center has been established by a former Global Grant program. So this Global Grant will be focused on the families they need Micro loans to establish their business, especially in this war time. We will have other organization on the ground that can help these families by training And marketing to sell their products on local level and international level. Also, we will have an organization which can help in the distribution of this Global Grant and oversee The Distribution of the laws. They also have a series of education modules related to financial literacy that spans content related to debt burden appropriateness/assessment, budget planning and monitoring, the importance of savings, how to develop good credit history, to more specific industry related information for entrepreneurs working in retail, the food industry, agriculture, etc.
These organizations and the Rotarian will provide the borrower with online education modules or offers to screen the training at a centrally located and accessible community space for small groups of women,and families.
Time line: Timeline: Projected launch date will take place Immediately after the approval of the grant and funding .We anticipate it will take 18 months for two cycles of microcredit disbursements. Once funds are secured, the involved Rotary Clubs and Rotaractors will work with the Cooperating Organization to identify a suitable Well-Being Officer. Once hired, training and training of trainers will commence followed by borrower screening and microcredit business applications. Typical loan cycles are 6-12 months with an average closer to 10 months. Cooperating Organization will provide periodic updates and reports, and a final report upon completion.
Rotary involvement: Rotarians and Rotaractors in the region will be overlooking the whole operation and helping the participants in the region . The club members and their guests hope to do site visits once microloans for this project have been disbursed.
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