Village Banking – Microfinance
Village bank meeting, Group A
As the saying goes, “Teach a man to fish and you feed him for a lifetime.” Based on this wisdom, at URF, we believe in the empowering people to take charge of their destiny. The village banking program provides an opportunity to members to access small loans at a very low interest rate which they use to start or improve their small businesses.
Members are solely responsible for the management of the bank and URF provide mobilization and supervision for smooth operation. The program has reached 300 members including women and men divided into four groups. Members buy shares which are turned constitute a pool of funds from which everyone accesses credit. The program also includes a reserve as emergence fund for members.
In addition, our entrepreneurship and business skills trainings provide them with the basic entrepreneurship skills and business literacy that helps them to use their borrowed funds efficiently.