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Income - microcredits
Income - microcredits
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Micro Finance Research The latest report on MF carried out by EIBI commissioned by ING Microfinance support and Ministry of Foreign Affairs. Micro Finance Institutions Among practical interventions which have both a high succesrate and are sustainable in themselves micro credit for the poor score very high: 95%+ paybackratio are normal and after some time more than 50% of the clients have escaped poverty! The most known succes story comes from Grameen Foundation: A brochure on their work. A very clear video on their work. A impact report on micro finance Micro Finance Software www.mifos.org is a open source community. Mifos will allow more of the world's poorest individuals to access financial services, such as micro-credit and savings accounts, by enhancing the infrastructure of the microfinance institutions that serve them. Capitalizing on the open source model, Mifos will make available a low-cost management information system that is customizable to the local conditions of diverse microfinance organizations around the world. Micro Finance Ideas A number of development ideas which were implement with the help of Micro Finance: 1) Credit with Education: a fundamental insight that successful crediting can be extended with an integrated educational help package: nutrition, health, hygiene and basic business education. 2) Village Phone Project: m aking a living with basic Communication Technologies is an excellent example of how micro financing helps both small entrepreneurs to set up their own telephone business and giving their fellow villagers access to their far away friends & relatives, public services like hospitals and banks, market prices, etc at affordable prices. View the video to get a good impression of how it works. Furthermore a complete manual to replicate this project can be downloaded. By creating a business model in which the phone company wins, the micro-credit organizations win, the village phone operator wins, and the villagers themselves win, the model becomes self-sustained. It can be replicated on a national scale, as it has been in Bangladesh and Uganda. Village Phone proves that profitability and development are complementary, not antagonistic. 3) Village Computer project (allthough still in the pilot phase already a vast amount of knowledge is collected by then UN): Information kiosks can be a timely model based on lessons learned from Internet Cafes and other community access points that have been deployed to expand opportunities for communication. While the aim of Internet Cafes is to pro-vide market based points of access to the World Wide Web and communication applications, Information Kiosks shift the thinking from the objective being access to computers and places the focus on using the technology as a tool to deliver information and services to the underserved. Thus, the rural and disenfranchised of the world are given a voice. With that voice comes the prospect for expanded self-determination and the pursuit of a better life, as well as the possibility for a power shift from an elite few to a broadly engaged majority. Big lessons learned so far: -Partnerships and collaborations between government, business and locals are essential for starting up a information kiosk -Village computing can influence the way governments setup their infrastructure -Kiosk support centers are needed to keep them operational -Last mile connection cost are vital for sustainable success |