Tuesday, July 27, 2010
Rwanda Microfinance Program Ready to Stand Own Its Own!There is great news from Rwanda! World Relief Canada has worked for several years with the URWEGO Opportunity Bank in Rwanda, providing microfinance loans to the poor of that country and building the capacity of this bank to continue on strongly into the future.
URWEGO Opportunity Bank was able to increase the number of its mostly female clients from just over 29,000 to more than 35,000. The lives of those clients have changed as they have been able to grow their businesses, send their children to school, purchase and grow nutritious food for their families, and even save for the future. The women who took out loans managed them and grew their incomes, but also grew in status by becoming financially independent and participating more fully in society.
It is time for World Relief Canada to wrap up its involvement with the URWEGO Opportunity Bank of Rwanda, which is now a strong and sustainable force to be reckoned with in the economic development and future of Rwanda. In fact, in a recent WRC visit to Rwanda, the bank and its director were singled out in government meetings as one of the most positive developments in Rwanda’s economic development. This success story, from what has been one of the most troubled spots on Earth, confirms what we already know. Microfinance, built with sustainability and local ownership as priorities, can change the future of any country.
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