Micro-credit in India: Neighbors finding neighbors
“All Saints Episcopal Church Bank” is administered by The M. S. Swaminathan Foundation of Chennai, India. This unique “bank” provides “micro-credit” for indigenous groups in India that are involved in self-help projects, such as marketing native craftwork, agriculture, or simple industries.
Since the establishment of “The Bank,” loans have been made to, —and are being repaid by: seed growers who have successfully harvested new crops; gem-cutters who began a new business; and a self-help group for the purchase of dairy cows that allowed the dairy farmers to start “milk runs” throughout the region.
Begun with funds given to the Foundation while the rector was on a sabbatical in India, All Saints is able to make further “deposits” at any time. Early in 2008, the Episcopal Diocese of North Carolina’s Millennium Development Goals committee deposited $1,000 into All Saints “Bank” to expand this MDG-related ministry.
See for yourself, and go to www.msswaminathan.org/et/friends_mssrf/micro_credit/allsaints.htm
|
