By Markus Faigle | Volunteer Project Director
We implement two different mechanisms of microcredit on rice production: One for the community at large, where they can borrow seeds from Zahana from October to December and pay it back (in seeds) after the harvest.
The second project is for groups to use the community rice storage building to store rice after harvest to be sold later when the price is good.
Schools in both villages are involved in the second rice project. They are cosidered a 'group', similar toa women's group of a parents group. Their goal is to make money for their everyday needs (chalk, soap, seeds, school supplies and school food) and to save money for the future when they may have to support their own school.
As an added benefit students learn early on, that saving and not seeling right away a part of the harvest until the price goes up has direct financial rewards for the farmer. The initial funds to buy the rice for the school project (from our own farmers), were provided from Zahana’s microcredit fund. As we see this as an investment in the future, the entire amount, plus the profits from selling the rice at a later date become part of the schools own microcredit fund, to be used over and over again.
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