IDYDC MICROFINANCE PROVIDED LOANS YESTERDAY
Members of IDYDC Microfinance at the seminar before being given their loans
The loans were given to the members of Idydc microfinance
.....................................................................................................................IDYDC Microfinance means that providing very poor families with very small loans to helpe them engage in productive activities or to run small sustainable businesses and thus to enable them to meet their basic needs and improve their livelihoods.
Microfinance is the most powerful tool we have identified to help the very poor, those living below $1 a day.
IDYDC Microfinance most commonly it involves making small loans to poor women and Youth to enable them to start and grow small businesses. The additional income from the business helps a poor family to buy basic needs such as food, clothes, access basic health care, educate their children, save a little and towards a better future hence many of them in due course, pull themselves out of poverty.
Microfinance is one of the poverty alleviation mechanisms that the United Nations Millennium Development project has adopted to meet its goal to eradicate poverty.
IDYDC Microfinance has come to include a broader range of services which include credit, savings, training, etc as it has been recognized that the poor who lack access to traditional formal financial.
FAQs: ABOUT IDYDC-MICROFINANCE.
What is IDYDC Microfinance?
To IDYDC Microfinance means that providing very poor families with very small loans to helpe them engage in productive activities or to run small sustainable businesses and thus to enable them to meet their basic needs and improve their livelihoods.
Microfinance is the most powerful tool we have identified to help the very poor, those living below $1 a day.
What is IDYDC Microfinance?
To IDYDC Microfinance means that providing very poor families with very small loans to helpe them engage in productive activities or to run small sustainable businesses and thus to enable them to meet their basic needs and improve their livelihoods.
Microfinance is the most powerful tool we have identified to help the very poor, those living below $1 a day.
IDYDC Microfinance
most commonly it involves making small loans to poor women and Youth to
enable them to start and grow small businesses. The additional income
from the business helps a poor family to buy basic needs such as food,
clothes, access basic health care, educate their children, save a
little and towards a better future hence many of them in due course,
pull themselves out of poverty.
Microfinance is one
of the poverty alleviation mechanisms that the United Nations
Millennium Development project has adopted to meet its goal to
eradicate poverty.
IDYDC Microfinance has come to include a broader range of services which include credit, savings, training, etc as it has been recognized that the poor who lack access to traditional formal financial.
IDYDC Microfinance has come to include a broader range of services which include credit, savings, training, etc as it has been recognized that the poor who lack access to traditional formal financial.
WHEN AND WHY IDYDC STARTED MICROFINANCE.
IDYDC introduced the
microfinance in 1999 as a consequence of working with street children
and disadvantaged youth. It was observed that many children and youth
in Iringa region run away from their homes because of poverty and lack
of basic needs, others drop out from schools.
The intention of establishing
microfinance was to support the needy, vulnerable people in the
community, like widows, widowers, PLHAS, poor women and men or
adolescent orphans and youths.
IDYDC experienced that most
financial service providers in Tanzania are targeting financially
capable clients who pose a minimum risk to the institutions. However,
IDYDC targets people who for example cannot afford a warm meal twice or
three times a day. They have different backgrounds like divorced,
neglected or abused women, widows, people from extended families, care
takers of people living with HIV or orphans, even retrenched people,
unemployed youth, (generally poor and low-income people)
IDYDC microfinance supports
the target people with soft loans for operating small scale businesses
like running street kitchens, restaurants, groceries, kiosks, saloons,
plant nurseries, carpentry or welding workshops, selling second hand
clothes, stationeries, fish, meat, chips, eggs, fruits, vegetables,
engaging in photographing, tailoring, knitting, molding or keeping
livestock or poultry, making shoe shine or run other projects which
they will benefit from. Through this the Microfinance helps to create
self employment.
IDYDC intends to reach out to
more target people, especially Women and youth in all seven districts
of Iringa region and other parts of Tanzania for who we need financial
support.
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