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Today, Nourishing the Planet introduces five innovative microcreditprograms that are encouraging economic growth in poor communities. 1. Farmer-to-farmer programs : Microcredit programs tend to be most sustainable when they promotecooperation between residents of a community. Encouragingfarmer-to-farmer support can be an effective technique because itallows participants to be less reliant on outside financing andguidance. Farmer-to-farmer programs in action : When Africa s Sustainable Development Council ( ASUDEC ) connects farmers with microcredit loans, the recipients haveseveral expectations placed upon them. ASUDEC requires farmers tonot only pay back the loans, but also to offer equally affordableloans to their neighbors. This policy generates a ripple effect,helping communities increase their incomes and fund their ownprogress, rather than relying on ASUDEC. As the trust andcooperation between farmers builds, it helps the poor transitionfrom subsistence to entrepreneurship, says ASUDEC S Director,Dr. Salibo Some . RELATED : 6 signs of hope in Pakistan 2. Integrated economic support : While gaining access to affordable lines of credit is animportant step for poor farmers, it isn t always enough to providereal financial stability. Some microcredit programs go beyond smallloans and offer many services, such as connections to markets,supply regulation, and savings accounts. Integrated economic support in action : BRAC , formerly Bangladesh Rural Advancement Committee, started itsmicrofinance program in 1974 in Bangladesh , and now provides asset- and referral-free microloans toimpoverished people in 16 countries. The largest developmentorganization in the world, BRAC s aim is to use microfinancegroups as a social platform to deliver scaled-up services inhealth, education, business development, and livelihood support. They provide specialized loans ($50 to $700) and training for youngwomen, and larger loans ($700 to 7,000) to existing smallenterprises. All of these loans come with access to a range ofservices, including savings, technical assistance, and marketing.Over 99 percent of BRAC s 7 million borrowers pay back their loanson time. 3. Training centers : Without the necessary knowledge and training, many farmers whoreceive microloans would struggle to increase their production andpay back loans. Most microcredit programs, therefore, link theirloans with training and education on up-to-date techniques andpractices. The e-commerce company in China offers quality products such as Inflatable Paddle Boats , Inflatable Snow Globe, and more. For more , please visit Inflatable Bumper Ball today!
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