Loans Amply Repaid - Mozambique

A system of training & interpersonal communication is set up for 11 committees which enabled them to advise loan recipients. There was a great interchange of experiences & ideas between the different committees. In Tete district "the project allowed older & younger people to set up small enterprises together", bridging generations.

Ageing, Population, Youth, Economic Development

The loan system was supervised by an elected committee from the local village. Committee members received training who then advised the loan recipients who chose their own business propositions, such as brewing & blacksmithing. An initial donation of $5,000 from a "charitable source" started the process. "The age care group interviewed unemployed older persons (none of whom were eligible for pensions) & discussed initiatives from shoe repairing in street kiosks, through vegetable sales, to market gardening. Interest was set at 2% repayment, starting at the end of the first month; would last normally for twelve months, the repaid cash then being made available for further loans". After 2 years the agency had received repayment of all loans except one whose member had died, leaving no family. Similar programmes were initiated in Peru & the Philippines.