17 April 2014

The Power of Microfinance

Wasn't expecting to be doing much in the way of work on this holiday (and I definitely haven't been!) but I was pleasantly surprised by a wonderful development-career-related tour we went on  run by a great little microfinance outfit called Fundación En Via (www.envia.org). Just before we left Oaxaca we spent an afternoon with these guys who provide small interest-free loans to women in the villages around Oaxaca to support their businesses. Their rules are simple (and superbly empowering) - all you need are two other women, and you're eligible to obtain your first loan. The foundation works on the principle that these people have the skills and the ideas to put their business concepts into practice (or grow/improve their existing business), they just lack access to capital. The women who join the program attend (free) basic business skills classes, and if they are interested, (also free) English language classes. If you are able to repay your first loan, you'll be eligible for the next one, and so forth.

We visited a few women to understand more about the program directly from them, and it was just as fascinating to see the range of businesses they foundation has been able to support: a taco shop; a small corner-store grocer; a leatherwork souvenir maker; and a rug weaver. 100% of our tour fee was used to provide another loan.

It was a great afternoon out :)

On her third loan - the woman running her taco shop 

A beautiful rug we bought - incidentally from a woman who's also part of the loan program with En Via

Because the tour passed through several villages, we had the opportunity to see some local places of interest. This church was built by the Spaniards... using stones from a sacred temple they tore down in its place. 

Trying my hand unsuccessfully to spin wool at the rug-weaver's house

Church in another village, in full Easter swing

Ceiling inside a church

Cobbled streets of one of the dusty villages we visited - and yes, Mexico has bajaj too! 

Rugs, glorious rugs

Loan recipient holding up two cushion covers we couldn't resist buying from her :) 

Rug weaver's proud mum

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