GG1524801 – WoMEn 1000+

WOMEn 1000+ is a project of the Rotary International under Global Grant 1524801 with major collaborations from Rotary Geleen in partnership with Rotary Belgium, Rotary Germany and Rotary Club of Chennai Galaxy.

WoMEn 1000+ project is a two-year project from August 2016 – July 2018. The project primarily aims to promote Women Entrepreneurship by way of microlending. This project visualizes that the small women entrepreneurs no longer have to depend on the money lenders to set up their enterprises. The private money lending practice is not making any telling impact in the lives of these women. The private money lenders charge very high rate of interest therefore all the money the women make from their small business is paid back as interest. This further pushes them into the vicious cycle of poverty.

This is one the factor which further urges the need for this project. Through this project, the women would be given a loan to the extent of Rs. 15000/-, which they would use to set up their business enterprise/IGA (Income Generating Activity) or to expand their existing business. But the difference this project would make is the rate of interest is set at a bare minimum so that the women get benefited to the maximum extent.  The women borrowers repay this in 10 fixed monthly instalments of Rs 1500 along with a monthly instalment of 1.6 percent.

Aim & Objective

To disburse 400 micro-credits per annum among these women and provide them intensive training, coaching and guidance in setting up and growing their business or IGA. During the project phase of two years, 500 women will be provided with a microcredit.