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Liberia: Phase 1 & 2
Category: Microcredit | By SteveR, 16-Aug-2011 | Viewed 2500  Comments 0 | Source Foundation for Women Liberia
Contributing Clubs: Calgary Sarcee, High River, Calgary West, Calgary Heritage Park, Canmore, Pincher Creek, Orillia, Brooks, Olds, U-End, MEDIC, Calgary Progress Club and individual donors

Project Start: April 1, 2010
Project Completion: Phase 2, ongoing

Emily Peal, CEO Foundation for Women Liberia with trust group members
This project was spearheaded by the Microcredit Task Force and the Rotary Club of Pincher Creek  - Phase 1 and the Rotary Club of Brooks — Phase 2.  In total, this project will exceed $100,000 which will be donated to the revolving loan fund for poor women in Liberia to start and maintain small businesses in Monrovia and surrounding counties.   

Phase one of this project is complete.  470 poor women in Liberia were provided with $100 loans indirectly impacting 2,350 family members.  All loans were made to women and the payback rate is 95%.  Phase 2 will be an expansion of equal size to new clients and new geographic areas in Liberia.

Included in this funding was a matching grant of $25,000 from Government of Alberta, Community Initiatives Program who has received and acknowledged final reporting for this project Phase 1.  Phase 2 has been submitted to Government of Alberta for approval for an additional $25,000.  With the matching funds, this project will be completely funded.

Press Release Vice President Boakai, Liberia, West Africa

Monday, March 29, 2010
Meanwhile, Vice President Boakai has described the San Diego, California based Foundation for Women as a true partner in the government's effort to transform the lives of the Liberian people.

He noted that in just three years of operation in Liberia, the Foundation for Women through its micro-credit loan has touched the lives of many rural women.

"This is a project that is very dear to us. The President is aware of it and holds it very dear to her heart, knowing very well that her own grandmother was also marketer," the Liberian Vice President said.

He observed that said the small monies given out as loans to marketers, especially rural women have performed miracles because they have enabled them to manage their families and build their own homes.

Vice President Boakai further noted that the program not only helps to empower the women, but also to establish some integrity among people borrowing money.

The Liberian Vice President thanked the Founder of the Foundation to Women for reaching out to Liberian women, noting, "There couldn't be a better program for rural women".
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