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Virltual MicroFinance Office in Honduras24 days ago
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Honduras Funding update - Phase IV - HECD
Category: Microcredit | By Steve, 27-Oct-2016 | Viewed 1528  Comments 0 | Source Ken Montgomery
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Phase IV - HECD Lead - Ken Montgomery

HECD PROGRAM RECEIVING BROAD ROTARY CLUB SUPPORT



HECD

, the Honduras Economic and Community Development multi-year program has been providing microfinancing in Honduras to family-based businesses (Trust loans) and to Small to Medium Enterprises (SME's) since 2012. 

Working with

Opportunity International Canada

(OIC), a Canadian Non-governmental agency (NGO), and a local Honduran NGO, IDH, the program has delivered hundreds of loans that have supported the development of small businesses that have benefited their local communities and more importantly helped families improve the quality of their lives and their living standard. Reducing family poverty is the end goal of the HECD program. Phase IV of the program will focus on providing loans to SME's which typically generate more employment opportunities than a small family business and hence have a broader impact on reducing family poverty.

The Calgary West Rotary Club has been leading this program and is now asking for Rotary Club financial support for Phase IV, of the 10-phase, multi-year HECD program. The target is to raise C$ 40-50,000 that through various government and Rotary grants can be leveraged to at least C$ 150,000, which after conversion will provide in excess of US$ 100,000 to IDH. These funds will be added to their loan portfolio to provide loans to primarily SME's, but also some family businesses.

Phase IV project has received financial support for Calgary- based clubs, regional clubs, and also other Canadian clubs. Funding commitments of almost C$ 40,000 have been received as of October 15th from the following clubs: Calgary West, Calgary Downtown, Calgary South, Calgary East, High River, and Quinte Sunrise in Ontario.  Visits are scheduled to Calgary Chinook, and a multi-club meeting hosted by Lethbridge Sunrise to continue the fund-raising efforts. The objective is to finalize all club funding commitments by the end of November in order to initiate the Canadian government and Rotary International grant applications as soon as possible, and deliver the funds to IDH by the April 1, 2017. 

If you have any questions on HECD Phase IV please contact:

Ken Montgomery


ken.montgomery@shaw.ca
587-223-2888
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