Many of the extremely poor (defined as individuals who live on about $1 per day, while the moderately poor live on $1-$2 per day) seek to escape from poverty, but have never had the means to do so—partly because the extremely poor can't take out the kinds of large loans that commercial banks generally provide. In the 1970s Muhammad Yunus started Grameen Bank* in Bangladesh, providing loans of generally about $100 to those who want to start their own businesses—a woman may buy a sewing machine, an animal that provides milk for a village, or a few chickens, for example. One microfinance organization, Yehu Microfinance, serves the impoverished in rural Kenya. Many of Yehu's clients are illiterate and live on less than 60 cents per day.

In March, a few of us started an action group to help Yehu in any way we could. Among Yehu's current needs are laptops for each branch; transportation options, such as bicycles and motorcycles, so that clerks can visit more than one branch per day (most travel is currently done on foot); and a training program for potential borrowers, so that women from rural areas who have no business background have a better chance at success.

In June, our group also started working with the Visionaries Club, a small community improvement organization in Banket, Zimbabwe. In Zimbabwe, a devastated economy has closed many once-thriving businesses and services and significantly reduced already limited opportunities. To help prevent the youth of Banket from turning to alcohol and prostitution, the Visionaries Club seeks to provide community sports facilities and equipment. The Visionaries Club is also working to provide books for the local children's hospital, a facility that frequently lacks necessary supplies.

Our action group has recently set a goal to raise $2500 toward laptops for Yehu, sports equipment for the youth of Banket, and books for the Banket children's hospital. On Saturday, November 4, we're having an African party with authentic African food, dancing, and music from 7:00 - 9:00 PM at the Lincoln Institute. The activity will include a presentation about Yehu Microfinance and the Visionaries Club as well as an in-depth look at the way microfinance actually works. The cost is $25 per person; all proceeds will go to Yehu and the Visionaries Club.

If you would like to attend, or if you're unable to attend but would still like to contribute, please send an e-mail to fundraiser@uwandi.org. 

*Muammad Yunus and Grameen Bank have just been awarded the 2006 Nobel Peace Prize:

http://www.cnn.com/2006/WORLD/europe/10/13/nobel.peace.ap/index.html