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Rotary Clubs in District 5340 have joined forces to maximize the impact of microfinance for poverty reduction
Category: Microcredit | By RAGM, 22-May-2013 | Viewed 3682  Comments 0
Since 2003, San Diego/Imperial County Rotary clubs have implemented almost 30 microcredit projects in 18 countries (including the U.S.), leveraging more than $1.5 million.  In addition to Rotary International matching grants, their collaborative, Mobilizing Rotary for Microfinance organization (MRM), has partnered with additional U.S. and international Rotary clubs/districts, Opportunity International and the Bill and Melinda Gates Foundation, to generate these funds.

Building on this, District 5340 has now joined forces with World Vision to support its microfinance project in Kenya, KADET. Located in the Machakos area of eastern Kenya, KADET has over 17,000 active borrowers participating in the microcredit program that provides participants with small loans of less than $500, business coaching and secure savings opportunities. 

It's a great partnership with World Vision, which will match the Rotary contribution on a 1:1 basis.  District 5340 has committed to raising $50,000 for a total project amount of $100,000.  World Vision (www.worldvision.org) is a large humanitarian organization with many years of microfinance experience. While this KADET program in Kenya was established prior to Rotary's involvement; Rotary is helping them expand the program into a less urbanized area of the country.

As the implementing partner, World Vision has also committed to supporting Rotary District 5340 by providing regular progress reports as well as online updates that allow clubs to frequently check-in with the project and gain more detailed information.  Additionally, the partnership allows Rotarians to visit the project, meet those involved and get to know the community better. 

As of the end of February 2013, half of the Rotary funds have been raised.  The District is seeking the participation of additional Rotary clubs and/or districts to help it reach its $50,000 goal.  For more information and/or to participate, please contact Bink Cook, San Diego Rotary Club, binkcook@gmail.com.
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