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Honduras Microcredit Gets Another Boost
Category: Microcredit | By Steve, 20-Jan-2020 | Viewed 337  Comments 0 | Source John Gilvesy PDG
John Gilvesy PDG

Honduras Latest Microcredit Grant Totals $2.5 Million

John Gilvesy PDG greetings: It is great pleasure to announce that our Global Grant application for microfinance in Honduras (HECD Phase 6) has been approved.The recent message from The Rotary Foundation reads generally as follows:  


Your global grant application for funding to help boost economic development by providing loans and training to individual clients and SME clients in Puerto Cortes, Honduras, submitted by the Rotary Club of Puerto Cortes and the Rotary Club of Tillsonburg, has been approved by The Rotary Foundation and The Rotary Foundation of Canada. 

The award is in the amount of US$ 251,070.

That is approximately $326,000 Canadian ... providing hope to those less fortunate in Honduras.  It could not have been accomplished without those who generously contributed, including 46 Rotary Clubs from both North and Central America, Rotary Districts 4250, 5360, 7070 and 7080, the Canadian Government, The Rotary Foundation, and partners Opportunity International and Instituto para el Desarrollo Hondureno (IDH).
Thanks to all for making a real difference.  Working together, with contributions by many, has huge, sustainable impact.  By investing in proven and experienced microfinance and community development institutions that employ best practices, services can be offered to provide a hand up, empowering people to move from poverty and improve communities by promoting peace, preventing disease, bolstering economic development, and providing clean water and sanitation.

The Honduras Economic and Community Development program (HECD), led by the District 5360 Microfinance Task Force (MTF) has been supporting microfinance and community development in Honduras for several years.

With the benefits and experience from five prior phases, the Tillsonburg and Puerto Cortes Rotary Clubs and their respective Districts and partners are participating to continue assistance - with the expansion of microfinance loans to the entrepreneurial poor in the Puerto Cortes area of Honduras.

Strategically, the objectives are to build upon previous successes.  Operationally, the objective is to further provide microfinance loans to individuals and SME clients (Small to Medium Enterprises) with emphasis again on the "Small Enterprises" of the SME category.  HECD Phase 6 will address these objectives by providing 1) loan funds to a targeted segment, and 2) SME-specific training to micro-businesses.  As seen in earlier phases, the program is sustainable and will grow small businesses and create jobs.

Charity may not on its own end poverty. Microfinance objectives include granting safe and affordable training and loan products to the entrepreneurial poor. This "teaches how to fish", as the funds grow, business provide for families, send children to school, hire neighbours, and create jobs ... to earn a way out of poverty.  Not everyone is an entrepreneur - some people may be better suited to being exceptional employees.  In order to fill the "missing middle" of the developing economies, it is important to address, build, and stabilize the SME level of the economy.

Partners, Opportunity International and Instituto para el Desarrollo Hondureno (IDH) have been well positioned to address the SME economic void.  SME's have been crucial to providing jobs for others in their communities, and as more jobs are provided, more income is created.  The community's purchasing power is increased, growing demand, creating other spin-off businesses, and the whole community prospers.

As for previous Phases, project participants and interested guests will be invited to join annually scheduled insight trips ... allowing them to learn and to see their contributions at work.

Happy New Year!

John Gilvesy, PDG
HECD Team Lead for Phase VI
Rotary Club of Tillsonburg
Mobile: +1 519-688-8049
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