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Project: CEV-Community Economic Ventures
Organization: World Vision
Country: Philippines
Term: June 2008 - June 2011
Amount of loan: 100,000 USD
Borrowers: approximately 95% of the clients are below the poverty line; they are between 18 and 65 years old
Project Description:
The goal of CEV is to enable their clients to increase their income by 30% annually by infusing additional capital. The clients will also be trained to manage economic projects by attending basic business management seminars. Functional savings mobilization programmes are established as well as additional training concerning the latest farming techniques.
The project will focus on providing crop loans to farmers; this will increase the yield of their fields. The payment scheme is designed to foster the cycle of their crops. Thus they will be freed from the high interest rates of usurers and the burden of paying back the loan without a harvest.