Chiswick based charity launches £100,000 appeal
Microloan Foundation seeks to raise to give small loans to poor families in Malawi
The charity’s managing trustee Peter Ryan has just returned from Malawi where he saw for himself the benefits brought by the small loans – typically around £60 – made by MicroLoan to desperately poor communities in which almost no other employment opportunity exists. The money will typically be used to buy produce to sell at market or items necessary to start up small-scale farming activities.
MicroLoan’s patron, Bob Geldof KBE rationalises “In retrospect it appears obvious that one should treat the client as a borrower and not a beneficiary of charity. To treat someone as an adult human being with a stake in his or her future is the essence of sound business sense.”
Peter Ryan told us “To date MicroLoan has been able to help 200 poor families – a total of 20,000 people – in and around the town of Nkhotakota and the difference is really quite moving. Musauka Mtamobamiko a widow at 41 when her husband died of aids has been lent £40 to make and sell a basic doughnut. It is her only source of income and with it she looks after 9 children.”
“We are launching this appeal now because the projects we have supported to date have been so successful, demand for micro loans is escalating as people see the very real difference it can make to their lives. Sometimes that difference is very simply the difference between life and death."
Microloan have set up a website – www.microloanfoundation.co.uk
– so that people
April 10 , 2003
To find out more about Micro Loan (Registered Charity No. 1071101) and ways to help its work please phone 020 8994 0951 or e-mail email@example.com.
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