STEWARD SUPERVISES VSLA SAVINGS SHARING IN THREE COMMUNITIES IN - TopicsExpress

STEWARD SUPERVISES VSLA SAVINGS SHARING IN THREE COMMUNITIES IN PZ2 In a bid to reduce the high dependence of community members on forest resources for their livelihood, the STEWARD Program initiated the Village Savings and Loans Association (VSLA) scheme in their priority zones (PZs). It is a community savings scheme that teaches villagers, especially women about microfinance, providing them the opportunity to save money, take out loans, earn interest and assist families in terms of need. The scheme is operated in phases, with each one ending at the beginning of every planting season, during which the group shares the sum total in the savings box for members to buy agricultural inputs and also attend to other family welfare issues. A total of ten (10) groups were formed in communities surrounding the Nimba in 2013 in PZ2. Since the initiative was designed to be implemented as a pilot activity over the course of the first phase of the scheme in PZ2, the groups still needed supervision from the Program in order to ensure the achievement of its intended purpose. Under the supervision of the assigned Field Agents, three (3) of such groups in Gbapleu and Bouan-Houye in Cote dIvoire, and Doromou in Guinea, shared their savings in November 2014 after running the scheme for a period of 9 months.

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