It’s an
exciting time to be a part of the PHPG team! We are currently working on
several projects in addition to the rounds we make on Mondays and Fridays. One
of the projects is a savings program for 24 of our clients in the community of
El Diamante. This is something very beneficial given that most do not have
access to banks. The program also helps the savings collective become more
autonomous.
We first introduced the concept of a savings program back in the
month of June and we have made a great deal of progress. The PHPG team is
looking to introduce the same project in other communities where we distribute
loans in the near future.
The main idea
here is that in the future the community will take deposits and (after having
saved up enough to begin lending) make loans to community members to support
their businesses and to undertake projects to help improve daily living. This
could include building a well, or funding a bakery in the community. These
neighborhood projects are a nice improvement and a great way to advance living
standards and quality of life.
