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  • 5 days ago

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The multi-year Honduras Economic and Community Development program (HECD) has been supporting the development of microfinancing in Honduras for several years. The District 5360 Microfinance Task Force (MTF) has continued to expand its mandate to address new areas of need for financing in Honduras.

The Rotary Club of Tillsonburg and District 7080 is proposing to provide assistance. In support of previous phases including HECD Phases (GG #26173, GG #1419611, GG #1637324 and GG#1744647) we wish to assist with the expansion of microfinance loans to the entrepreneurial poor of Honduras.

Strategically, our objectives are to build upon previous successes … to expand microfinance projects in Honduras so that the impact can continue to grow and multiply. Operationally, the objective is to continue to provide microfinance loans to SME clients (Small to Medium Enterprises) with emphasis again on the “Small Enterprises” of the SME category. Phase 6 (D7080) will address these objectives by... providing

1) loan funds to a targeted segment, and

2) SMEspecific training to micro-businesses.

As seen in previous 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”, and the funds to grow business, provide for families, send children to school, hire neighbours, and create jobs…to earn a way out of poverty.

As indicated in applications for previous phases, not everyone is an entrepreneur – some people are better suited to being exceptional employees – and therefore, in order to fill the “missing middle” of the developing economies, we need to continue to address, build, and stabilize the SME-level of the economy. Opportunity International in partnership with Instituto para el Desarrollo Hondureno (IDH) are well positioned to address the SME economic void. We agree that SME’s are 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, other spin-off businesses are created due to demand, and the whole community prospers in the long-run.

With target NET available funds of $474,000 Canadian proposed for this phase, we understand that Opportunity International & IDH Honduras Microfinance Institutions (partners) can potentially leverage Project Funding X 5 ie) $474,000 x 5 = $2,370,000 … potentially creating Jobs for as many as 2,800 people living in poverty. HECD Phase 6 (D7080) will continue to extend benefit in three ways:

1) providing access to affordable capital for small businesses to grow

2) as they grow, they will need to hire more employees, therefore generating jobs

3) IDH will continue to provide SME-specific training

a true and positive ripple effect within the communities of HONDURAS.

As for previous Phases, project participants will be invited to join annually scheduled insight trips offered by IDH … allowing clients, friends and neighbours to learn how microfinance loans and respective training make a significant difference in the recipient communities.

Hoping your club will support this initiative and commit at least $1,500. Thanks for the Inspiration
Tegucigalpa Honduras


Apply - Honduras Microfinance Project Tegucigalpa