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The International Alliance for Women (TIAW) is pleased to announce a resounding response to its initial fund-raising call to fund 25 Village Banks in 2005 in celebration of TIAW’s 25th anniversary. With major donations from network members, the Village Bank program is heading towards success, providing business loans and other banking services for some of the world’s poorest citizens who have no access to traditional lending programs.
In conjunction with the United Nations Year of Microcredit, TIAW decided to initiate a major fund raising effort to help raise the level of economic opportunity and empower some of the 2.8 billion people who live on less than $2 a day.
“The response to this campaign has been amazing and I applaud Patricia Foley Hinnen, the Chair of TIAW’s Microenterprise Committee and her team for all their hard work and dedication”, said Hannah Sorscher, TIAW’s President.
TIAW has already launched 20 village banks in emerging nations, providing loans averaging $100 that enabled women to start their own businesses. TIAW works through local Microfinance Institutions to provide the borrowers with capital at market rates so that they do not have to rely on the inflated rates of money lenders who charge as much as 20% daily. Enterprises range from making tamales to selling shoes.
TIAW’s “25 in 25” Campaign was kicked off during the annual TIAW conference on November 3-5, 2004, in Washington, DC., and at a special fundraising “boot camp” for those women attending the conference who had already committed to the program. The boot camp was run by Patricia Foley Hinnen, the chair of the TIAW Microenterprise Committee who inspired everyone with her commitment to establish 25 village banks in 2005. Patricia said, “Let’s fund 1 Village Bank for each of the 25 years that TIAW has been in operation. I cannot imagine a better birthday gift for our organization than helping thousands of impoverished women to feed their families.”
The TIAW networks responded enthusiastically to Patricia’s call to action, as did many individual donors. The program enables women who feel privileged with the opportunities that they have had in their personal and professional lives to give back in a simple and direct way to those who merely need a chance at a better life, not a hand out.
To date, TIAW has received firm commitments for 31 Village Banks in countries as far ranging as Chile, Pakistan, Uganda, South Africa, Mexico, Botswana, Senegal and Peru. Additional commitments are coming in for the tsunami region where TIAW has established a special fund for Thailand, Indonesia, India, and Sri Lanka
Click here to make a donation online
If you would like to volunteer your professional services for this worthwhile activity or fund a Village Bank, please contact TIAW through Patricia Foley Hinnen, Chair Micro programs, at pfhinnen@comcast.net. or Maxine Westaway, Executive Director TIAW, at mwestaway@tiaw.org .
Contributions are tax deductible to the full extent of the USA law.
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