Bibi Hoor is just one of the thousands of Afghan women who have forged new livelihoods since 2009 through the kind donations of MEDA supporters who helped MEDA raise a total of $1.25 million (with the government match) to fund microloans as part of the Afghanistan Challenge. [see Bibi Hoor’s story below]
Through your generosity, more than 7,000 women have gained not only an income to feed their families and send their children to school, but also new dignity and respect in their communities.
Three years ago, MEDA joined the Afghanistan Challenge, through which donations to our microfinance work in Afghanistan were matched dollar for dollar by the Government of Canada. Thanks to your support, we have met our goal to provide loan capital for microfinance in Afghanistan, and that work will continue through a group of microfinance banks with which MEDA remains closely connected.
“With our commitment in Afghanistan now fulfilled,” notes MEDA president Allan Sauder, “we have had an opportunity to review the feasibility of our MEDA Trust initiative, and have decided to dismantle MEDA Trust effective March 31. Until then, you can still visit MEDA Trust to view loans, make new loans to Nicaragua and track repayments. Your donations to date will continue to be used by our partner microfinance institutions to fund new loans.“
The creation of MEDA Trust in 2006 provided us a great opportunity to offer supporters like you a chance to become closer to MEDA clients. When we designed MEDA Trust, we wanted to help you engage friends, colleagues and family members – to pass along your faith, values and concern for the poor to your children and grandchildren.
As the world of microfinance has grown beyond loans to offering savings and other financial services that many in the Western world take for granted, MEDA has broadened its areas of expertise to help financial institutions in developing countries meet the growing needs of their customers, ensuring they have continued access to financial services.
The advent of social media is providing new and exciting ways to engage others – so watch for updates in the coming weeks for details on our changing online landscape! Soon, you will have a variety of ways to connect your family and friends to MEDA – among them, to plan events to benefit MEDA or mount a fundraising challenge in your workplace, your community or in your children’s Sunday school class.
If you’re not a Friend of MEDA on Facebook yet, why not join us now?
Bibi Hoor: “Thank you for our new prosperity”
Bibi Hoor and her husband, Akhtar, a laborer, have five young children. Life was hard trying to raise a family on a laborer’s wages. Bibi Hoor wanted to give her children an education and a secure future free of the tensions of money worries. Luckily, she found out about microloans available near her, and got a loan of 10,000 Afghans (about $200) to buy a sewing machine and accessories to start a small home business.
Bibi Hoor started sewing clothing for relatives, then neighbors, and others who came to hear of her work. As her income grew, she invested in beautiful cloth to create more elegant dresses for women and children, which in turn attracted new customers.
With the first loan paid off, she expects to take new loans to grow her small business and ensure a bright future for her family. Bibi Hoor is deeply thankful for her new prosperity and the success she has earned with just a little credit.