Develop community safety nets and microfinancing.



Village Savings and Loans Associations (VSLAs) are another example of how we can create safety nets for people who may not otherwise have resources to fall back on. These small, member-run microfinancing groups enable people to build savings and take out loans at low interest rates, leading to 99% of all loans taken being repaid in full. For Kenya’s Chalbi Salt VSLA, each member joined by contributing 1,000 Kenyan Shillings (about $9.00). Members used loans to invest in profit-making initiatives and, upon repaying the loan, added a bit more in to cover the interest — which was then redistributed amongst the group, creating a profit cycle. VSLAs can also be vital resources when an emergency hits, like a failed harvest or a medical crisis, and a personal safety net isn’t enough.


Sierra Leone

A meeting of Majehun VSLA in Tonkolili, Sierra Leone. 
Location: 405 E 45th St, New York, NY 10017, USA

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