We’ve had an amazing start to our journey in Cajamarca. The women of the DiscoverHope village banks
have greeted us with unbelievable openness and generosity. As we settle into our journey this week, we
have much to do in addition to visiting the women of the village banks and
taking in local sights.
One of the objectives of our visit is to continue to ensure
the long-term sustainability of the program in Cajamarca. Sustainability is a critical component of our
Loan
– Learn – Lead - Legacy model. By transitioning the local
administration of training and loans to local partners, we create a Legacy of
the MicrocreditPLUS infrastructure in Cajamarca. As our clients complete each loan cycle, they
build their credit history. Once they
have reached their 9th loan cycle, they will “graduate” to more
traditional banking service organizations with a history of consistent savings.
We’re currently in our 6th loan cycle with 5 of our banks, so our
first banks are only a few years from graduating!
During our visit, we are meeting with our local partner,
Multicredit, to monitor the progression of our clients in their loan and
savings path. We are working with
Multicredit to continue to assume additional ownership for the program as it grows.
Enclosed is a team picture at our kick-off dinner with our
Mutlicredit partners. We’re also meeting
with our village bank officers (promotoras) and Desiree, our Field Manager, and
other key staff contributors to make sure they continue on the path of
advancement. These are important tenants of the Lead and Legacy
pillars of our model.
We appreciate your continued support as we help create a
sustainable Microcredit PLUS infrastructure in Northern Peru!
John, Hector, and Maggie
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